The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, EUR/CHF, AUD/USD, and NZD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We have turned bearish following subsequent “doji” topping candles. A low close today would encourage our bearish view towards initial targets near 1.1290 and then the 1.1220 area (near the 21-dma).
USD/JPY: Our bearish view was encouraged by the test of our initial downside targets in the 110.35/05 area. A move below Tuesday’s 109.95 low would confirm downside traction towards support near 109.60 and then towards the 107.60 area. Our greater targets are near 106.65.
GBP/USD: We are bearish and look for a move lower towards initial targets near 1.4050. A break below 1.4050 would signal lower towards the 1.3835 year-to-date low.
EUR/CHF: Low trading volumes on yesterdays sell-off to our targets near the 1.0870 range lows points to lack of investor conviction and we have decided to turn neutral for now. We are looking for signs of a base near 1.0845, the 200-dma and would turn bullish for a move back towards the 1.1025 range highs.
AUD/USD: We are overall bullish and look for the 0.7475 range lows underpin a move higher. Our initial targets are at the 0.7725 recent highs. Beyond there we look for a move towards our greater targets in the 0.7880 area.
NZD/USD: We are bearish and look for a move lower towards targets are towards the 0.6670 area. A break below 0.6670 would encourage our bearish conviction towards targets near 0.6545.
'This content has been provided under specific arrangement with eFXnews.'
Advertisement
For a live simulators for bank trade positions and forecasts, sign-up to eFXplus
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: Extra gains in the pipeline above 0.6520
AUD/USD partially reversed Tuesday’s strong pullback and regained the 0.6500 barrier and beyond in response to the sharp post-FOMC pullback in the Greenback on Wednesday.
EUR/USD meets support around 1.0650
EUR/USD managed to surpass the key 1.0700 barrier in response to the intense retracement in the US Dollar in the wake of the Fed’s interest rate decision and Chair Powell’s press conference.
Gold surpasses $2,300 as Dollar tumbles
The precious metal maintains its constructive stance and trespasses the $2,300 region on Wednesday after the Federal Reserve left its FFTR intact, matching market expectations.
Bitcoin price reclaims $59K as Fed leaves rates unchanged
The market was at the edge of its seat on Wednesday to see whether the US Federal Reserve (Fed) would cut interest rates during the Federal Open Market Committee (FOMC) meeting.
The market welcomes the Fed's statement
The market has welcomed the Fed statement, and the S&P 500 is higher in its aftermath, the dollar is lower and Treasury yields are falling. There is still only one cut priced in by the Fed.