GBP/USD Comments:
• Anna Coulling: Despite pullback sterling still remains bullish as markets reward UK fiscal policy. Expect to see 1.64 tested again.
• ecPulse.com: 1.5960 should hold to keep 1 month expectation valid while we need a weekly close above 1.6300 to change 1 quarter trend expectation
• Ilian Yotov: Risk aversion and lessened expectations of a BOE rate hike could extend further the recent price correction in the GBP/USD pair.
• Dr. Sivaraman: Very volatile moves may be seen
• Yohay Elam: There are good reasons why the members of the MPC are still reluctant to raise the rates, despite soaring inflation. The economy is weak. The pound is likely to continue shaking, and then drop.
• Mohammed Isah: GBPUSD is still bullish long term but continues to weaken within its broader sideways range. Within one to three months, we have a bullish bias on the pair.
EUR/USD Comments:
• Anna Coulling: The short term technical picture for the eur/usd remains mildly bullish although could be getting tired at this level. Dollar shorts now at an extreme which could be an important signal for a reversal. Pair likely to struggle anywhere above 1.43
• ecPulse.com: Breaching 1.3950 could change 1 week outlook while breaching 1.3860 could change 1 month and 1 quarter expectations
• Valeria Bednarik: As per now, bullish long term trend in Euro remains intact despite sovereign debt woes. Gains could extend towards 1.45 area in the upcoming weeks, before a reversal can come into play.
• Ilian Yotov: No surprise- Portugal looks more and more like the next hat-in-hand bailout candidate as the prime minister resigns and the country moves closer to the brink of a political and financial crisis. EU Drama Part 3, anyone?
• Dr. Sivaraman: Very volatile moves may be seen
• Yohay Elam: With the fall of the Portuguese government and the upcoming bailout, and the troubles with Ireland and with the expansion of the bailout fund, EUR/USD is looking downwards.
• Mohammed Isah: Although the pair is now hesitating following its test of the 1.4248 level, broader bias remains higher as long as it trades within its bullish channel. Our overall outlook remains bullish in one to three months.
USD/JPY Comments:
• Anna Coulling: Provided there is no BOJ or other bank intervention picture remains bearish. Any move below 80.36 will open the way to further downwards pressure.
• ecPulse.com: 78.60 should hold to keep our expectations valid
• Ilian Yotov: The potential for more G7 interventions should not be excluded and could assist the USD in forming a new base above the historic post WWII lows for the USD/JPY pair.
• Dr. Sivaraman: Swing and rise moves may be seen
• Yohay Elam: The Japanese economy was struggling also before the earthquake and the damage is severe. Together with the international effort to weaken the yen and the bounce back up, Dollar/Yen has room to rise.
• Mohammed Isah: The pair remains biased to the downside long term but now faces a recovery higher following its recent weakness. We retain our long term bearish call in three months.
USD/CHF Comments:
• Anna Coulling: Swiss franc still seen as safe haven - technical picture still bearish.
• ecPulse.com: 0.8515 should hold to keep 1 quarter expectation valid
• Valeria Bednarik: Upside corrective movements are still seen quite limited in the cross. Technical confirmations above 0.93 are needed to talk about a trend botton and probable bullish continuation
• Ilian Yotov: The multi-year bullish trend of the CHF is very strong and could accelerate on further risk aversion.
• Dr. Sivaraman: Swing and rise moves may be seen
• Yohay Elam: The ultimate safe haven currency continues to have all the reasons to rise, as Mid-East tensions are huge. Nevertheless, in the long term, the excessive strength might give way to a correction.
• Mohammed Isah: Despite its attempt at recovering higher, USDCHF continues to retain its long term bearish structure. We are bearish on the pair in one to three months.
Keys:
• Bearish: Belief that a particular currency is about to fall in value; understood as a general pessimistic trend about the state of that given currency.
• Bullish: Belief that a particular currency is about to rise in value; understood as a general optimism about the state of that given currency.
• Sideways: A sideways trend manifests when the volume of a currency pair bought and the volume of the same pair sold at a particular price are in balance or nearly in balance.
• Anna Coulling: Despite pullback sterling still remains bullish as markets reward UK fiscal policy. Expect to see 1.64 tested again.
• ecPulse.com: 1.5960 should hold to keep 1 month expectation valid while we need a weekly close above 1.6300 to change 1 quarter trend expectation
• Ilian Yotov: Risk aversion and lessened expectations of a BOE rate hike could extend further the recent price correction in the GBP/USD pair.
• Dr. Sivaraman: Very volatile moves may be seen
• Yohay Elam: There are good reasons why the members of the MPC are still reluctant to raise the rates, despite soaring inflation. The economy is weak. The pound is likely to continue shaking, and then drop.
• Mohammed Isah: GBPUSD is still bullish long term but continues to weaken within its broader sideways range. Within one to three months, we have a bullish bias on the pair.
EUR/USD Comments:
• Anna Coulling: The short term technical picture for the eur/usd remains mildly bullish although could be getting tired at this level. Dollar shorts now at an extreme which could be an important signal for a reversal. Pair likely to struggle anywhere above 1.43
• ecPulse.com: Breaching 1.3950 could change 1 week outlook while breaching 1.3860 could change 1 month and 1 quarter expectations
• Valeria Bednarik: As per now, bullish long term trend in Euro remains intact despite sovereign debt woes. Gains could extend towards 1.45 area in the upcoming weeks, before a reversal can come into play.
• Ilian Yotov: No surprise- Portugal looks more and more like the next hat-in-hand bailout candidate as the prime minister resigns and the country moves closer to the brink of a political and financial crisis. EU Drama Part 3, anyone?
• Dr. Sivaraman: Very volatile moves may be seen
• Yohay Elam: With the fall of the Portuguese government and the upcoming bailout, and the troubles with Ireland and with the expansion of the bailout fund, EUR/USD is looking downwards.
• Mohammed Isah: Although the pair is now hesitating following its test of the 1.4248 level, broader bias remains higher as long as it trades within its bullish channel. Our overall outlook remains bullish in one to three months.
USD/JPY Comments:
• Anna Coulling: Provided there is no BOJ or other bank intervention picture remains bearish. Any move below 80.36 will open the way to further downwards pressure.
• ecPulse.com: 78.60 should hold to keep our expectations valid
• Ilian Yotov: The potential for more G7 interventions should not be excluded and could assist the USD in forming a new base above the historic post WWII lows for the USD/JPY pair.
• Dr. Sivaraman: Swing and rise moves may be seen
• Yohay Elam: The Japanese economy was struggling also before the earthquake and the damage is severe. Together with the international effort to weaken the yen and the bounce back up, Dollar/Yen has room to rise.
• Mohammed Isah: The pair remains biased to the downside long term but now faces a recovery higher following its recent weakness. We retain our long term bearish call in three months.
USD/CHF Comments:
• Anna Coulling: Swiss franc still seen as safe haven - technical picture still bearish.
• ecPulse.com: 0.8515 should hold to keep 1 quarter expectation valid
• Valeria Bednarik: Upside corrective movements are still seen quite limited in the cross. Technical confirmations above 0.93 are needed to talk about a trend botton and probable bullish continuation
• Ilian Yotov: The multi-year bullish trend of the CHF is very strong and could accelerate on further risk aversion.
• Dr. Sivaraman: Swing and rise moves may be seen
• Yohay Elam: The ultimate safe haven currency continues to have all the reasons to rise, as Mid-East tensions are huge. Nevertheless, in the long term, the excessive strength might give way to a correction.
• Mohammed Isah: Despite its attempt at recovering higher, USDCHF continues to retain its long term bearish structure. We are bearish on the pair in one to three months.
Keys:
• Bearish: Belief that a particular currency is about to fall in value; understood as a general pessimistic trend about the state of that given currency.
• Bullish: Belief that a particular currency is about to rise in value; understood as a general optimism about the state of that given currency.
• Sideways: A sideways trend manifests when the volume of a currency pair bought and the volume of the same pair sold at a particular price are in balance or nearly in balance.
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