Weekly gain/loss: + 68 pips
Weekly closing price: 1.0658
Weekly opening price: 1.0665
Weekly view: After coming within an inch of tagging the top edge of a support area seen at 1.0333-1.0502 two weeks back, last week’s flow extended to highs of 1.0689. Provided that the bulls continue to bid prices higher this week, the next upside target to have an eyeball on is...
Diving straight into the (technical) action this morning, we can see that price finally conquered the 1.25 handle by yesterday’s close, which had capped downside since mid-Nov. With that being said, the team’s focus is now on the H4 resistance area planted just above at 1.2525-1.2557. The area boasts a H4 61.8% Fib resistance at 1.2531, a H4 mid-way resistance at...
As can be seen from the H4 chart, the pair was recently met by strong selling pressure from supply at 1.0185-1.0161 for the second time, closing the day just ahead of the 1.01 handle. Now, buying from 1.01 and its partner H4 support seen just below it at 1.0076 is feasible according to the daily chart, as there’s support lodged in between the two H4 barriers at...
Weekly gain/loss: + 107 pips
Weekly closing price: 0.7438
Weekly view: After slightly breaching the lower edge of the support area at 0.7438-0.7315, and leaving the 2016 yearly opening level at 0.7282 unchallenged, the Aussie rallied higher last week. Erasing around 50% of the prior week’s losses, the pair looks, at least from the weekly chart, to be on course to...
Weekly gain/loss: + 7 pips
Weekly closing price: 1.0590
Weekly view: Price action took on more of a subdued tone last week, consequently chalking up an indecision candle by the close. Despite this, the shared currency did, however, come within a whisker of connecting with a major support area coming in at 1.0333-1.0502. The next upside objective from this angle...
In a similar fashion to the EUR/USD, the GBP/USD also ended yesterday relatively unchanged. Nevertheless, cable’s H4 action remains a keen focal point for our desk. The resistance zone drawn from 1.2525-1.2557 is especially striking. The area boasts a H4 61.8% Fib resistance at 1.2531, a H4 mid-way resistance at 1.2550, a potential H4 three-drive approach (waves...
The EUR managed to find momentary support around the 1.06 handle in the early hours of London yesterday on the back of stronger-than-expected Eurozone PMI data. Price managed to clock a high of 1.0636 from here, before turning bearish. Bolstered by strong US Durable goods data, the EUR closed below 1.06 and found support around the H4 mid-way point 1.0550 going...
As London sellers entered the fray yesterday, sterling took a nose dive from the underside of the 1.25 handle. This, as you can see, saw the H4 candles probe a support area at 1.24-1.2377 that displays confluence from the 1.24 hurdle, and a H4 trendline support carved from the high 1.2329. The day concluded with price chalking up a strong-looking H4 buying tail,...
Weekly gain/loss: + 426 pips
Weekly closing price: 110.85
Weekly view: The US dollar continued to soar last week following the prior week’s engulfing candle, pressuring the unit to chomp through offers at a resistance area drawn from 105.19-107.54 (now acting support), with price ending the session colliding with supply coming in at 111.44-110.10. Upbeat US data,...
Weekly gain/loss: - 208 pips
Weekly closing price: 0.7331
Weekly view: Recent weekly action shows that the AUD/USD extended its downward decline from supply at 0.7849-0.7752, resulting in price violating a channel support line extended from the low 0.6827 and diving deep into the jaws of a support area coming in at 0.7438-0.7315. As much as this area stretches...
Weekly gain/loss: - 270 pips
Weekly closing price: 1.0583
Weekly view: The shared currency sustained further losses last week, consequently breaking through the yearly opening level at 1.0873, a support at 1.0819 as well as a trendline support extended from the low 0.8231. The next downside target from this point comes in at 1.0333-1.0502: a support area that...
During the course of yesterday’s sessions, we saw the Swissy reclaim parity (1.0000) for a second time and advance north, following upbeat US housing data and Jobless claims as well as comments made by Fed Chair Janet Yellen regarding the possibility of an interest-rate hike.
As of current price, the pair is seen touching gloves with the 1.01 handle, which...
Shortly after Yellen’s testimony in Congress yesterday, the USD/JPY continued on its upwardly path, taking out H4 supply at 109.70-109.45 and closing the day marginally above the 110.00 handle. While yesterday’s close is considered a bullish cue, we still have to take in account what’s occurring over in the bigger picture. Weekly price recently crossed swords with...
Weighed on heavily by a poor Australian employment print, the pair, after ever so slightly bouncing from the H4 Quasimodo support at 0.7451 (a level our desk highlighted as somewhere price would likely react from), fell sharply and ended the day shaking hands with the 0.74 handle.
Recent losses also saw the unit nudge below the daily support area at 0.7517-0.7451...
In the early hours of yesterday’s London segment, the EUR resumed its decline against its US counterpart, eventually closing below 1.07 and testing the 1.0646-1.0689 area, a small hidden H4 demand (seen clearer on the H1). As we write, we can see that price is retesting the underside of 1.07. Should the bulls succeed in breaking through this barrier, the H4 supply...
Thanks to a healthy round of buying over in the oil market yesterday, the USD/CAD fell sharply, largely ignoring the better than expected US retail sales reading, and ending the day just ahead of November’s opening level at 1.3419. November’s opening level is interesting. Not only is the number bolstered by a H4 50.0% Fib support at 1.3425, but it is also...
Across the board, we saw the US dollar extend higher yesterday, consequently pressuring the shared currency to fresh lows of 1.0709 on the day. What this move also accomplished was a clean break through weekly support at 1.0819, which, as you can see from the chart, has now positioned the weekly candle around a trendline support drawn from the low 0.8231. In...
Weekly gain/loss: + 957 points
Weekly closing price: 18841
Weekly opening price: 18841
Weekly view: During the course of last week’s session, US equities tapped the yearly opening level at 17554 and ended the week closing over 950 points in the green! Impacted largely by Trump’s presidential win over Clinton, the index closed the week out above a trendline...
