Dailyfx (based on CNBC)

EUR/USD
"We see scope for EURUSD to trade lower in the coming weeks, based on the risk that Treasury yields will overshoot to the upside relative to what we regard as realistic Fed policy expectations"

The outlook for EUR/USD is deemed to be bearish due to a formidable resistance located at 1.3487. Recently the pair has bounced off 1.3291/1.3325 and is now expected to pierce through 1.3112 (55 day sma) while being on the way towards 1.3004.

EUR/JPY
"Weak data is giving traders an opportunity to take profits. If the recent falls end as a mere correction, the subsequent rally would be stronger thanks to this pullback"
(based on CNBC)
Even though support at 108.71 managed to halt EUR/JPY from nose-diving further, it is likely to be breached in the nearest future. This would allow for the pair to dip to 106.08 (uptrend supports).

GBP/USD
"The outlook for sterling depends on the economy - it could take a long time for recovery to take root, and sterling probably will only rally when there are signs that's happening"

GBP/USD has low chances of eroding 1.5927/92 and thus will be headed towards 1.5760/45, which guards lower levels at 1.5643 and 1.5599. In the long-run (within three months from now) the pair is targeting 1.5235.

USD/JPY
"We like the idea of the U.S. dollar becoming stronger over the year. There is a divergence between the two economies, with the U.S. recovery and not quite as compelling a story in Japan"

Key support at 82.38/23 should withstand present bearish pressure in order for the pair to be able to recommence its advancement after correction is over. The initial resistance is situated at 83.02, followed by 83.98 and 84.51.

USD/CHF
"The minimum exchange rate of 1.20 francs per euro remains front and center of the SNB’s monetary policy"

The pair is currently moving away from 0.9066 and will soon encounter 0.9206 (20 day sma). Overcoming the latter level would increase the possibility of extension of the rally up to 0.9342 and 0.9595.



1 comment:

ace7257 said...

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