Tag Archives: EUR/GBP
FX Techs: London Open
At a glance: Signs of change The weak market behavior observed on Tuesday intensified yesterday when risk markets broke a couple of trend lines and neckline supports across the board. This is still nothing decisive yet on big scale, but could be interpreted as the early tremors of a bigger setback.
FX Market Technical Research
EUR/USD no change – the market will shortly encounter the top of the 7 month channel at 1.3449, this together with the February high at 1.3487 should provoke failure. However a break below 1.3263 (near term uptrend) is needed to alleviate immediate upside pressure.
AUD selling still featured in today’s Asian session
The AUD remained the market mover during the Asian session with steady selling in the AUDJPY cross (probably linked to JPY repatriation flows into financial year-end) sending the AUDUSD below overnight lows, but only marginally so. Profit-taking at lunchtime has since led to consolidation but we still remained below the 1.04 mark.
FX Market Technical Research
EUR/USD will shortly encounter the top of the 7 month channel at 1.3457. this together with the February high at 1.3487 should provoke failure. Initial support is 1.3291, then 1.3237 (near term uptrend) and we suspect will have to fall below this latter level to alleviate immediate upside pressure.
FX Market Technical Research
EUR/USD has eroded interim resistance at the 1.3291/1.3325 region (9th February high), and we would allow for an extension of the rally towards the top of the 7 month channel at 1.3463. this together with the February high at 1.3487 should provoke failure. Initial support is 1.3291, 1.3192.
FX Market Technical Research
EUR/USD continues to probe the 1.3291/1.3325 region (9th February high), it remains fairly choppy but ideally we would like to see failure here. A sustained break below intraday support at 1.3140 and the 55 day ma at 1.3130 is needed to further alleviate upside pressure and initiate a slide back to the recent low at […]
Daily FX Technical Strategy: Spring cleaning
As the end of the first quarter looms large, we continue to see background evidence of profit taking across asset classes. At the end of a busy week we are looking for more signs to post today. The AUD looks most vulnerable to recent commodity price weakness with AUD/JPY looking almost certain to post a […]
FX Market Technical Research
EUR/USD rallied towards and again failed just ahead of the 1.3291/1.3325 region (9th February high), we look for this to provoke failure. The market will need to erode intraday support at 1.3140 to further alleviate upside pressure and initiate a slide back to the 55 day ma at 1.3112 en route to the recent low […]
Daily FX Technical Strategy: Intraday clues for a dollar bounce-back
The dollar has tended to drift lower so far this week but we are not convinced this is a sustainable move. The correction in USD/JPY is taking on the shape of a bullish flag on intraday charts suggesting the uptrend is poised to resume.
FX Market Technical Research
EUR/USD continued to rally yesterday, the near term rally is viewed as corrective, but we would allow for a return to the 1.3291/1.3325 region (9th February high), however we would again expect that to provoke failure.
FX Market Technical Research
EUR/USD on Friday saw a strong rebound from support at 1.3000. This has been stronger than we thought, but is viewed as a correction only. It is possible that this rebound will return to the 1.3291/1.3325 region, however we would again expect that to provoke failure.
Daily FX Technical Strategy: JPY juggernaut still turning
Yesterday was a day of consolidation in FX markets and it passed without producing evidence of material change. Consequently, we are sticking with recent themes: USD strength, JPY weakness and NOK strength.