Weekly gain/loss: +0.50%
Weekly closing price: 1.1662
Over the course of last week’s sessions, the single currency managed to recoup some of its recent losses. As can be seen on the weekly timeframe, this has positioned the unit within striking distance of a resistance line pegged at 1.1714. Boasting a reasonably strong history, we feel this line will very likely...
The USD/CAD came under pressure going into yesterday’s US session on US Senate tax plan disappointment. Outmuscling bids around the 1.27 handle, the pair managed to clock a low of 1.2667 going into the day’s end.
According to the H4 structure, the recent move has quite possibly opened up the path south down to the 1.26 handle. The large H4 tail marked with a...
The euro is marginally stronger today after H4 price finally conquered the 1.16 handle. Bolstered by confirmation that Senate Republicans plan to propose delaying tax cuts to corporations until 2019, November’s opening level at 1.1615 elbowed its way into the spotlight, which, as you can see, was able to hold ground going into the closing bell.
For those who...
For those who read Tuesday’s report you may recall that we were looking for price to outmuscle the 1.16 handle and tackle the nearby H4 demand base at 1.1541-1.1570. In early London hours on Tuesday, as you can see, 1.16 was engulfed and the noted H4 demand was confronted. The central motive behind selecting this base as a potential buy zone was simply down to...
Recently took a long position from 1.4807, with a stop-loss order set at 1.4765.
Details on the chart.
Will continue to monitor the position from our Twitter account here: twitter.com but will post end-of-trade results here...
Weekly gain/loss: +0.34%
Weekly closing price: 23506
US stocks extended higher for an eighth consecutive session last week, dragging the index up to a fresh record high of 23550. Should the unit pullback this week, the next weekly downside target in view is demand coming in at 22216-22431. On the daily timeframe, the closest demand base can be seen at...
Weekly gain/loss: +0.34%
Weekly closing price: 114.04
Over the past couple of weeks, the weekly supply at 115.50-113.85 has been on the radar. Although the sellers have yet to register anything noteworthy from here, this is not your average run-of-the-mill supply, as it has held price lower on two separate occasions so far this year. Therefore, there’s a chance...
Weekly gain/loss: -0.40%
Weekly closing price: 1.3075
Pound sterling sustained further losses last week, erasing 50 pips off of its value. Weekly price, as you can see, ended the week chalking up a bearish selling wick (pin bar) that tapped the underside of a weekly resistance level coming in at 1.3301. This could possibly fuel further selling this week since...
Weekly gain/loss: -0.04%
Weekly closing price: 1.1607
After aggressively crunching its way through the weekly support level at 1.1714 (now acting resistance), the euro failed to maintain this bearish momentum last week. In its place, weekly price chalked up a bearish selling wick (pin bar), suggesting that a possible move down to the weekly support at 1.1416 may...
Looking at the weekly timeframe this morning, the current candle looks poised to retest resistance pegged at 1.1714. The pair is likely to find some resistance here with it having been an obvious area of support from August. Cranking our way down to the daily timeframe, we can see that price has spent the week basing just ahead of a strong-looking demand area at...
Recent action shows that the GBP/USD extended Monday’s advance from the 1.32 handle, forming an additional near-full-bodied bullish daily candle. Bolstered on the back of the BoE possibly raising interest rates this week and the dollar looking somewhat fragile around the 94.54 region, will we see the British pound continue to advance against its US...
The euro made considerable ground against its US counterpart on Wednesday, despite US durable goods and new home sales figures reporting better-than-expected numbers. H4 price broke through both October’s opening level at 1.1788 and the 1.18 handle, with the pair now looking poised to challenge August’s opening level coming in at 1.1830.
1.1830, as you can...
Wednesday’s segment. Further losses were seen going into London, consequently transporting the H4 candles down to the 0.77 handle, which, as you can see, held firm throughout the remainder of the day.
Whether or not 0.77 can bounce prices back up to 0.7743 (a broken Quasimodo line that’s positioned nearby mid-level resistance 0.7750 and daily resistance at...
The impact of Wednesday’s better-than-expected UK Q3 GDP figures, as you can see, drove prices skyward. The H4 mid-level resistance 1.3150 and 1.32 handle were both submerged, clearing the path north for H4 price to shake hands with supply at 1.3287-1.3267 into the close. As you can probably see, this supply also boasts an AB=CD 127.2% extension at 1.3253, and...
