Tag Archives: USD/TRY
JPY strength. USD/CNH peaking? EUR/SEK higher.
EUR/USD: The pair initially fell down to a 1.3643 low to completed anhourly five wave pattern down from the recent high point.The following bounce,
USD/CHF a buy? NOK buying drying up
EUR/USD: The past week’s inactivity has created a contracting range, abull triangle and as such the best fitted move will be a breakto the topside.
USD/CAD in the buy zone. USD/TRY higher.
EUR/USD: With the slimmest of margins the market failed to take outthe 1.3774 resistance and completing a five wave advance.
EUR/GBP higher, USD/NOK buy the dip, EUR/HUF
EUR/USD: It is currently impossible to tell whether we now have apremature (should have been above 1.3774) peak at hand orif the 1.3774+ move still is lurking.
Exploiting positioning imbalances in EM FX
A run of weaker US key economic data (ISM, home sales, non-farm payrolls) has moderated Fed policy expectations somewhat, and provided some support for EM FX of late, with average gains of around 2% vs the USD month to date.
2014 Shaping Up to be a Worse Year for Emerging Markets
Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa — dubbed the ‘Fragile Five’ by Morgan Stanley last August.
Sell €/JPY above 140. Weaker SEK, NOK & PLN.
EUR/USD: So far this week each and every day has fallen below theprior day’s low point only to be immediately rejected andending in the upper end of the daily range.
The Global Macro Pulse
The USD lost ground against risk currencies ahead of the FOMC. AUD edged higher to 0.8805, NZD to 0.8277, leaving AUDNZD essentially unchanged at 1.0639 before the RBNZ meeting tonight.
The loonie is stuck on a losing track. SEK tries to break resistance.
EUR/USD: Another lower daily high and lower low was addedyesterday, but buyers responded near the 8day “Tenkan-Sen” & Jab23 bullish benchmark candle mid-body point at1.3622.
EM corrections (not trend-benders) elsewhere mostly consolidation
EUR/USD: The ongoing decline from the recent high (1.3740) lookscorrectional. Intraday conditions would once again bebullish if/when the “B-wave high” at 1.3717 is taken out.
Monitor the Yen. Sell cable and NOK.
EUR/USD: The, so far non sustained, break above 1.3700 indicates thatthe entire decline from 1.3894 might have been just a threewave downside correction hence suggesting that a newtrend high will be set in
€ weakness. €/JPY at support. NOK correction.
EUR/USD: With the late decline last week a bearish key week reversalwas created (here seen as a downside continuation pattern)hence enhancing our view of a forthcoming 1.33/34-test.