GBPJPY Technical Analysis 2015, 26.04 - 03.05: daily breakout for the reversal to the bullish with 180.43 key resistance; weekly ranging bullish with 174.86 key support D1 price is on primary bearish with market rally: the price is trying to break 180.43 resistance level and Sinkou Span A line of Ichimoku indicator to be reversed from the primary bearish to the primary bullish on D1 timeframe: The price is located inside Ichimoku cloud/kumo and near Sinkou Span A line (which ...
EUR/GBP is resuming its larger downtrend, following the break of 0.7174/0.7166, notes Bank of America Merrill Lynch. "We look for a test and break of the Mar-11 low at 0.7014, ahead of the 0.6900/0.6800 region. Bounces should not exceed the Apr-19 high at 0.7245," BofA projects. Turning to EUR/USD, BofA notes that while the 1.0500-1.1000 range is still intact, its correction is turning increasingly in a 'Triangular' pattern. ...
While Bank of America Merrill Lynch didn't expect the USD Index DXY to remain within its recent corrective range trade (currently consolidating between 99.92 & 96.58), BofA now thinks that this longer than anticipated consolidation has done no damage to the larger bull trend. "Absent a sustained break off 96.58/95.94 we look for a bullish resolution towards 103.85 (Triangle objective) ahead of 106.00 (long term upside target)," BofA argues. It is a slightly different ...
Chinese Beauty
The EUR/USD soared to a near term high at 1.0808 after the release of inflation data and strong comments from Mario Draghi on Thursday. USD outlook has become more balanced which is likely to drive near‐term USD weakness but over the medium term the USD should still be supported. The DXY USD index is flirting with a break below its 50‐day MA, a level it hasn’t traded through since July, accordingly technically the USD index is shifting and ...
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