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RussianTechnical Analysis
Technical Analysis
EURUSD: Bearish, Threatens Further Downside Momentum
Having reversed its corrective recovery, the pair is on the verge of resuming its broader weakness. This will open the door for a run at the 1.2620 level, its Jan 2012 low. Further down, support stands at the 1.2587 level followed by the 1.2479 level. Its daily RSI is bearish and pointing lower supporting this view.
By Mohammed Isah | 23:31 GMT | FX Tech Strategy
Trading Ideas on GBP/USD, AUD/USD and USD/CHF
DOllar-Swiss saw an intraday break above its important Resistance at 0.9512 but has come off from its high of 0.9520. Our view remains the same. The overall bullish view remains intact. As mentioned in our weekly view, 0.9512 will now be an important Resistance level to be watched and a strong break above this Resistance will open doors for a strong rally to 0.9900-1.0000 going forward.
20:23 GMT | Kshitij Consultancy Service
USD Index (USDX) Pushes Above 2012 High; 83.60 In Sight
Risk aversion continues a firm grip on the markets and the USD continues to gain from safe haven flow. After consolidating briefing below 82.00, the USDX pushes above this resistance and 2012 high and is at the highest level sine September 2010. This coincides with the EUR/USD falling below the 2012 low and cracking the 1.26 handle.
By Fan Yang | 20:21 GMT | FX Times
EUR/USD – Bullish Divergence At Key Support Pivot Suggests Consolidation
The EUR/USD fell from slightly above 1.28 starting in the 5/22 Asian session after it developed a bearish divergence with the RSI in the 1H chart. It has since fell sharply but is now testing (and cracking) the 1.2625 support pivot see in the daily chart below. In doing so, it has developed a bullish divergence with the RSI in the 1H chart.
By Fan Yang | 20:16 GMT | FX Times
Euro Searches For Support, EU Summit To Provide Little Relief
The Euro bounced back from a fresh yearly low of 1.2614 amid the renewed effort to address the sovereign debt crisis, but the threat of a Greek exit may continue to drag on the single currency as European policy makers continue to move in their own interest.
By David Song | 20:09 GMT | DailyFX
BoJ Leaves Monetary Policies Unchanged; USD/JPY Drops
The Bank of Japan met during the 5/22 Asian session to discuss monetary policy. The market has been pricing in more stimulus even though Shirakawa had spoke again st it. The BoJ added 10 tillion yen to its asset purchase program last month to make it 40 trillion yen, but kept it there this month. The overnight lending rate was also left below 0.1%.
By Fan Yang | 17:22 GMT | FX Times
EURUSD Drops to 2012 Low but Don’t Get Caught Chasing
This morning's action may compose the 'flush' before a larger correction takes hold. There are no setups to short the USD here with a sensible stop. Sure, the USD may extend a bit beyond current levels but reward/risk on USD longs is no longer favorable (except maybe against the Yen). HUGE levels have given way, most notably the January low at 12623 in the EURUSD.
By Jamie Saettele | 17:00 GMT | DailyFX
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