al_dcdemo's Blog
USD/JPY opens higher then backs off
Weekend missile strike on Syria hasn't led to much volatility in risk assets. USD/JPY actually gapped higher but then turned lower in the following hours. 106.75 - 107 is the initial support for this pair and 107.75 - 108 the resistance. U.S. retail sales is the event to keep an eye on today's calendar.
U.S. dollar gaps lower, as does Turkish lira
Price action in the dollar so far playing out as expected, a small gap lower followed by some strength. USD/TRY, however, gapped the other way, now retracing nearly 50.0% of the November - January downswing. 3.84 - 3.85 is the resistance. A reversion to 3.775 is possible in the near term.
Will the dollar gap lower?
U.S. government failed to pass funding bill and went into shutdown. This will probably last a couple of weeks, the question is what it means for the U.S. dollar. A small gap lower is possible, but with ECB and BOJ meetings next week, a correction rather than continuation of the dollar weakness may be in the cards.
Cable holding up well
With the turmoil going on in the financial markets in the recent days, Cable has been one of the currency pairs that remained relatively unaffected. Weekend gap lower was just 40 pips and most of it was closed in an hour or so after the opening, with the rest shortly after the start of the European session.
The pair is trading in relatively tight range between 1.5675 and 1.5775. Should it continue higher it may have hard time to get past the strong resistance in 1.5875 - 1.5925 band. On the down…
The pair is trading in relatively tight range between 1.5675 and 1.5775. Should it continue higher it may have hard time to get past the strong resistance in 1.5875 - 1.5925 band. On the down…
EURo gap filled
Euro filled the weekend gap and some, after upbeat tones from many officials and the perception that Greek people will vote "Yes" on Sunday's referendum. Part of the flows might also have been unwinding of the currency hedges in line with selling in the stock market.
The pair is back to the pre-weekend range which traded between 1.1150 and 1.1225. The momentum is on the bullish side at the moment and should the pair break above the range, the next resistance may be found in 1.1250 - 1.1260 band …
The pair is back to the pre-weekend range which traded between 1.1150 and 1.1225. The momentum is on the bullish side at the moment and should the pair break above the range, the next resistance may be found in 1.1250 - 1.1260 band …