Friday 21st August: Technical Outlook and Review
Europe’s shared currency clawed back earlier losses against the US dollar Thursday to trade marginally positive into US hours – the US dollar index dived back under 93.00, fading session highs at 93.24.
Thursday 20th August: Technical Outlook and Review
The euro staged a sharp U-turn Wednesday as the DXY reclaimed fresh territory above 92.50, and US Treasury yields traded considerably off worst levels. Technically, following Tuesday’s fresh peak at 1.1965, a move that registered a sixth consecutive daily gain, EUR/USD twisted lower from daily resistance at 1.1940 Wednesday and dipped a toe in waters south of 1.19 (H4).
Wednesday 19th August: Technical Outlook and Review
The British pound extended to a fourth consecutive daily gain Tuesday amid an ongoing USD slump and sliding US Treasury yields.
Tuesday 18th August: Technical Outlook and Review
The Australian dollar outperformed Monday amidst a slump in US Treasury yields and a depreciating greenback. This witnessed H4 candles overwhelm offers residing around resistance at 0.7189 (now labelled support) and the 0.72 handle, a move that underlined daily resistance at 0.7235 as the next port of call.
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Friday 14th August: Technical Outlook and Review
Europe’s shared currency accelerated to the upside against the US dollar Thursday, dragging EUR/USD north of 1.18 to highs just above 1.1850.
Thursday 13th August: Technical Outlook and Review
The British pound maintained a mild bearish presence against the US dollar Wednesday, failing to glean much impetus from better-than-expected UK growth data. GBP/USD, based on the H4 timeframe, is seen floating north of the 1.30 key figure, a level boasting a connection with a Quasimodo support left shoulder (red arrow – 1.3004).
Wednesday 12th August: Technical Outlook and Review
Major US benchmarks slipped lower on Tuesday, weighed by losses in technology stocks. The Dow Jones Industrial Average dropped 104.53 points, or 0.38%; the S&P 500 declined 26.78 points, or 0.80%, while the tech-heavy Nasdaq 100 concluded lower by 209.09 points, or 1.89%.
Tuesday 11th August: Technical Outlook and Review
The US dollar index, or DXY, built on Friday’s advance during Monday’s session, clocking highs at 93.70. As a reminder, the DXY closed out last week recording a seventh consecutive decline.
