Feb 26 (Reuters) – A look at the day ahead in Asian markets.
Stock markets in Asia start the week with clear momentum behind them, especially in Japan and China, but may be vulnerable to a spot of profit-taking as investors pause for breath after last week’s tech- and AI-fueled global buying frenzy.
EURUSD – Outlook for tomorrow
Support at 1.08050 and 1.07800 – bellow would open a way for test of 1.07450
Resistance in 1.08800 / 1.09000 area
As much as a correction to down is needed, it still can first try Up tomorrow morning.
This is not a good place for Buying, and still no reason to Sell it.
We’ll go with smaller time frames , and follow as it develops.
Week Ahead: EURGBP
EURGBP Daily Chart
The consolidation range is clear at .8498-.8578
This suggests .8500 will remain pivotal as only a firm break would open the door to another leg down.
On the other hand, only a firm break of .8578 would suggest the low is in for now/
Why am I highlighting EURGBP?
1) If you trade EURUSD and/or GBPUSD, you need to keep an eye on EURGBP as flows involving this cross often have an impact on price moves in EURUSD and GBPUSD
2) Month end (Feb 29): I have observed increased activity in EURGBP at month end, which in turn often sees erratic flows not only in the cross but in EURUSD and GBPUSD. So keep a close eye at month end as it can offer trading opportunities in respective pairs as well as in EURGBP. In this regard, watch price action throughout the day but especially leading up to and around the 4 PM London fixing.
Newsquawk.com Week Ahead 26th February – 1st March
Mon: US New Home Sales (Jan), Dallas Fed
(Feb), Japanese CPI (Jan), UK Nationwide (Feb)
Tue: US Democratic Primary – Michigan; German GfK (Mar), US Durable Goods (Jan), Consumer Confidence (Feb), Richmond Fed (Feb)
Wed: RBNZ Policy Announcement, Australian CPI (Jan), Swedish PPI (Jan), EZ Consumer Confidence Final (Feb), US GDP 2nd/PCE Prices Prelim. (Q4), Japanese Retail Sales (Jan)
Thu: Australian Retail Sales (Jan), US PCE (Jan), Canadian GDP (Q4)
Fri: Chinese NBS PMIs (Feb), EZ CPI (Feb), US ISM Manufacturing PMI (Feb).
USDJPY Weekly Outlook
Supports at 149.800 and 148.650
Resistance 152.000
There is not much to say about this pair, except that Pattern wise it is destined to try 152.000 area.
Problem comes from the fact that we have already double top in place, and if rejected for the third time, it will be not only technically visible, but would mean that BOJ decided to put Money where their Mouth is.
We can always see sharp drops in JPY , followed by even sharper ascent . But any possible drop below 145.000 and consequently 143.300 would put the whole Up trend in question.
USDJPY 15 minute chart
Similar to others, USDJOY is ending the week with a whimper but getting a reprieve from the dip in US bond yields
Wise rRngw `149.53-150.89
I wouldn’t be surprised to learn the BoJ has been covertly intervening as it has been rumored for years to do so via surrogates.
Whatever the case, 150 remains the ultimate bias-setting level
bobby 1:41 / tol game these frothy puppies is replete with risk
–
to mitigate risk to your wallet u d have to be a “whale” with tons of margin (haha) or collusionability with your say 3 selections out of the “7 magnificant”s or … a very intimate insight into money in or out flows
otherwise it is good luck peasant
NVIDIA – Whole planet talks about it….it is Viral…it is Hysterical
Even my wife asking about it ( and she couldn’t give a **** about it ) …my younger daughter asks about it ( at least she is just worried if the price for her next generation graphic card will go up )
Till yesterday it was Gold – half a planet bought it on the top….
Now the other half will buy NVIDIA stocks …on the top
Me….I don’t give a flying ****….EUR goes up, EUR goes down…that makes my day…
US Dollar Index Weekly Chart
Barring a burst higher, the US Dollar Index looks set for the first down week for the year (and in 8 weeks) although trading well off yesterday’s low.
By itself, this does not mean the dollar is about to reverse but does suggest the dollar has lost some steam.
in any case, those who follow me know I am always on the lookout for patterns and here is one that appears will be broken.
hear ye hear ye peasant
—
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