Tag Archives: EUR/GBP
FX Market Technical Research
EUR/USD has failed at 1.3245/50, the 38.2% retracement of the move down from November. It has eroded its short term uptrend and we regard this as negative price action – it suggests the correction is over and the market has resumed its downmove.
FX Market Technical Research
EUR/USD has reached its initial corrective target of 1.3245/50, the 38.2% retracement of the move down from November. We would ideally like to see failure here, this is our initial corrective target/measurement and automatic Elliot wave count, but acknowledge that while above the near term uptrend at 1.3072 the market remains bid.
FX Market Technical Research
EUR/USD has charted a ‘Doji’ at 1.3184, this marks indecision just ahead of our corrective target of 1.3200/50, and suggests to us that the correction higher that has been in place since the 16th January is likely to be over. We are unable to rule out a move to the 1.3245/50 zone (38.2% retracement of […]
FX Market Technical Research
EUR/USD has cleared this years high at 1.3077 and remains upside corrective. The market is poised to encounter the 1.3141/45 resistance, this is the October low and 55 day ma, between here and the 1.3245/50 zone (38.2% retracement of the move down from October) we expect to see failure.
Technical Analysis
Still unclear whether the EUR bounce has run its course or not. EUR/USD short term wide open, EURJPY likewise (watch cautiously 100.33/77) but EURGBP’s downside key day reversal argues for more downside (a short term GBPJPY play?), EURSEK and EURNOK both posted inside days suggesting that topside risk somehwat higher than the opposite, at least […]
Market Analysis
Strong auctions yesterday in Spain and Italy led to a welcome breather in the beleaguered sovereign debt markets yesterday which also prompted some decent short covering in EUR/USD after the very weak start to 2012. EUR/USD opened in Asia at $1.2814 after touching highs of $1.2845 in NY.
ECB and Bank of England meeting previews
Monetary policy meetings will be held in the Bank of England and European Central Bank tomorrow and the latter at least has the potential to deliver important new developments. ECB My guess would be that the desire to cut rates again will not yet be irresistible for the Governing Council, as also indictaed by the […]
Eropean Market Analysis
EUR/USD – Extended recovery to $1.27831, with any stops above $1.2780 triggered seen meeting profit take sell interest after the pressured move higher. Middle eastern buys cited for providing the mian demand in the move up from around $1.2750. Rate trades around $1.2774.
Tail wagging the dog in the interbank funding markets?
“One picture is worth a thousand denials” – Ronald Reagan The market still appears to be battling with the concept of ‘risk on’ meaning a higher USD, largely because it held the exact opposite relationship for most of 2011. Market activity remains surprisingly light and ranges surprisingly narrow given the magnitude and diversity of events […]
Technical Alert: Weaker GBP stronger AUD (& SEK). Lower GER yield.
The dollar index advance is temporarily halted & EURUSD could correctively test 1.2813\1.2860 and later resume the downtrend. Below 1.2720 would end this attempt higher… Bullish EURGBP print yesterday points higher towards somewhere above 0.83… AUDUSD bigger picture clouded but in a short-term ~1.04 lie within reach… EURSEK gap-opens lower.
EURUSD rangebound ahead of ECB? Also – SNB’s Hildebrand resigns.
EURUSD has seen a steep descent over the last few trading days – is it ready to take a breather back towards resistance ahead of Thursday’s ECB? Also – EURCHF fairly steady after Hildebrand resignation. SNB’s Hildebrand resigns – EURCHF drops EURCHF was roiled today as the SNB’s Hildebrand resigned over the currency transactions (CHF […]
European Market Analysis
EUR/USD – settles for the time being between $1.2760/70, after recovery earlier touched a high at $1.2775. Several traders have mentioned interest to go short on approach to $1.2780, with one major investment bank adding that they see the area between $1.2770/1.2800 as the area they will add to shorts. Further resistance seen in the […]