Friday 23rd October: Technical Outlook and Review
Amidst a moderate upturn in the US dollar index, snapping a four-day bearish phase, EUR/USD twisted lower Thursday and left H4 Quasimodo resistance at 1.1888 unchallenged (sited close by the 1.19 handle, along with an AB=CD correction point at 1.1905 [red arrows] and a 1.618 BC projection plotted at 1.1919).
Thursday 22nd October: Technical Outlook and Review
Europe’s single currency extended its bullish position against a broadly softer USD Wednesday (DXY crossed below 93.00). Technicians, according to the weekly timeframe, will acknowledge room to advance, as bulls strengthen their position north of minor support at 1.1621. The next upside target on the weekly scale falls in around the 2018 yearly opening value at 1.2004 (a level that capped upside attempts in late August).
Wednesday 21st October: Technical Outlook and Review
As the DXY toys with breaking 94.00 support, down 0.4% on Tuesday, EUR/USD, following a retest at August’s opening value at 1.1771, destroyed a number of key resistances on the H4 timeframe.
Monday 19th October: Weekly Technical Outlook and Review
GBP/USD, as you can see, recently recoiled from support at 1.2739 (a 2019 yearly opening value), a level blending with trend line resistance-turned support, extended from the high 1.5930. It is worth pointing out the aforementioned trend line was engulfed in late July this year, announcing an uptrend could be on the cards.
Friday 16th October: Technical Outlook and Review
Key risk events today: US Core Retail Sales m/m and Retail […]
Thursday 15th October: Technical Outlook and Review
Key risk events today: Australia Jobs Figures; Philly Fed Manufacturing Index; […]
Wednesday 14th October: Technical Outlook and Review
The US dollar rebounded sharply Tuesday, guiding EUR/USD into a bearish environment. Technical price action on the H4 lost grip north of 1.18, and subsequently overthrew August’s opening value at 1.1771 and a trend line support, extended from the low 1.1684.
Tuesday 13th October: Technical Outlook and Review
Key risk events today: UK Employment Data; US CPI m/m. (Previous […]
Monday 12th October: Weekly Technical Outlook and Review
Stirred by the US dollar index receding to levels not seen since September 21 (in danger of potentially losing 93.00 status), Europe’s shared currency outperformed over the course of last week.
