During the course of recent trading, we saw H4 price bounce beautifully from a 127.2% H4 Fib ext. point at 1335.6 and reach a high of 1348.9, before collapsing back to 1335.6. This move was likely bolstered by the fact that a daily support area at 1334.3-1323.3 is seen a few pips below 1335.6, and also considering that weekly price is re-engaging with weekly...
Leaving the 0.94 handle unchallenged, the USD/CHF edged lower on Tuesday, bottoming a few pips ahead of the 0.93 handle. Although the daily Quasimodo support at 0.9330 remains in the fray, buyers are struggling to register anything of note here. This could have something to do with the fact that weekly price shows that the market could potentially drop as far...
Despite the commodity-linked currency ranging over 70 pips on Tuesday, the unit was unable to muster enough strength to push out of its current H4 range. Since Monday, the AUD/USD has been trading between a H4 demand area at 0.8061-0.8081 and the 0.81 handle.
Taking into account that this market is entrenched within a steep uptrend at the moment, and is also...
Weekly gain/loss: -1.98%
Weekly closing price: 108.58
The USD/JPY suffered additional loss last week, wiping away 223 pips in value, or nearly 2%.Thanks to this latest bout of selling, weekly movement is seen trading within a reasonable distance of a weekly trendline support taken from the low 98.78, followed closely by a weekly support area at...
Weekly gain/loss: +1.46%
Weekly closing price: 0.8108
Since weekly price struck the weekly channel support extended from the low 0.6827 seven weeks ago, AUD/USD bulls have been on the offensive. Last week’s action dragged the commodity currency to highs of 0.8135, breaking through weekly resistance at 0.8065 (now acting support) and possibly opening the stage for...
Weekly gain/loss: +2.22%
Weekly closing price: 1.4162
In a similar fashion to the EUR/USD, the British pound performed strappingly last week. The unit managed to record its sixth consecutive weekly gain and drive beyond a weekly resistance level plotted at 1.4079 (now acting support). Despite the pullback from highs of 1.4344, last week’s move could have possibly...
Weekly gain/loss: +1.68%
Weekly closing price: 1.2428
Despite the end-of-week correction from highs of 1.2537, the euro put in another solid performance last week.
Registering its sixth consecutive weekly gain, the unit managed to advance more than 200 pips!
While this is an incredibly impressive run, we still have to take into account that weekly price...
During the course of yesterday’s segment, the price of gold was met with strong selling from H4 supply at 1364.7-1360.9. Following comments from US President Trump regarding the strength of the US dollar, the currency rallied and thereby forced the yellow metal lower. As you can see on the H4 timeframe, the move saw price marginally whipsaw through a daily broken...
In the later hours of US trading on Thursday, the USD/JPY pair printed a sharp recovery from the H4 mid-level support at 108.50, erasing daily losses and reaching a high of 109.70. The main driver behind yesterday’s buying, other than daily price trading from support at 108.78 and the US dollar index connecting with a monthly support at 88.50, was comments from US...
The commodity-linked currency came under pressure amid US trading on Thursday, following comments from US President Trump saying that his administration ultimately wants to see a stronger US dollar.
After failing to generate much follow through beyond the 0.81 handle on the H4 timeframe, the pair exploded to the downside and concluded the day connecting with a...
USDX heading into some heavy-hitting support on the monthly scale at 88.50.
Bolstering this level is a 61.8% Fib support at 88.48 and two nearby trendline supports.
With the dollar continuing to press lower, gold prices remain in a bullish stance. Up over 1% on Wednesday, the move brought weekly price into within close distance of a weekly resistance base at 1375.5. This level has a history dating back to as far as early 2014, so be prepared for sellers to make an appearance!
Following the break of the daily Quasimodo...
After a near-seven week selloff, the weekly candles shook hands with a weekly support area coming in at 0.9443-0.9515 on Wednesday. This area has been in motion since late 2015, so the bears will likely have their work cut out for them! In the event that this area yields to the selling pressure, however, the next objective seen on this scale is drawn from...
Weekly price, as you can see, continues to trade in the direction of a weekly trendline support etched from the low 98.78, followed closely by a weekly support area at 105.19-107.54. Turning our attention to the daily timeframe, however, we can see that price is currently trading within shouting distance of support at 108.78, thanks to yesterday’s break of daily...
GBP bulls, once again, were seen flexing their financial muscle on Wednesday. Up 1.66% on the day, the pair managed to chew through offers around a weekly resistance level plotted at 1.4079 (now acting support). Technically speaking, this move has possibly unlocked the door for the unit to challenge the 2016 yearly opening level at 1.4732.
Looking down on daily...
Despite the price of gold trading a tad above a weekly resistance level at 1337.3 at the moment, the H4 and daily price is seen trading at a very interesting point!
On the H4 timeframe, the yellow metal is currently working the underside of a H4 AB=CD 127.2% Fib ext. point at 1342.0. Interestingly, this level is positioned nearby a daily Quasimodo resistance...
After failing to sustain gains beyond the 111 handle the USD/JPY fell sharply on Tuesday, taking out the H4 mid-level support band at 110.50 and closing out the day in the shape of a full-bodied daily bearish candle.
Directly beneath current price, the 110 handle can be seen on the H4 timeframe. Already in play, however, is the daily support level at 110.21....
Coming at you from the top this morning, weekly action is seen trading within shouting distance of a weekly resistance level plotted at 0.8065.This is a well-established level, going back as far as early 2010. Turning our attention to the daily candles, nevertheless, price remains sandwiched between a daily Quasimodo resistance at 0.8035 and a daily support area...
