Tag Archives: USD/CAD
FX Daily Strategist: Europe
Greek deal leaves markets none the wiser The response to yesterday’s Greek bailout has seemingly confounded most market participants: those looking for a relief rally in risk have been sorely disappointed – but so have those who were looking for a ‘sell the fact’ response.
Technical Analysis – FX Daily Majors
Today’s highlights: · AUDUSD: Upward trendline spanning from December lows holds strong, with the 1.0629 low intact. Rebound through 1.0779 implies a re-test of the 1.0847 high
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Break below 1.3026 chart support and the 38.2% retracement of 1.3054 keeps the focus skewed lower to the 1.2889/54 chart/61.8% retracement support zone · AUDUSD: Topping structure in place with threat lower to the trend line from late 2011, now 1.0629/45. Through confirms a more notable reversal for 1.0527
Technical Analysis – FX Daily Majors
Today’s highlights: · USDJPY: An “outside” pattern already today (bullish?) aiming for key 200-day MA at 78.05 and then range resistance at 78.31. Above secures firmer Q1 base · EURUSD: Hinting at a small top, but still needs a close below 13-day EMA, 1.3125, to aim for 1.3026 next. Through here confirms
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Friday erosion hints at a top, but close through the 13-day EMA, now 1.3125, needed to confirm. Otherwise, risks remain higher this week
FX Daily Strategist: Europe
Greek Parliament approves austerity bill Greece’s parliament early Monday ratified austerity measures of EUR 3.3 billion in wage, pension and job cuts this year, which should now give way to the release of the second EU/IMF loan package at Wednesday’s Ecofin meeting.
Technical Analysis
Euro to decline? NOK/SEK to take off! EUR/USD – spiked above the neckline…GBP/USD – potential top formation…EUR/JPY – correction in its latter stage…EUR/SEK – still stuck in the doldrums…EUR/NOK – low end of parallel channel…USD/CAD – bullish print to take note of.
Technical Analysis
The positive vibes ending last week seems to be prevailing, perhaps except the euro that has continued to slide after the topside failure. EURUSD still trapped in the 1.3026/1.3219 range but with a negative undertone, EURAUD have broken to a multi decades low,
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.
Technical Analysis – FX Daily Majors
Today’s highlights: · DXY: Bearish “outside” pattern back from topping resistance at 79.50/70 leaves risk now to our correction target at 78.30/77.90 · EURUSD: Topping questioned, but whilst below 1.3235/44 prior support violations leave risk lower to 1.3026 (recent low/13-day EMA) and on to 1.2931 next
USD/CAD ANALYSIS
The CAD firmed against a broadly weakening USD as positive sentiment in Europe helped to push the Canadian dollar within one penny of parity. The USD was recently at C$1.0078 Monday, from C$1.0133 late Friday.
Three cheers for extend and pretend – or not?
This market is cheering global signs of extending and pretending from global governments and central banks. We know where it will all end, but the trouble is always figuring out how long the market wants to live in fantasy land.