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

Intraday Outlooks For EUR/USD, USD/JPY, AUD/USD, USD/CAD – SEB

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

EUR/USD: Near-term offered all of a sudden. There are still too many moving parts, or rather none at all, when the future of Greece within th euro (or outside) is on the table. But all of a sudden sellers show some near-term initiative, testing an 'Equality point' at 1.1263. Additional losses from here would quickly bring focus back on a recent 1.1151 low. Current intraday stretches are located at 1.1205 & 1.1445.


USD/JPY: Turn lower from here or at 124.50? The near-term move higher became surprisingly impulsive while reaching a near-term 161.8% Fibo projection ref at 123.76. Price action is till bullish, but should the market turn sour again, it should happen here or else extend into the mid-124s to advertise for sellers. For sellers to prove they are regaining control, they must force the pair back below local support at 123.22/02.


AUD/USD: Right hand shoulder completed. With the rejection from the 55d ma band and the latest days bearish price action it is probably fair to conclude that the right hand shoulder of the head and shoulders correction top formation has been completed. The pair should hence stand ready to thrust lower. A move below 0.7685 will further enhance a bearish call.


USD/CAD: Contesting nearby resistance. Price action is near-term bullish and a short-term correctional low is likely in pace (but it needs confirmation above 1.12361). But the short-term 'Ichimoku Cloud' is flat topped and bearishly tilted. A bullish break may however materialize, but a move through the 'Cloud' when it looks like this 'Cloud' usually fails at the 1st attempt, sinks back into it and makes the break on the 2nd go.


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