Thursday 3rd December: Technical Outlook and Review
The US dollar index, or DXY, claimed fresh YTD troughs ahead of the 91.00 handle on Wednesday amidst weaker-than-expected ADP non-farm employment. Similarly, EUR/USD worked its way to YTD peaks a touch north of the 1.21 handle (sited ahead of H4 Quasimodo resistance at 1.2118), following Tuesday’s 1.2% rally.
Wednesday 2nd December: Technical Outlook and Review
Europe’s single currency advanced to fresh YTD peaks against a broadly softer US dollar on Tuesday, with H4 surpassing the key figure 1.20 and shining the spotlight on a resistance area at 1.21/1.2068 (red), composed of the 1.21 handle, resistance on the weekly timeframe at 1.2092 (a Quasimodo formation) and a H4 ABCD approach (green arrows) at 1.2068.
Tuesday 1st December: Technical Outlook and Review
Despite the DXY gliding to fresh YTD troughs at 91.50, the index finished Monday substantially off worst levels. This coincided with EUR/USD also reaching for fresh YTD highs.
Monday 30th November: Weekly Technical Outlook and Review
Buyers, as you can see, extended recovery gains north of support at 1.1621 over the course of last week, focused on shaking hands with the 2018 yearly opening value at 1.2004, closely shadowed by Quasimodo resistance priced at 1.2092.
Friday 27th November: Technical Outlook and Review
USD/CAD action enters Friday a touch higher, moderately balancing off the key figure 1.30 on the H4 timeframe. WTI is seen fading nine-month highs (mildly weighing on the Canadian dollar and propping up USD) while the DXY, or US dollar index, posted modest gains off monthly lows.
Thursday 26th November: Technical Outlook and Review
Largely overlooking the lack of Brexit developments and UK Chancellor Sunak’s spending review, GBP/USD buyers went on the offensive Wednesday. Technically, H4 remains supported above the 1.33 point, recording a fourth consecutive daily advance.
Wednesday 25th November: Technical Outlook and Review
Europe’s single currency posted modest gains against the US dollar Tuesday, with H4 candles now seen touring just south of 1.19 and Quasimodo resistance at 1.1895. The scenery north of 1.19 reveals room to approach September’s opening value at 1.1937
Tuesday 24th November: Technical Outlook and Review
Sellers, as evident from the H4, failed to find acceptance beneath the 104 handle on Monday amidst stronger-than-anticipated US PMI figures. This led to price forcefully moving into November’s opening value at 104.50, piercing the level to register session peaks at 104.63.
Monday 23rd November: Weekly Technical Outlook and Review
Although cable presented indecisive posture Friday, the pair, overall, remains underpinned as EU and UK officials echo an optimistic tone surrounding a possible Brexit deal. Friday’s narrow range kept price shelved sub 1.33, with neither side willing to commit.
