FX Board: December 19, 2013
Saxo Bank | Dec 20, 2013 02:28AM ET
The action in the USD crosses has triggered several short-term signals for major USD crosses in favour of the US dollar, most notably EURUSD. NZDUSD is also shaping up as an interesting long-term sell signal comes into view. (More below). As well, the Scandies wilted after a strong intraday charge, which was important for the EURSEK, EURNOK and USDSEK and USDNOK outlooks.
Today's FX Board
CHART FOCUS TODAY
Chart: EURUSD
The ST breakout is clear, though the longer term awaits confirmation below the 1.3600/50 zone.
Chart: NZDUSD
The longer-term NZDUSD-sell signal is shaping up a bit more clearly if we get a close today strongly below 0.8200 as it is presently (and at the lowest close in three weeks), though we clearly need a close through 0.8100 to talk about true break-out status for the pair.
Chart: EURSEK
SEK made a charge stronger today, but EURSEK managed to hold the final retracement support areas near 8.90. This is important support for the pair if the focus is to remain higher in the days/weeks ahead. (technical signals will generally remain tricky until the other side of the New Year.) Have a look at the USDSEK chart as well for upside breakout levels considering the combined EURSEK and EURUSD views.
Chart: XAUUSD
A break is a break until proven otherwise...the lowest close since 2010 was around 1200, despite a nominal low below that level some months back.
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