Tuesday 10th November: Technical Outlook and Review
Key risk events today: Limited. (Previous analysis as well as outside […]
Monday 9th November: Weekly Technical Outlook and Review
In a similar manner to EUR/USD, the British pound outperformed against the buck last week, adding 200 pips and producing a solid bullish engulfing candle. The 2020 yearly opening value at 1.3250 is seen as the next port of call to the upside, with a break exposing the 2018 yearly opening value at 1.3503.
Friday 6th November: Technical Outlook and Review
EUR/USD rotated lower a touch south of two-week tops Thursday, following another wave of upside, bolstered by USD depreciation amidst healthy risk appetite. Technical selling surfaced off Quasimodo resistance on the H4 timeframe at 1.1860, motivating a correction back to the 1.18 neighbourhood, which, as you can see, holds as support for the time being.
Thursday 5th November: Technical Outlook and Review
Wednesday exhibited choppy behaviour, with traders clearly undecided right now as ballot counting continues in the US. DXY ended modestly positive around 93.50. Following an aggressive push to the 1.16 neighbourhood, EUR/USD staged an equally aggressive pullback to above the 1.17 handle, currently trading unchanged on the day.
Wednesday 4th November: Technical Outlook and Review
Key risk events today: US ADP Non-Farm Employment Change; Canada Trade […]
Tuesday 3rd November: Technical Outlook Ahead of the US Elections
Cable opened on the backfoot Monday, pressured amidst a second lockdown across England. In addition to the US dollar index reclaiming territory above 94.00, GBP/USD ran stops beneath the 1.29 handle and appeared to gather additional bearish flow from October’s opening value on the H4 scale at 1.2925.
Monday 2nd November: Weekly Technical Outlook and Review Heading into The US Elections
Europe’s single currency subsided nearly 2% against a broadly stronger US dollar last week, side-lining hopes of reaching the 2018 yearly opening value at 1.2004. In the shape of a near-full-bodied bearish candle, price dramatically engulfed previous gains and closed within striking distance of support at 1.1621.
Friday 30th October: Technical Outlook and Review
Europe’s shared currency, fuelled on surging COVID-19 cases as well as a downbeat evaluation of the Eurozone economic outlook from President Lagarde, extended losses against a broadly stronger buck on Thursday.
Thursday 29th October: Technical Outlook and Review
Risk aversion dominated market movement in recent trading, despite the safe-haven buck trading off best levels. EUR/USD sailed through the 1.18 level on the H4 timeframe, with enough force to take on August’s opening value at 1.1771 and test October’s opening value from 1.1730.
