For those who read our previous report you may recall that our team mentioned to watch for shorting opportunities around the underside of the recently broken H4 channel support extended from the low 1.2767. As is shown on the H4 chart, price responded just beautifully from this line, selling off heavily into the day’s close. Well done to any of our readers who...
As we moved into yesterday’s US session the USD/JPY pair came alive! A strong wave of bids flooded the market, consequently consuming the H4 resistance at 101.40 (now acting support) and ended the day touching gloves with the psychological number 102. Beyond 102, we can see that there’s a nearby H4 supply found at 102.83-102.43, followed closely by the 103...
Once again working our way from the top, weekly price is currently seen respecting the weekly trendline resistance extended from the high 0.8895. As mentioned in the previous analysis, should offers hold ground here, a push back down to test the weekly support boundary at 0.7604 may be on the cards.
Climbing down into the daily chart, back-to-back daily selling...
The EUR currency settled below the H4 mid-way support at 1.1150 yesterday, following a modest sell off from just ahead of the H4 sell zone (green area) seen at 1.12/1.1192. This move erased more than fifty percent of Wednesday’s gains, and was likely boosted by price bouncing from H4 support at 95.48 over on the USDX.
Given the strong close beyond 1.1150 and the...
During the course of yesterday’s sessions, price tagged offers around the daily resistance level given at 1354.6, which, as you can see, managed to rotate the yellow metal to the downside. At the time of writing, the buyers and sellers are seen battling for position within a H4 support area at 1347.0-1342.4. However, in view of the rebound seen from the current...
Going into the early hours of yesterday’s London session, the USD/CAD retested the underside of the recently broken H4 channel support (1.2767) and sold off down to the key figure 1.30. For those who read our previous report on the loonie you may recall that this was a noted move to watch for. We also went on to highlight 1.30 as a particularly interesting buy...
Working our way from the top this morning, we can see that weekly movement recently connected with a weekly trendline resistance taken from the high 0.8895. Should offers hold ground here, a push back down to test the weekly support boundary at 0.7604 may be on the cards. Looking down to the daily chart, the commodity-linked currency recently spiked above a daily...
Using a top-down approach this morning, the weekly chart shows price is now trading within touching distance of a weekly trendline resistance extended from the high 0.8895, which has managed to hold the Aussie lower on two previous occasions. Turning our attention to the daily chart, the candles remain flirting with the lower edge of a daily supply area at...
With the USDX seen plunging lower from H4 resistance at 96.50 yesterday, this, as can be seen from the chart, lifted the EUR pair above the 1.11 handle to highs of 1.1125 on the day. Despite this recent recovery, our team still favors further downside. Here’s why:
• Possible H4 three-drive formation is now seen in the works taken from the high 1.1233. In the...
Weekly gain/loss: -159 pips
Weekly closing price: 1.3063
Weekly open price: 1.3075
Weekly view: As can be seen from the weekly chart, the recently closed weekly candle chalked up a relatively strong-looking bearish engulfing formation, which has smothered two prior weekly candles! By and of itself, this could suggest that cable may plunge lower this week. As far...
Weekly gain/loss: - 84 pips
Weekly closing price: 1.1083
Weekly open price: 1.1076
Weekly view: From the weekly chart, we can see that the single currency rotated to the downside last week just ahead of a major weekly resistance area drawn from 1.1533-1.1278. Providing that sellers remain in the driving seat this week, the next downside target can be seen at...
Weekly gain/loss: + 141 pips
Weekly closing price: 0.7595
Weekly opening price: 0.7589
Weekly view: The past week saw the commodity-linked currency bounce from the top edge of a weekly support area at 0.7438-0.7315 back up to a weekly resistance line at 0.7604. Given this level’s history, our team favors a bounce to the downside this week.
Daily view: Thanks to...
Weekly gain/loss: + 212 pips
Weekly closing price: 1.1167
Weekly opening price: 1.1169
Weekly view: From this viewpoint, the EUR/USD appears to be heading back up to retest the weekly resistance area chalked in at 1.1533-1.1278. This zone has certainly stood the test of time, capping upside since May 2015. Therefore, do keep a close eye on this barrier as it will...
As London buyers entered the fray yesterday the Swissy pair rocketed over eighty pips north, reaching highs of 0.9927 on the day! This, as you can see, pushed price up to within striking distance of a H4 supply zone drawn at 0.9950-0.9934, which boasts a nice-looking H4 Quasimodo resistance line at 0.9937. What this recent drive north also did was push daily price...
From the top this morning, we can see that the weekly bulls are currently making an appearance just ahead of a weekly support area drawn from 0.7438-0.7315. From a technical standpoint, our team sees very little stopping the commodity-linked currency from retesting the weekly resistance line at 0.7604. Lower down the curve on the daily chart, the major closed back...
As can be seen from the H4 chart this morning, the EUR/USD managed to chalk up a close above the key figure 1.10 early on in yesterday’s sessions. However, once London opened their doors for business, price tagged a small H4 supply zone at 1.1040-1.1028 and rotated south, consequently closing back below 1.10. Given this recent action, today’s spotlight is still...
Mid-way through yesterday’s London session US stocks plummeted lower, consequently clocking a fresh low of 18452 on the day. To keep this analysis straightforward and easy to understand, here’s what our team has jotted down going into today’s sessions…
• Possible H4 three-drive approach forming en route to a H4 demand zone coming in at 18309-18356.
• The tails...
Weekly gain/loss: - 64 pips
Weekly closing price: 1.3108
Weekly opening price: 1.3144
Weekly view: In comparison to the last few weeks, the pair ranged a mediocre 250 pips last week, consequently forming what most candle enthusiasts would label an ‘inside candle formation’. Directly above current price, there’s a weekly resistance area at 1.3501-1.3804, while to...
