Following the beautiful reaction from our H4 buy zone at 107.50/108.00, further buying was seen during the course of yesterday’s sessions. Thanks to this, psychological resistance 109.00 was taken out, and came very close to being retested as support before continuing to gravitate to highs of 109.40 by the day’s end.
This recent surge in buying was a thing of...
The value of the EUR currency weakened in aggressive fashion on Wednesday, clearing out bids from both a broken H4 Quasimodo support line at 1.1338 and the psychological support 1.1300. Despite lower than expected U.S. retail sales data, the single currency remained below the 1.1300 line going into the close.
Technically, this recent sell-off should not really...
Kicking-off this morning’s analysis from the daily chart, we can see that price peeked above supply at 1260.1-1243.4 during the course of yesterday’s session. The day ended with the market forming an indecision candle, with a slight edge seen going to the bears. This – coupled with the weekly chart showing some active supply around the 1270.8-1250.3 region (see...
In recent trading, we can see that a little bit of life is beginning to emerge from weekly demand at 105.19-107.54. Assuming that the bulls continue nudging this market higher from here, the next port of call will likely be weekly resistance chalked up at 110.09. Turning our attention to the daily chart, demand at 107.60-108.35, which sits only a few pips above...
Following the rebound from the underside of a weekly trendline support (now acting resistance) taken from the low 0.9078, further downside was seen in this market last week. As a result, price drove deeper into weekly demand at 0.9476-0.9608, and closed to-the-pip at a weekly Quasimodo support line coming in at 0.9526, so do keep a tab on this area this week as...
Last week’s sharp run to the downside pushed the U.S. dollar into further losses, stripping over 350 pips off its value. This bearish assault took out weekly support at 110.09 (now acting resistance), and closed the week just ahead of weekly demand (105.19-107.54) at 108.04. Along the same vein, daily trading also collided with demand at 107.60-108.35, which sits...
The past week’s trading saw the commodity currency decline over 120 pips in value settling at 0.7546. Weekly activity shows that price sold off from a 61.8% Fibonacci resistance line at 0.7646, which managed to force this unit to close back below resistance at 0.7604. Assuming that the bears continue with this pressure this week, we may see the Aussie cross swords...
Although Cable remains afloat above the weekly broken Quasimodo support line at 1.4051, the bulls appear to be struggling here as the week ended with a 100-pip loss going into the close 1.4120. Technically, the reason for why this market failed to push higher likely stems from the supply zone seen on the daily chart at 1.4578-1.4467, which managed to force daily...
Using a top-down approach this morning, we can see that the single currency remains housed within weekly supply drawn from 1.1533-1.1278. Despite seeing little selling interest here over the past three weeks, this area has managed to hold price action lower since May 2015 on five occasions, so the bulls still likely have their work cut out for them if they want to...
The EUR/USD had a spectacular week despite trading within the jaws of a major area of weekly supply at 1.1533-1.1278, gaining around 230 pips into the close 1.1390. This area has managed to hold price action lower since May 2015 on five occasions now, so the bulls likely have their work cut out for them this week if they want to push higher. The next key level to...
Going into yesterday’s European session price was seen driving lower, momentarily surpassing the H4 support area at 112.15-112.42 and tagging in bids just ahead of the 112.00 figure. This, as can be seen from the H4 chart, shows the bulls followed through with an offensive attack back up to retest resistance coming in at 112.61, which is also noted as resistance...
Starting from the top this morning, weekly action, as you can see, has edged itself higher into supply drawn from 1.1533-1.1278. The bulls will likely have their work cut out for them here since this area has held price lower since May 2015. Nevertheless, should this pair continue to drive north, the next key level beyond the current supply can be seen at 1.1745 –...
The value of the EUR strengthened in aggressive fashion on Tuesday following Dovish comments from Federal Reserve Chair Janet Yellen. H4 supply at 1.1259-1.1236 (now acting demand) was completely annihilated, which saw price attack offers around psychological resistance 1.1300 by the day’s end.
Despite yesterday’s bullish attack, the technical picture remains...
(Trade update: Stopped out for a loss at 1221.0).
Gold took a rather brutal hit to the mid-section yesterday, dropping over 28$ in one sitting due to a stronger dollar being seen across the board! As a result of this, H4 demand at 1237.2-1243.9 was annihilated (now acting supply), as was H4 demand at 1224.6-1226.8, which has just recently been retested as...
Another wet day for the Sterling market yesterday saw this pair take its third consecutive hit. Price took out the 1.4200 figure and went on to whipsaw through 1.4100 which came within three pips of hitting daily support at 1.4079 before snapping back to the upside. For those who read our previous report on this pair (see link below) you may recall us mentioning...
Beginning with a look at the weekly chart this morning, we can see that price remains loitering mid-range between supply painted at 1307.4-1280.0 and support drawn from 1224.1. At this point in time, there is, as far as we see, very little directional value coming in from this timeframe. Bouncing down to the daily chart on the other hand, the buyers and sellers...
Since the USD/CHF shook hands with daily support (Feb 11th low) at 0.9660 last Thursday, the pair has been grinding north. The word ‘grinding’ seems accurate here due to this market having risen less than 100 pips from that time! Looking above current prices on the H4 chart, one can see that the next obstacle for buyers to contend with falls in at a H4 supply...
The bearish pulse continues to beat in the EUR/USD market, as the single currency was forced down to the 1.1200 mark yesterday. Consequent to this, the bulls and bears are now seen battling for position between the above said round-number and a H4 supply positioned just above at 1.1259-1.1236. For those who have been following our reports over the past few days,...
