Wednesday's Intraday Outlooks For EUR/USD, USD/JPY, EUR/GBP
eFXnews | Apr 08, 2015 03:11AM ET
The following are the intraday outlooks for EUR/USD, USD/JPY, and EUR/GBP as provided by the technical strategy team at SEB Group.
EUR/USD: Traded with eyes on 1.0713. A nearby tentative trendline at 1.0775 and a recent 1.0713 low are of interest for the market below while the bearish 'Cloud' & yesterday's high, are for now shielding the +1.10 peaks from action and as long as this is the case, a test of those supports seems likely. Current intraday stretches are located at 1.0740 & 1.0960.
USD/JPY: Sellers at 'Cloud' resistance...And buyers at mid-body support. This could be a completed correction higher, but for this to be confirmed, a drop back under 118.71 is needed. Until then an 'Equality point' at 120.75 works as a first hand target - if able to break free from dynamic resistance at the high end of the 'Cloud' (near yesterday's best). Current intraday stretches are located at 119.20 & 121.00.
EUR/GBP: 'Double-top' in the making?...But only confirmed on a move below support at 0.7223 - then with an ideal target at 0.7065 (but with more hurdles to consider at 0.7200, 0.7154 & 0.7093). A move back over 0.7385/0.7406 is needed to clear resistance and pencil in higher levels for the correction which started early Mar.
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