Home Forex Analysis And Forecasts Intraday Outlooks For EUR/USD, EUR/JPY, NZD/USD, Oil - SEB

Intraday Outlooks For EUR/USD, EUR/JPY, NZD/USD, Oil – SEB

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

EUR/USD: Something’s got to give way. The ever narrowing range is now coming close to the apex point so something’s soon got to give way. As earlier elaborated the best fitted pattern, the bearish contracting range/triangle, calls for a downside break. One step closer to a bearish solution was perhaps taken yesterday with the pair being rejected from the former floor (now acting resistance) of the June falling parallel bear channel. More bearish pieces of evidence to be posted breaking 1.1334 hence ending the recent week’s pattern of rising lows.

E-Institutional Views

EUR/JPY: Drifting lower. So far the past days move lower has been a relatively slow drift but should the 133.96 support give way selling will probably turn a more aggressive. Given the very bearish monthly Jan candle and the rejection from the low end of the primary correction range, 136.34/137.77, one should clearly stand ready a new declining phase.

E-Institutional Views

NZD/USD: Ending the correction? The bearish engulfing candle printed in close proximity to the ideal correction target, 0.7588, indicates that we now might have completed a common three wave (a-b-c) correction and hence stands ready to continue the underlying bear trend. In the hourly chart we can also detect what looks like a possible head and shoulders top. So we’re looking for a break of 0.7507 (neckline) to attract more selling.

E-Institutional Views

BRENT CRUDE: Returning buyers in the 55d ma band. A whipsaw market with the market swinging back and forth. Nevertheless the dip down and rejection from the 55d ma band keeps the correction still going hence reaffirming the primary correction target, the former wave four high at 64.84.

E-Institutional Views

'This content has been provided under specific arrangement with eFXnews.'



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments