Monday 15th June: Weekly Technical Outlook and Review
A favourable euro wind elevated EUR/USD over the past three weeks, recently delivering a blow to the 2020 yearly opening level at 1.1222. However, impetus lacked in recent trade after shaking hands with long-standing trend line resistance, extended from the high 1.2555.
Friday 12th June: Technical Outlook and Review
USD longs made a comeback Thursday, with the DXY staging a stronger-than-expected recovery above 96.50. This firmly weighed on the euro, the largest component of the index making up almost 58%.
Thursday 11th June: Technical Outlook and Review
Fuelled by additional USD shorts, EUR/USD climbed to highs at 1.1389 Wednesday, levels not seen since early March. Leaving 1.14 unchallenged, buyers hit the ropes as the pair dived to lows at 1.1342. 1.13 remains a standout support on the H4 timeframe, sharing space with Quasimodo support at 1.1268 and trend line support, extended from the low 1.0727.
Wednesday 10th June: FOMC in Focus
EUR/USD, according to the H4 timeframe, dipped to 1.1241 yesterday, leaving support at 1.1221 unchallenged, before turning to reclaim 1.13+ status to shake hands with recently formed Quasimodo resistance at 1.1362.
Tuesday 9th June: Technical Outlook and Review
EUR/USD left Monday muted, glued to the underside of the 1.13 handle on the H4 timeframe, ranging between 1.1319/1.1268. Downside support from here, therefore, remains at 1.1221 (prior Quasimodo resistance), closely followed by the 1.12 handle and trend line support, taken from the low 1.0727.
Monday 8th June: Weekly Technical Outlook and Review
Over the course of last week, EUR/USD extended recovery gains north of the 2020 yearly opening level at 1.1222, consequently grappling with trend line resistance into the close, a level extended from highs at 1.2555.
Friday 5th June: Buck Abandons 97.00 Ahead of Non-Farm Payrolls
EUR/USD bulls entered a strong offensive phase Thursday, following Eur130 billion German fiscal stimulus, with additional impetus provided by the ECB exceeding expectations for a Eur500 billion PEPP boost.
Thursday 4th June: Technical Outlook and Review
Key risk events today: Australia Trade Balance; ECB Main Refinancing Rate, […]
Queen’s Birthday Holiday Trading Schedule 2020
Dear Trader, Please find our updated Trading schedule for the Queen's Birthday Holiday in Australia on Monday, 08th June 2020. Times mentioned below are Platform time (GMT +3).
