Kay Van-Petersen
Australia’s Q3 CPI figures proved positive, says Saxo Capital Markets’ global macro strategy Kay Van-Petersen, but the banks didn’t appear to be buying it.
Squawk / 21 May 2016 at 10:47 GMT
Senior Analyst /
Saint Vincent and the Grenadines
Weekly Trading Forecasts on Major Pairs (May 23 - 27, 2016)

Dominant bias: Bearish
EURUSD went downwards last week, closing below the resistance line at 1.1250. There is a bearish bias on the market, and the support lines at 1.1150 and 1.1100 could be tested. The only thing that can make this happen is continuous stamina in USD as compared to EUR; for the latter would try to gain some stamina this week, against other pairs (please watch EURCAD, EURCHF and EURJPY). Any show of vulnerability in USD might effect a rally in the market.

Dominant bias: Bullish
Based on the expectation last week, this pair was able to continue its northward journey. Price moved north roughly by 160 pips, closing slightly above the support level at 0.9900. There is one threat to the existing bullish outlook – the possibility of a rally in CHF.



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