Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Intraday FX: EUR/USD, GBP/USD, AUD/USD, EUR/CHF

Published 03/20/2015, 04:00 AM
Updated 07/09/2023, 06:31 AM

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

EUR/USD: Reaction already completed? The overlapping of 1.0620 was certainly not what we was looking for and the move down to 1.0613 has clearly damaged the case for a continued upward correction. To reinstate a correction case the pair must return above 1.0796 and as long as not doing so a neutral/bearish view persists.

EUR/USD

GBP/USD: Rechecked the former triangle floor. The Wednesday spring bottom at least led to a recheck (and validation?) of the previously broken B-wave triangle floor. We should perhaps expect to see some further consolidation between the recent low point and the triangle floor i.e. within Wednesday’s range (1.4635-1.5155) before continuing the descent towards next the 1.40-area (long term key support).

GBP/USD

AUD/USD: Keep a close eye on the 0.7591 low. With overhead dynamic resistance (55day exponentially weighted moving average band & low end of the Fiboadjusted "Cloud"), it looks like an admittedly volatile, but still corrective structure up from the Mar11 low. In this perspective the intermediate low at 0.7591 becomes a "Bwave low" which if broken would spell fresh lows – initially towards a long-term "Equality point" at 0.7510, but in the weeklies more ambitious targets can be traced out in the lower 0.73s.

AUD/USD

EUR/CHF: The key day reversal points lower. Yesterday the pair made a false break higher, was rejected from the bearishly sloped 55d ma band and ended the day with a bearish key day reversal. In the hourly chart there’s also a completed (given the violation of 1.0561) three wave corrective pattern higher. The conclusion must hence be that the pair now will be making an attempt to push lower during the coming days and that at least a test in the 1.0470-area will be seen. GBP/CHF also seems to be turning the corner to the downside.

EUR/CHF

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.