Weekly gain/loss: -0.80%
Weekly closing price: 0.9676
Despite a brief pause around the 2018 yearly opening level at 0.9744 two weeks ago, in the shape of a weekly indecision candle, the pair was incapable of mustering enough strength to defend the line last week and therefore descended lower. Provided that the bears remain in the driving seat, a gradual approach...
Weekly gain/loss: +0.41%
Weekly closing price: 1.2455
During the course of last week’s session, weekly movement beautifully retested the underside of the 2018 yearly opening level seen on the weekly timeframe at 1.2579. With the level holding firm, the week ended printing a strong-looking selling wick. Whether this selling is sustainable over the coming weeks is...
Weekly gain/loss: +1.39%
Weekly closing price: 1.2203
The euro was seen flexing its financial muscle once again last week, gaining over 170 pips. Weekly price crushed weekly resistance at 1.2044 (now acting support) and ended the week closing just ahead of a weekly AB=CD (black arrows) 161.8% Fib ext. point at 1.2222. Extra credibility is given to this line not...
Across the board, we saw the US dollar plummet against the majority of its trading peers on Thursday. This provided an already upbeat gold market a boost, pulling the yellow metal to highs of 1323.9 and positioning the H4 candles within striking distance of a H4 AB=CD completion area (127.2%: 1331.6/1325.4).
Now, going by the structure presented on the weekly...
In our previous report, we underlined a significant resistance zone between the 1.26 handle seen on the H4 timeframe and a H4 resistance band placed at 1.2580 (green rectangle). The reasoning behind selecting this area was due to the resistance holding back the buyers on Wednesday, as well as additional resistance coming in from the 2018 yearly opening level seen...
As can be seen from the H4 timeframe this morning, the commodity-linked currency found active buyers around H4 support coming in at 0.7869. On the back of a disappointing round of US economic data, the H4 candles were able to wind up closing the day just ahead of the 0.79 handle.
Over on the bigger picture, this translates to a push higher within the walls of a...
The US dollar came under fresh selling pressure on Thursday, following a disappointing round of US economic data. Producer Price Index numbers came in weaker than expected in December. In addition to this, the figure for seasonally adjusted initial unemployment claims printed at 261K vs. an expected 246K. The US dollar index fell to lows of 91.79 as a result of...
The US dollar came under fresh selling pressure on Thursday, following a disappointing round of US economic data. Producer Price Index numbers came in weaker than expected in December. In addition to this, the figure for seasonally adjusted initial unemployment claims printed at 261K vs. an expected 246K. The US dollar index fell to lows of 91.79 as a result of...
After retesting the H4 mid-level number at 1.2450 on Wednesday, the USD/CAD drove aggressively skywards. The Canadian dollar took a hit following a report (Reuters) that Canadian government officials say there’s an increasing likelihood US President Donald Trump will give six-month’s notice to withdraw from Nafta.
This lifted the H4 candles beyond the 1.25 handle...
The Aussie dollar took to the downside in early London hours on Tuesday, following a modest push to highs of 0.7864 on the back of stronger-than-expected AUD building approvals m/m. The move, as you can see on the H4 timeframe, posted a nice-looking H4 selling wick and a dominant full-bodied H4 bearish candle that swallowed both H4 support at 0.7843, and a H4...
The dollar recently tapped a weekly AB=CD (see black arrows) 127.2% Fib ext. point at 91.81. Price is showing promise from this angle thus far. Meanwhile, over on the monthly chart, the USDX is seen shaking hands with monthly support logged at 92.29, which unites closely with an impressive Fib support cluster.
Gold prices, once again, took on more of a subdued tone on Monday, despite the US dollar printing a healthy advance. Ranging a little over $7, the yellow metal remains capped around the underside of a daily supply at 1334.3-1323.3, and has been since the 4th January. Why are the bears finding it difficult to pursue lower prices from here? Could it be the fact...
Weekly gain/loss: +0.79%
Weekly closing price: 0.7858
The first week of 2018 has been a productive one for the commodity currency, as price extends December’s gains. The Aussie dollar managed to climb higher last week, despite the pair ending the year closing around the underside of a weekly supply zone penciled in at 0.7897-0.7813. In the event that the bulls...
Weekly gain/loss: +0.43%
Weekly closing price: 1.3563
The value of the British pound advanced for a third consecutive session during the course of last of last week’s trading. This, as you can see, lifted the pair to a weekly high of 1.3612 and saw the unit shake hands with a weekly channel resistance extended from the high 1.2673. In the case that this channel...
Weekly gain/loss: +0.26%
Weekly closing price: 1.2027
Despite the fact that the EUR/USD ended the week in the green, the pair chalked up a weekly bearish selling wick around a weekly resistance level coming in at 1.2044, and a 127.2% weekly Fib ext. point at 1.2081. This could point to a potential breach of the 2018 yearly opening level seen on the weekly...
Weekly gain/loss: +0.53%
Weekly closing price: 1254.8
Both weekly demand at 1251.7-1269.3 and the weekly channel support extended from the low 1122.8 suffered a decisive break two weeks back. In previous reports, we highlighted that this area would likely offer some resistance to the market with it having been a reasonably strong base of demand in the past. Last...
Weekly gain/loss: +1.88%
Weekly closing price: 0.7640
A small area seen comprised of a weekly channel support extended from the low 0.6827, a weekly 50.0% value at 0.7475 taken from the high 0.8125 and a nice-looking weekly AB=CD (see black arrows) 161.8% Fib ext. point situated at 0.7496, managed to rotate price beautifully and rally over 130 pips last week!...
