Thursday 3rd June 2021: Technical Outlook and Review
EUR/USD: Looking at the weekly chart, we can see that prices […]
Tuesday 1st June 2021: Technical Outlook and Review
EUR/USD: Looking at the weekly chart, we can see that prices […]
Friday 29th January: Technical Outlook
Amidst a broadly weak USD (a reaction to risk), Europe’s single currency clawed higher on Thursday. This followed Wednesday’s hammer pattern that whipsawed through 1.21 into the jaws of H4 demand at 1.2040-1.2064
Thursday 28th January: Technical Outlook
Key risk events today: US Advance GDP q/q; US Advance GDP […]
Wednesday 27th January: Technical Outlook
Despite price recently consolidating gains, the weekly timeframe shows AUD/USD has scope to reach as far north as resistance at 0.8127. In order to climb, however, daily Quasimodo resistance at 0.7784 must be conquered (shines the spotlight on another daily Quasimodo resistance at 0.7893).
Tuesday 26th January: Technical Outlook
Those long from daily demand at 30,310-30,637 or the H4 support zone at 30,578-30,633 (both areas were noted in Monday’s technical briefing) have likely reduced risk to breakeven, and perhaps liquidated a portion of their position.
Friday 22nd January: Technical Outlook
The round number 1.21 and trend line support combination (taken from the high 1.2344) persuaded a short-term bullish scenario on Thursday, elevating EUR/USD to 1.2150 resistance.
Thursday 21st January: Technical Outlook
Price action on the daily timeframe, despite recently establishing a bullish pivot reversal formation (green arrow), formed a clear-cut shooting star pattern on Wednesday—a bearish signal. Levels to be conscious of on the daily chart are trend line support, taken from the low 1409, and resistance at 1.3763.
Wednesday 20th January: Technical Outlook
Canada Inflation (CPI m/m); BoC Monetary Policy Report, Rate Statement, Overnight Rate and Press Conference; US Presidential Inauguration Day.
