Tag Archives: EUR/JPY
EUR/JPY Technical Analysis
(102,30) The EUR/JPY confirmed a strong closing last night well above the resistance of the inside day at 100,85 supporting the extension that this morning favoured a test of the 102,45 area.
Asian Market Summary
EUR opened on a firm footing in Asia after progress was made yesterday in the Greek debt swap deal on confirmed reports that an austerity agreement was being drafted and would be presented to the cabinet today.
EUR/JPY Technical Analysis
(100,77) The EUR/JPY confirmed a further session of consolidation interior the inside day with 100,85 – 99,15 still the levels to follow. While above the 200 hours line at 100,53 we expect this cross to confirm a 101 overshooting!!
Behavioral Finance: Daily Forex Outlook: Can Greece save more?
EUR USD (1.3110) Yesterday yet another deadline set for Greek politicians to concur on austerity expired and news circulated that the Greek PM has instructed the Finance Ministry to calculate the costs of a eurozone exit. The euro, however, resolutely stuck to a range set mid last week.
FX Market Technical Research
EUR/USD near term trading is limited to 1.3000-1.3250/80. We wait a break from here to determine the short term direction. We remain biased towards failure at 1.3245/50, the 38.2% retracement of the move down from November.
Behavioral Finance: Daily Forex Outlook: Bernanke has yet to rule out QE3
EUR USD (1.3085) The surge in US payroll data triggered an equity rally. After initially falling the euro regained strength and finally closed lower at the pre-payroll levels. As the ISM data was also firm, the market is again discussing whether the odds against the QE3 have now increased and whether the Fed will tighten […]
Asian Summary
EUR/USD gapped down on the open this morning in Asia at $1.3120 after Friday’s NY close of $1.3157 and headed lower after weekend news pointed to a delay to the Greek debt swap deal until later today.
A monthly run through the long-term charts
MAJORS FX: The dollar index violated a medium-term important “B-wave high” at 81.44 and this points closer to prior tops at ~89, but the bullish move wasn’t sustained and the low monthly close somewhat dilutes a bullish stance.
Behavioral Finance: Daily Forex Outlook: Fed: Two degrees of freedom
EUR USD (1.3135) Ben Bernanke made an important comment about employment in his testimony yesterday: the Fed considers joblessness in the context of the whole population. This sentence might have been an acknowledgement of a Chicago Fed study we discussed in our last report.
FX Market Technical Research
EUR/USD charted an inside day to leave our outlook unchanged – we remain biased towards failure at 1.3245/50, the 38.2% retracement of the move down from November. However chart action at this juncture is not at all clear.
EUR/JPY Technical Analysis
(100,15) The EUR/JPY confirmed a session of consolidation interior the previous session’s range forming an inside day with 100,85 – 99,15 the levels to follow. It failed therefore to directly confirm the positive day reversal. Only a daily closing above 100,85 will support higher levels.
Behavioral Finance: Daily Forex Outlook: Job data is no reason for Fed to get less dovish
EUR USD (1.3070) Firm manufacturing data from across the globe boosted demand for equities and the euro rebound yesterday. With the Portuguese bond yields falling after a good auction and the Greek deal seemingly looking closer to resolution, the markets are now likely to focus on Fed. In his testimony before the Senate, Ben Bernanke […]