In the early hours of yesterday’s segment, Aussie economic data showed a strong increase (61.6K) in the labor market in November, following October’s bleak 7.8K. This prompted strong buying in the AUD/USD market, consequently ripping through both the H4 Quasimodo resistance level at 0.7639 (now acting support) and also November’s opening level at 0.7659. The pair,...
The shared currency experienced a rather aggressive selloff on Thursday after failing to muster enough strength to breach the H4 mid-level resistance at 1.1850. Upbeat US retail sales and weekly unemployment claims fuelled the decline, which eventually gnawed through both the 1.18 handle and October’s opening level on the H4 timeframe at 1.1788. At this stage,...
In Wednesday’s report, we underscored a possible buy-the-retest scenario at a recently broken H4 Quasimodo line drawn from 24476. As is evident from the H4 timeframe this morning, price retested this line beautifully during yesterday’s segment, and even chalked up a nice-looking H4 buying tail as additional confirmation. Well done to any of our readers who managed...
For those who read Wednesday’s report you may recall that we felt further selling was on the cards, as nearby H4 demand appeared to be consumed (check out the H4 buying tails marked with a green arc). Weak US inflation and a somewhat dovish Yellen helped force the US dollar aggressively lower on Wednesday. Well done to any of our readers who held shorts from...
After a somewhat aggressive retest of December’s opening level seen on the H4 timeframe at 0.7562 amid early London hours, the pair drove skywards. The first round of buying appeared to be on the back of disappointing US inflation figures, which lifted the commodity currency up to the 0.76 handle. A few hours later, the dollar sustained further losses after the...
In recent sessions, the EUR/USD extended its bounce from the H4 Quasimodo support level at 1.1722, taking out October’s opening level seen on the H4 timeframe at 1.1788 and also the 1.18 handle. The Federal Reserve, as expected, increased its benchmark interest rate by 25bps to 1.50%. However, as far as we can see, the US dollar was sold on the fact that the rate...
Litecoin has been an absolute beast of late!
Where does it go from here, though? Will the $300.00 support remain firm, or will the market head for daily demand at 213.30-235.00?
The crypto #Ripple is currently on fire! Recently powering its way through the 17/05/17 high 0.39887, the unit shows little sign of tiring yet.
Would a buy a retest of 0.39887 be too much to ask?
Working our way from the top of the charts this morning, it is clear to see that stops below the weekly support area at 1251.7-1269.3 (now acting resistance area) are highly likely consumed. By and of itself, this may have unlocked the door for the sellers to probe as far south as the weekly support line coming in at 1214.4.
However, before this can be...
US equities advanced to a fresh record high of 24548 on Tuesday, after conquering the H4 Quasimodo resistance level coming in at 24476. At this point, sellers’ stop-loss orders are likely filled, with this line now likely to offer a base of support.
Direction:
• Long: Traders may want to consider exercising a bit of patience here and waiting for H4 price to...
In recent trading, H4 action lifted the pair to highs of 113.75 on the back of upbeat US PPI data. As can be seen from the H4 timeframe, however, price failed to sustain gains beyond 113.71/113.65 (H4 Quasimodo resistance/November’s opening line) going into the US session and retreated to lows of 113.37.
For those who read previous reports, you may recall that...
The AUD/USD managed to extend gains on Tuesday; consequently surpassing December’s opening level seen on the H4 timeframe at 0.7562 and reaching a session high of 0.7580. It was at this point, things started to turn sour for the commodity currency. Helped by better-than-expected US PPI data, H4 price mildly pared gains as we entered the US segment, forcing the...
Coming in from the top this morning, we can see that weekly price continues to paint a bearish image from the weekly channel resistance extended from the high 1.2673. According to the daily timeframe, further selling is likely to be seen up until the candles shake hands with a nearby broken daily Quasimodo support at 1.3279, which is positioned directly above a...
Weekly gain/loss: -1.33%
Weekly closing price: 0.7507
The AUD suffered a nasty decline amidst trading last week, chopping 107 pips off its value. This has, as you can see on the weekly timeframe, positioned weekly price around the weekly channel support extended from the low 0.6827. What’s interesting about this line is that it merges closely with a weekly 50.0%...
Weekly gain/loss: -0.98%
Weekly closing price: 1.1769
The single currency sustained additional losses last week, consequently closing the session a few pips beneath a weekly support area formed at 1.1880-1.1777. Potentially filling stop-loss orders here, we could either see a rotation back to the upside as bigger players look to buy into these orders or a...
Kicking this morning’s report off with a look at the weekly timeframe, we can see that price recently engulfed both the weekly demand base at 1251.7-1269.3 and its intersecting weekly channel support etched from the low 1122.8. Assuming that the bears remain in the driving seat here, the next weekly downside target to have on the radar is the support level coming...
The AUD/USD suffered further losses on Thursday amid a strong dollar across the board. As can be seen from the H4 timeframe, the pair is currently lurking a few pips ahead of the 0.75 handle. As highlighted in previous reports, the 0.75 handle is an area that continues to stand out. Here’s why:
• On the weekly timeframe, the weekly channel support extended from...
The British pound delivered a strong performance on Thursday on the back of recent developments surrounding the ‘Brexit’ situation. According to Reuters, Britain and Ireland are very close to reaching a border deal after the British PM delivered an updated offer in a bid to solve the current border dispute.
Several H4 tech resistances were consumed as a result of...
