Friday 30th October: Technical Outlook and Review
Europe’s shared currency, fuelled on surging COVID-19 cases as well as a downbeat evaluation of the Eurozone economic outlook from President Lagarde, extended losses against a broadly stronger buck on Thursday.
Thursday 29th October: Technical Outlook and Review
Risk aversion dominated market movement in recent trading, despite the safe-haven buck trading off best levels. EUR/USD sailed through the 1.18 level on the H4 timeframe, with enough force to take on August’s opening value at 1.1771 and test October’s opening value from 1.1730.
Wednesday 28th October: Technical Outlook and Review
Weighed by broad USD softness and US Treasury yields connecting with weekly lows, USD/JPY extended Monday’s 105 test on Tuesday, and consequently saw price cross swords with a familiar H4 Fibonacci support zone (161.8% Fibonacci projection point at 104.37 and 78.6% Fibonacci retracement ratio at 104.45).
Tuesday 27th October: Technical Outlook and Review
Key risk events today: US Core Durable Goods Orders m/m and […]
Friday 23rd October: Technical Outlook and Review
Amidst a moderate upturn in the US dollar index, snapping a four-day bearish phase, EUR/USD twisted lower Thursday and left H4 Quasimodo resistance at 1.1888 unchallenged (sited close by the 1.19 handle, along with an AB=CD correction point at 1.1905 [red arrows] and a 1.618 BC projection plotted at 1.1919).
Friday 16th October: Technical Outlook and Review
Key risk events today: US Core Retail Sales m/m and Retail […]
Thursday 15th October: Technical Outlook and Review
Key risk events today: Australia Jobs Figures; Philly Fed Manufacturing Index; […]
Wednesday 14th October: Technical Outlook and Review
The US dollar rebounded sharply Tuesday, guiding EUR/USD into a bearish environment. Technical price action on the H4 lost grip north of 1.18, and subsequently overthrew August’s opening value at 1.1771 and a trend line support, extended from the low 1.1684.
Tuesday 13th October: Technical Outlook and Review
Key risk events today: UK Employment Data; US CPI m/m. (Previous […]
