UOB out with a client note/recommendations 1 July 2016 Courtesy of our friends at efxnews.com While our tech guru Greg is tied up on the ForexLive ACT course here's someone else's T/A for those of you so inclined...
EUR/USD dropped quite a bit on Brexit but showed some strength as well. It could further fall, say the people at BNP Paribas: Here is their view, courtesy of eFXnews: The still-elevated level of GBP volatility renders downside GBP structures very expensive after last Thursday’s UK referendum...
One week after the big Brexit crash and as a new quarter begins, it is time to lift our heads from the near term and look forward...
EURUSD Daily Analysis EURUSD (1.109): EURUSD formed an outside bar on the daily session yesterday after QE and rate cut comments from the BoE Governor, Carney. The price action from the past three days shows a kind of consolidation taking place near the minor resistance level at 1...
The Australian and New Zealand dollar both weathered the Brexit quite well, but this may not be the end...
GBP/USD resumed its falls on Carney’s speech but there may be more to come, with sterling not falling alone: Here is their view, courtesy of eFXnews: Despite the sharp fall in GBP so far, we still see it as vulnerable to further declines...
Carny made a special appearance and offers easing during the summer as a reaction to Brexit. He makes a heavy hint that they will take a decision in August. This speech was scheduled only yesterday and is seen as part of the damage control. GBP//USD slips to 1.3330. Update: it already slips to 1...
No surprises with Canada’s GDP: a rise of 0.1% month over month. Producer prices in Canada jumped by 1.1% m/m, much more than 0.4% predicted but remained negative at -1.1% y/y. USD/CAD remains stable. The Canadian economy suffered from the fall in oil prices but the economy is quite diverse...
The Australian dollar is facing elections and a rate decision in the next few days. What’s next? ANZ has a bearish outlook: Here is their view, courtesy of eFXnews: Brexit is now a reality. The damage is done and we now have to navigate through an environment of heightened uncertainty...
FxWirePro: AUD/CHF Faces Strong Support at 0.7230, Good to Buy at Dips Major resistance – 0.7380 (61.8% retracement of 0.7574 and 0.70323) Major support – 0.7230 (daily Tenkan-Sen) AUD/CHF has recovered sharply after making a low of 0.72317 yesterday. It is currently trading around 0.72994...
Technical Analysis of USD/CAD for July 1, 2016 General overview for 01/07/2016: The corrective cycle is evolving towards a more complex and time-consuming pattern. The leg c of this pattern might be completed soon, and the projected target is at the level of 1.2857...
Technical Analysis of EUR/JPY for July 1, 2016 General overview for 01/07/2016: The ongoing complex corrective cycle in wave iv can be completed anytime...
Technical Analysis of USD/CHF for July 01, 2016 USD/CHF is expected to trade with a bearish bias as key resistance is at 0.9800. The pair failed to break above its horizontal resistance and overlap at 0.9800 after having tested it for at least two times yesterday...
Technical Analysis of NZD/USD for July 01, 2016 NZD/USD is expected to trade with a bullish bias. The pair is turning up and is expected to post further rebound. Meanwhile, a bullish cross has been identified between the 20-period and 50-period moving averages...
Technical Analysis of GBP/JPY for July 01, 2016 GBP/JPY is expected to trade with a bearish bias. The pair is currently challenging its key resistance at 138, while the relative strength index lacks upward momentum. As long as 138 holds as the key resistance, a drop toward 135 is possible...
DAX30 Faces Strong Resistance at 9860, Break Above Targets 9940/100084 Major resistance – 9860 (21 day MA) The index has broken high 9718 (High made after Brexit) and jumped till 9795. It is currently trading around 9668. DAX30 should close above 9860 for further bullishness...
Technical Analysis of Gold for July 1, 2016 Gold has broken out of the triangle consolidation and is making higher highs and higher lows. The price is heading at least towards the $1,360 high with expectations of breaking it and reaching $1,400 by the end of next week...
FxWirePro: CAD/JPY Struggles to Close Above 80, Good to Sell on Rallies Major resistance- 79.95 (55 4H EMA) CAD/JPY has made a high of 79.95 yesterday and started to decline from that level. It is currently trading around 79.19. Short term trend is bearish as long as resistance 80 holds...
