Friday 25th September: Technical Outlook and Review
On the weekly timeframe, we have the gold price currently testing support at the 1882.7 price level. This can be seen as a healthy pullback as gold has been pushing higher since May 2019 and even broke out of its ascending channel to the upside.
Wednesday 30th September: Technical Outlook and Review
The US dollar index, or DXY, continued to deteriorate south of daily resistance at 94.65 Tuesday, consequently providing fresh impetus for EUR/USD bulls to take on the 1.17 handle and H4 resistance coming in at 1.1723.
Tuesday 29th September: Technical Outlook and Review
After shaking hands with daily resistance at 94.65 on the US dollar index Friday, DXY price pulled back Monday and provided EUR/USD some fresh bullish legs ahead of the 1.16 handle to test Quasimodo resistance on the H4 timeframe at 1.1679.
Monday 28th September: Weekly Technical Outlook and Review
Sterling finished the week down nearly 180 points, erasing prior gains and shaking hands with support at 1.2739, a 2019 yearly opening value. Technicians will acknowledge the level also merges with trend line resistance-turned support, extended from the high 1.5930.
Tuesday 29th October: Safe-haven markets offered amid risk-on trade.
EUR/USD movement picked up a modest bid Monday amid risk-on trade, adding 20 points, or 0.19%. Overall, however, it was an otherwise quiet start to what indeed should be an eventful week ahead.
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