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

Intraday Outlooks For EUR/USD, USD/JPY, AUD/NZD, Gold – SEB

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

EUR/USD: Rise still looks correctional. Really not much to add to recent comments; the rise from 1.1090 clearly looks correctional to us and as such a bearish outcome continues to be expected.

USD/JPY: Should test the 122.00/10 area. So far the market has twice failed (yesterday and today) to maintain a move above 121-ish. Nevertheless the best fitted pattern still points to at least a 122.00/10 test possible higher. The biggest problem that we currently is facing is whether we have completed a three wave correction down to the recent lows (hence standing ready to resume the longer term trend) OR building a bearish pattern (which will gain credibility below 118.60) for a much deeper reaction than 116.15.

AUD/NZD: Finally on the move? The long lasting correctional sequence lower has been murder to directional ideas for months, but today’s RBNZ cut could be the tiebreaker needed. A bullish looking session in/beyond resistance at 1.1165\1.1290 should highlight potential and lift the bar back to the early Jul best at 1.1430.

Spot Gold: Wave count revised. What shouldn’t happen just did… A positive wave structure lived well until the 1,105-ref was violated and it was. Now the whole Jul-Aug ascent just looks like a momentous correctional corrective “A-B-C” structure – at least as long as the 1,148 high is not reclaimed.

‘This content has been provided under specific arrangement with eFXnews.’



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments