Weekly gain/loss: + 426 pips
Weekly closing price: 110.85
Weekly view: The US dollar continued to soar last week following the prior week’s engulfing candle, pressuring the unit to chomp through offers at a resistance area drawn from 105.19-107.54 (now acting support), with price ending the session colliding with supply coming in at 111.44-110.10. Upbeat US data,...
Weekly gain/loss: - 208 pips
Weekly closing price: 0.7331
Weekly view: Recent weekly action shows that the AUD/USD extended its downward decline from supply at 0.7849-0.7752, resulting in price violating a channel support line extended from the low 0.6827 and diving deep into the jaws of a support area coming in at 0.7438-0.7315. As much as this area stretches...
Weekly gain/loss: - 270 pips
Weekly closing price: 1.0583
Weekly view: The shared currency sustained further losses last week, consequently breaking through the yearly opening level at 1.0873, a support at 1.0819 as well as a trendline support extended from the low 0.8231. The next downside target from this point comes in at 1.0333-1.0502: a support area that...
During the course of yesterday’s sessions, we saw the Swissy reclaim parity (1.0000) for a second time and advance north, following upbeat US housing data and Jobless claims as well as comments made by Fed Chair Janet Yellen regarding the possibility of an interest-rate hike.
As of current price, the pair is seen touching gloves with the 1.01 handle, which...
Shortly after Yellen’s testimony in Congress yesterday, the USD/JPY continued on its upwardly path, taking out H4 supply at 109.70-109.45 and closing the day marginally above the 110.00 handle. While yesterday’s close is considered a bullish cue, we still have to take in account what’s occurring over in the bigger picture. Weekly price recently crossed swords with...
Weighed on heavily by a poor Australian employment print, the pair, after ever so slightly bouncing from the H4 Quasimodo support at 0.7451 (a level our desk highlighted as somewhere price would likely react from), fell sharply and ended the day shaking hands with the 0.74 handle.
Recent losses also saw the unit nudge below the daily support area at 0.7517-0.7451...
In the early hours of yesterday’s London segment, the EUR resumed its decline against its US counterpart, eventually closing below 1.07 and testing the 1.0646-1.0689 area, a small hidden H4 demand (seen clearer on the H1). As we write, we can see that price is retesting the underside of 1.07. Should the bulls succeed in breaking through this barrier, the H4 supply...
Thanks to a healthy round of buying over in the oil market yesterday, the USD/CAD fell sharply, largely ignoring the better than expected US retail sales reading, and ending the day just ahead of November’s opening level at 1.3419. November’s opening level is interesting. Not only is the number bolstered by a H4 50.0% Fib support at 1.3425, but it is also...
Across the board, we saw the US dollar extend higher yesterday, consequently pressuring the shared currency to fresh lows of 1.0709 on the day. What this move also accomplished was a clean break through weekly support at 1.0819, which, as you can see from the chart, has now positioned the weekly candle around a trendline support drawn from the low 0.8231. In...
Weekly gain/loss: + 957 points
Weekly closing price: 18841
Weekly opening price: 18841
Weekly view: During the course of last week’s session, US equities tapped the yearly opening level at 17554 and ended the week closing over 950 points in the green! Impacted largely by Trump’s presidential win over Clinton, the index closed the week out above a trendline...
Weekly gain/loss: + 350 pips
Weekly closing price: 106.59
Weekly opening price: 106.88
Weekly view: The aftermath of last week’s US election allowed the recently closed weekly candle to form a reasonably large bullish engulfing formation. Before candlestick enthusiasts get too excited, nonetheless, you may want to take into account that the week ended with price...
Weekly gain/loss: + 80 pips
Weekly closing price: 1.2595
Weekly opening price: 1.2567
Weekly view: GBP bulls, once again, went on the offensive last week, consequently bringing the pair to highs of 1.2673 by the close. This, as you can see, is the second consecutive weekly gain. Providing the bulls continue to dominate, we might, just might see price connect with...
Yesterday’s action was FULL of surprises! Donald Trump was elected as the 45th President of the US. In addition, the dollar also advanced against the majority of its major trading peers, which is not something our desk was expecting in the case of a Trump win! The EUR clocked a high of 1.1299 during the event and ended the day closing nearby its daily lows at...
During the course of yesterday’s sessions, the commodity currency firmly established itself around the 0.77 figure and subsequently rose to a high of 0.7778 by the day’s close. Riskier assets are clearly the favored approach among investors for the time being, supporting a Clinton win who, at the time of writing, currently leads by 7 points in the polls.
From a...
Weekly gain/loss: + $28.5
Weekly closing price: 1304.2
Weekly view: From the weekly viewpoint, we can see that bullion pressed higher into the resistance area coming in at 1307.4-1280.0 last week. This move marks the third consecutive weekly gain for this market since bottoming out at lows of 1241.2. A decisive close above the current barrier could bring about a...
Weekly gain/loss: - 195 pips
Weekly closing price: 0.9679
Weekly view: Recent action shows that the Swissy extended its bounce from the underside of the supply at 1.0092-0.9928 last week, chalking up an impressive full-bodied bearish candle into the close. To our way of seeing things, as long as the bears continue to dig lower here there’s a possibility that the...
Weekly gain/loss: - 157 pips
Weekly closing price: 103.09
Weekly view: After connecting with the underside of a resistance area drawn from 105.19-107.54 two weeks ago, the buyers, as you can see, took a backseat. Engulfing three prior weekly candles, last week’s run to the downside has, in our estimation, possibly set the stage for a continuation move south to...
Weekly gain/loss: + 76 pips
Weekly closing price: 0.7670
Weekly view: Following two bearish back-to-back selling wicks, the commodity currency changed course last week and rallied higher. This, as you can see, forced the market to close above a trendline resistance taken from the high 0.8295 (now acting support) which has potentially opened the trapdoor for a...
