EUR/USD Fails To Take Out 1.2765; USD/JPY Steams Ahead
eFXnews | Sep 29, 2014 03:54AM ET
EUR/USD: Failed to take out 1.2765
The upside correction attempt basically ended before getting started as selling ahead of 1.2765 prevented the buy signal from getting triggered. Prices have thereafter resumed its descent hitting a fresh trend low close to the low end of the 1.2661/1.2740/1.2755 support zone. Still persisting bull divergences however continues to warn of an overextended decline and a long overdue upward reaction.
USD/JPY: Steaming ahead above the 2002 line
After a week of consolidation the market ended last week a few points above the 2002 top line laying the foundation for today’s continued climb. The next target to look for is located at 110.28. We also note that the latest price action has created a bearish divergence something that has been visible in other dollar pairs for some time now.
GBP/USD: Heading for a new trend low
Since the rejection from above the weekly mid body point the pair has come under renewed pressure. The next key event will be to break below the B-wave low, 1.6162, and thereby confirm a second attempt to fall back below the 2009 triangle ceiling, now acting support.
AUD/NZD: From ”coast-to-coast” in just a weekFast change of sentiment last week, going from a downside stretch last week to a stretch to the topside this morning. Earlier thought resistance around the 1.11-mark now represents support – and as long as it’s respected an attack at the early Sep high of 1.1297 could be expected.
Get The News You Want
Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.