Monday 18th February: Weekly technical outlook and review.
A break above 1.13 this week (and also the daily resistance at 1.1302) has the 1.1341 Feb 13 high to target on the H4 scale, shadowed closely by December’s opening level plotted at 1.1350.
Friday 15th February: Greenback preserves gains above 97.00 as price builds on gains off monthly supply-turned support area at 95.13-92.75.
UK PM May lost her motion vote Thursday by a margin of 303 to 258. The Tory rebel ERG group were partly responsible for her defeat, after they chose to abstain the vote as the motion would have ruled out a no-deal Brexit option.
Thursday 14th February: The greenback preserves gains above 97.00, weighing on trading peers.
A blend of reasonably encouraging US macroeconomic data along with second-rate European and British numbers, specifically UK inflation, weighed on the single currency.
Wednesday 13th February: UK inflation figures to potentially weigh on sterling further.
The EUR/USD dipped its toe into bullish territory Tuesday, staging a modest rebound off H4 support at 1.1271 and recapturing the 1.13 handle. Shattering a six-day losing streak, the pair took advantage of broad-based USD weakness.
Tuesday 12th February: Fed Chair Powell takes center stage today – remain cautious around this time.
Despite limited macroeconomic presence out of both Europe and the US, demand for the greenback intensified Monday.
Monday 11th February: Weekly technical outlook and review
Boasting historical significance as far back as early February 2015 and capping upside action since late October 2018, long standing support/resistance at 1.1465, once again, contained upside last week
Friday 8th February: Canadian job’s figures eyed in early US today – remain vigilant around this time
H4 timeframe reveals price established support off 1.29, despite an aggressive whipsaw to session lows at 1.2854 mid-ways through London Thursday, post BoE announcement.
Thursday 7th February: Bank of England takes centre stage today – remain vigilant.
EUR/USD: The single currency sustained further losses Wednesday amid disappointing German […]
Wednesday 6th February: Greenback records fourth consecutive daily gain – setting the stage for further buying above 96.00
UK PM May hit the wires, defending the need for 'legally binding changes' to the Irish backstop. In addition to this, May’s spokesman confirmed the PM is to meet with EU's Tusk and Juncker on Thursday.
