EUR Trading Outlook Archive

TECHNICALS: The bullish AUD/USD case is looking stronger today after support at 1.0220 held for the second time opening up the possibility of a short-term double bottom (see chart). The important resistance levels to watch are at 1.0385/1.0400 so it should be a battle royale… Read more

TECHNICALS: Make no mistake, we are still very much in range trading mode in the AUD/USD (see chart) and unfortunately we will only know it’s broken after the fact. Nevertheless, the fact that the major moving averages have capped the recent rally may be a… Read more

TECHNICALS: Technical resistance in the form of recent highs and a 38.2 % retracement level is capping for now at 1.0360 (see chart). The next resistance level above there is at 1.0400. Support levels are similarly clear at 1.0260.

TECHNICALS: I’m suggesting a broad 1.0260/1.0360 intraday range for the AUD/USD with moves primarily dependent on flows in the crosses like AUD/JPY, GBP/AUD and AUD/NZD. The charts (see chart) suggest that a base might be trying to form near 1.0220 but resistance should also be… Read more

TECHNICALS: The short-term technical outlook for AUD/USD (see chart) suggests that it may have fallen far enough for now and I favour reducing shorts now ahead of 1.0220 and looking to re-sell near strong resistance (trendline, 38.2% Fibo and recent highs) at 1.0360.

Movers & Shakers EURJPY The euro (EUR) rose to the highest point against the Japanese yen (JPY) as the pair moved to a four year high above 129.50. The expansionary monetary base in Japan has brought about a quest for yield from Japanese investors looking… Read more

CROSSES: EUR/AUD stalled near 1.2500 (see chart) and fell very heavily from there. The obvious technical target is 1.2160 and I’d much prefer to be short this pair although being long AUD in a risk-averse environment is not without its risks. AUD/JPY (see chart) continues… Read more

The US dollar (USD) is trading lower against the Japanese yen (JPY) as a series of positive economic data in the United States over the past week appear to give the Federal Reserve no incentive in embarking in another round of quantitative easing.

CROSSES: EUR/AUD stalled near 1.2500 (see chart) and fell very heavily from there. The obvious technical target is 1.2160 and I’d much prefer to be short this pair although being long AUD in a risk-averse environment is not without its risks. AUD/JPY (see chart) continues… Read more

Movers & Shakers EURCHF The euro (EUR) continued to rise against the Swiss franc (CHF), moving the pair above 1.2256. The euro had opened lower on Monday’s open but recovered as fears of a bank run on Spanish and Italian banks eased.