Tuesday 14th January: Modest Risk Rally Continues Ahead of Phase One Signing.
Pound sterling slipped lower Monday, pressured by lower-than-expected growth and manufacturing production data, as well as dovish comments from BoE’s Vlieghe.
Monday 13th January: Weekly Technical Outlook and Review.
Wednesday, in the shape of a 47-point downward move, overthrew not only the 200-day SMA (orange – 1.1139) but also a local channel support, taken from the low 1.0981. The nearby 50-day SMA (blue – 1.1090) entered the fold Friday, providing support by way of a bullish engulfing candle over Thursday’s doji indecision formation.
Friday 10th January: Dollar Index Advances Ahead of Non-Farm Payrolls Data.
Thursday had the euro slightly softer against a sturdier buck, as the US dollar index, or DXY, elbowed above 97.50. As of current price, buyers and sellers are squaring off a touch below the 1.11 handle on the H4 timeframe.
Thursday 9th January: Marked Improvement in Market Sentiment; Dollar Overpowers 97.00.
Europe’s single currency ceded further ground to the US dollar Wednesday, shedding 0.42% and clocking near-two-week lows a few points north of the 1.11 handle.
Wednesday 8th January: Risk Aversion Bolsters Safe-Haven Markets.
Despite Monday’s firm opening, The US dollar index’s recent advance, aided by an upbeat US Non-Manufacturing PMI reading, took a bite out of the British pound Tuesday, shedding more than 45 points, or 0.37%.
Tuesday 7th January: Dollar Lower Amidst Escalating US-Iran Tensions.
EUR/USD buyers entered an offensive phase Monday, adding 35 points, or 0.34%. The pair gathered traction on the back of upbeat Eurozone services PMIs and a better-than-anticipated Sentix index, released early London.
Monday 6th January: Weekly Technical Outlook and Review.
After challenging monthly highs at 1.1293 Wednesday, EUR/USD shifted lower and concluded the week revisiting the 200-day SMA , positioned a few points north of the 50-day SMA (blue – 1.1088).
Tuesday 24th December: Technical Outlook and Review.
The Australian dollar outpaced its G10 rivals Monday, jostling for top spot having made a firm breach of the 0.69 handle. H4 price, however, is now seen testing tops around the 0.6938-0.6929 region, which could prove problematic for buyers as we head into the festive period.
Monday 23rd December: Weekly Technical Outlook and Review.
Sterling decisively reclaimed GE-related gains last week as sellers strengthened their grip and snapped a three-week winning streak. After topping at the 2018 yearly opening level drawn from 1.3503 the week prior, price crossed back through long-standing trend line resistance, pencilled in from the high 1.5930.
