South Africa Day of Reconciliation Holiday Trading Schedule – 2020
Dear Trader, Please find our updated trading schedule for the South Africa Day of Reconciliation on Wednesday December 16th, 2020.
Thursday 10th December: Technical Outlook and Review
As the US dollar index climbed 91.00 amidst a deterioration in risk sentiment Wednesday, EUR/USD overthrew the 1.21 handle on the H4. With 1.21 now likely to serve as psychological resistance, along with the lack of obvious support present on the H4 chart, we could see the pair continue to weaken until reaching the key figure 1.20.
Wednesday 9th December: Technical Outlook and Review
Europe’s single currency rolled out a subdued tone against the US dollar Tuesday, as the US dollar index continues to languish south of the 91.00 handle. Bid/offers appear even off the 1.21 handle on the H4 scale, with EUR/USD suggesting either a push north to shake hands with daily resistance at 1.2165 once more, or navigating south of 1.21 to perhaps seek 1.20 bids and trend line support, extended from the low 1.1602.
Tuesday 8th December: Technical Outlook and Review
Monday had EUR/USD dip through 1.21 to test lows at 1.2078 on the H4, likely tripping sell-stops. A short-lived rebound, as you can see, triggered a run back to daily resistance at 1.2165, forming a H4 shooting star candle pattern.
Monday 7th December: Weekly Technical Outlook and Review
EUR/USD generated bold moves over the course of last week, rallying more than 150 pips and testing fresh YTD peaks. Underpinned on the back of USD softness (DXY ended the week down more than 1%), the technical picture on the weekly chart reveals the pair overwhelmed the 2018 yearly opening value at 1.2004, drawing out supply at 1.2420-1.2214.
Friday 4th December: Technical Outlook and Review
EUR/USD bulls remain in great shape north of the 2018 yearly opening value at 1.2004 on the weekly timeframe. Up nearly 1.5% on the week so far, testing fresh yearly peaks, large supply at 1.2420-1.2214 demands attention.
Thursday 3rd December: Technical Outlook and Review
The US dollar index, or DXY, claimed fresh YTD troughs ahead of the 91.00 handle on Wednesday amidst weaker-than-expected ADP non-farm employment. Similarly, EUR/USD worked its way to YTD peaks a touch north of the 1.21 handle (sited ahead of H4 Quasimodo resistance at 1.2118), following Tuesday’s 1.2% rally.
Wednesday 2nd December: Technical Outlook and Review
Europe’s single currency advanced to fresh YTD peaks against a broadly softer US dollar on Tuesday, with H4 surpassing the key figure 1.20 and shining the spotlight on a resistance area at 1.21/1.2068 (red), composed of the 1.21 handle, resistance on the weekly timeframe at 1.2092 (a Quasimodo formation) and a H4 ABCD approach (green arrows) at 1.2068.
Tuesday 1st December: Technical Outlook and Review
Despite the DXY gliding to fresh YTD troughs at 91.50, the index finished Monday substantially off worst levels. This coincided with EUR/USD also reaching for fresh YTD highs.
