The following are the intraday outlooks for EUR/USD, USD/JPY, and EUR/GBP as provided by the technical strategy team at SEB Group.
EUR/USD: Still in the 'Wedge'. The mid-body point attracted selling as thought and the market remains below the bearishly sloped (Fibo-adjusted) 1.065 8day "Tenkan-Sen" line now at 1.0665. But support at lower end of the wedge (1.0665/60) was also respected. A break outside 1.0560 or 1.0690 is now needed to show the way short-term. Current intraday stretches are located at 1.0540 & 1.0700.
USD/JPY: Should be able to test the low-122s. With two important resistance pockets at 122.96\02 and 123.26. the move down from the 123.77 high should at least have some fuel left and test the 122.11"Equality point" (with numbers around it at 122.26/122.01 also worth keeping in mind). The next lower set of refs are located at 121.80/60 and levels there should not be forgotten either. A move over 123.26 would be renewed bullish for a fresh high, topping the 123.77 score.
EUR/GBP: Bearish print exposes 0.6982 again. The market U-turned near the still bearishly sloped 21day "Kijun-Sen" line (0.7091). This ended up with a bearish daily candle added,which exposes the recent low of 0.6982. But multiple supports at/above the Jul low of 0.6935 ought to shore up losses later. First key short-term resistance is located at 0.7080\0.7108.
'This content has been provided under specific arrangement with eFXnews.'
eFXnews is a financial news and information service. Articles and other information distributed in this service and published on this site are provided in general terms and do not take account of or address any individual user's position. To the extent that some of these articles include suggestions as to various possible investment strategies which users might consider, they do so in only general terms without reference to the personal factors which should determine any user's investment decisions to buy or sell a specific security or currency.
The service and the content of this site are provided and distributed on the basis of “AS IS” without warranties of any kind either, express or implied, including without limitations, warranties of title or implied warranties of merchantability or fitness for a particular purpose. eFXnews and its employees, officers, directors, agents, and licensors do not also warrant the accuracy, completeness or timeliness of the information in any of the articles and other information distributed in this service and included on this site, and eFXnews hereby disclaims any such express or implied warranties; and, you hereby acknowledge that use of the service and the content of this site is at you sole risk.
In no event shall eFXnews and its employees, officers, directors, agents, and licensors will be liable to you or any third party or anyone else for any decision made or action taken by you in your reliance on any strategy and/or advice included in any article and other information distributed in this service and published in this site.
Recommended Content
Editors’ Picks
AUD/USD bounces to 0.6450, shrugs off mixed Australian jobs data
AUD/USD is rebounding to test 0.6450 amid renewed US Dollar weakness in the Asian session on Thursday. The pair reverses mixed Australian employment data-led minor losses, as risk sentiment recovers.
USD/JPY drops to test 154.00 on Japan's intervention warnings
USD/JPY extends losses to test 154.00 in Asian trading on Thursday. The pair is undermined by the latest US Dollar pullback, Japan's FX intervention risks and a softer risk tone. Focus shifts to more Fedspeak and US data.
Gold price finds buyers again near $2,355 as USD licks its wounds
Gold price is attempting a tepid bounce in the Asian session, having found fresh demand near $2,355 once again. Gold price capitalizes on a softer risk tone and an extended weakness in the US Treasury bond yields, despite the recent hawkish Fed commentary.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price was not spared from the broader market crash instigated by a weakness in the Bitcoin market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.
Investors hunkering down
Amidst a relentless cautionary deluge of commentary from global financial leaders gathered at the International Monetary Fund and World Bank Spring meetings in Washington, investors appear to be taking a hiatus after witnessing significant market movements in recent weeks.