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

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

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

EUR/USD: Targeting a 1.08 "Equalty point" next. Bulls keep burnishing the dollar. Yesterday's low and bearish looking session close shows that euro supply/dollar demand keeps pouring in to expose the low end of the cloud (at market) and a short-term "Equality point" near 1.08. The next key level after that is 1.0660. Mid body resistance likely at 1.0925. More resistance is likely at the low end of the 55day exponentially weighted moving average band now at 1.1015. Current intraday stretches are located at 1.0810 & 1.0975.

EURUSD

USD/JPY: Bulls disregard the stretch. Bulls just refuse to cut some slack and rein in the dollar despite a notable short-term stretch. The high and bullish looking session close shows persistent demand and this upholds focus on the multi-year high of 124.14, near which a "Triangle" objective and a short-term 261.8% Fibo projection ref also play their parts. Mid-body support at 122.35, ahead of more support at the prior yearly high of 122.04.

USDJPY

USD/CAD: Targeting 1.2510 next. The move higher got legs and it convincingly broke through the 55day exponentially weighted moving average band (1.2315/1.2200 – now acting as dynamic support). The high end of the (Fibo-adjusted) "Cloud" is also at risk with a short-term "Equality point" at 1.2510 lingering as the next upside objective to fill. Supports are also noted in a prior zone of resistance at 1.2388/53. Current intraday stretches are located at 1.2320 & 1.2505.

USDCAD

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