The following are the intraday outlooks for EUR/USD, Crude Oil, and USD/CAD as provided by the technical strategy team at SEB Group.
EUR/USD: Bids above 1.2445 or else below 1.24. The market somewhat unexpectedly fell back to put renewed pressure on a near-term 1.2445/28 pivot/Fibo zone. Players better show bids here or else experience the onset of a drop back under 1.24 - then with targets at 1.2388 or in the 1.2374/58-zone. First-hand resistance is located at 1.2495/97. Current intraday stretches are located at 1.2405 & 1.2530.
Brent Crude: 6.6% down in one session...! Massive losses incurred after OPEC. A technician wants to believe that the lower parallel was what was finally stopping it while a quant guy thinks that the 21day -1% std dev was more than enough. In any case it seems that a sub-70 move is fairly likely now, but a bounce to recheck yesterday's 75.00 mid-body point is anyway possible first. Intraday stretches are all out of fashion - which was proven just too well yesterday.
USD/CAD: Contesting resistance around 1.14. The earlier correctional decline seems to be over (and it was a little bit of a surprise it had to go all the way down to the short-term 78.6% Fibo retracement candle before bottoming out). Yesterday's clear-cut bullish candle points higher and into a nearby zone of resistance around the 1.14-mark. A constructive break through this resistance would turn attention to the recent 1.1466 high and beyond this point towards a medium- long-term 1.16/17 attraction.
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