Weekly gain/loss: - 88 pips
Weekly closing price: 1.1047
Weekly opening price: 1.1045
Weekly view: From the top, we can see that weekly movement continues to trade mid-range between a long-term weekly resistance area coming in at 1.1533-1.1278, and a long-term weekly support line seen at 1.0796. Both areas have stood the test of time, and with that either one...
Starting from the top this morning, the Aussie currency continues to remain afloat above the weekly demand base drawn from 0.7438-0.7315. The next upside target from this area is seen at 0.7604 – a battle-tested weekly resistance barrier. Sliding down into the daily chart, however, one can see that price has spent the week fluctuating around daily demand painted...
Following a rather aggressive opening to the week, a strong wave of bids came into this market from the H4 mid-way support line at 0.7450. As can be seen from the H4 chart this buying continued throughout the day, with the commodity currency topping out at highs of 0.7544.
Daily supply at 0.7517-0.7451, along with its partner supply on the H4 chart at...
Weekly gain/loss: + 53 pips
Weekly closing price: 1.1135
Weekly opening price: 1.1124
Weekly view: From the weekly timeframe, we can see that price is now effectively trading mid-range between a long-term weekly resistance area coming in at 1.1533-1.1278, and a long-term weekly support line seen at 1.0796. Both areas have stood the test of time, and as such...
Going into this morning’s open, we can see the yellow metal is extremely well-bid. Consequent to this, price is currently approaching the daily Quasimodo resistance band at 1333.4, which, in our book, is a very interesting level for the following reasons:
• Weekly bears also testing a weekly Quasimodo resistance at 1331.0.
• H4 61.8% Fib resistance line at 1337.9...
The value of the USD/JPY increased for the fourth consecutive day yesterday, bringing the pair to highs of 103.29 by the close. Consequent to this, weekly price has now connected with a long-term weekly resistance line coming in at 103.22. In conjunction with this, daily action is also seen trading within touching distance of a daily supply base carved from...
Bolstered by a weaker dollar, the GBP rallied over 200 pips yesterday following a retest of the 1.33 handle as support. At the time of writing, H4 candles are seen lurking just above the 1.34 mark following a sell-off from 1.35. A retest of 1.34 will likely take place today and could potentially act as a suitable platform in which to hunt for long trades. Our...
Following Sunday’s 240-pip gap lower, the GBP continued to decline in value against the US dollar yesterday, erasing a further 200 pips in the process! In spite of price finding support around the 1.32 handle as well as trading back around referendum lows 1.3226 (marked support on the daily timeframe), this storm is far from over as political uncertainty continues...
Weekly gain/loss: - 191 pips
Weekly closing price: 1.1082
Weekly opening price: 1.1010
Weekly view: The weekly resistance area at 1.1533-1.1278, once again, played a big part in last week’s trading. Taking into consideration that this zone has primarily capped upside since May 2015 (see red arrows), we feel that price will eventually touch base with weekly...
Starting from the top this morning, it’s clear that the Aussie bulls remain on the offensive as price is now seen trading above weekly supply drawn from 0.7438-0.7315, and looks to be heading in the direction of weekly resistance at 0.7604. Meanwhile, down on the daily timeframe the commodity currency is flirting with the upper edge of daily supply coming in at...
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...
