Weekly gain/loss: - 67 pips
Weekly closing price: 1.0931
The previous week’s action saw the single currency dive lower from 1.1016/1.0954 (red zone), which is made up of two weekly 127.2% Fib extensions taken from the lows 1.0340/1.0493.As you can see though, it was not smooth sailing for the bears as the 2016 yearly opening level at 1.0873 elbowed its way into...
The technical picture on the AUD/USD is interesting. Up on the weekly chart, price shows room to continue selling off until we reach the trendline support extended from the low 0.6827/2016 yearly opening level at 0.7282. Down on the daily chart, the unit also displays room to trade lower to a support area drawn from 0.7284-0.7326.
Looking over to the H4 chart,...
GBP/USD prices are little changed this morning, despite an earnest attempt seen from the bears to push this market lower. As we write, the bulls look poised to break back above the H4 mid-level resistance barrier coming in at 1.2950. This is not really something our team anticipated given that both weekly and daily action are currently seen trading around the...
Going into the early hours of yesterday’s US segment, the single currency gathered momentum and broke above a multi-day H4 range fixed between 1.0861/1.0950. With the major now seen within striking distance of the large psychological number 1.10, where do we go from here? Well, technically speaking, 1.10 looks as if it could be an ideal neighborhood to consider...
In recent trading, the 1.29 handle was taken out with price managing to reach a low of 1.2865 on the day. With 1.29 out of the picture for the moment this Fed-induced move has brought our attention down to the H4 mid-level support at 1.2850. To make a long story short, we like this region due to the following: a H4 61.8% Fib support at 1.2835, a H4 support at...
Following a somewhat hawkish FOMC yesterday, the EUR collapsed back below the 1.09 handle as the dollar broke to fresh highs. Despite this recent movement, the pair remains trading within a H4 consolidation fixed between 1.0861/1.0950.
To our way of seeing things, downside is heavily restricted! Not only is the lower edge of the H4 range now in view at 1.0861,...
The EUR/USD, as you can see, remains somewhat muted as the major continues to trade within a H4 consolidation fixed between 1.0816/1.0950. Of particular interest here, however, is the long wick seen formed on the 28th April at 1.0947 (green arrow). This candle’s extreme has potentially consumed a large amount of offers within the current range, which could see...
Weekly gain/loss: + 158 pips
Weekly closing price: 1.3652
The US dollar made considerable ground against its Canadian counterpart last week, consequently smashing through weekly resistance at 1.3588 and reaching a high of 1.3696. Looking at the strength of the bulls at the moment, a continuation move up to the 2016 yearly opening level at 1.3814 is likely in...
Weekly gain/loss: + 256 pips
Weekly closing price: 111.51
Having seen the USD/JPY gap over 150 pips north after a win by centrist Emmanuel Macron at the French presidential elections last week, we saw the unit enter into the jaws of a weekly supply coming in at 112.19-111.05. The gap, as can be seen from the weekly chart, has yet to be filled and the buyers and...
Weekly gain/loss: + 173 pips
Weekly closing price: 1.0897
Following a win by centrist Emmanuel Macron at the French presidential elections last week, the pair gapped 200 pips north, which, as you can see, has yet to be filled. Consequent to this, both weekly resistance at 1.0819 and the 2016 yearly opening level at 1.0873 are now acting supports. Also of note are...
Kicking this morning’s report off with a quick look-see at the weekly chart shows that the pair remains hovering above the 2016 yearly opening level at 1.0873/ resistance at 1.0819. However, it might be worth waiting for the weekly candle to close shop before presuming that these said resistances are consumed. Down on the daily candles we can see that price has...
The value of the US dollar strengthened in aggressive fashion against the Japanese yen yesterday, despite US consumer confidence coming in lower than expected. As can be seen from the H4 chart, the day ended with price closing above the 111 handle. Should the bulls remain in the driving seat here, there’s a good chance that the pair will strike April’s opening...
Going into the early hours of yesterday’s US segment, H4 price cleared the 1.09 handle on lower-than-expected US consumer confidence and ended the day touching gloves with mid-level resistance at 1.0950. While the bulls certainly appear in fine form this morning, traders may want to take into account that not only is 1.0950 now in play, but twenty or so pips above...
The EUR, as you can see, gapped 200 pips north at the open after a win by centrist Emmanuel Macron at the French presidential elections on Sunday. Despite this, H4 price very quickly entered into a phase of consolidation between 1.0877/1.0831.
Over on the daily timeframe, we can see that the major recently found support at 1.0850. Should the bulls continue to...
Weekly gain/loss: + 39 pips
Weekly closing price: 108.95
Looking at this market from the weekly scale, the pair clearly remains in bearish territory. Following the break of the support area at 111.44-110.10 two weeks back, the runway south still appears clear for the unit to test the support area coming in at 105.19-107.54 (holds an AB=CD 161.8% ext. at 107.14...
Weekly gain/loss: - 31 pips
Weekly closing price: 0.7543
As can be seen from the weekly chart, the bulls failed to generate much follow through after the prior week’s bounce from the support area marked at 0.7524-0.7446. Should the buyers eventually regain consciousness here, however, the next upside hurdle can be seen at a trendline resistance taken from the...
Weekly gain/loss: + 285 pips
Weekly closing price: 1.2806
The weekly trendline resistance extended from the high 1.2774 was aggressively taken out last week, thus allowing weekly price to marginally close beyond resistance at 1.2789. This could, technically speaking, imply that the buyers might look to challenge supply this week at 1.3120-1.2957.
Since Tuesday,...
Weekly gain/loss: + 122 pips
Weekly closing price: 1.0724
Downside momentum diminished last week as weekly buyers actively defended 1.0493-1.0605: a demand area that’s beautifully positioned around the top edge of the 2017 yearly opening level at 1.0515/support zone at 1.0333-1.0502. Looking above, the next areas to keep an eyeball on this week are resistance at...
