Technical Analysis

Technical Outlook: EURUSD Eases After Kijun-Sen Repeatedly Capped

Typography

The Euro eased below 1.1800 on Friday after repeated failure to clear daily Kijun-sen at 1.1851.

Fresh weakness retraced the largest part of Thursday's strong rally, questioning strong two-day recovery from 1.1730 and requiring stronger signal for break out of this week's 1.1730/1.1858 range.

Mixed signal from daily studies also do not provide clear near-term direction signal.

Upbeat EU Current Account numbers (33.3 B surplus vs 26.2B f/c) in August did not provide support to Euro, with focus turning towards US housing data, due later today, for fresh signals.

Catalonia remains in focus, with the outcome of Spain cabinet's meeting on Saturday, regarding decision of suspending Catalonia's autonomy which could have stronger impact on the single currency.

Res: 1.1858, 1.1879, 1.1921, 1.1931
Sup: 1.1790, 1.1767, 1.1730, 1.1711

Author: Windsor Brokers LtdWebsite: http://www.windsorbrokers.com/
Windsor Brokers Ltd
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