The following are the intraday outlooks for EUR/USD, USD/JPY, and USD/CAD as provided by the technical strategy team at SEB Group.
EUR/USD: Still liked short term higher. The pair continued its corrective climb on Friday, basically reaching the 1.0855 resistance before ending the week by giving up some of the gains made. In our view the best fitted pattern still calls for prices to be pushed slightly higher, to ideally 1.0940, in order to complete wave c within the bear triangle.
USD/JPY: Violated the 118.71 support. The break below the 118.79/71 key support didn’t attract sellers enough to keep the pressure intact and the pair therefore rebounded some ending the week above 118.80 hence avoiding a bearish key week reversal candle. Downside risks are however still persisting and unless returning to the positive side of the 55d ma band more losses should be seen near term.
USD/CAD: Buyers below the "Cloud" Dynamic support at the lower end of the short-term Fiboadjusted "Cloud" was not respected last week, but buyers anyway responded below the "Cloud" on Fri. A short-term 161.8% Fibo projection ref has also something to do with this response. Following this potentially near-term bullish print, resistance in the 1.2300\1.2390-zone should be retested. Current intraday stretches are located at 1.2090 & 1.2335.
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