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Technical Analysis – EURUSD neutral with support from Ichimoku cloud

Posted on July 1, 2015 at 7:21 am GMT

The intra-day bias for EURUSD has turned bearish after opening lower on Wednesday. Looking at the daily chart, prices are below the tenkan-sen line. Immediate support is provided by the kijun-sen line and the Ichimoku cloud. RSI is below 50 and this supports the downside bias. A strong move back into the cloud could see prices target the low of 1.0953. To the upside, a decisive move above the tenkan-sen line could push prices towards the June 18 high of [..]

European Session – Euro see-saws as Eurogroup schedules teleconference on Greece

Posted on June 30, 2015 at 2:53 pm GMT

The euro remained off Monday’s lows and retested the 1.12 level on hopes for a potential deal between Greece and its creditors. There have been a lot of rumours swirling throughout the day but the latest news is that Eurozone sources said that the Eurogroup will hold a teleconference on Greece today at 17:00 BST. Greece’s 1.6 billion euro payment to the IMF is due today and Greek Finance Minister Yannis Varoufakis said that it will not be made, and [..]

Eurozone flash inflation for June meets expectations, helps euro rebound

Posted on June 30, 2015 at 11:15 am GMT

Eurozone flash inflation for June was in line with expectations but slightly lower compared to the previous month, as the single currency area confirmed it was not flirting with deflation but that inflation was still relatively very low. Specifically, the headline number came in at 0.2% compared to last month’s 0.3% annual rate. Falling energy prices – down 5.1% year-on-year – have been holding inflation down. Excluding energy, consumer prices were up 0.9% compared to the previous year. The so-called [..]

Asian session – Euro gives back gains as uncertainty reigns

Posted on June 30, 2015 at 7:29 am GMT

The euro dropped from the previous day’s highs, after it confounded predictions of a drop following the weekend’s dramatic events in Greece and instead managed to rise to as high as 1.1277. The euro was off about a cent from those highs at 1.1173 during the end of the Asian session. It is worth noting that Monday featured a huge range from 1.0950 to 1.1270. In Greece itself, the domestic situation was becoming more difficult as bank closures and cash [..]

Technical Analysis- EURGBP keeps downside bias in lower Bollinger Band

Posted on June 30, 2015 at 7:17 am GMT

On Monday EURGBP dipped below the key 0.7000 level for the first time since November 2007 and touched a low of 0.6987. It has since recovered and bounced to a high of 0.7167. The trend has been neutral after the decline from 0.8037 (November 2014) to 0.7013 (March 2015). EURGBP is trading in the lower Bollinger Band and the intra-day bias is to the downside. RSI is below 50 and supports the bearish bias. A break below 0.6987 would see [..]

European Session – Euro recovers 1.11 handle after shock from Greek capital controls

Posted on June 29, 2015 at 2:36 pm GMT

After markets reacted sharply to Greece imposing capital controls and shutting down its banks the markets calmed down in Europe and the euro recovered from its Asian session tumble. Risk aversion still prevails though as the chances of a Grexit have now increased and Greece is likely to default on a Jun 30th IMF payment as the country’s current bailout program expires on the same day. On Sunday July 5th, Greek citizens have been called to vote in a referendum [..]

Technical Analysis – EURCHF turns bearish after SNB-led rally fizzles out

Posted on June 29, 2015 at 12:51 pm GMT

EURCHF reversed from its June trading range within the Ichimoku cloud to drop below the cloud. The pair fell by just under 1% from yesterday’s close before intervention by the Swiss National Bank pulled it higher to 1.0439 from a low of 1.0312, before settling around 1.0372. The intra-day bias was positive immediately after the SNB intervention but both the RSI and stochastics are now looking bearish. Without further intervention, EURCHF is in danger of breaching below the support from [..]

Greek referendum decision causes turmoil in markets; Tsipras in last ditch effort to extend bailout

Posted on June 29, 2015 at 10:08 am GMT

The shock announcement on Friday by the Greek prime minister to put the bailout agreement to the Greek public caused turmoil in European markets on Monday. Greek PM Alexis Tsipras killed any hopes of an agreement being reached at Saturday’s Eurogroup meeting after he surprised everyone by announcing a referendum on the latest bailout terms for July 5. It’s been reported that the European Commission had just made an improved offer on the creditors’ bailout proposal before prime minister Tsipras [..]

Asian Session – Markets volatile as Greece imposes capital controls; China cuts key rates

Posted on June 29, 2015 at 7:32 am GMT

The euro plummeted 2% against the dollar following the developments over the weekend. After the surprise announcement of a referendum on the bailout conditions by Greek PM Alexis Tsipras, the Eurogroup on Saturday decided not to extend the existing bailout beyond the current June 30 deadline. On Sunday, the European Central Bank announced that they will not be expanding the emergency liquidity assistance and will be maintaining it at 89 billion euros. This forced the Greek government to impose capital controls [..]

Technical Analysis – EURJPY bearish below 200-day moving average, support at cloud

Posted on June 29, 2015 at 7:26 am GMT

EURJPY gapped down at the open of trading on Monday, opening in Asia at 135.07 versus Friday’s New York close at 138.37. Prices fell below the 200-day moving average all the way down to the top of the daily Ichimoku cloud and the 50% Fibonacci of the 126.08 to 141.04 rise. The intra-day bias will remain bearish below the 200-day moving average and as long as the RSI is in bearish territory below 50. The 50% Fibonacci at 133.56 will [..]

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