Wednesday 2nd October: Weekly resistance 99.62 capping upside on dollar index; further selling possible.
EUR/USD’s technical landscape reveals weekly price bottoming a few points north of 1.0873, the 2016 yearly opening level. This follows a breach of long-standing demand-turned resistance area at 1.1119-1.1295 in August.
Tuesday 1st October: Dollar index clocks YTD highs with weekly resistance at 99.62 likely next in the firing range.
Key risk events today: Australia Building Approvals m/m; Australia Cash Rate […]
Monday 30th September: Weekly technical outlook and review
Persistent Brexit-related uncertainties continued to weigh on sterling Friday, down 0.26% against the buck. Following Wednesday’s completion of a head and shoulders topping formation off Quasimodo resistance at 1.2571.
Friday 27th September: Dollar index firm above 99.00 ahead of personal spending data.
The British pound ceded further ground to the buck Thursday, extending Wednesday’s precipitous 1.14% decline amid ongoing Brexit uncertainties and USD strength.
Thursday 26th September: G10 pairs succumb as dollar reigns and tests 99.00+.
The US dollar index rebounded with a vengeance yesterday, enthused by comments from Fed-voter Evans, who took a somewhat more neutral stance as he noted the US economy is ‘quite solid and is posting good growth’.
Wednesday 25th September: Formal Trump impeachment inquiry bolsters haven currencies.
EUR/USD bulls went on the offensive Tuesday, consequently snapping a two-day losing streak and adding more than 25 points, or 0.24%. Sentiment among German executives improved slightly, according to the Institute for Economic Research.
Tuesday 24th September: Dollar marginally higher ahead of consumer confidence data.
In the early hours of London Monday, Europe’s single currency experienced a sharp change in mood versus the buck, dropping on the back of disappointing Eurozone flash metrics across the board.
Monday 23rd September: Weekly technical outlook and review.
Optimism over EU’s Juncker’s comments regarding the possibility of a breakthrough on the Irish backstop turned out to be reasonably short lived. The British pound decisively switched lower vs. the dollar Friday following various EU officials claiming the UK has still not delivered proposals compatible with the principles of the existing Withdrawal Agreement.
Friday 20th September: Light economic calendar may draw technical levels to the forefront of action.
Key risk events today: Canada Core Retail Sales m/m and Retail […]
