Monday 8th June: Weekly Technical Outlook and Review
Over the course of last week, EUR/USD extended recovery gains north of the 2020 yearly opening level at 1.1222, consequently grappling with trend line resistance into the close, a level extended from highs at 1.2555.
Friday 5th June: Buck Abandons 97.00 Ahead of Non-Farm Payrolls
EUR/USD bulls entered a strong offensive phase Thursday, following Eur130 billion German fiscal stimulus, with additional impetus provided by the ECB exceeding expectations for a Eur500 billion PEPP boost.
Thursday 4th June: Technical Outlook and Review
Key risk events today: Australia Trade Balance; ECB Main Refinancing Rate, […]
Wednesday 3rd June: Technical Outlook and Review
The US dollar index, or more commonly referred to as the ‘DXY’, declined to levels not seen since March 13 on Tuesday after recording its sixth consecutive daily loss.
Tuesday 2nd June: Technical Outlook and Review
Despite Monday’s advance, a turn from 1.1157/1.1099 places 1.0995 on the hit list as support; alternatively, additional upside has resistance at 1.1239 calling for attention (essentially the same base as weekly QM).
Monday 1st June: Weekly Technical Outlook and Review.
Europe’s single currency journeyed to a peak of 1.1145 against its US counterpart last week, adding more than 200 pips into Friday’s close.
Friday 29th May: Technical Outlook and Review
Europe’s shared currency retained a healthy underlying bid against the US dollar Thursday, adding 0.7% by London’s close. The US dollar index maintained a position south of 99.00, crossing through 98.50. In spite of this, the DXY was initially unmoved by the revision lower to Q1 GDP and larger-than-forecast unemployment claims.
Thursday 28th May: Technical Outlook and Review
Wednesday had the shared currency rebound strongly against the US dollar, off May’s opening level at 1.0943. 1.10 came under threat shortly after, displaying a fakeout through the key figure to April’s opening level at 1.1023 on the H4 timeframe.
Wednesday 27th May: Technical Outlook and Review
With the US dollar index travelling through 99.50 and touching gloves with 99.00, EUR/USD H4 price is seen seeking additional bidders for a push to nearby 1.10, a key figure widely watched in this market.
