Monday 16th March: Weekly Technical Outlook and Review
The 2019 yearly opening level from 1.1445 elbowed its way back into the spotlight last week, with bears reasserting their dominance and snapping a three-week winning streak. Down more than 180 points, price dipped its toes back within a descending channel formation (1.1569/1.1215), and is poised to revisit support priced in at 1.0873 (the 2016 yearly opening level) this week, in line with the primary trend, drifting south since 2018.
Friday 13th March: Safe Havens Fail to Advance as Market Panic Continues
Europe’s single currency attempted a comeback against the buck off the 61.8% Fibonacci retracement ratio at 1.1053 on the H4 scale, a touch north of March’s opening level at 1.1045, after free falling from highs at 1.1333.
Thursday 12th March: ECB Takes Centre Stage.
Europe’s shared currency coasted lower Wednesday, fading session peaks at 1.1366. As markets ready themselves for the European Central Bank, H4 price is seen languishing marginally south of 1.13, testing lows of 1.1257. US inflation data (CPI) announced modestly optimistic figures in February, though was largely ignored by market price.
Wednesday 11th March: Upbeat Market Sentiment Drives Dollar to Higher Ground
Sentiment somewhat steadied Tuesday, prompting a rebound in US Treasury yields and the US dollar index. The DXY reclaimed 96.00 to the upside and is poised to shake hands with 96.50.
Tuesday 10th March: Technical Outlook and Review.
Europe’s single currency firmed Monday, benefitting from continued decline in US Treasuries and the dollar’s demise. the DXY cracked 95.00, levels not seen since October 2018. 1.14 was taken to the upside in early trade, with the latter pencilling in support for the remainder of the day.
Monday 9th March: Weekly Technical Outlook and Review
EUR/USD bulls went on the offensive last week, sharply extending gains. Adding more than 250 points, price bettered long-term channel resistance, extended from the high 1.1569.
Friday 6th March: NFP Day – Remain Vigilant
Key risk events today: Canada Employment Change and Trade Balance; US […]
US Daylight Savings & Server Time Changing to GMT+3
Dear Trader, On Sunday the 08th of March, IC Markets Trading servers will move forward by one hour from GMT+2 to GMT+3 as the US will enter daylight savings.While trading for most products will remain unaffected, there will be a change in the trading hours of some products.
Thursday 5th March: Technical Outlook and Review
Key risk events today: OPEC Meetings; BoE Gov Carney Speaks; BoC […]
