Monday 10th August: Weekly Technical Outlook and Review
Total US non-farm payroll employment rose by 1.8 million in July, the Bureau of Labour Statistics reported Friday. Although beating expectations, we’re still a long way off the 4.791 million rise in June, which is unsurprising due to increasing COVID-19 cases across the US.
Friday 7th August: Technical Outlook and Review – NFP Eyed
Key risk events today: RBA Monetary Policy Statement; RBA Assist Gov […]
Thursday 6th August: Technical Outlook and Review
Europe’s shared currency extended recovery gains against the US dollar Wednesday, making considerable headway north of 1.18 on the H4 timeframe and shaking hands with 1.19.
Wednesday 5th August: Technical Outlook and Review
EUR/USD, on the H4 timeframe, touched gloves with the underside of 1.18 which, as you can see, held firm as resistance. North of here, voyaging to 1.19 is a possibility, whereas swinging lower from current price could push 1.17 back into the frame and trend line support, taken from the low 1.1254.
Tuesday 4th August: Technical Outlook and Review
The US dollar index kicked off the week on strong footing, eclipsing last Wednesday’s high at 93.80. Price, however, came within striking distance of the 94.00 handle and Tuesday’s high at 94.01, before rotating to 93.60ish levels into US hours.
Monday 3rd August: Weekly Technical Outlook and Review
XAU/USD bulls continue to reign supreme last week, adding more than $74 and stamping out fresh all-time peaks at 1983.1. With the yellow metal navigating unchartered territory at the moment, this remains a buyers’ market. In the event a pullback occurs this week, traders will likely be eyeballing 1921.0, the all-time peak formed in September 2011, as possible support.
Friday 31st July: Technical Outlook and Review
Sterling recorded a tenth consecutive daily gain on Thursday, receiving strong tailwinds amid broad USD weakness. After the US dollar index failed to sustain gains above 93.50, the DXY dropped to fresh 26-month lows ahead of the 93.00 handle, consequently lifting GBP/USD above the key figure 1.30 on the H4 timeframe, as well as Quasimodo resistance at 1.3017
Thursday 30th July: Technical Outlook and Review
Amidst further USD decline, the British pound made headway north of H4 support at 1.2939 (a prior Quasimodo resistance) and cornered the key figure 1.30 Wednesday, a level sited under H4 Quasimodo resistance at 1.3017.
Wednesday 29th July: Technical Outlook and Review
The Australian dollar nudged a shade higher against the US dollar Tuesday, pencilling in a range between 0.7177/0.7113. Structurally on the H4 timeframe, though, the 0.71 handle rests as nearby support, while last Wednesday’s peak at 0.7183 may form resistance, closely followed by Quasimodo resistance parked at 0.7193 and the 0.72 handle.
