The following are the intraday outlooks for EUR/USD, EUR/JPY, EUR/GBP, and Crude Oil as provided by the technical strategy team at SEB Group

EUR/USD: Bearishly into a fresh yearly low. The yearly low was crushed yesterday and pronouncedly so, with only the intraday stretch preventing a deeper fall into the next short-term objective at a short-term 161.8% Fibo projection ref at 1.3449. This move tilts the 3mt outlook into negative - something volatility traders take a note of too. Pushing the 1mt risk-reversal increasingly favoring puts over calls and the implied volatility higher. 1.3491/03 is a first-hand resistance while the current intraday stretches are located at 1.3425 & 1.3525.

EURUSD

EUR/JPY: Targets next 136.25 & 136.65/52 later. The short-term bearish wave structure is incomplete and trend-following tools are in negative positions but far from stretched. The 3mt outlook would turn negative on a bearish looking session/weekly close below 136.25. Key short-term resistance remains at 134.34/50. Current intraday stretches are located at 136.20 & 137.20.

EURJPY

EUR/GBP: Can the market accelerate the decline? The near-term scenario, favoring lower levels, worked well but now comes the tricky part: Trend-following tools are in negative positions, which is fine, but the move cannot look this wedgy to sustain pace to seriously target the 2012 low (0.7765) with ease. Unless taking advantage of the current general weakness it will be bumpy road ahead. Current intraday stretches are located at 0.7865 & 0.7920.

EURGBP

Crude Oil: Support at 106.80 could be violated. A correction higher could be completed, but maybe it isn't. So with two equally likely near-term wave structures we advise keeping eyes on support at 106.80. Above would host a +108.60 high before down (which would be needed to reduce the short-term stretch) while below this watershed would again expose the recent 105.50 low (with some support at 106.05/90.

Crude Oil

 '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


Recommended Content

Editors’ Picks

USD/JPY holds positive ground around 151.50 following Japanese CPI data

USD/JPY holds positive ground around 151.50 following Japanese CPI data

The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.

USD/JPY News

AUD/USD depreciates on risk aversion amid a stronger US Dollar

AUD/USD depreciates on risk aversion amid a stronger US Dollar

AUD/USD extends its losses for the second successive session on Friday. However, market activity is expected to be subdued due to light trading on Good Friday. Meanwhile, the US Dollar strengthens as recent data indicates annualized economic expansion in the United States, driven by consumer spending.

AUD/USD News

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.

Gold News

Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts

Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts

Bitcoin is showing strength as markets head into the Easter holidays. As it rises, altcoins are following suit, with Ethereum and Ripple posting almost similar gains. Meanwhile, there remains an unfilled CME Gap, with a lot of liquidity also resting above and below BTC price.

Read more

Bears have been standing before a steamroller so far this year

Bears have been standing before a steamroller so far this year

Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.

Read more

Majors

Cryptocurrencies

Signatures