The following are the intraday outlooks
for USD Index, EUR/USD, EUR/JPY, and Spot Gold as provided by the
technical strategy team at SEB Group.
USD INDEX: Topside struggle. The dollar index also a second consecutive day continued to show signs of exhaustion (false break and top side spike) and given that we also have a bearish divergence in place some caution is clearly urged. A move below 91.51 will further enhance a correction warning.
EUR/USD: Seeking a mid body test. The
pair initially extended the decline down to 1.1459 before rebounding
back to close at the previous day’s low point. Given the preceding day’s
(and also last week’s) falling benchmark candle there’s historically a
tendency for the market to try the mid body point, 1.1703/10 (weekly and
daily mid body points) within two to three periods after the benchmark
candle was printed.
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USD INDEX: Topside struggle. The dollar index also a second consecutive day continued to show signs of exhaustion (false break and top side spike) and given that we also have a bearish divergence in place some caution is clearly urged. A move below 91.51 will further enhance a correction warning.
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