Home Forex Analysis And Forecasts Intraday Outlooks For EUR/USD, USD/JPY, EUR/GBP, SP500 - SEB

Intraday Outlooks For EUR/USD, USD/JPY, EUR/GBP, SP500 – SEB

The following are the intraday outlooks for EUR/USD, USD/JPY, EUR/GBP, and S&P500 as provided by the technical strategy team at SEB Group.

EUR/USD: Near-term bullish added. A potentially near-term bullish candle was added yesterday, though uncertain for how a big correction it may have baring into. The market likes it best inside a narrow 1.0580-1.0650 'Box' yesterday and it has to be violated for more directional information. Over 1.0650 would then focus to 1.0695 & 1.0720. The descending 8day 'Tenkan-Sen', now at 1.0840, ought to be tougher resistance to break. Current intraday stretches are located at 1.0555 & 1.0665.

EURUSD

USD/JPY: There are still bids at support. The marginally fresh (<120.85) low became brief with buyers immediately responding at the (Fibo-adjusted) 'Tenkan-Sen' and nearness to the Feb 120.48 reaction high. Over 121.67 would become renewed bullish for a fresh high over 122.04. Bears on the other hand would be happier with a break back under 121.25. Current intraday stretches are located at 120.60 & 122.10.

USDJPY

EUR/GBP: A notably large bullish candle added. A notably large candle was added yesterday and its stands in contrast with the still declining short-term trend-following 'Tenkan-Sen' & 'Kijun-Sen' lines – providing dynamic resistance at 0.7150 & 0.7230, together with near-term Fibo projections. Mid -body support is building around 0.7105, but also under 0.7085 and later 0.7035 is needed to get the prevailing backdrop downtrend back on track. Current intraday stretches are located at 0.7075 & 0.7165.

EURGBP

SP500: Targeting 2,700/82 from here. A buyers' response turned into near-term bullish initiative yesterday. The high and bullish looking session close shows renewed support likely at 2,051. Current intraday stretches are located at 2,038 & 2,070.

SP500

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