Forex: CHF/JPY finds support after decline

FXstreet.com (Barcelona) - Having made a daily high this morning, CHF/JPY has declined sharply ahead of the US session and declined to find support.

The pair made a morning high at 106.76, but declined sharply ahead of the US open to post a low 104.73 before making support. Spot is currently trading at 104.92 and the 23.6% Fibonacci Retracement of daily decline falls at 105.20. Hourly MA´s are suggesting downside momentum, while Stochastics are in oversold territory at 18 and look to be turning. Hourly RSI is at 38 and looks to have smoothed after earlier downside momentum.

Apr 17, 2013

Forex Flash: EUR/CAD minor corrections to remain limited to low 1.33 area – TD Securities

TD Securities analysts observe that short-term patterns look somewhat less constructive for the cross now after this week’s set-back for the bullish scenario and decent selling above 1.35. “Overall, we still think the main directional risk here is higher. Strong rejections of the 1.30 area on the short and medium term charts plus an inverse (bullish) H&S formation (neckline triggered in the low 1.33s) and the move above the 40-day MA all point higher for the EUR in the near-to-medium term”, wrote analysts Shaun Osborne and Greg Moore, seeing positive short-term trend momentum for the EUR, “so we rather look for minor corrections to remain limited to the low 1.33 area (neckline retest)”.

Leer más Previous

Apr 17, 2013

Forex: EUR/USD falls 100 pips on Buba’s Weidmann interview

The market tumbled on the US session following an interview by Buba’s Weidmann to the Wall Street Journal in which he hints a ECB rate cut soon in case of more gloomy economic data in the Eurozone. Having peaked at 1.3199 high ahead of EMU construction output during the European morning, the EUR/USD was comfortable just below 13150 when the article was published and investors reacted by selling the EUR. The pair is now quoting 100 pips lower, stable at 1.3050, after printing a low at 1.3034.

Leer más Next