EUR/USD fell hard on Friday, as the Non-Farm Payroll number disappointed. The pair looks very, very weak at this point, but the range has been established between 1.40 and 1.45 – and as we are getting fairly...
Despite the pressure on the majors and relative shift towards risk aversion, the Aussie is being resilient with only a slight consolidation in its current rally.
If a material base might be in place for a possible long term reversal, we haven’t seen yet a real confirmation of the bullish bounce started in July.
In our last analysis, we were expecting an extension of the decline towards 0,78 which has been reached today in a very high pace.
The pair continues to trade flat just above its historical low (76,00). A material might be in place but we now need to see a break above 77,70 (recent high) to confirm a bullish reversal.
With a break below its daily rising trendline yesterday, the Cable has confirmed a bearish bias thus we expect a continuation towards next key support at 1,60 (weekly bollinger band).
The pair is now under pressure after a new fail to establish above 1,45. Daily studies are pointing to further losses over the coming sessions.
Concerns over the spreading of the European crises pressure the euro.
The USD/CAD pair fell again on Thursday, although did not manage to break through the bottom of the hammer from Wednesday. This shows that there is still some support in the 0.97 area, and it will have...
The USD/CHF pair fell again on Thursday as traders continue to buy the Swiss Franc against most other currencies. The pair tested a weekly trend line and failed to the upside a couple days ago, and as...
