Home Forex Analysis And Forecasts Forex Analysis: Intraday Outlooks For EUR/USD, EUR/GBP, Oil - SEB

Forex Analysis: Intraday Outlooks For EUR/USD, EUR/GBP, Oil – SEB

The following are the intraday outlooks for EUR/USD, EUR/GBP, and Oil as provided by the technical strategy team at SEB Group.

EUR/USD: Also testing the mid/high-1.11. Mid-body support was at large respected yesterday and a near-term "Equality point" at 1.1135 is exposed for a test before selling is thought to resume. Supports at 1.1025 & 1.0970 must however be lost to get the key 1.0925 ref back into sight. Current intraday stretches are located at 1.0980 & 1.1150.

EURUSD

EUR/GBP: Bear candle closely observed. A short-term descending trendline, a 78.6% Fibo retracement ref and the low end of the (Fibo-adjusted) "Cloud" were confirmed acting as resistance yesterday. A bearish candle as a result should be monitored closely and loss of supports at 0.7080/50 would again start exposing a recent low of 0.6935. Current intraday stretches are located at 0.7040 & 0.7150.

EURGBP

Brent Crude: Reacting to short-term stretch. Too low, too fast. A potentially near-term bullish "Doji" was printed yesterday as sellers lack strength to push into a wider then -8% deviation from the monthly average. This calls for consolidation or a small correction rechecking resistance at 54.85\55.60 before extending losses again.

Brent Crude

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