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

Intraday Outlooks For EUR/USD, GBP/USD, EUR/JPY – SEB

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

EUR/USD: Notable losses incurred yesterday. It was a major euro loss recorded yesterday, showing convincing supply hitting the market. The high end of the {bullishly tilted) "Cloud" cushioned the move but until showing evidence of restored balance there is risk for more selling going through. Mid-body resistance is located at 1.1255 and the next attraction/support below in sight at 1.1050/25. Sell a lower European range extension or on intraday bearish hints closer to the mid-body ref. Stop over 1.1295.


GBP/USD: Checking supposed support below. ­There has been some selling going through in cable too and the recently broken 233day moving average band {1.5685/1.5550} could be re-tested, but dollar gains here are thought to be come lesser than in EUR/USD. Near-term punters should consider shorts on bearish hints closer to mid-body resistance at 1.5775, while investors looking to build/add to longs should focus on potentially bullish hints within the "band".


EUR/JPY: Bullish consolidation or top? Price action of late is bearish, indicating slightly worse odds for a bullish "Triangle" (even though it is still a possibility) in favor of either a bullish "Flag", then with target/support at 137.60 or a more profound top targeting a test deep back into the combined 55/233 exponentially weighted moving average bands (137.00/135.30). The latter would be favored on a break below 137.60.


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