Wednesday 21st October: Technical Outlook and Review
As the DXY toys with breaking 94.00 support, down 0.4% on Tuesday, EUR/USD, following a retest at August’s opening value at 1.1771, destroyed a number of key resistances on the H4 timeframe.
Monday 19th October: Weekly Technical Outlook and Review
GBP/USD, as you can see, recently recoiled from support at 1.2739 (a 2019 yearly opening value), a level blending with trend line resistance-turned support, extended from the high 1.5930. It is worth pointing out the aforementioned trend line was engulfed in late July this year, announcing an uptrend could be on the cards.
Friday 16th October: Technical Outlook and Review
Key risk events today: US Core Retail Sales m/m and Retail […]
Thursday 15th October: Technical Outlook and Review
Key risk events today: Australia Jobs Figures; Philly Fed Manufacturing Index; […]
Wednesday 14th October: Technical Outlook and Review
The US dollar rebounded sharply Tuesday, guiding EUR/USD into a bearish environment. Technical price action on the H4 lost grip north of 1.18, and subsequently overthrew August’s opening value at 1.1771 and a trend line support, extended from the low 1.1684.
Tuesday 13th October: Technical Outlook and Review
Key risk events today: UK Employment Data; US CPI m/m. (Previous […]
Monday 12th October: Weekly Technical Outlook and Review
Stirred by the US dollar index receding to levels not seen since September 21 (in danger of potentially losing 93.00 status), Europe’s shared currency outperformed over the course of last week.
Friday 9th October: Technical Outlook and Review
A day after FOMC and the VP Presidential debate, financial markets echoed a subdued tone Thursday. The Australian dollar chalked up modest gains against the US dollar, following an early retest at August’s opening value from 0.7128 on the H4 timeframe. Upside momentum, though, as you can see, slowed as price crossed swords with October’s opening value at 0.7169.
Thursday 8th October: Technical Outlook and Review
Bolstered on the back of underlying support from a weaker buck amid an improvement in risk sentiment, Europe’s shared currency defended October’s opening value at 1.1730 on the H4 timeframe Wednesday and drove price into August’s opening value at 1.1771.
