Weekly gain/loss: - 67 pips
Weekly closing price: 1.0589
Last week’s action shows that the EUR/USD extended its pullback from the 2016 yearly opening level at 1.0873, which could force the major to test the 2017 yearly opening level at 1.0515/support area at 1.0333-1.0502 sometime this week. With this area having been a considerable support and resistance zone in...
Of late, the GBP/USD has been seen ranging between the H4 mid-way support at 1.2450 and the psychological band 1.25. Of particular interest on the H4 chart, however, is the potential AB=CD bearish pattern that terminates around the upper edge of supply coming in at 1.2596-1.2568. Still, before this can come to fruition, April’s opening line at 1.2541 and the...
Underpinned by a weekly support area at 111.44-110.10, the bulls are showing signs of recovery. Providing that this continues, there’s potential for price to challenge the supply zone seen at 115.50-113.85. Down on the daily timeframe, however, the unit is seen trading within a resistance area coming in at 111.35-112.37. The pair is likely to find some resistance...
The EUR/USD, as you can see, has been trading south for the past three days, down from Monday’s high at 1.0905. Yesterday’s decline aggressively swallowed both the H4 demand at 1.0705-1.0723 (now acting resistance area) and the 1.07 handle, potentially opening up the path south down to a H4 demand fixed at 1.0607-1.0632.
Over on the bigger picture, we can see...
Despite the H4 demand at 1.0752-1.0769 holding firm yesterday, the EUR is under noticeable pressure. The selloff from the 2016 yearly opening level at 1.0873 has been strong. According to the weekly timeframe, and this is assuming that price also remains below resistance at 1.0819, the next downside target does not come into view until the 2017 yearly opening...
Weekly gain/loss: + 35 pips
Weekly closing price: 1.3377
Following the selloff seen from the 2017 yearly opening level at 1.3434 two weeks back, weekly price responded with a round of buying from a low of 1.3263 last week. Technically speaking, this could encourage further buying this week back up to the yearly level. Daily flow on the other hand, offers very...
Weekly gain/loss: - 80 pips
Weekly closing price: 0.7622
After crossing paths with the underside of a weekly trendline resistance taken from the high 0.7835, the bears pushed the commodity-linked currency lower last week. On the condition that this pair remains in the red, the next port of call can be seen at 0.7524-0.7446: a weekly support zone.
Climbing down...
Weekly gain/loss: + 82 pips
Weekly closing price: 1.2472
Despite weekly price boasting its second consecutive weekly gain last week, the pair is now seen trading within the walls of a supply zone visible at 1.2569-1.2404. Another key thing to note here is the closing candle’s end-of-week correction! In the event that the bears pull the unit lower this week, price...
For those who read Thursday’s report you may recall our desk suggesting that the bears may have the upper hand in this market. As you can see, H4 price closed below the H4 support area at 1.0797-1.0780, and quickly retested it as a resistance. In view of the higher timeframes also challenging a weekly resistance level at 1.0819, we have entered short on the close...
For those who read Wednesday’s report you may recall our team highlighting the H4 sell zone seen at 1.2523/1.25. The reasons for selecting this area were as follows:
• The 1.25 handle.
• A H4 trendline resistance taken from the low 1.2346.
• An 88.6% H4 retracement seen at 1.2518.
• A daily Quasimodo resistance level coming in at 1.2523.
• All of the above...
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...
