Tag Archives: USD/CHF
Behavioral Finance: Daily Forex Outlook: Only ECB can elevate the short-term sentiment
EUR USD (1.2515) With the Spanish government explicitly admitting that they will need help from European institutions to recapitalise the country’s banks, the eurozone crisis has yet again attained a new summit. The markets now expect an urgent short term solution to this development.
Behavioral Finance: Daily Forex Outlook: Austerity still has precedence
EUR USD (1.2375) High Spanish borrowing costs, diving stock markets and concerns about the banking industry again saw investors buying safe-haven assets yesterday. Perhaps that’s why EC’s proposal of a joint bank deposit guarantee scheme, a eurozone wide financial supervision body, and a direct recapitalisation of the banks by the ESM, resonated in the markets.
FX Market Technical Research
EUR/USD has now dropped right through the 1.2457 March 2009 low and is on is way to the 1.2329/06 support zone. This consists of the 2008 trough and the 2001-12 uptrend line. Medium term the 200 month moving average at 1.2066 and the psychological 1.2000 mark remain in sight.
Daily FX Technical Strategy: EUR suffers from US antipathy
US investors returned from their long weekend and resumed trading as they had left off the week before: selling the euro and buying the dollar. Eurozone troubles remain a clear concern and with the euro sliding to a new 2012 low for the year today against the USD, CAD and TRY, near-term risks are for […]
Behavioral Finance: Daily Forex Outlook: Eurozone is not the only risk to the UK economy
EUR USD (1.2465) Spanish bond yields are again hovering near the seven percent levels which make it difficult for the government to plan any sustainable borrowing. The Spanish plan to recapitalise Bankia through an equity-bond swap also becomes more expensive and the idea has found little resonance with the ECB.
FX Market Technical Research
EUR/USD has continued to slide and has sold off to the 1.2457 March 2009 low. Despite the fact that the RSI has not confirmed the new low, despite the 13 TD combo count and the 5th of 5th wave count, the market continues to weigh on the downside.
Daily FX Technical Strategy: EUR crosses take the strain
Evidence for a short term risk respite continues to mount… outside the eurozone that is. A reversal day in the Shanghai Composite implies further near-term upside potential and this is reflected in the commodity currencies where momentum is calling for a corrective bounce. Spanish problems, though, continue to be a drag making euro cross trades […]
Behavioral Finance: Daily Forex Outlook: Euro buoyed by profit-taking
EUR USD (1.2535) Even as the IMF’s chief reiterated the significance of tax collection and tourist revenues for the Greek economy, it is any hint at the colour of the likely coalition after next month’s election that causes markets to pay attention.
FX Market Technical Research
EUR/USD saw a very tepid rebound on Monday. The new low of 1.2495 charted last week has not been confirmed by the daily RSI and this suggests caution here and some near term consolidation.
Daily FX Technical Strategy: Fear fatigue
Memorial Day in the US should keep trading subdued across markets today, but against this backdrop the outlook for commodity related currencies appears to be improving. USD/BRL, which was at the forefront of the recent risk rout, encountered profit taking last week; the AUD has also bounced and against the EUR appears poised to rally […]
FX Market Technical Research
EUR/USD sold off all week and closed below the 1.2530 Fibonacci retracement (just). The new low has not been confirmed by the daily RSI however and this suggests caution here and some near term consolidation.
Behavioral Finance: Daily Forex Outlook : Swiss intervention is a viscous circle
EUR USD (1.2525) A mid-session upward spike in the EUR/CHF rate yesterday brought traders quickly to the conclusion that the SNB was reasserting its determination to cap the strength of its domestic currency.