something interesting

<  BACK TO Market Analysis

PIG TODAY-02.09.2016-Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

EUR/USD: Increasing risk of short-term low.

The unexpected strong recovery yesterday has clearly increased the risk of a short-term low. A move above 1.1210 would indicate the start of a neutral consolidation phase, likely between 1.1120 and 1.1280. Only a clear break below the major 1.1120 support would indicate that the next leg lower has started.

GBP/USD: Shift from neutral to bullish: Target 1.3370/75.

The sudden surge higher in GBP is clearly not expected. Strong upward momentum coupled with the breach of major resistances has shifted the outlook to bullish again. However, July’s peak of 1.3370/75 is another major resistance and this level may not be easy to crack. Support is at 1.3180 but only a move below 1.3130 would indicate that our bullish expectation is wrong.

AUD/USD: Bearish: To take partial profit at 0.7485.

AUD rebounded quickly after coming close to the immediate target of 0.7485 (low of 0.7490 on Wednesday). Downward momentum is showing signs of slowing and the prospect for a sustained move below 0.7485 has dimmed. Those who are short should look to book partial profit on any move to 0.7485/90.

NZD/USD: Bearish: Increasing risk of a short-term low.

The rebound from the 0.7204 low on Tuesday has been more resilient than expected. While the 0.7310 stop-loss is still intact, it is getting increasingly likely that NZD is trying to form a short-term base. Unless there is a drop below 0.7200 within these 1 to 2 days, a break above 0.7310 appears to be a likely scenario.

USD/JPY: 104.00 target met but diminished odds for further USD strength.

The revised 104.00 was met yesterday but the subsequent sharp drop has clearly dented the recent upward momentum. While the outlook is still deemed as bullish, USD has to punch through 104.00 soon as a prolonged consolidation below this level would lead to a rapid loss in momentum. Support is at 102.70 but only a break below 102.00 would indicate that the bullish phase has ended.

Source: efxnews.com

EUR/USD: Increasing risk of short-term low.

The unexpected strong recovery yesterday has clearly increased the risk of a short-term low. A move above 1.1210 would indicate the start of a neutral consolidation phase, likely between 1.1120 and 1.1280. Only a clear break below the major 1.1120 support would indicate that the next leg lower has started.

GBP/USD: Shift from neutral to bullish: Target 1.3370/75.

The sudden surge higher in GBP is clearly not expected. Strong upward momentum coupled with the breach of major resistances has shifted the outlook to bullish again. However, July’s peak of 1.3370/75 is another major resistance and this level may not be easy to crack. Support is at 1.3180 but only a move below 1.3130 would indicate that our bullish expectation is wrong.

AUD/USD: Bearish: To take partial profit at 0.7485.

AUD rebounded quickly after coming close to the immediate target of 0.7485 (low of 0.7490 on Wednesday). Downward momentum is showing signs of slowing and the prospect for a sustained move below 0.7485 has dimmed. Those who are short should look to book partial profit on any move to 0.7485/90.

NZD/USD: Bearish: Increasing risk of a short-term low.

The rebound from the 0.7204 low on Tuesday has been more resilient than expected. While the 0.7310 stop-loss is still intact, it is getting increasingly likely that NZD is trying to form a short-term base. Unless there is a drop below 0.7200 within these 1 to 2 days, a break above 0.7310 appears to be a likely scenario.

USD/JPY: 104.00 target met but diminished odds for further USD strength.

The revised 104.00 was met yesterday but the subsequent sharp drop has clearly dented the recent upward momentum. While the outlook is still deemed as bullish, USD has to punch through 104.00 soon as a prolonged consolidation below this level would lead to a rapid loss in momentum. Support is at 102.70 but only a break below 102.00 would indicate that the bullish phase has ended.

Source: efxnews.com

lastest Articles

Market Analysis
Gold climbs to weekly tops, around $1338 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 13.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK PM Candidate Javid: My absolute priority is to deliver a Brexit deal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Damage already done from the Mexico tariff threat? – ABN AMRO
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -12.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Preview: Draghi’s speech at ECB conference on CESEE in Frankfurt
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
OPEC+ and global supply risks to put a floor in crude markets - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold slips to 1-week low, below $1325 level amid fading safe-haven demand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -11.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Obsessed
This Time It's Different
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EU Commissioner Moscovici: EU still has risks to monitor, including Brexit and Italy’s finances
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold drops to multi-day lows, around $1325 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 10.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Higher After US and Canadian Jobs Report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Vasiliauskas: Inflation outlook is 'not bad'
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOJ: Expect further easing in September – JP Morgan
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD flirting with daily lows near 1.1260
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB and Eurozone GDP amongst market movers today – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Downtrend eroded? - Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOMC: July meeting priced in for 21bps of cuts – Deutsche Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD firmer, approaches 1.1300 ahead of US ADP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB: Tweak in policy rate forward guidance?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD: Further selling? – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold jumps to over 3-month tops, around $1330 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP could move towards 0.9 – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Market Death by Tariffs; Safe-Havens Reign Supreme
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD holds steady near 1.1135 amid falling German yields
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 31.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold technical analysis: Bulls challenge 100-hour SMA/38.2% Fibo. confluence resistance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Ramsden: Little more pessimistic about the GDP growth that the latest BoE forecasts
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 30.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY climbs to 1-week tops, 110.00 mark back on sight
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Rising bets for another test of 2019 lows near 1.1100
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 29.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rallies to session tops, around $1285 level amid reviving safe-haven demand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD remains under pressure around 1.1180
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 28.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY treads water near 109.50 amid negative Treasury yields
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/JPY technical analysis: Hangs near multi-month lows, bears eyeing a break below mid-138.00s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD ticks higher to mid-1.3400s amid weaker Oil prices
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD unable to gather traction above 1.1200
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
May’s Resignation means Brexit is Back to Square One
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 24.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD clings to modest recovery gains, 1.2700 mark back on sight post-UK data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Interim resistance emerges at the 55-day SMA at 1.1236
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold in search of a firm direction, holds steady near $1275 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD remains under pressure near 1.1150 post-German GDP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 22.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOMC Minutes to portray a cautious tone
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD technical analysis: Hammered down to 4-1/2 lows, vulnerable to test 1.2600 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -21.02.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
RBA: Rate cut in June and August?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD resumes the downside near 1.1150 ahead of ECB, data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's de Cos: European financial system remains fragile
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY remains sidelined below the 123.00 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD seen at 1.15 in 6-month – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Lower Despite Reaching Tariff Agreement With US
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 17.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold drops to session lows, retreats further below $1300 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Short-term consolidation?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
JPY futures: room for further depreciation
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/TRY edging higher, approaches the 6.10 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD technical analysis: Bears flirting with 1-week old descending trend-channel support
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 14.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD keeps the red below mid-1.2900s, 2-week lows post-UK jobs data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Recent tops and the 55-day SMA keeps limiting extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Balance of risks still favour 1.10 in 2Q19
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -13.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Broadbent: Doesn't know which way rates would go in case of a messy no-deal Brexit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar falls as the US-China trade war intensifies
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 10.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Central Banks: Space to deliver more easing, if required – Standard Chartered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY fails to extend attempted recovery beyond 110.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 09.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD finds little relief in RBA steady hand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Door open for extra losses to 128.40
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Index probes daily tops near 97.60
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold eases from near 2-week tops, focus remains on US-China trade talks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY in search of a firm direction, stuck in a range below 111.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Near term bearish below the 55-day SMA at 1.1268
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Australia: Lowest real retail growth since 2012
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 06.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Short term downtrend eroded - Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar softens on wage focus; RBA and RBNZ easing eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 03.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Techs lean bearish ahead of US non-farm payrolls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Asia: Material improvement in external positions
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Technical Analysis: Falls to over 1-week lows, further slide to $1260 area now looks a distinct possibility
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -02.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar rally stalls ahead of FOMC, NFP, Trade Talks, and Earnings
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Big Earnings, Rate Decisions and US GDP once markets return from holiday
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD inches higher to 0.7160, but lacks follow-through
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY frozen near 111.90 ahead of US housing data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yen ignores BOJ operation, Good Friday quiet trading to extend
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD consolidates the slide near 1.1250, US retail sales eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY-18.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
Easter Trading Schedule
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD is holding steady
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Recovery towards 1.3100 on its way ahead of UK CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FX Today: Antipodeans rescued by strong China data; focus on UK/ Eurozone CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613