The following are the intraday outlooks for EUR/USD, EUR/GBP, USD/JPY and Oil as provided by the technical strategy team at SEB Group.
EUR/USD: Going south again. The post-FOMC reaction has been dollar friendly and it starts to become clear that a correctional high is in place (not far from an ideal "Equality point"). Full confirmation would come with a move back below the 1.0922 "B-wave low" – and then target a print below 1.0808. Current intraday stretches are located at 1.0925 & 1.1085.
EUR/GBP: Extending losses – 0.6965 in focus. It looks like a short-term correctional "A-B-C" move has peaked. The 0.7045 overlap is a strong indication that the 0.6965 "B-wave low" also will become tested/broken. Current intraday stretches are located at 0.6995 & 0.7105.
USD/JPY: Over 124.19 would target 124.48…And over 124.48 would set an objective north of 125.86. This is true unless local support at 123.33 is lost. lntraday stretches are far off and would definitely allow for a move well above 124.48 today.
Brent Crude: A near-term bullish "Flag"? The backdrop trend leaves few doubts over direction and it seems that the near-term counter-trend push higher is just a minor correction, possibly already passed its peak something a move back under 52.51 would confirm. Current intraday stretches are located at 52.15 & 54.85.
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