Monday 7th October: Weekly technical outlook and review.
Europe’s shared currency staged a modest recovery against the buck last week, snapping a two-week bearish phase a few points ahead of the 2016 yearly opening level at 1.0873.
Friday 4th October: Dollar on the backfoot ahead of US job’s data.
Renewed Brexit optimism as well as a waning buck provided a healthy boost to the British pound Thursday, clocking session highs at 1.2413 and running stops above the 1.24 handle on the H4 timeframe.
Thursday 3rd October: US equities tumble consequently bidding safe havens higher.
US dollar index fell sharply Tuesday, weighed by technical selling off long-term weekly resistance at 99.62 and dismal US manufacturing data. Further losses were observed Wednesday, consequently propelling Europe’s shared currency higher for a second successive session.
Wednesday 2nd October: Weekly resistance 99.62 capping upside on dollar index; further selling possible.
EUR/USD’s technical landscape reveals weekly price bottoming a few points north of 1.0873, the 2016 yearly opening level. This follows a breach of long-standing demand-turned resistance area at 1.1119-1.1295 in August.
Tuesday 1st October: Dollar index clocks YTD highs with weekly resistance at 99.62 likely next in the firing range.
Key risk events today: Australia Building Approvals m/m; Australia Cash Rate […]
Monday 30th September: Weekly technical outlook and review
Persistent Brexit-related uncertainties continued to weigh on sterling Friday, down 0.26% against the buck. Following Wednesday’s completion of a head and shoulders topping formation off Quasimodo resistance at 1.2571.
Friday 27th September: Dollar index firm above 99.00 ahead of personal spending data.
The British pound ceded further ground to the buck Thursday, extending Wednesday’s precipitous 1.14% decline amid ongoing Brexit uncertainties and USD strength.
Thursday 26th September: G10 pairs succumb as dollar reigns and tests 99.00+.
The US dollar index rebounded with a vengeance yesterday, enthused by comments from Fed-voter Evans, who took a somewhat more neutral stance as he noted the US economy is ‘quite solid and is posting good growth’.
Wednesday 25th September: Formal Trump impeachment inquiry bolsters haven currencies.
EUR/USD bulls went on the offensive Tuesday, consequently snapping a two-day losing streak and adding more than 25 points, or 0.24%. Sentiment among German executives improved slightly, according to the Institute for Economic Research.
