Feb 13, 2017 - SFC Spot Desk. Into Europe & NY. Economic calendar will ... EURUSD(1.0630)- Approaching the bottom of
FX Research
Monday, 13 February 2017
Good morning 13th Feb17 SFC Spot Desk Into Europe & NY Economic calendar will be light on both sides of the Atlantic today.European session kicks off with the release of Germany Wholesale Price Index at 0700GMT and Sweden Unemployment for January.NorAM session will see no publication of any relevant macro data. In absence of key macro releases markets attention should turn to ECB's President Mario Draghi Q&As later in the afternoon. Upcoming data & events 0700 Germany-Wholesale price index mm for Jan: Prior 1.2 pct 0700 Germany-Wholesale price index yy for Jan: Prior 2.8 pct 0700 Sweden-Registered unemployment rate for Jan: 7.8 pct
SFC Spot Desk Tel: +44 20 7412 0000 E-mail:
[email protected] Reuters Dealing: SABX
Swiss Finance Corporation Ltd. 33 Cavendish Square, London W1G 0PW United Kingdom Tel: +44 20 7412 0500
FX Technical Update
E-mail:
[email protected] Website: www.sfc-uk.com
EURUSD(1.0630)- Approaching the bottom of the cloud...... -Flows:bids 1.0620/00.More ahead of 1.0590/80.Stops below.Offers 1.0650/60.More ahead of 1.0680/0700-720.Stops above. -S/T tech:Negative below 1.0670/0720 with scope for the limited losses ahead.Projected targets for shorts have been met and exceeded.If still short off 1.0820 reconsider booking profits on downticks to 1.0620/00 or stay short with stops trailed down to 1.0670+,targeting 1.0590/80 and beyond. -M/T tech:Negative below 1.0820/50 with early signs of an interim top ahead of key daily stretch @ 1.0820.As expected upticks to 1.08/0820 provided an opportunity to reload shorts.Stick to short side with stops trailed to 1.0750+ or book profits on downticks to congested support @ 1.0640-20/0580. -Levels to watch:1.0620/00 on the downside;1.0670/0720 on the upside. -Projected range: 1.0600-1,0670 USDJPY(113.60)-Fib resistance @ 114.30 caps the recovery..... -Flows:bids 113.50/30.More ahead of 113.00/112.80.Stops below.Offers 114.20/30.More ahead of 114.50/60.Stops above. -S/T tech:Positive above 112.80/20 with scope for the limited gains ahead.Projected targets for longs off 113.00 have been mostly met.If still long reconsider booking profits on upticks to 114.00 or stay long with stops trailed up to 112.80,targeting retest of 114.30 and beyond. -M/T tech:Turns negative on daily close below long defended congested support @ 112.50/00.Rallies likely to present an opportunity to sell.New strategy to follow. -Levels to watch:112.80/20 on the downside;114.30/50 on the upside. -Projected range:113.00-114.20 EURJPY(121.10)- Congested Fib & tech resistance @ 121.30/60 puts a lid on the market... -Flows:bids 120.60/50.More ahead of 120.20/00.Stops below.Offers 121.30/50-60.More ahead of 121.80/122.00.Stops above. -S/T tech:No change in last 48hrs.Retracement of 112.50-119.30 decline underway.While above 120.20 recovery may extend up to 121.30/60-80 where supply should reemerge(condition met).The overall outlook remains negative below 121.60/80 with rallies seen as an opportunity to reload shorts.No position at present. -Levels to watch:120.20/00 on the downside;121.30/60-80 on the upside. -Projected range:120.20-121.30 GBPUSD(1.2510)-Climbs higher...... -Flows:bids 1.2460/50.More ahead of 1.2430/00.Stops below.Offers 1.2530/50.More ahead of 1.2600/20-30.Stops above.
SFC Markets: www.sfcmarkets.com
This document must be read in conjunction with our risk disclosure and disclaimer, which are part of this document.
-S/T tech:No change in last 24hrs.Retracement of 1.2580-1.2430 decline underway.While above 1.2460 recovery may extend up to 1.2530/50 where supply should reemerge.The overall outlook remains negative below 1.2530/50 with rallies seen as an opportunity to reload shorts.Shorts off 1.2570/80 closed @ 1.2480/50.Watching price action for clues.No position at present. -M/T tech:Negative below 1.2660/50 with scope for the limited losses ahead.New strategy to follow. -Levels to watch:1.2430/2350 on the downside,1.2530/50 on the upside. -Projected range: 1.2460-1.2540 EURGBP(0.8505)- Leaks lower...... -Flows:bids 0.8500/8480.More ahead of 0.8460/50.Stops below.Offers 0.8540/50-60.More ahead of 0.8580/8600.Stops above. -S/T tech:No change in last 72hrs.Negative below 0.8540/8600 with scope for the retest of congested support @ 0.8500/8470 initially and 0.8450 should the decline extend.Intraday shorts off 0.8540 closed @ 0.8505/00.No position at present. -M/T tech:Negative below 0.8800/8850 with signs of base build in mid 0.84's.Look for more two way activity in broad range before another attempt lower.Rallies likely to present an opportunity to reload shorts.New strategy to follow. -Levels to watch:0.8480/70 on the downside;0.8540/60 & 0.8600 on the upside. -Projected range:0.8480-8540 If we see anything interesting and worthwhile, we will keep you posted. Have a great day in the meantime and best of luck. For detailed strategies visit www.sfcmarkets.com. SFC Spot Desk
Disclaimer and Risk warning
The information herein is believed to be reliable and has been obtained from public sources believed to be reliable. Swiss Finance Corporation Ltd makes no representation as to the accuracy or completeness of such information and is subject to change without notice. Swiss Finance Corporation has no obligation to update, modify or amend the information in this message or to otherwise notify a recipient thereof in the event that any opinion, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. Prices and availability of financial instruments are subject to change without notice. This message is provided for informational purposes only. It is not an offer or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy. Target prices are inherently imprecise and a product of the analyst judgment. The financial instruments discussed in this message may not be suitable for all investors and investors must make their own informed investment decisions. If a financial instrument is denominated in a currency other than an investor's currency, a change in exchange rates may adversely affect the investment. Past performance is not necessarily indicative of future results. Swiss Finance Corporation Ltd may with respect to securities covered by this message, sell to or buy from customers on a principal basis, and consider this message in deciding to trade on a proprietary basis. Derivative transactions involve numerous risks including, among others, market, counterparty default and illiquidity risk. The appropriateness or otherwise of these products for use by investors is dependent on the investors' own circumstances including their tax position, their regulatory environment and the nature of their other assets and liabilities and as such investors should take expert legal and financial advice before entering into any transaction similar to or inspired by the contents of this message. Trading in options involves risk and is not suitable for all investors. The risk of loss in futures trading and options, foreign or domestic, can be substantial. As a result of the high degree of leverage obtainable in futures, options, foreign exchange trading, spread betting and CFD's losses may be incurred that are greater than the amount of funds initially deposited. The information contained in this message does not constitute the provision of investment advice.
Swiss Finance Corporation Limited is a company registered in England and Wales under number 2278043. Registered address at 33 Cavendish Square, London W1G 0PW. Swiss Finance Corporation Limited (FCA number 142903) is authorised and regulated by the Financial Conduct Authority, the FCA
Powered by TCPDF (www.tcpdf.org)
