Back
6 Feb 2015
FX majors technical outlook – Kshitij Consultancy
FXStreet (Barcelona) - Research Analysts at Kshitij Consultancy give the technical outlook for FX majors, noting that the a slight dent can be seen in the USD in the Asian trade.
Key Quotes
“Wee bit of dent in overall Dollar strength with Pound rising and Euro putting up a bit of a fight. But, overall trend remains in place for now.”
“Decent rise in the Pound (1.5331), which has broken above the 1.5250 range resistance mentioned yesterday. Given the tendency of Pound to stage V-shaped recoveries, there can be chances of seeing 1.5575 in a couple of weeks.”
“The Euro (1.1465) has also recovered, but remains below the 21-day MA at 1.1490 for now. While this holds, it could still fall back towards 1.1300, maybe lower.”
“Note that the EURGBP (0.7478) and the Euro-Yen (134.59) are still weak in the bigger picture, even though the Euro-Yen has not dipped to 132 yet. Resistance is seen at 135.40 on the Cross.”
“Dollar-Yen is trading very quiet while all the action is in the Euro. Some volatility is due soon now and there are equal chances of seeing a dip towards 116.35 or a rise towards 118.40.”
“The Aussie has seen a rise to 0.7858 (just outside the 0.7650-7850 range we mentioned yesterday). A fresh rise past 0.7850 could set up a further rise towards 0.80 within the downtrend in force from 0.9401 (01-Sep-14).”
Key Quotes
“Wee bit of dent in overall Dollar strength with Pound rising and Euro putting up a bit of a fight. But, overall trend remains in place for now.”
“Decent rise in the Pound (1.5331), which has broken above the 1.5250 range resistance mentioned yesterday. Given the tendency of Pound to stage V-shaped recoveries, there can be chances of seeing 1.5575 in a couple of weeks.”
“The Euro (1.1465) has also recovered, but remains below the 21-day MA at 1.1490 for now. While this holds, it could still fall back towards 1.1300, maybe lower.”
“Note that the EURGBP (0.7478) and the Euro-Yen (134.59) are still weak in the bigger picture, even though the Euro-Yen has not dipped to 132 yet. Resistance is seen at 135.40 on the Cross.”
“Dollar-Yen is trading very quiet while all the action is in the Euro. Some volatility is due soon now and there are equal chances of seeing a dip towards 116.35 or a rise towards 118.40.”
“The Aussie has seen a rise to 0.7858 (just outside the 0.7650-7850 range we mentioned yesterday). A fresh rise past 0.7850 could set up a further rise towards 0.80 within the downtrend in force from 0.9401 (01-Sep-14).”