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Technical Analysis
Friday 25th September: Technical Outlook and Review

Despite mildly surpassing H4 support at 1.1652, a level closely joined by AB=CD structure (black arrows) at 1.1660 and 1.618 BC projection at 1.1649, EUR/USD bulls went on the offensive Thursday.

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Technical Analysis
Thursday 24th September: Technical Outlook and Review

The euro held the bulk of its losses against the greenback Wednesday, recording a fourth consecutive daily decline. H4 relinquished the 1.17 handle in wake of feeble sub-50 Eurozone services PMIs and the DXY crossing above 94.00. Support at 1.1652 on the H4 timeframe is next on tap should further selling develop.

By IC Markets

Recent
South Africa Heritage Day Trading Schedule 2020

Dear Trader, Please find our updated trading schedule for the South Africa Heritage Day  on Thursday September 24th, 2020.

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Technical Analysis
Monday 21st September: Weekly Technical Outlook and Review

Europe’s single currency entered an indecisive phase Friday, following Thursday’s move higher, which as we know finished in the shape of a daily hammer candlestick formation.

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Technical Analysis
Friday 18th September: Technical Outlook and Review

Europe’s single currency slipped through several key H4 technical supports Thursday, missing weekly support at 1.1733 by a hair before recoiling back to unchanged levels. H4, as of current price, trades north of 1.18, with technical eyes perhaps directed towards trend line resistance, extended from the high 1.2010.

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Technical Analysis
Thursday 17th September: Technical Outlook and Review

GBP/USD finally mustered enough oomph to overthrow 1.29 on the H4, taking on resistance at 1.2944 (now serving support) and shaking hands with the key figure 1.30. UK CPI data exhibited an upbeat tone, though the obvious catalyst behind the pound’s recent strength was USD softness.

By IC Markets

Technical Analysis
Wednesday 16th September: Technical Outlook and Review

As the DXY closes out Tuesday off worst levels (92.79), EUR/USD on the H4 spun lower from the 1.19 handle in reasonably strong fashion. Above 1.19, September’s opening value is seen at 1.1937; to the downside 1.18 invites an approach. Beyond 1.18, Quasimodo support at 1.1781 is visible, followed by August’s opening level at 1.1771.

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Technical Analysis
Tuesday 15th September: Technical Outlook and Review

Pound sterling emerged strong Monday, aided by a bout of short-covering and USD downside. Leaving 1.27/1.2755 (yellow) unchallenged on the H4 (made up of 1.27, a 61.8% Fibonacci retracement ratio at 1.2718 [green], weekly support at 1.2739 and H4 support at 1.2755), fed by sell-stop liquidity under 1.28, GBP/USD bulls recently entered an offensive phase and shook hands with 1.29.

By IC Markets

Technical Analysis
Monday 14th September: Weekly Technical Outlook and Review

Sterling wrapped up the week erasing nearly 500 pips, its largest one-week loss against the buck since March. Price squeezed out any remaining buyers from the 2020 yearly opening value at 1.3250 and concluded within touching distance of the 2019 yearly opening value at 1.2739, a level that merges closely with trend line resistance-turned support, extended from the high 1.5930.

By IC Markets