Tag Archives: EUR/JPY
FX Market Technical Research
EUR/USD: Bulls Focus on Mid-June High. The EUR makes a sharp recovery over the 5 & 21-DMAs, which turn initial support at $1.2535/58 to reach a $1.2693 high.
Behavioral Finance: Daily Forex Outlook: EU summit expectations may have been too low
EUR USD (1.2575) Given the ultra-low market expectations for the EU summit, even a very modest softening in Germany’s tough stance would have been enough to surprise positively.
EURJPY jumps on EU Summit developments
The latest version of extend and pretend is seeing a dramatic squeeze higher in JPY crosses as USD and JPY longs head for the exits. Where from here?
FX Market Technical Research
EUR/USD: Recovers 21-Day Moving Average, Fibonacci Level. The euro makes a sharp recovery over the $1.2500 5-DMA and $1.2545 21-DMA to test a 61.8% retracement of the pullback from 18 June, at $1.2618.
Behavioral Finance: Daily Forex Outlook: EU summit may yet deliver a modest upside
EUR USD (1.2510) Market expectations for any policy solution from the latest EU summit are exceptionally low. The general impression seems to be that the meeting will deliver a roadmap to the roadmap.
Technical Analysis
Not much to report except our bullish NOK/SEK call been proven wrong with the 1.1715 break. Other than that corrections/congestions still ongoing but seen as being in the latter stages.
Behavioral Finance: Daily Forex Outlook: German ‘No’ seems already priced in
EUR USD (1.2495) The euro slumped to its day-low yesterday after unconfirmed reports suggested that German Chancellor Merkel appears to have estimated her own longevity as higher than the probability of eurozone countries sharing debt liability.
Daily FX Technical Strategy: A growing sense of foreboding
Investors are watching and waiting ahead of the EU summit later in the week. What movement there is in markets suggests that expectations are becoming more pessimistic.
Technical Analysis
Only limited moves seen overnight and the market seems to have entered a short term congestion. EUR selling/USD & JPY buying is however expected to soon be resumed.
FX Market Technical Research
EUR/USD: Holds Under 21-Day Moving Average. The euro recently saw a bear-cross in the daily stochastic study and now slides under the 21-day moving average at $1.2532.
Behavioral Finance: Daily Forex Outlook: Market resigned to summit disappointment
EUR USD (1.2540) Cyprus has officially become the fifth country in the eurozone to ask for a bailout and investors are again demanding higher risk premiums for investing in Spanish bonds.
Daily FX Technical Strategy: Yen benefits from equity woe
Global equity markets are coming under selling pressure once more and as the outlook for risk deteriorates investors are becoming more defensive.