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EUR/USD operating slightly off its intraday highs








FXstreet.com (New York) - The EUR/USD foreign exchange rate has hung onto its robust gains during the entirety of the US session, still navigating slightly off its intraday highs at 1.3070.


EUR/USD trading above its 20 and 50-day SMA


Presently, the EUR/USD technical pair is still operating positively at 1.3062, up +0.38% in these moments. Technically speaking, the pair is trading above both its 20 and 50-day SMA.


EUR/USD a sell above 1.3055


According to the Danske Research Team, “We look to sell the EUR/USD at 1.3055, targeting 1.2934. Moreover, we recommend placing a stop at 1.3110. Resistances are found at 1.3076, onto 1.3110. On the decline, a break below 1.2985 will open up supports at 1.2956 and 1.2934.”


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July 01, 2013
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USD/JPY rockets to session highs






FXstreet.com (New York) - The USD/JPY foreign exchange rate surged to session highs Tuesday during US trading, advancing steadfastly as the USD strengthens across the board.


USD/JPY trading at resistance


In these moments, the USD/JPY technical pair is botching a robust gain of +1.05%, establishing fresh highs at 100.71. According to the Danske Research Team, following a break above the 100.47 resistance, the pair will face the next measure of correction at 100.73.


USD/JPY path clear towards 105.00/106.00?


According to Head of Global Markets Research Tim Riddell at ANZ, “As the USD/JPY continues towards the secondary squeeze target of 100.00, the biggest concern is that this is not merely a sharp corrective squeeze, but could be an early resumption of JPY weakness and a push towards 105.00-106.00.”


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July 02, 2013
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AUD/USD eases off highs






FXstreet.com (New York) - The AUD/USD technical pair retreated off session highs at 0.9183 Thursday, easing slightly during US trading in recent moments.


AUD/USD holds onto the majority of its gains


At the time of writing, the AUD/USD is still notching steadfast gains at +0.80% above it’s opening, navigating the region of 0.9160 presently. The Mataf.net analyst team has identified the next short-term measures of resistance at 0.9181 (session highs), then 0.9263, and 0.9335. Alternatively, support lies below at 0.9027, then 0.8955, and ultimately 0.8873.


AUD/USD slide below 0.85/90 2014 range


According to the TD Securities Team, “After two months of underperformance, we remain more bearish on the AUD overall. In fact, we have changed our call on the RBA (now expecting another 25bps rate cut by year end) and have accordingly cut our AUD outlook through this year and next. We now forecast the AUD/USD to trade closer to 0.90 for the second half of this year, and slide to the 0.85/90 range over 2014.”




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July 04, 2013
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Commodities Brief – Precious metals in retreat, crude maintains 101.00






FXstreet.com (New York) - Precious metal prices retreated slightly Thursday, having been confined to a tight range and devoid of any breakouts during a rather tranquil session.


Gold neutral outlook intraday


Gold prices have traded slightly lower during US trading, albeit in a muted consolidation on accounts of the American July 4 holiday. However, the yellow metal remains within a tight range, and accordingly a neutral stance is recommended. At the time of writing, gold prices are trading at USD $1248.30 per oz. Thursday.


Silver bullish rebound likely


Silver prices retreated towards a broken flag pattern, remaining entrenched above the 19.30 support level, still allowing for a bullish rebound. At the current levels, the price of silver has now moved to USD $19.55 per oz. during US trading.


WTI crude oil bullish bias prevalent


WTI crude oil is retesting 100.70-support level, looking to long dips towards 100.50, expecting another upside attempt. However, settling back below 100.70-100.50 may invalidate the intraday bullish bias and lead to a deeper downside correction. In these moments, WTI crude oil is negotiating a price of USD $101.08/bbl Thursday.




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July 04, 2013
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USD/CHF moves above resistance to test intraday highs






FXstreet.com (New York) - The USD/CHF foreign exchange has been swinging slightly near the top end of its trading range today, clinging to widespread gains during US trading.


USD/CHF breaks past resistance


At the time of writing, the USD/CHF pair is operating at 0.9581, just shy of a session high of 0.9585, securing a gain of +1.18% during US trading. Following a move above the 0.9568 resistance, the Danske Research Team points to resistances at 0.9651. On the decline, the pair will face supports at 0.9447, ahead of 0.9438, and 0.9407.


USD/CHF positive expectations remain


“The USD/CHF is still trading around 0.9485, but failed to stabilize above Linear Regression Indicators supporting the intraday positive outlook. In general, we hold on to our positive intraday expectations today unless the pair breaks 0.9400 levels supported by the bullish harmonic pattern.” notes the Technical Analyst Team at ICN.com.




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July 04, 2013
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GBP/USD back above 1.4900




FXstreet.com (Córdoba) - The GBP/USD managed to trim some of its recent losses, climbing back above 1.4900 as the immediate NFP effect fades.


GBP/USD still feeling BoE pressure


GBP/USD fell to a fresh 4-month low of 1.4856 in the wake of US employment figures and still weighed by BoE dovish statement, but found buyers and it is staging a corrective movement. At time of writing, GBP/USD is trading around 1.4910/15, where it records a 1.0% loss on Friday, having dropped over 400 pips within the last 48 hours.


GBP/USD levels to watch


As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates next resistances at 1.4950 and 1.5000, while she places supports at 1.4860, 1.4830 and 1.4790.




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July 05, 2013
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USD/CHF trading at resistance




FXstreet.com (New York) - The USD/CHF technical pair retraced higher Friday, operating in these moments at calculated resistance which seems to have prevented any sustained push.


USD/CHF price explosion above 0.9620


“Traders continued to take the USD/CHF upwards above 61.8% Fibonacci level approaching the intraday resistance at 0.9620. Technical indicators remain positive and thus, our bullish scenario remain intact. A sustained break above 0.9620 will bring upside price explosion.” notes the ICN.com Technical Analyst Team.


USD/CHF path higher marked by barriers of correction


Amidst the recent easing, the USD/CHF is still entrenched in positive territory, operating at 0.9628 presently, gaining +0.65% Friday. The Danske Research team points to resistances for the USD/CHF at 0.9624, then 0.9651, and 0.9666.










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July 05, 2013
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AUD/USD eases off highs in risk-off movement




FXstreet.com (New York) - The AUD/USD foreign exchange rate eased substantially in an instant Tuesday, triggered by a sweeping bout of risk aversion that is permeating the market.


At the time of writing, the AUD/USD is now trading at 0.9151, still recording an advance of +0.21% above its opening, though well off its highs that were in excess of the 0.9200 level (0.9203 intraday high).


AUD/USD technical bias


According to Karen Jones, an analyst at Commerzbank, “The AUD/USD faces risks in the near-term as a hold below the 0.9388/0.9404 resistance leaves the overall probability of a continued downside.”


In addition, “The AUD/USD’s move to the upside during yesterday and the Asian session today was triggered by a failure to stabilize below Linear Regression Indicator 34 and 55. However, the pair is within a descending channel, as stability below the key resistance level of the descending channel at 0.9290 keeps the possibility of extending the overall negative bias.”


The AUD/USD has stubbornly clung to the 0.9145 region (200-day SMA), as this is a critical level that will determine the pair’s near-term directional trend. Most recently, the pair weakened off the 55-day MA, as this region proved too much to handle – immediate resistance lies at 0.9145, onto 0.9190.






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July 09, 2013
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AUD/USD, more signs of bottoming



FXstreet.com (Buenos Aires) – The FED did not failed in bringing life to a comatose market: majors are strongly up against the dollar, with the AUD nearing 0.9200 after mixed headlines hitting the wires: QE will start “soon” and QE3 may end entirely this year, although further improvement in employment is needed. The news however are putting the greenback on its back foot, as the American currency continues to shed gains across the board


Signs of bottoming


As for the AUD/USD, the pair surged over 70 pips already, and approached to 0.9200, having been earlier today as high as 0.9233. According to Valeria Bednarik, FXstreet.com chief analyst, “the pair continues giving signs of a probable bottom just around 0.9000, surging over the European session to a fresh 1week high. In the daily chart, a round bottom is forming these days, with its neckline around 0.9350, late June daily highs. Steady gains above the level should point for a stronger recovery in the pair, up to 0.9650 area over the upcoming days. Only a price acceleration below 0.9000 will now deny the possibility on a recovery and see the return of the bearish trend.”




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July 10, 2013
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GBP/USD dips contained by 1.5060



FXstreet.com (Córdoba) - The GBP/USD saw a quick yet short-lived drop at the beginning of the American session in the wake of disappointing US jobless claims.


GBP/USD dips below 1.5100


GBP/USD dropped nearly 50 pips after the data, piercing below the 1.5100 mark, although the dip was contained by the 1.5075 level. At time of writing, the pair is trading at the 1.5095 zone, where it records a 0.6% gain on Thursday.


GBP/USD loses bullish shine


"The hourly chart shows an increasing bearish potential, with price struggling around 20 SMA and indicators heading south below their midlines, yet only below 1.5050 bears will gain some control over the pair", says Valeria Bednarik, chief analyst at FXstreet.com. "In the 4 hours chart technical readings hold in positive territory turning flat after erasing overbought readings which limits for now the downside".




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July 11, 2013
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