The aftermath of yesterday’s FOMC meeting which ended with rates left unchanged sparked a relatively volatile reaction, with the single currency quickly striking highs of 1.1360 and lows of 1.1270. Despite this, as can be seen from the H4 chart, price remains trading between H4 resistance at 1.1338 and the psychological support 1.1300. Looking solely at the H4...
Although the precious metal ranged around $43 last week, price closed just over a $1 lower than the previous week’s close at 1231.9. What this did was form a rather large selling wick (similar to the previous week) mid-way between weekly supply drawn from 1307.4-1280.0 and demand coming in at 1205.6-1181.2. From our perspective, both areas hold approximately the...
Following a very close shave with weekly demand at 105.19-107.54 two weeks back, price extended over 300 pips higher last week. As a result, weekly resistance at 110.09 (now acting support) was taken out, ending with the market closing around the underside of weekly supply (113.80-111.59) at 111.78. So with this in mind, we could witness some sort of a sell-off...
The past week saw the single currency take its second consecutive loss from within the confines of weekly supply seen at 1.1533-1.1278, erasing around 60 pips of value and ending the week closing on its lows at 1.1218. The decline from here should not really come as much of a surprise as this area has held price lower since May 2015. Speaking from the weekly...
Traders who have been following our recent reports on the Swissy may recall us highlighting a possible selling opportunity around the 0.9750 region. As of this point, our team is currently short from 0.97515 with a stop-loss order placed above at 0.9790.
For those new to this report, we built a case for entry based on the following points:
1. Weekly price...
Thanks to yesterday’s aggressive advance north to highs of 0.9733, our outlook for today’s upcoming trade is going to be relatively straightforward. With price seen trading at a small weekly supply marked with a pink circle at 0.9787-0.9695 and daily action closing in on a supply drawn from 0.9787-0.9755, this, as we’re sure you’ll agree, casts a certain bearish...
The EUR/USD pair cascaded lower from H4 supply at 1.1400-1.1383 during the course of yesterday’s sessions. Price engulfed H4 support at 1.1338 (now acting resistance) and went on to close below psychological support 1.1300 by the day’s end. Given that price is currently trading from both a major weekly supply zone at 1.1533-1.1278, and with the daily action seen...
Kicking off our analysis with a look at the weekly chart this morning shows very little direction in this market at the moment. To the upside, price is seen capped by supply drawn from 1307.4-1280.0, while to the downside demand at 1205.6-1181.2 continues to hold the yellow metal higher. As such, we recommend keeping an eyeball on both of these zones in the coming...
Following an early break above and retest of the psychological number 1.4300 in yesterday’s trading, Cable rocketed over 100 pips north. Price surpassed a H4 mid-level resistance at 1.4350 and ended the day jabbing into H4 supply coming in at 1.4426-1.4384.
Now, given that this H4 supply converges with not only a psychological resistance at 1.4400, but also...
Starting from the top this morning, we can see that the single currency formed a bearish engulfing candle last week within the confines of a weekly supply drawn from 1.1533-1.1278. Should this area hold prices lower for a sixth consecutive time, weekly support at 1.0796 will likely be the next target in the firing range. Lower down the scale, daily action recently...
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...
