OSB Daily Technical Analysis for September 18, 2014

EUR/USD Breakdown below 1.29 handle. Support below at 1.2850. Market in sideways consolidation mode with slow downward drift and test of 1.28 handle most likely.

EUR/GBP Sell-off in EURGBP with a close just below 0.79 support level and bottom of recent consolidation range. Key support at 0.7875 level. A close below extends downward move to 0.78 and below. Currently at 2 year lows.

EUR/JPY sliced through 1.39 handle with ease and continues higher. Momentum suggests that key 1.40 level is a question of time. Consolidation and pull backs likely following recent bull run.

EUR/CHF Retest of 50 DMA for the EURCHF and a close just above 1.21 level. Consolidation at these levels as the pair looks to push higher.

GBP/USD Intraday rebound and test of 1.6360 resistance area in the GBPUSD. Shooting star signals some indecisiveness about direction and possible floor at the 1.6250 handle. Scottish referendum likely to be the decisive factor about where this market heads next. High volatility expected.

USD/JPY Rally straight through the 108.00 handle very bullish for the pair. Overbought but pullbacks likely to be short lived and 110.00 handle very much possible. Volatility to be expected on the way higher.

USD/CAD Intraday sell-off and recovery above the 1.10 level. Bullish for USDCAD and signals that the bulls are still in control. Consolidation above this level is likely before next up leg towards 1.11. Resistance at 1.1040-50.

USD/CHF Bullish candle and close above 0.94 handle close to yearly highs. Bullish momentum and more room to run. Resistance at 0.9450.

AUD/USD Punishing sell-off in the AUDUSD, breaking below the 0.90 handle with ease. Weakness and downward momentum suggest this pair is heading to 0.88 handle. This is a sell only market and any upswings are most likely to be short lived.

NZD/USD followed suite with the Aussie $ and broke through 0.81 level. Recent sell-off and downward move suggests lower prints are very much likely with 0.80 handle in sight. Bearish.

 

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