The following are the latest technical setups for EUR/USD, USD/JPY, USD/CHF, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are neutral given stretched daily studies and look for signs of a top to re-establish our overall bearish view. We would only buy on a break above 1.1710 for a short-term upside squeeze towards the 1.1810/75 area. From there we would look for signs of a top to and move lower in range.
USD/JPY: We are standing aside and look for signs of a base to encourage us to resume our greater bullish view. A move below 116.90 would prompt us to turn bearish in the short-term towards the greater range lows near 115.55 where we would expect buying interest to emerge.
USD/CHF: As with other USD majors, we are waiting for the dust to settle and look for signs of a base before we can re-establish a bullish view. Downside risk is a break below 0.9250 towards the 0.9150 area before buyers resume for a move back towards the 0.9905 highs and then the 1.0130 area.
AUD/USD: Monday’s sell-off reached our initial downside targets near 0.7100. We now expect further weakness and would use any upticks as an opportunity to sell at better levels. Our next downside targets are towards 0.7000 and then the 0.6770 area.
'This content has been provided under specific arrangement with eFXnews.'
General Risk Warning for stocks, cryptocurrencies, ETP, FX & CFD Trading. Investment assets are leveraged products. Trading related to foreign exchange, commodities, financial indices, stocks, ETP, cryptocurrencies, and other underlying variables carry a high level of risk and can result in the loss of all of your investment. As such, variable investments may not be appropriate for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should become aware of all the risks associated with trading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall Witbrew LLC and associates have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to investment trading or (b) any direct, indirect, special, consequential or incidental damages whatsoever.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.