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

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

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

EUR/USD: And the slope just gets slipper. The thought of a rebound following a sub-1.0760 test was proven wrong as the fallout just continues. Next support area at 1.0663/1.0595 (short-term Fibo, 1.1098-1.1534 range breakout target, a short-term descending pivot line & a long-term lower parallel) is under the gun. Mid-body resistance likely around 1.0776. The volatility increase has widened the intraday swings around the 21hr exponential moving average +/- 0.75%, so stretches are now located at 1.0635 & 1.0800.

EURUSD

USD/JPY: Bearish Doji observed. Price action left more for bulls to wish for. There was (still is) known good resistance in the 122/124-zone, but its strength was a bit surprising. The potentially bearish candle added in the wake of yesterday's upside rejection, contests short-term bullish trend-following tools. A move below supports at 120.85/48 would show sellers' near-term initiative and threat lower dynamic supports at 120.10 & 119.37. Current intraday stretches are located at 120.50 & 122.05.

USDJPY

EUR/GBP: Next ref on south at 0.7022. The euro is losing broadly and deeply and the pound is one clear-cut beneficiary in the rout out of the common currency. A long-term ref at 0.7108 was yesterday bearishly lost and despite a severe short-term downside stretch, this moves sight to the next minor ref at an Apr04 reaction high of 0.7122. Mid-body resistance likely at 0.7137. Current intraday stretches are located at 0.7060 & 0.7150.

EURGBP

USD/CAD: Time for a small downside reaction. Having met the 1.2698 key resistance (and for a short while overrunning it by 7 pips) there should now be at least a short term setback possible towards the low 1.26's maximum 1.2570. Thereafter the next lift up above 1.2800 is expected to take place.

USDCAD

This content has been provided under specific arrangement with eFXnews.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments