Backed by daily price trading from a demand zone at 1.1242-1.1202, recent H4 action shows that the EUR/USD extended its bounce from H4 support at 1.1233 yesterday, managing to reach highs of 1.1337 on the day. In addition to this, the single currency wiped out H4 supply at 1.1303-1.1287, which, as you can see, was later on respected as demand. The green arrow seen...
Following yesterday’s rather aggressive open the shared currency continued to push north, quickly reaching highs of 1.1382 (just a few pips ahead of H4 Quasimodo resistance at 1.1392). It was from this point that we saw the EUR begin to change tracks, consequently erasing most of the day’s gains and ending the day connecting with a H4 demand at...
Weekly gain/loss: + $23.8
Weekly closing price: 1297.5
Weekly opening price: 1297.5
Weekly view: The gold market enjoyed another successful rally north last week, gaining close to $24 in value! In consequence, the yellow metal spiked above a weekly supply zone drawn from 1307.4-1280.0 and has begun to reverse tracks. This area has been visited twice already and...
Weekly gain/loss: - 283 pips
Weekly closing price: 104.08
Weekly opening price: 104.70
Weekly view: Last week’s sharp run to the downside pushed the USD into further losses against the safe-haven Yen, stripping close to 300 pips off its value. This, as can be seen from the weekly chart, saw this unit take out weekly demand at 105.19-107.54 (now acting supply)...
Weekly gain/loss: + 96 pips
Weekly closing price: 1.4346
Weekly opening price: 1.4457
Weekly view: Last week’s action, as can be seen from the weekly chart, saw the GBP recover from deep within weekly demand logged in at 1.4005-1.4219, eventually chiseling out a nice-looking weekly buying tail! Technically, the next upside target on this scale can be seen around...
On the back of a weak dollar, the yellow metal was once again heavily bid higher yesterday! This, as you can see, drove price above H4 supply at 1295.4-1291.9 (now acting demand), and has likely opened the path north for further upside towards a H4 Quasimodo resistance line penciled in at 1305.3.This Quasimodo is, as far as we can see, the last barrier of defense...
Fears of a ‘Brexit’ have been clearly weighing down on this pair, as cable recently dived below the 1.42 handle and plugged into a floor of bids around 1.41, which for now is seen holding firm. However, looking at the H4 candle action surrounding 1.41 its doubtful price will push higher from here in our opinion. The first visit (seen marked with a green arrow) was...
Shortly after the market opened, the shared currency ran into a strong floor of bids around H4 support drawn from 1.1233, consequently forcing the pair to retest the 1.13 handle going into the close. Well done to any of our readers who managed to pin down a position from this line as it was, alongside the H4 support seen below at 1.1219, a noted move to watch out...
Weekly gain/loss: - $29.6
Weekly closing price: 1273.7
Weekly opening price: 1273.7
Weekly view: The gold market enjoyed another successful rally north last week, gaining close to $30 in value! In consequence, the yellow metal is now trading within shouting distance of a supply zone drawn from 1307.4-1280.0. This area has been visited twice already and each time...
Weekly gain/loss: - 115 pips
Weekly closing price: 1.1246
Weekly opening price: 1.1246
Weekly view: As we can all see from the weekly chart this morning, the EUR/USD remains trading from supply seen at 1.1533-1.1278. Due to this area capping upside since May 2015 (see red arrows), we feel that the shared currency will eventually touch base with support penciled...
Mid-London trading saw the yellow metal resume its advance against the U.S. dollar yesterday from H4 support at 1260.0, off the back of weak equity markets. This brought gold to highs of 1271.6 and saw price shake hands with H4 resistance at 1270.6, which for now seems to be holding firm. Over on the weekly chart, we can see that there is a chance that the metal...
In recent sessions, we can see that the Aussie dollar sold-off from H4 supply at 0.7514-0.7486 and broke through Wednesday’s low 0.7430. To our way of seeing things, this may have unlocked the path south down to 0.7380/0.7400 (daily support at 0.7380/broken Quasimodo line 0.7390/psychological support 0.74 ).
With H4 price looking as though it wants to push...
The value of the EUR weakened in aggressive fashion during the course of yesterday’s sessions, dropping heavily from just below our H4 sell zone (comprised of a H4 resistance line at 1.1433 and a H4 61.8% Fib resistance at 1.1418 ). This, as you can see, cleared out bids from H4 support at 1.1367 (now acting resistance) and ended with price bottoming out just...
Reporting from the weekly chart this morning, it’s clear that the bears have been in control of this market since price connected with the underside of weekly supply carved from 1.0092-0.9928. With the next target not in view until weekly support seen at 0.9508, this pair, as far as we can see, has the potential to continue selling-off. In-line with what we’re...
Weekly gain/loss: + 182 pips
Weekly closing price: 0.7361
Weekly opening price: 0.7363
Weekly view: The past week saw the commodity currency sharply rebound from demand coming in at 0.7108-0.7186, which not only placed price within the jaws of supply at 0.7438-0.7315, but also erased three weeks’ worth of losses! In the event that the bulls continue to drive...
Weekly gain/loss: + 252 pips
Weekly closing price: 1.1361
Weekly opening price: 1.1350
Weekly view: After four weeks of continuous selling, the EUR staged a relatively impressive comeback last week. This, as you can see from the weekly chart, not only placed the pair back within the jaws of a major area of supply seen at 1.1533-1.1278, but it also clawed back...
During the course of yesterday’s sessions the commodity currency continued to drive lower, down from Wednesday’s peak at 0.7299. Mid-way through the London session, however, the Aussie clocked a new low of 0.7201, connecting with H4 channel support (0.7148) and just missing the 0.72 handle.
Now, given that weekly bulls appear to be having a little trouble pushing...
For those who read our previous report (see link below) you may recall us mentioning to watch for short entries around the H4 Harmonic bearish Gartley pattern (PRZ – yellow box ). What we also mentioned, nonetheless, was to expect a fakeout beyond the PRZ, since the USDX (U.S. Dollar index) showed a major-league H4 support lurking below current price (which at...
