UBS - "EURUSD BEARISH With the bear trend intact focus is on the key support at 1.2797. A break below this would suggest scope for further downside. Resistance is at 1.3078.
USDJPY BULLISH Our focus is on the key resistance at 103.74. Downside should be limited with support at 98.16.
GBPUSD BEARISH The pair closed below the key support at 1.5183. This was a strong bearish development, exposing 1.5009. Resistance is at 1.5279.
USDCHF BULLISH Any recovery should be limited with a…
Added by Francesc Riverola on July 4, 2013 at 10:23am — No Comments
Deutsche Bank - "UK data has been unambiguously strong recently, but we remain bearish GBP. First, similar to the yen, we don't think outright growth matters for a currency, but how it translates into flow. For the UK, the odds are stronger data translate into weaker flow.
(...) Second, we don't think better growth numbers will translate into tighter monetary policy either. It is too early to justify a hawkish turn, with the output gap large and both household and government leverage…
Added by Francesc Riverola on July 4, 2013 at 9:56am — No Comments
EUR/USD continues to trade close the 1.30 line in Thursday’s European session. US markets are closed for the July 4th holiday, but we could see some volatility from the pair, as the ECB announces its benchmark interest rate. The rate is expected to remain pegged at 0.50%, but the accompanying press conference has proven to be a significant market-mover in the recent past. There…Continue
Added by Yohay Elam on July 4, 2013 at 9:29am — No Comments
Markets are very slow today ahead of ECB and BOE and also because of closed markets in the US in observance of Independence Day. As such, market could be very choppy and overlapping today with no-real direction.
On the EURUSD we are tracking an incomplete correction in wave 2 which can be a flat because of a three wave fall from 1.3100 to 1.2930. If that’s the case then wave (c) should be made by five waves and reverse from 1.3100-1.3150 resistance zone. Keep a close eye on this…Continue
Added by Gregor Horvat on July 4, 2013 at 8:30am — No Comments
Added by Carol Harmer on July 4, 2013 at 7:18am — No Comments
According to H4 euro is supported at 1.2940, IT can be moved to upside but on breakage of 1.2900 a further drop is expected.
Instrument Trend Recommendation 04-07-2013
Buy above 1.2990,TP1.3050/70,SL1.2960 ,BOS1.2950
Buy above 15250,TP1.5303/40 ,SL1.5220 ,BOS1.5210
Sell below 100,TP 99.30,SL100.25 BOB 100.30
Sell below 101.30,TP 100.75…
Added by Usman Ali on July 4, 2013 at 6:13am — No Comments
A Daily black body has formed (because prices closed lower than they opened).
For the past 10 Daily candlestick bars as of 04/07/2013, there are 4 white candles versus 6 black candles with a net of 2 black candles.
For the past 50 Daily candlestick bars as of 04/07/2013, there are 28 white candles versus 22 black candles with a net of 6 white candles.
MACD is currently BEARISH. The MACD is currently below the signal…Continue
Added by Martin Kay on July 4, 2013 at 5:59am — No Comments
Recommendations: SHORT positions below 1.3038 with 1.2960 & 1.2920 as next targets.
Alternative scenario:The upside breakout of 1.3038 will call for a rebound to 1.3077/1.3135
Description: The pair trades below its resistance at 1.3038, as long as this level holds,look for further downside losses towards 1.2960/1.2920 levels, a break below 1.2920 will target 1.2860 ahead of 1.2790 , a 30 min close above 1.3038 would delay the…
Yesterday was the second try to bottom at 1.2922, after failing at 1.3058 last week, now pressure will be on the key resistance 1.3078, break of 1.3078 will open the way towards 1.3150, to neutralize the bearish threat , it needs a daily close above 1.3150, If seen,Intraday bias will turn bullish in short term and in medium term , it will turn from bearish to neutral,break of 1.3150 will open the way for retesting 1.3250/300 levels.
On the downside , a failure to hold above…Continue
We had a high volatility yesterday, but closed positive above 1.3000. However the EUR maintains the bearish tone, trying to find support at a tiny piece of a negative Ichimoku. Another test of 1.2950 is quite possible before the ECB rate decision. The most important for today will be the mr.Draghi speech. More significant moves i expect on Friday, because today US markets are closed. We need a daily close above 1.3100 to destroy the bearish outlook. Currently indicators on almost all time…Continue
I have given on 01st July the expected market moves in this week )1-05 July) along with the range of the levels the majors may show.
I will be reviewing the forecast and also explain what may happen during and after BOE,ECB rate decisions,ECB press conference and NFP of tomorrow during today's (04 July) "Live Asian session: market analysis" webinar between 05:00-05:30 GMT.
looking forward to meet you all over there to make live interactive session,that may…Continue
Added by Dr. Sivaraman on July 4, 2013 at 3:48am — No Comments
Rabobank - "The last few weeks have also seen the EUR push to better levels vs. the JPY. The gains, however have been moderate and EUR/JPY remains well below the levels achieved in May. We remain of the view that the yen can weaken over the medium term. The BoJ in April launched an extremely accommodative monetary policy and this should feed into a softer currency. However, the recent pullback in risk appetite is not conducive to significant yen slippage given the currency’s safe haven…Continue
Added by Francesc Riverola on July 3, 2013 at 5:49pm — No Comments
These are the positions currently reported at FXstreet by our dedicated contributors. Highlighted is the area were most of the positions seem to cluster:Continue
Added by Gonçalo Moreira on July 3, 2013 at 2:00pm — No Comments
Currently we are at 1.4292 after breaking out of the wedge. We are looking for a continuation to the 1.4434 with the overall target around 1.4500. The average daily true range (ATR) for the pair currently is 209 pips.…Continue
Added by Scott Barkley on July 3, 2013 at 12:57pm — No Comments
Bank of Tokyo-Mitsubishi - "The lack of enthusiasm for the euro, still evident in the COFER data could mean even less demand for the euro from central banks as domestic currencies come under selling pressure versus the dollar. We monitor closely changes in FX reserves amongst Asian central banks, looking at the top 8 reserve holders excluding Japan and China. On that basis reserves hit a record peak during Q1 (January) of just under USD 2.0trn in line with the ADXY index hitting its highest…Continue
Added by Francesc Riverola on July 3, 2013 at 12:32pm — No Comments
Bank of America Merrill Lynch - "Investors will closely watch this Friday’s non-farm payroll number in the US, and with good reason: the Federal Reserve said that the pace at which it purchases assets will depend on incoming data. Better employment data will bring forward a tapering in asset purchases. In turn, this may send long-term interest rates in the US even higher, triggering another round of EMFX selloff and outflows. A payroll around consensus – 165k as of today – is probably the…Continue
Added by Francesc Riverola on July 3, 2013 at 12:03pm — No Comments