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, […]
Wednesday 3rd June: Technical Outlook and Review
The US dollar index, or more commonly referred to as the ‘DXY’, declined to levels not seen since March 13 on Tuesday after recording its sixth consecutive daily loss.
Tuesday 2nd June: Technical Outlook and Review
Despite Monday’s advance, a turn from 1.1157/1.1099 places 1.0995 on the hit list as support; alternatively, additional upside has resistance at 1.1239 calling for attention (essentially the same base as weekly QM).
Monday 1st June: Weekly Technical Outlook and Review.
Europe’s single currency journeyed to a peak of 1.1145 against its US counterpart last week, adding more than 200 pips into Friday’s close.
