The sellers we mentioned earlier at 132.20 seem to have won the first round, with EURJPY unable to move up thru that level and retreating back to 131.80. We should note that the Chinese Index has also come off its highs, now up only 0.07%. Traders are weary of a reversal back into negative territory, thus trimming risk positions.
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Wednesday, September 2, 2009
Asian markets, mostly down following Wall Street, Euro and Pound, lower
FXstreet.com (Barcelona) - Asian stock markets are going through losses on Wednesday following a negative session in Wall Street, while Chinese stocks rose. Euro and Pound are trading at week lows after Tuesday's declines.
Japanese Nikkei Index declined 2.8%, with South Korean Kospi Index 0.7% lower. Australia's S&P Index declined 2.0% and Hong Kong's Hang Seng Index dropped 1.8%. Chinese Shangai Composite Index rose 0.5%.
Banks, commodity producers and exporters have been the biggest losers in a session dominated by risk aversion, on the back of considerable declines on U.S. markets, with investors concerned about further turmoil in the banking sector, as well as in the industrial sector and in global economy.
Euro and Pound retreat to week lows
EUR/USD took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, the Euro plunged all the way to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.
GBP/USD rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair attempted to appreciate reaching levels around 1.6175 ahead of the European session opening.
USD/JPY rose on Tuesday's U.S. session to 93.45, to drop later to intra-week low area at 92.50. During Asian session, the pair has launched a shy recovery attempt, reaching levels around 92.90 at the time of writing.
EUR/USD (Sep 02 at 07:33 GMT)
1.4219/23 (0.00%)
H 1.4247 L 1.4187
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.4134 | 1.4169 | 1.4205 | 1.4225 | 1.4261 | 1.4296 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Sep 02 at 07:30 (15-minute timeframe) | |
EUR/USD: Euro consolidating above 1.4200
FXstreet.com (Barcelona) - The Euro took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, plunging all the way down to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.
Initial resistance level lies at 1.4225 Asian session high, and, in case of further appreciation, next resistances could come at 1.4255 (Aug 31 low) and 1.4280/85 congestion area. On the downside, initial support lies at 1.4190 intra-day low, and below there 1.4175 (Sept 1 low) and 1.4155 (Aug 18 high).
EUR/GBP rose on Tuesday's European session to 0.8835 high to decline during following sessions, reaching levels around 0.8785 at the time of writing. On a wider perspective, the pair continues consolidating in a range from 0.8770 from 0.8840 after its rally from 0.8520 low on August 17. Support levels lie at 0.8770 and 0.8710. On the upside, resistance levels are 0.8840 and 0.8860.
EUR/USD (Sep 02 at 07:33 GMT)
1.4219/23 (0.00%)
H 1.4247 L 1.4187
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.4134 | 1.4169 | 1.4205 | 1.4225 | 1.4261 | 1.4296 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Sep 02 at 07:30 (15-minute timeframe) | |
GBP/USD: Pound approaching 1.6200 after bouncing at 1.6115
FXstreet.com (Barcelona) - The Sterling rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair is trying ti get back to higher levels ahead of European session opening, reaching, so far 1.6190.
On the upside, the Pound could find resistance at 1.6185 (Aug 31 low), and above here, 1.6225 and 1.6280. On the downside, initial support lies at 1.6150, and below here, 1.6115 and 1.6035 (jul 14 low).
GBP/JPY reached 152.80 high on Tuesday after bouncing at 150.00, although the pair dropped later to hit a fresh two-week low at 149.15 during early Asian session, to bounce back returning above 150.00 at the time of writing. Support levels are 149.10 and 148.00. On the upside, resistance levels lie at 150.26 and 150.60.
On a wider perspective, the Pound remains trading under a downward trending line after having peaked at 163.10, 2009 high on early August.
[ View GBP/USD technical studies ]
On the upside, the Pound could find resistance at 1.6185 (Aug 31 low), and above here, 1.6225 and 1.6280. On the downside, initial support lies at 1.6150, and below here, 1.6115 and 1.6035 (jul 14 low).
GBP/JPY reached 152.80 high on Tuesday after bouncing at 150.00, although the pair dropped later to hit a fresh two-week low at 149.15 during early Asian session, to bounce back returning above 150.00 at the time of writing. Support levels are 149.10 and 148.00. On the upside, resistance levels lie at 150.26 and 150.60.
On a wider perspective, the Pound remains trading under a downward trending line after having peaked at 163.10, 2009 high on early August.
GBP/USD (Sep 02 at 07:31 GMT)
1.6138/41 (-0.07%)
H 1.6192 L 1.6112
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.6034 | 1.6074 | 1.6115 | 1.6164 | 1.6205 | 1.6245 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Sep 02 at 07:20 (15-minute timeframe) | |
USD/JPY: Dollar testing levels above 93.00
FXstreeet.com (Barcelona) - The Dollar declined from Tuesday's high at 93.45 during early U.S. session to intra-week low at 92.50 during Asian session, and the pairs gathering strength moments ahead of the European opening to test levels above 93.00 Asian session high.
The Dollar moves at the moment at levels between 92.95/93.00, where the 20 and 50 hour SMA lie, and above here, te pair could find resistance at 9.40 /45 (Sept 1 high) and 93.70/85. On the downside, support levels are 92.50/55 intra-week low, and below here, 92.35 and 92.00.
EUR/JPY rose on Tuesday from 132.15 to reach intra-week high at 134.14 on early European session and drop afterwards to hit a fresh 6-week low at 131.45. During Asian session, the Euro has picked up, reaching levels above 132.00 to test 132.00 at the time of writing. Resistance levels are 132.90/95 and 134.15. On the downside, support levels are 131.45 and 130.85.
The Dollar moves at the moment at levels between 92.95/93.00, where the 20 and 50 hour SMA lie, and above here, te pair could find resistance at 9.40 /45 (Sept 1 high) and 93.70/85. On the downside, support levels are 92.50/55 intra-week low, and below here, 92.35 and 92.00.
EUR/JPY rose on Tuesday from 132.15 to reach intra-week high at 134.14 on early European session and drop afterwards to hit a fresh 6-week low at 131.45. During Asian session, the Euro has picked up, reaching levels above 132.00 to test 132.00 at the time of writing. Resistance levels are 132.90/95 and 134.15. On the downside, support levels are 131.45 and 130.85.
EUR/JPY (Sep 02 at 07:29 GMT)
132.10/13 (-0.02%)
H 132.51 L 131.42
| S3 | S2 | S1 | R1 | R2 | R3 |
| 131.23 | 131.56 | 131.89 | 132.31 | 132.64 | 132.97 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Sep 02 at 07:20 (15-minute timeframe) | |
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