19 AUG 2013 11:38 EDT
By eFXnews.com
The following are the latest technical outlooks and strategies for
EUR/USD, GBP/USD, USD/JPY and AUD/USD as provided by the technical
strategy team at Barclays Capital.
EUR/USD: The USD is caught between strengthening forces against EM and weakening potential against some commodity currencies. Meanwhile, EUR/USD is caught in range between 1.3200 and 1.3420. We are looking to sell rallies within range.
USD/JPY: We expect 99.30/70 to cap rallies this week as price chops slowly lower towards 96.00. In the very short term, we are prepared to be patient, looking to sell bounces rather than chasing weakness.
GBP/USD: We are looking to scale into a short position. A move above 1.5775 (or a close above 1.5750) would prove our view incorrect. Until then, we expect a return to 1.5420 and potentially lower.
AUD/USD: Upside risks are increasing as a position squeeze is likely. A move above 0.9250 would confirm a test of 0.9320/50 before we can look to sell. An intraday break below 0.9150 would turn us bearish again.
EUR/USD: The USD is caught between strengthening forces against EM and weakening potential against some commodity currencies. Meanwhile, EUR/USD is caught in range between 1.3200 and 1.3420. We are looking to sell rallies within range.
USD/JPY: We expect 99.30/70 to cap rallies this week as price chops slowly lower towards 96.00. In the very short term, we are prepared to be patient, looking to sell bounces rather than chasing weakness.
GBP/USD: We are looking to scale into a short position. A move above 1.5775 (or a close above 1.5750) would prove our view incorrect. Until then, we expect a return to 1.5420 and potentially lower.
AUD/USD: Upside risks are increasing as a position squeeze is likely. A move above 0.9250 would confirm a test of 0.9320/50 before we can look to sell. An intraday break below 0.9150 would turn us bearish again.
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