EUR Trading Outlook Archive

EUR/USD Europe made a couple of attempts to clear the 200 hour MA overnight but failed. Solid offering interest ahead of 1.3600 conspired with the MA to cap European bulls at 1.3579. A drift lower had it near 1.3565 into NY’s open. A brief rally… Read more

EUR/USD A spike in US yields early in Europe’s morning saw EUR/USD make a quick dive to 1.3500/15 support again. The level held though and the pair sat near 1.3545 into NY’s open. The bounce persisted in early NY even as U.S. IP, Cap Utilization… Read more

GBP/USD – within a bullish channel The pair has rebounded on the lower boundary of a MT bullish channel and has validated a bullish flag. Moreover, the moving averages remain well directed. Therefore, as long as 1.6450 holds as a support (previous overlap), further advance… Read more

AUD/USD Intraday: towards 0.948. Pivot 0.9400 Our preference Long positions above 0.94 with targets @ 0.946 & 0.948 in extension. Alternative scenario Below 0.94 look for further downside with 0.9365 & 0.9335 as targets. Comment The immediate trend remains up and the momentum is strong.

EUR/USD opened in Asia at 1.3593 after selling off across the board overnight. Reserve managers sold EUR/USD straight while funds sold EUR against selective EM currencies and AUD. Despite these flows overnight, EUR/USD and the EUR complex remained moribund in Asia as has been the… Read more

AUD/USD Intraday: the downside prevails. Pivot 0.9290 Our preference Short positions below 0.929 with targets @ 0.923 & 0.9205 in extension. Alternative scenario Above 0.929 look for further upside with 0.9315 & 0.933 as targets. Comment The RSI is mixed with a bearish bias.

USD/JPY A clear upside breakout in Nikkei futures past its 100-DMA and daily Cloud got the yen selling ball rolling O/N. There was chatter o/n about Japan’s NISA cap being doubled. Rebounding Tsy yields reinforced USD/JPY’s technical boosts from clearing the down TL off the… Read more

Intraday Technical Strategy AUD/USD Intraday: bullish bias above 0.9265. Pivot 0.9265 Our preference Long positions above 0.9265 with targets @ 0.933 & 0.934 in extension. Alternative scenario Below 0.9265 look for further downside with 0.924 & 0.9205 as targets. Comment The RSI is mixed.

Market Comment Australia The S&P/ASX 200 index was flat on Tuesday. The index is above its 20d MA (@ 5470) and above its 50d MA (@ 5431). 65% of the index constituents are above their 20D MA (vs 58% the previous session) and 59% of… Read more

EUR/USD Post IFO setback hit 1.3616 Fri and 1.3615 in Asia today. Early GFK consumer sentiment for June as expected 8.5. Pair up from 1.3620 to 45 in early London after Constancio said ECB speakers would not discuss policy today, although Draghi still went ahead… Read more