11-15-2019, 09:28 AM
Technical Overview of EUR/USD and USD/JPY Currency Pair
EUR USD
EUR traded higher against USD and closed at 1.1021
· Early bounce on US data gives some relief to longs
· Pair heavy on safe haven flows but holds above 61.8 Fib of 1.0879-1.1180
· Daily RSI diverges & bull hammer forms, daily techs warn shorts
· Monthly RSI still falling, says downside momentum could resume
· Global growth concerns, soured risk could sink EUR/USD
According to the Analysis, pair is expected to find support at 1.1010 and a fall through could take it to the next support level of 1.0972. The pair is expected to find its first resistance at 1.1132 and a rise through could take it to the next resistance level of 1.1170.
USD JPY
USD traded higher against JPY and closed at 108.39.
· USD/JPY's breaks key props at 108.50 , close is key
· IMM USD/JPY specs long largely above 108 are at risk on 107.89/99 break
· Treasury yields sliding faster than JGBs, '20 Fed cuts pricing back in
· USD/JPY's topping formation reinforced by AUD/JPY's reversal
· Risk flows could change on a dime if trade deal gets completed, signed
According to the Analysis, pair is expected to find support at 108.57 and a fall through could take it to the next support level of 108.56. The pair is expected to find its first resistance at 108.59, and a rise through could take it to the next resistance level of 108.60.
Important Economic Events of the Week (11 Nov, 19 to 15 Nov, 19)
· USD: Retail Sales m/m
· GBP: Retail Sales m/m
· NZD: Electronic Card Retail Sales m/m
For More information about the release time of news and its impact visit Economic Calendar Page!
EUR USD
EUR traded higher against USD and closed at 1.1021
· Early bounce on US data gives some relief to longs
· Pair heavy on safe haven flows but holds above 61.8 Fib of 1.0879-1.1180
· Daily RSI diverges & bull hammer forms, daily techs warn shorts
· Monthly RSI still falling, says downside momentum could resume
· Global growth concerns, soured risk could sink EUR/USD
According to the Analysis, pair is expected to find support at 1.1010 and a fall through could take it to the next support level of 1.0972. The pair is expected to find its first resistance at 1.1132 and a rise through could take it to the next resistance level of 1.1170.
USD JPY
USD traded higher against JPY and closed at 108.39.
· USD/JPY's breaks key props at 108.50 , close is key
· IMM USD/JPY specs long largely above 108 are at risk on 107.89/99 break
· Treasury yields sliding faster than JGBs, '20 Fed cuts pricing back in
· USD/JPY's topping formation reinforced by AUD/JPY's reversal
· Risk flows could change on a dime if trade deal gets completed, signed
According to the Analysis, pair is expected to find support at 108.57 and a fall through could take it to the next support level of 108.56. The pair is expected to find its first resistance at 108.59, and a rise through could take it to the next resistance level of 108.60.
Important Economic Events of the Week (11 Nov, 19 to 15 Nov, 19)
· USD: Retail Sales m/m
· GBP: Retail Sales m/m
· NZD: Electronic Card Retail Sales m/m
For More information about the release time of news and its impact visit Economic Calendar Page!