The following are the intraday outlooks for EUR/USD, EUR/GBP, USD/JPY and Oil as provided by the technical strategy team at SEB Group.
EUR/USD: Going south again. The post-FOMC reaction has been dollar friendly and it starts to become clear that a correctional high is in place (not far from an ideal "Equality point"). Full confirmation would come with a move back below the 1.0922 "B-wave low" - and then target a print below 1.0808. Current intraday stretches are located at 1.0925 & 1.1085.
EUR/GBP: Extending losses - 0.6965 in focus. It looks like a short-term correctional "A-B-C" move has peaked. The 0.7045 overlap is a strong indication that the 0.6965 "B-wave low" also will become tested/broken. Current intraday stretches are located at 0.6995 & 0.7105.
USD/JPY: Over 124.19 would target 124.48...And over 124.48 would set an objective north of 125.86. This is true unless local support at 123.33 is lost. lntraday stretches are far off and would definitely allow for a move well above 124.48 today.
Brent Crude: A near-term bullish "Flag"? The backdrop trend leaves few doubts over direction and it seems that the near-term counter-trend push higher is just a minor correction, possibly already passed its peak something a move back under 52.51 would confirm. Current intraday stretches are located at 52.15 & 54.85.
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
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.