Daily FX Market Comment 17/2

N

nico3725

EUR/USD 1.0729. EUR failed to hold on to the gains made & turned down from 1.0860 itself instead of 1.0900 expected on Friday. Break of some short term supports has imparted some bearishness & EUR should grind lower to 1.0685/75 or 1.0665/55. Resistances are at 1.0765 & 1.0790.

USD/CHF 1.3728. Short term upside thrust to 1.3775/85 or 1.3805/20 is expected. Supports are at 1.3670 & 1.3655/50.

USD/JPY 120.53. The suggested fall of Dollar has stalled near 120.10 on Friday. Short term advances may test 120.80/90 while above 120.40/35. But as long as 120.95/121.15 area contains the upmove, cannot rule out one more decline to 119.95/85.

GBP/USD 1.6069. Cable‘s bearishness continues unabated & is close to 1.6020, which is 61.8 % retracement level of rise from 1.5680 to 1.6570. Prefer to watch how Cable reacts near this level, though short term pictures hint at impending break of 1.6020 targeting 1.5985/75.

EUR/CHF 1.4721. EUR finally broke out of recent range & now looks positive for a rise to 1.4745. Supports are at 1.4705 & 1.4675.

EUR/JPY 129.32. Sell on rise to 129.60/75 with stop above 130.05 for fall to 128.85/70.

EUR/GBP 0.6673. Went close to 0.6710 suggested on Friday. Break of 0.6650 is needed to ease the pressure on Pound.

AUD/USD 0.5907. Short term declines may hold above 0.5890/80 for a rise to 0.5930/40.

USD/CAD 1.5236. Dollar should find support above 1.5210/00 for rise to 1.5280/90.
 
1.0785. No change in view. Resistance near 1.0915/35 has so far managed to contain EUR's strength. It has now entered into correction, which is likely to continue for a while. Supports are at 1.0665, 1.0625 & 1.0560. Cannot rule out testing of any of these supports once more.

USD/CHF.. 1.3610.No change in view. Dollar's corrective phase is expected to last for some time. Resistances are at 1.3705, 1.3775/80 & 1.3835/50.

USD/JPY..120.40. Dollar is yet to pierce 121.50/80 levels convincingly. Break of this level will increase chances of thrust higher towards 122.25/45 or 122.75/80.

GBP/USD..1.6145. Cable failed near 1.6570 itself instead of 1.6645/50. The current decline can find some support near 1.6075/45 levels. Resistances are at 1.6245 & 1.6320/50.Watch these points for future direction.

Regards.
 
EUR/USD 1.0745. EUR moved along suggested lines to test 1.0675 yesterday. Short term bounce is expected to fail in 1.0765/85 area for one more drop to 1.0675/55.

USD/CHF 1.3675. Short term downside probes to 1.3635/15 is to be followed by a rise to 1.3745/50 or 1.3775/90.

USD/JPY 119.30. Short term advances may run into resistance in 119.75/85 area for a fall to 118.95/80. Minor support is at 119.05.

GBP/USD 1.6015. Cable‘s upside attempts are likely to fail in 1.6065/90 window & resumption of downtrend from this area should see it test 1.5885/90.

EUR/CHF 1.4694. Break of support at 1.4670 will push EUR down to 1.4645/40.

EUR/JPY 128.11. EUR’s weakness should continue towards 127.60/50 in the short term, while below 128.55/75.

EUR/GBP 0.6706. One more thrust higher to 0.6730/35 cannot be ruled out. Break of 0.6650 is needed to ease the pressure on Pound.

AUD/USD 0.5911. AUD may trade in 0.5875-0.5935 range for some time.

USD/CAD 1.5199. Dollar may trade in 1.5165-1.5260 range for some time.
 
EUR/USD 1.0708. EUR moved along suggested lines to test 1.0670 yesterday. Short term bounce to 1.0755/70 is now expected while above 1.0665. But it is a bit soon to give up the downside.

USD/CHF 1.3728. Dollar met our suggested target near 1.3785 comfortably. Now Short term downside probe to 1.3665/75 is possible while below 1.3750.

USD/JPY 119.06. No change in view. Short term advances may run into resistance in 119.75/95 area for a fall to 118.65/60 or 118.35/15.

GBP/USD 1.5930. Cable has hit our Daily Vol. target near 1.5895 yesterday warning of some bounce. However short term pictures hint at one more downside attempt near 1.5870/55 while below 1.5955/60.

EUR/CHF 1.4706. No change in view. Play the range 1.4670-1.4735. Break of support at 1.4670 will push EUR down to 1.4645/40.

EUR/JPY 127.47. EUR has turned more bearish than assumed. Its corrective rise is likely to be capped below 127.80/90 or 128.25/30 maximum for fall to 126.35/25.

EUR/GBP 0.6717. One more thrust higher to 0.6740/45 cannot be ruled out. Break of 0.6650 is needed to ease the pressure on Pound. Minor support is at 0.6690.

AUD/USD 0.5907. AUD should trade lower to 0.5870/65. Resistance is at 0.5925.

USD/CAD 1.5153. Dollar should grind lower to 1.5110/00 in short term while below 1.5185/90.
 
EUR/USD 1.0765. Close above 1.0750 on 240 min charts is positive for EUR & it should climb to 1.0785 or 1.0805 in short term. After this rise some consolidation may take place above 1.0740/35 before going higher towards 1.0835/55.

USD/CHF 1.3646. Dollar is moving along projected lines so far. Now Short term downside probe to 1.3620 initially & to 1.3585 later is anticipated while below 1.3685/1.3700.

USD/JPY 119.04. No change in view. Short term advances may run into resistance in 119.75/95 area for one more fall to 118.45/40 or 118.15/05.

GBP/USD 1.5989. Our suspicion about Cable bounce was proved right. Its short term correction is likely to hit 1.6025/45 while 1.5965/50 contains its weakness.

EUR/CHF 1.4696. No change in view. Play the range 1.4670-1.4735. Break of support at 1.4670 will push EUR down to 1.4645/40.

EUR/JPY 128.17. EUR has turned up from close to some retracement level (126.65) on a bigger picture. But it may still fall to 127.30/25 or 126.65/60 as long as its short term corrective rise is capped below 128.30/50.

EUR/GBP 0.6727. Short term range 0.6690 -0.6745 is likely to prevail for some time.

AUD/USD 0.5946. Got this wrong. It should creep up to 0.5965/70 now while above 0.5920/15.

USD/CAD 1.5080. Dollar’s short term decline may hold above 1.5040/35 for a bounce to 1.5115/30.
 
EUR/USD 1.0823. Support at 1.0740 held well yesterday for the suggested rise to 1.0835. Now 1.0790/80 area should offer support for rise to 1.0865 or 1.0895.

USD/CHF 1.3567. Dollar is moving along projected lines so far. Now Short term downside probe to 1.3490/80 is anticipated as USD will find it difficult to pierce 1.3620/35.

USD/JPY 118.34. Dollar was well contained yesterday & the suggested fall to 118.05 materialized. In very short term, 118.55/60 should halt its upside attempts for a fall to 117.85/75.

GBP/USD 1.5940. Short term grind lower to 1.5890/75 is looked for while below 1.5980/85.

EUR/CHF 1.4685. No change in view. Play the range 1.4670-1.4735. Break of support at 1.4670 will push EUR down to 1.4645/40.

EUR/JPY 128.05. No change in view. EUR may still fall to 127.30/25 or 126.65/60 as long as its short term corrective rise is capped below 128.30/55.

EUR/GBP 0.6787. EUR’s strength should carry it up to 0.6825/30 now. Support is at 0.6760/55.

AUD/USD 0.5990. Short term upside attempts may stall near 0.6010/30 for some consolidative activity.

USD/CAD 1.5035. Dollar’s short term decline may extend to 1.4980/75, after which bounce to 1.5065/1.5100 is anticipated.
 
Quote from SethArb:

tonight at 107.03 and 107.01 march USD / EUR 2003 contract

they got 1/2 done and the market is slowly lifting
More...

If they don't lift the dollar soon all hell could break loose. The wave pattern has completed 5 waves down but the failure to lift has me worried.
 
of the USD / EUR futures contract showing volume
from this evening 's sunday session ?

my vendor does not show globex volume for this contract

and I am sure I saw alot go near the lows
around 7:05- 7:10 pm EST
 
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