Tag Archives: EUR/JPY
Daily FX Technical Strategy – Kiwi takes flight
The combination of a slightly stronger USD and slightly weaker stock markets has undermined base metal prices and aluminium in particular. In FX markets, commodity currencies reflect this developing risk-off theme.
Daily FX Technical Strategy: NOK shadows oil
The spike in crude oil prices to new 2012 highs overnight is lending support to the NOK. EUR/NOK is being driven relentlessly lower and following a weeekly close below 7.4190, we would be encouraged to target the 2003 low at 7.2175.
FX Market Technical Research
EUR/USD’s key day reversal on Wednesday could mark the end of the recent bullish consolidation phase. Therefore expect to see further weakness in the days to come. The 1.3322 early February high is now being eyed.
FX Market Technical Research
EUR/USD: The break out of Monday’s inside day in the EUR/USD should determine the trend for the next few days. Since the break has been to the upside, the 1.3550 December high is now being targeted.
Behavioral Finance: Daily Forex Outlook: The euro needs to sneak a peek behind the LTRO
EUR USD (1.3445) Given that the German Parliament will vote today to approve the second Greek bailout, it was clear from the outset that Germany would not agree to top up the pan-European rescue vehicles, just yet.
Technical Analysis
Euro rally continued Friday without much sign of stretch, still surprisingly small adjustments to the non-commercial short euro position (latest reporting period = Tuesday close last week).
Behavioral Finance: Daily Forex Outlook : Observers struggle to explain euro strength
EUR USD (1.3370) Many market commentators attribute the euro’s current strength to yesterday’s better-than-expected German IFO. This may be because this was the only euro-positive release of the day.
FX Market Technical Research
EUR/USD has cleared the 1.3322 resistance and at this point we must allow for a further rally near term towards the top of its 6 month down channel at 1.3520 currently. The 50% retracement at 1.3435 (of the sell off from the October high) is likely to offer some interim resistance en route.
AUD rallies as RBA’s Stevens says he is happy with current policy
In his semi-annual testimony before Parliament, RBA Governor Stevens said that monetary policy was right for the moment. He offered nothing different from the previous RBA statements and remained upbeat on the economy throughout.
Behavioral Finance: Daily Forex Outlook: Dim growth outlook fails to dent the euro
EUR USD (1.3260) A vote to get the Greek bailout deal approved in the German parliament looms. Important thing is the issue of increasing the resources of the ESM to €750 billion. As before, the IMF and other eurozone members are in favour of increasing the ceiling.
Daily FX Technical Strategy: Euro delayed reaction
The market appears to be slowly responding to the Greek bailout deal given the general euro recovery yesterday. EUR/GBP is leading the charge but if EUR/AUD, EUR/CAD and EUR/NZD all follow through by breaking their respective recent range highs today, then we would expect the short covering move to snowball.
FX Market Technical Research
EUR/USD is sidelined and is struggling at the 1.3300/22 area (last weeks high). Failure here should provoke a sell off back to the 50% retracement at 1.2974, this remains our favoured scenario. Below 1.2974 should trigger losses to 1.2891/54, then 1.2775 en route to the 1.2626 recent low.