Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
GBPUSD - Weak rally points Lower
Thursday’s report highlighted a lack of clear direction for sentiment. That proved valid as price action was limited in range and net movement. Wednesday’s 14 month low was not retested but a profit taking attempt was limited and the highs not held. Taken in the context of a hugging of the lower end of a negative Keltner channel, we look for further downside.
Sell in 1.2725/30 area and any 1.2755 rally.
Stop is 1.2791 bid.
Targets 1.2698, 1.2662 or even 1.2629
Closes 4pm London time
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Squawk /
Yesterday at 5:41 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
EURGBP - Bounce above key average to extend higher
For a 3rd day in a row EURGBP probed below the 13 day mvg avg. For a 3rd day prices below that point found buyers. Price action was more subdued than the last 4 days – in fact, all trading was contained by the previous day’s range. This price action does not create strong signals for sentiment going into Thursday but the downside failure, an end to a sequence of 4 down days and further demand in Asia means intraday sentiment is positive.
We look to Buy at .8950 and .8932
Stop is .8901 offered
Targets .8967, .8987 or even .9005
Closing 4pm London time
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Squawk /
Wednesday at 5:40 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
USDCAD - Negative reversal through key average
Tuesday’s report highlighted underlying positive sentiment but a lack of a buy signal. That proved justified as our Buy at 1.3073 was virtually the low of the day. USDCAD still found further selling at the end of the day in a move that took prices to test the 13 day line. That important point was only marginally breached but, despite minor gains in Asia, is enough to leave our intraday technical studies negative.
We look to Sell in 1.3075/80 area and at 1.3105
Stop is 1.3137 bid
Targets, 1.3040, 1.3020 and 1.3000
Closing 4pm London time
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Squawk /
Tuesday at 5:37 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
EURUSD, Tracking Keltner channel lower
In line with this week's bearish call, early price action Monday saw EURUSD sold to the most negative point for 13 months. But the lows were not entirely maintained as some profit taking developed at oversold extremes. The rally was a weak one and a 3rd down day in a row was posted. Further rally attempts cannot be ruled out but sentiment is assessed as negative.
We look to Sell in 1.1405/10 area and at 1.1433
The stop is 1.1468 bid
Targets - 1.1365, 1.1334 or even 1.1312
Closing 4pm London time
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Squawk /
09 August 2018 at 11:25 GMT
Head of FX Strategy / Saxo Bank
Denmark
Due to internal misunderstanding: just now became aware that this morning's FX Update didn't make it to this website. Will now squawk out the update in pieces.
FX Update: NZD plunges on dovish RBNZ. GBP struggles
RBNZ pushed its dovish guidance out into 2020, a move the market wasn’t expecting, and kiwi plunged to new lows for the cycle. Elsewhere, traders can’t figure out to do with the US dollar, while the Russian ruble was sent into a tailspin on new sanctions threats.
The big dollar is flopping around with no conviction, perhaps merely owing to the increasingly low volatility summer doldrums in equity and bond markets and the lack of any of the incoming data on tap will do anything to shift expectations for the Fed’s policy trajectory. It’s a long wait for the late September Fed meeting (hike 91% priced anyway there) with the uncertainty premium greater for the December meeting – with another hike only priced at 65% odds. Elsewhere, plenty of volatility in individual currencies:
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Trade view / 08 August 2018 at 8:07 GMT
Medium term
/
Buy
Head of FX Strategy / Saxo Bank
Denmark
If China is set to launch another round of stimulus to stave off the risk of its recent deleveraging attempts leading to a hard landing, Australia’s currency would benefit from the injection of fresh cash and mining activity. We enter half a position here at the 0.74225-50 area.
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Squawk /
08 August 2018 at 5:43 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
USDCAD - Sharp positive turn points higher
Yesterday's bearish call had some success but the downside was again limited. Buying interest was again attracted above the 100 day mvg avg and, in the latter part of the day, this demand accelerated higher. Strong gains led to a test of the key 13 day mvg avg and although that point was not breached, on a closing basis, the strength of the improvement ensures our technical studies are positive.
We look to Buy in the 1.3050/55 area and any 1.3032 dip
Stop is 1.3002 offered
Targets - 1.3075, 1.3100 or even 1.3128
Closes 4pm London time
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Squawk /
02 August 2018 at 7:34 GMT
forex trader / self employed
United Kingdom
when is the new saxo site going to come on line? there is a lot of old and irrelevant information on here from people who no longer contribute, it makes things very confusing
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Squawk /
02 August 2018 at 6:50 GMT
forex trader / self employed
United Kingdom
EUR/USD 1.1800 EUR 1.7bn
USD/JPY 112.00 USD 1.7bn
USD/CAD 1.2900 USD 1.0bn
usd/jpy could be of interest i think?
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Squawk /
01 August 2018 at 5:39 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
GBPUSD - Weak buying points lower.
For a 3rd day in a row, trading in CABLE was muted yesterday. Both initial highs and subsequent lows were rejected and the fluctuation around the 13 day mvg avg continues. This type of price action cannot provide strong signals for sentiment but it is the continual failure at the 13 day line that places our intraday technical focus on the downside.
We look to Sell in 1.3105/10 area and any 1.3140 rally
Stop is 1.3173 bid
Targets- 1.3082, 1.3054 and 1.3015
Closes 4pm London time
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