Monday 14th October: Weekly technical outlook and review.
EUR/USD bulls remained on the offensive last week, extending the prior week’s recovery ahead of the 2016 yearly opening level at 1.0873, a reasonably notable support/resistance.
Friday 11th October: Safe-haven demand weakens as markets respond to US/China trade developments.
Europe’s shared currency, a beneficiary of dollar softness, clocked a weekly peak at 1.1033 Thursday before mildly paring gains into the close. The dollar index, or DXY, also overthrew 99.00 to the downside in recent movement, having shrugged off mixed US data in the form of CPI and weekly initial claims.
Thursday 10th October: US and Chinese officials square off today with higher tariffs looming if negotiators fail to break a five-month deadlock.
A spike in sterling to a session high of 1.2291 materialised amid London hours Wednesday, on the back of a time limited backstop rumour. The headline, however, was later denied by EU officials, also considered non-viable by DUP representatives.
Wednesday 9th October: Greenback buoyed north of 99.00 ahead of FOMC Meeting Minutes.
The US dollar index, or ‘DXY’, toppled its 99.00 threshold despite noticeably weaker-than-consensus US PPI data. Leaving 1.10 unchallenged, the H4 candles found resistance off September’s opening level at 1.0989, guiding the EUR/USD to a session low of 1.0940 on the day.
Tuesday 8th October: Dollar index trades south of 99.00; possible selling ahead.
Europe’s single currency kicked off the week subdued, ranging no more than 40 points against the US dollar. After clocking a session low of 1.0961, EUR/USD’s H4 candles shook hands with the key figure 1.10 (alongside September’s opening level at 1.0989) though failed to preserve an upside presence.
Monday 7th October: Weekly technical outlook and review.
Europe’s shared currency staged a modest recovery against the buck last week, snapping a two-week bearish phase a few points ahead of the 2016 yearly opening level at 1.0873.
Friday 4th October: Dollar on the backfoot ahead of US job’s data.
Renewed Brexit optimism as well as a waning buck provided a healthy boost to the British pound Thursday, clocking session highs at 1.2413 and running stops above the 1.24 handle on the H4 timeframe.
Thursday 3rd October: US equities tumble consequently bidding safe havens higher.
US dollar index fell sharply Tuesday, weighed by technical selling off long-term weekly resistance at 99.62 and dismal US manufacturing data. Further losses were observed Wednesday, consequently propelling Europe’s shared currency higher for a second successive session.
Australian Daylight Savings: Updated Trading Schedule 2019
Please find our updated Trading schedule as Australia will enter Daylight Savings Time on Sunday, 6th October, 2019.
