Monthly view: The trend direction on the monthly timeframe is clear. However, the past few months has seen momentum severely diminish as selling interest appears to be entering the market around monthly supply at 124.13-120.76.
Weekly view: For the past month or so, the buyers and sellers have been seen pulling for position within a weekly demand area coming in...
Monthly chart: From here, it looks as though the Euro has been in a slow-motion nose dive since 01/05/2014.Current action shows price has pierced a long-term monthly swap level at 1.0640, which as you can see, also boasts long-term trendline convergence (green line) from the low 0.8230 (02/10/2000).
Weekly chart: The weekly scale shows supportive pressure coming...
Monthly chart: From here, it looks as though the Euro has been in a slow-motion nose dive since 01/05/2014.Current action shows price has pierced a long-term monthly swap level at 1.0640, which as you can see, also boasts long-term trendline convergence (green line) from the low 0.8230 (02/10/2000).
Weekly chart: The weekly scale shows supportive pressure coming...
Weekly timeframe perspective: The technical studies from the weekly scale show that buying interest came in from just above weekly demand at 1.0333-1.0502 last week, which, if you scale out far enough, you’ll be able to see that this area also boasts long-term trendline convergence from the low 0.8230 (year 2000). However, with the weekly trend still firmly...
Weekly timeframe perspective: Like the Euro, the GBP was also very active last week. A 280-pip move south was seen from just below a recently broken weekly Quasimodo support (now resistance) line coming in at 1.5007, consequently engulfing the prior week’s candle and forcing Cable to close at 1.4630. As per the weekly timeframe, we believe further selling may be...
Weekly timeframe perspective: The Euro was incredibly active last week. A considerable 400-pip move south was seen from just below a major weekly swap level coming in at 1.1096, consequently engulfing the prior week’s candle and forcing the Euro to close at 1.0598. In the event that we see further selling this week, its likely prices will once again cross swords...
Weekly timeframe perspective: Along with the overall trend still firmly pointing north, buying pressure is being seen from deep within a small weekly decision-point demand area at 118.22-119.40. In the event that the buyers can continue with this tempo, it’s likely we’ll eventually see prices challenge the weekly Quasimodo resistance level seen at 122.18.
Daily...
Weekly timeframe perspective: The weekly timeframe shows that not only is the GBP in a freakishly steep downtrend at the moment, but price is also seen selling off from just below a recently broken weekly Quasimodo support (now resistance) line coming in at 1.5007. Therefore, for anyone considering buying this pair medium/long-term may want to consider the above...
Weekly timeframe perspective: The weekly timeframe shows that active selling is being seen from just below a major weekly swap level coming in at 1.1096. This, coupled with the fact the Euro is in a stonking great downtrend at the moment does not look good for anyone currently long this market.
Daily timeframe perspective: A decision has clearly been made on the...
Weekly timeframe perspective: Along with the overall trend still firmly pointing north, buying pressure is being seen from deep within a small weekly decision-point demand area at 118.22-119.40. In the event that the buyers can continue with this tempo, it’s likely we’ll eventually see prices challenge the weekly Quasimodo resistance level seen at 122.18.
Daily...
Weekly timeframe perspective: From the weekly timeframe, we can see that price has just recently pierced the top of a small weekly decision-point supply area at 1223.1-1202.6. This move has likely cleared the path north for further upside towards a weekly swap level coming in at 1251.0.
Daily timeframe perspective: It should come as no surprise when we tell you...
Weekly timeframe perspective: The weekly timeframe shows that the market ended the week closing around the underside of a small weekly decision-point supply area (1223.1-1202.6) at 1202.7. Could this possibly mean that the sellers have been weakened here? Let’s take a look on the lower timeframes to see what we can find…
Daily timeframe perspective: From this...
Weekly timeframe perspective: The USD/JPY pair ended the week closing (118.91) deep within a small weekly decision-point demand area at 118.22-119.40, consequently forming a bearish pin bar candle in the process. In the event that price breaks below this area this week, we may see price attack the low 116.86, or even the major weekly swap level seen just below it...
Weekly timeframe perspective: The Euro pair may well have ended the week closing positively at 1.0966, but let’s not forget that price has been and still is trading only a stone’s throw away from a major weekly swap (resistance) level coming in at 1.1096. In the event that price manages to get above this barrier this week, further upside will likely be seen...
Weekly timeframe perspective: The upward momentum from the weekly demand area at 1.0333-1.0502 seems to be crumbling, as active sellers appear to be entering the market just below a major weekly swap level coming in at 1.1096.
Daily timeframe perspective: From the daily timeframe, we can see that the sellers have so far managed to maintain a position below the...
Weekly timeframe perspective: The situation on the weekly chart shows that price was driven deep into a small weekly decision-point supply area coming in at 1223.1-1202.6 last week. This move has clearly attracted sellers into the market.
Daily timeframe perspective: Yesterday’s daily session saw the Gold market sell off, which as a result, forced price to...
Weekly timeframe perspective: From the weekly timeframe, we can clearly see that active buyers have entered the market from within a small weekly decision-point demand area coming in at 118.22-119.40.
Daily timeframe perspective: The rebound seen from the minor daily support level at 118.32 on Thursday last week, extended higher yesterday. As long as the buyers...
Weekly timeframe perspective: From this angle, the upward momentum from weekly demand at 1.0333-1.0502 seems to be crumbling, as weekly rejection wicks are being seen forty or so pips from below a major weekly swap (resistance) level at 1.1096, which could encourage further downside in the market. Let’s see what we can find on the lower timeframes…
Daily...
