FXstreet.com (Barcelona) - The Euro took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, plunging all the way down to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.
Initial resistance level lies at 1.4225 Asian session high, and, in case of further appreciation, next resistances could come at 1.4255 (Aug 31 low) and 1.4280/85 congestion area. On the downside, initial support lies at 1.4190 intra-day low, and below there 1.4175 (Sept 1 low) and 1.4155 (Aug 18 high).
EUR/GBP rose on Tuesday's European session to 0.8835 high to decline during following sessions, reaching levels around 0.8785 at the time of writing. On a wider perspective, the pair continues consolidating in a range from 0.8770 from 0.8840 after its rally from 0.8520 low on August 17. Support levels lie at 0.8770 and 0.8710. On the upside, resistance levels are 0.8840 and 0.8860.
* EUR/USD
* EUR/GBP
EUR/USD (Sep 02 at 07:33 GMT)
1.4219/23 (0.00%)
H 1.4247 L 1.4187
S3 S2 S1 R1 R2 R3
1.4134 1.4169 1.4205 1.4225 1.4261 1.4296
[?]Trend Index [?]OB/OS Index
Neutral Neutral
Data updated on Sep 02 at 07:30 (15-minute timeframe)
[ View EUR/USD technical studies ]
Asian stock markets are going through losses on Wednesday following a negative session in Wall Street, while Chinese stocks rose. Euro and Pound are trading at week lows after Tuesday's declines.
Japanese Nikkei Index declined 2.8%, with South Korean Kospi Index 0.7% lower. Australia's S&P Index declined 2.0% and Hong Kong's Hang Seng Index dropped 1.8%. Chinese Shangai Composite Index rose 0.5%.
Banks, commodity producers and exporters have been the biggest losers in a session dominated by risk aversion, on the back of considerable declines on U.S. markets, with investors concerned about further turmoil in the banking sector, as well as in the industrial sector and in global economy.
Euro and Pound retreat to week lows
EUR/USD took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, the Euro plunged all the way to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.
GBP/USD rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair attempted to appreciate reaching levels around 1.6175 ahead of the European session opening.
USD/JPY rose on Tuesday's U.S. session to 93.45, to drop later to intra-week low area at 92.50. During Asian session, the pair has launched a shy recovery attempt, reaching levels around 92.90 at the time of writing.
* EUR/USD
* GBP/USD
The sellers we mentioned earlier at 132.20 seem to have won the first round, with EURJPY unable to move up thru that level and retreating back to 131.80. We should note that the Chinese Index has also come off its highs, now up only 0.07%. Traders are weary of a reversal back into negative territory, thus trimming risk positions.
FXstreet.com (Buenos Aires) – GBP/USD Current Price: 1.6507. Holding just under 1.6520 static resistance zone, along with 200 EMA. Hourly indicators have turned slightly bullish, pointing for some gains in the next hours, thus clear opening above 20 SMA will give further support to the bias.
“Above that, next resistances come at 1.6550 and 1.6600, 20 SMA in the daily; pair has reached and retreat strongly that level several times, suggesting that another failure attempt could turn the pair bearish in the midterm,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.6470 1.6440 1.6410. Resistance levels: 1.6520 1.6550 1.6600.
* GBP/USD
EUR/JPY is back up close to rumoured sell ordesr at 134.80/00 but is showing little signs of tiredness. It must be Friday as I've been thinking to myself that USD/JPY might be a good buy. Perhaps I need a break! I'll hand over to Sam for the next few hours and turn my platform off to resist taking trades I don't really believe in.