The following are the intraday outlooks for EUR/USD, EUR/JPY, GBP/USD and Oil as provided by the technical strategy team at SEB Group.
EUR/USD: Testing the 1.1055 "Equality point". Price action was kind of muted yesterday but anyway resulted in a net bearish candle. This upholds pressure on a near-term 1.1055 "Equality point" – under which acceleration may unfold and then with levels at 1.1015 & 1.0920 in mind next. First-hand resistance at 1.1125 and the current intraday stretches are located at 1.1000 & 1.1165.
EUR/JPY: Targeting 137.35/08 next. Price action was lukewarm at the best yesterday, but anyway showing that some kind of supply is trickling through and supports in the low-137s are exposed (but less so if 138.39 goes).
GBP/USD: Clear-cut bearish print just added. A "Bearish engulfing candle" was added yesterday and it points lower near-term. Loss of support at 1.5574 would expose 1.5535 next and if not stopping there, supports in the low-1.54s would become fashion.
Brent Crude: Bullish "Doji", but will it bite? The downtrend is relentless and all indicators are pointing south still. The only speck of light is a potentially near-term bullish "Doji" added yesterday. The problem is that those have been seen more than once on the way down but it's not more than a 50/50-chance for them to have any impact. For today we urge to watch both 48.35 & 49.44 for clues. A break lower would target a trendline at 46.90.
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