During the course of yesterday’s sessions, the H4 candles remained sandwiched between a supply at 1.0828-1.0814 and a support area drawn from 1.0797-1.0780. Seeing as price concluded the day within the walls of this support area, there’s a possibility that the bulls may attempt to lift the pair north today. While this may be true, we believe the bears could have...
The GBP made considerable ground against its US counterpart on Tuesday, following upbeat UK inflation figures. The move broke through both a H4 trendline resistance extended from the high 1.2706 and a daily resistance logged in at 1.2430 (now acting support).
Thanks to this recent advance, there’s a rather attractive H4 sell zone seen just ahead (painted in...
Weekly gain/loss: - 209 pips
Weekly closing price: 112.68
A healthy bout of selling was seen in the market last week, erasing the prior week’s gains and breaking a two-week bullish phase. Providing that the bears can continue to stamp in their authority here, we see no reason why the weekly support area at 111.44-110.10 will not come into play.
Since...
Weekly gain/loss: + 227 pips
Weekly closing price: 1.2390
Following a two-week slide, renewed buying interest came in from a low of 1.2109 last week. Not only did this momentum form a sizeable weekly bullish engulfing candle, it also lifted the pair above the 2017 yearly opening level at 1.2390. While this is considered bullish, it might be worth noting that...
Weekly gain/loss: + 68 pips
Weekly closing price: 1.0730
The EUR/USD enjoyed another relatively successful week, increasing its value by a further 70 pips and printing its third consecutive weekly bullish candle into the close. Despite this, there could be trouble ahead. Plotted in our field of vision right now is a nearby weekly resistance level pegged at...
The single currency is marginally stronger today after the pair endured and finally conquered the H4 supply zone at 1.0753-1.0734. In view of the unit’s close proximity to a H4 supply at 1.0797-1.0780, what’s likely in store for this major today? Well, the current H4 supply is a rather interesting barrier. Not only does it boast February’s opening level at 1.0801...
The commodity currency gravitated north against its US counterpart yesterday after the FOMC decided to raise interest rates by 25bps. From the weekly scale we can see that price is currently back shaking hands with the weekly trendline resistance stretched from the high 0.8163. In the event that the bulls continue to press forward here, the next upside objective...
Following the FOMC’s decision to raise interest rates by 25bps, the US dollar plummeted lower and the EUR aggressively advanced. While this is not the ‘expected’ reaction to such an outcome, we believe the market wanted somewhat more of a hawkish response from the Fed Chair, which did not transpire. Furthermore, we feel the dollar was further weakened by the ‘dot...
During the course of yesterday’s sessions the USD/JPY aggressively whipsawed through the 115 handle, tapped the underside of a nearby H4 supply zone at 115.37-115.18, and proceeded to selloff going into the London segment. With the H4 candles now currently finding support just ahead of the H4 mid-way number 114.50, where do we go from here? Well, according to the...
Weekly action is currently seen defending the underside of a recently broken weekly Quasimodo line coming in at 1.22. On the condition that the pair remains bearish beyond this hurdle, then the next port of call on this scale can be seen around weekly support coming in at 1.1904. Looking down to the daily timeframe, yesterday’s candle tested daily support drawn...
Weekly gain/loss: + 49 pips
Weekly closing price: 1.0670
The EUR/USD market enjoyed another relatively successful week, increasing its value by a further 50pips into the closing bell. As you can see, the weekly support area at 1.0333-1.0502 and nearby 2017 yearly opening level at 1.0515 has so far held firm. Assuming that the bulls remain in the driving seat...
With China’s trade balance coming in at -60.4 billion CNY versus 172.5 billion expected, the Aussie dollar responded bearishly. Additional selling was seen during the early hours of London, which, as you can see, was later fuelled further by a better-than-expected US ADP print. As can be seen from the H4 chart, the pair has settled around the top edge of a H4...
Weekly gain/loss: + 187 points
Weekly closing price: 20990
The US equity market continued to climb north last week, registering its fourth consecutive weekly gain! With equities now trading at record highs, where do we go from here? Well, given that there is absolutely no weekly resistance levels in sight, the best we can do for the time being is continue looking...
Weekly gain/loss: + 62 pips
Weekly closing price: 1.0621
Following a three-week slide, renewed buying interest came into the market last week from the top edge of a major weekly support area at 1.0333-1.0502 that’s bolstered by the 2017 yearly opening level at 1.0515. In the event that the bulls continue to push forward this week, the next upside objective in...
In recent sessions, the Swissy pair aggressively pushed through the 1.01 handle and tapped a high of 1.0129. The buyers, however, failed to sustain gains beyond this number and dropped to a low of 1.0065 going into the later hours of the US segment.
As of now, we see little reason to short the 1.01 level since there is a far more attractive area above (in...
The pair, as you can see, sustained further losses during the course of yesterday’s sessions. After enduring and finally conquering the 1.23 handle in recent trade, the H4 mid-level support at 1.2250 is in firing range. What’s interesting here is the fact that this H4 level also fuses with a H4 AB=CD 127.2% Fib ext. at 1.2244 taken from the high 1.2706, and of...
For those who read Wednesday’s piece you may recall that our desk underlined the 1.05/1.0520 area (yellow H4 rectangle) as a promising buy zone. The reason for selecting this base was due to the following converging structures: a round number at 1.05, a H4 trendline support taken from the low 1.0339, January’s opening level at 1.0515, daily support at 1.0520 and...
Weekly gain/loss: - 75 pips
Weekly closing price: 112.14
Beginning with the weekly timeframe this morning, price looks to be on course to cross swords with a weekly support area drawn in at 111.44-110.10, which we believe will hold price. The reason for why simply comes from seeing the rather swift retest to the top edge of this zone following the break of this...
