Thursday 23rd July: Technical Outlook and Review
Increased demand for Europe’s shared currency took hold Wednesday as the US dollar index tumbled through its 95.00 handle. ECB's Lagarde expressed satisfaction concerning the recent EU fund agreement, as EUR/USD recorded its fourth consecutive daily gain.
Wednesday 22nd July: Technical Outlook and Review
Europe’s single currency, as you can see, strongly rose against a sinking dollar Tuesday. The EU striking a deal for a huge stimulus plan and upbeat risk sentiment led EUR/USD to highs above 1.15.
Tuesday 21st July: Technical Outlook and Review
From the weekly timeframe, EUR/USD recently marched through long-term trend line resistance, extended from the high 1.2555, and shook hands with the 2019 yearly opening level at 1.1445. The latter is currently displaying potential as resistance. With respect to the overall trend, the pair remains southbound until breaking the 1.1495 March 9 high.
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Thursday 16th July: Technical Outlook and Review
EUR/USD peaked heading into US hours Wednesday after the US dollar index regained some composure and recouped a large portion of earlier losses. A mild deterioration in risk sentiment elevated the dollar back to around the 96.00 handle, albeit tentatively.
Wednesday 15th July: Technical Outlook and Review
Key risk events today: BoJ Outlook Report, Monetary Policy Statement and […]
Tuesday 14th July: Greenback Modestly Recovers Ahead of US Inflation Data
The British pound concluded a shade lower against the greenback Monday, fading H4 Quasimodo resistance at 1.2653. Downside had the unit breach channel support, taken from the low 1.2257 (and retest the underside of the latter as resistance), and compete with orders at 1.26 as well as May’s opening level at 1.2583.
Friday 10th July: Technical Outlook and Review
EUR/USD, based on the H4 timeframe, chalked up a two-candle fakeout through Quasimodo resistance at 1.1340, reaching highs at 1.1370, and headed marginally south of 1.13 into the European close.
Thursday 9th July: Technical Outlook and Review
Recording its fourth consecutive daily gain Wednesday, GBP/USD attracted fresh buying as the DXY dipped a toe in waters south of 96.50. May’s opening level at 1.2583 and the 1.26 handle caved under pressure on the H4 timeframe, potentially setting the stage for an approach to Quasimodo resistance at 1.2653 and, with a little enthusiasm, the 1.27 handle.
