Weekly gain/loss: +0.26%
Weekly closing price: 1.2027
Despite the fact that the EUR/USD ended the week in the green, the pair chalked up a weekly bearish selling wick around a weekly resistance level coming in at 1.2044, and a 127.2% weekly Fib ext. point at 1.2081. This could point to a potential breach of the 2018 yearly opening level seen on the weekly...
Weekly gain/loss: +0.53%
Weekly closing price: 1254.8
Both weekly demand at 1251.7-1269.3 and the weekly channel support extended from the low 1122.8 suffered a decisive break two weeks back. In previous reports, we highlighted that this area would likely offer some resistance to the market with it having been a reasonably strong base of demand in the past. Last...
Weekly gain/loss: +1.88%
Weekly closing price: 0.7640
A small area seen comprised of a weekly channel support extended from the low 0.6827, a weekly 50.0% value at 0.7475 taken from the high 0.8125 and a nice-looking weekly AB=CD (see black arrows) 161.8% Fib ext. point situated at 0.7496, managed to rotate price beautifully and rally over 130 pips last week!...
Weekly gain/loss: -0.52%
Weekly closing price: 1.3317
After shaking hands with the weekly channel resistance extended from the high 1.2673 a few weeks back, the British pound has displayed signs of weakness. Further losses from this area could eventually see the pair complete a weekly AB=CD (see black arrows) 127.2% ext. point at 1.2882, which happens to...
EUR/USD:
Weekly gain/loss: -0.13%
Weekly closing price: 1.1746
The euro suffered its third consecutive loss last week, down from an overall peak of 1.1961. According to the weekly structure, further downside remains a strong possibility as there is little weekly support seen on the radar until we reach 1.1616. The other key thing to note on the weekly...
The bounce from the daily AB=CD 161.8% Fib ext. point at 1238.9 attracted fresh buying in recent trade, pushing the daily candles back up to a daily resistance area coming in at 1251.7-1265.2. Traders might have also noticed that surrounding this daily zone is a larger resistance area plotted on the weekly timeframe at 1251.7-1269.3 that intersects with the...
Looking at this market from the top this morning, we can see that weekly support at 1.2778 remains in the fray. A strong bid from this area could lead to weekly price challenging the weekly resistance area pegged at 1.3006-1.3115. Daily price, on the other hand, continues to form a somewhat bearish tone after selling off from a daily supply area at 1.2943-1.2885...
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...
