The following are the intraday outlooks for EUR/USD, EUR/GBP, EUR/JPY and Oil as provided by the technical strategy team at SEB Group.
EUR/USD: Near-term bearish price action. Following last week's 1.1215 high,near-term price action has been mostly bearish. If taking out a near-term "Equality point" at 1.1055 this would become even clearer. Further down 1.1018 & 1.0972 would also work as attraction/support within reach. A move back over 1.1189 would wreck this scenario and likely lead into a fresh high over 1.1215 – ten with 1.1279 in mind and within sight.
EUR/JPY: Should sink back towards 137.35/21. Sellers at a Jul9-20 "Equality point" at 138.85 have stayed the advance and if forcing bulls to give up supports at 137.80/35/21, the down move could start getting legs – towards key supports at 135.00 & 134.35.
EUR/GBP: Near-term focus on 0.7040. The descending 55day exponentially weighted moving average band (0.7075\145) keeps providing overhead dynamic resistance and the Jul-Aug correction higher seems to miss its ideal 0.7176 objective with a small margin. Near term selling has put a near-term reaction low of 0.7040 back in focus – below which 0.6951/35 would become fair game once more. Current intraday stretches are located at 0.7055 & 0.7160.
Brent Crude: Trendline support at 47.15 is exposed. Short-term trend-identifiers point stubbornly south and price action is not objecting it. This puts trendline support, now at $47.15 at risk for a test. Dynamic resistance should be noted at 50.10. Current intraday stretches are located at 47.70 & 50.15.
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