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14 Mar 2013
Forex Flash: Near Term Technical Snapshot shows bearish bias - Scotiabank
Camilla Sutton and Eric Theoret, FX strategists at Scotiabank have taken a look across the market and highlighted their clearest market views.
Starting with USD/CAD, they have mixed sentiment and see resistance remaining at the 9 day MA at 1.0279. Further they see that the MACD is bearish. Looking to EUR/USD, they hold a bearish view and see 2013 lows. they highlight the key Fibo level at at 1.2877, with the 200D MA at 1.2867 below. Shifting to GBP/USD they are again bearish and feel that as momentum fades they are looking for a breach of the 9D MA at 1.4988 for a shift in sentiment. Finally, they move to USD/JPY and comment that they are bullish on the pair as it approaches the 96.71 high. Overall they feel that signals are continuing to suggest at further upside.
Starting with USD/CAD, they have mixed sentiment and see resistance remaining at the 9 day MA at 1.0279. Further they see that the MACD is bearish. Looking to EUR/USD, they hold a bearish view and see 2013 lows. they highlight the key Fibo level at at 1.2877, with the 200D MA at 1.2867 below. Shifting to GBP/USD they are again bearish and feel that as momentum fades they are looking for a breach of the 9D MA at 1.4988 for a shift in sentiment. Finally, they move to USD/JPY and comment that they are bullish on the pair as it approaches the 96.71 high. Overall they feel that signals are continuing to suggest at further upside.