Thursday 19th November: Technical Outlook and Review
Overall, it was a somewhat muted session Wednesday, ranging between 1.1891/1.1850, despite the DXY elbowing in the direction of daily Quasimodo support coming in at 92.15.
Monday 16th November: Weekly Technical Outlook and Review
EUR/USD, as evident from the chart, held on to the 1.18 handle Friday as the DXY failed to grip 93.00. Moderately rebounding from 1.18 in the form of support, the pair finished the week pouncing on local highs around the 1.1833ish area. Clearance of 1.1833 early this week shines the spotlight on the 1.19 handle, followed by a possible assault on September’s opening value from 1.1937.
Friday 13th November: Technical Outlook and Review
Key risk events today: US Core PPI m/m and PPI m/m; […]
Thursday 12th November: Technical Outlook and Review
Key risk events today: UK Prelim GDP q/q; BoE Gov. Bailey […]
Wednesday 11th November: Technical Outlook and Review
Key risk events today: Limited. (Previous analysis as well as outside […]
Tuesday 10th November: Technical Outlook and Review
Key risk events today: Limited. (Previous analysis as well as outside […]
Monday 9th November: Weekly Technical Outlook and Review
In a similar manner to EUR/USD, the British pound outperformed against the buck last week, adding 200 pips and producing a solid bullish engulfing candle. The 2020 yearly opening value at 1.3250 is seen as the next port of call to the upside, with a break exposing the 2018 yearly opening value at 1.3503.
Friday 6th November: Technical Outlook and Review
EUR/USD rotated lower a touch south of two-week tops Thursday, following another wave of upside, bolstered by USD depreciation amidst healthy risk appetite. Technical selling surfaced off Quasimodo resistance on the H4 timeframe at 1.1860, motivating a correction back to the 1.18 neighbourhood, which, as you can see, holds as support for the time being.
Thursday 5th November: Technical Outlook and Review
Wednesday exhibited choppy behaviour, with traders clearly undecided right now as ballot counting continues in the US. DXY ended modestly positive around 93.50. Following an aggressive push to the 1.16 neighbourhood, EUR/USD staged an equally aggressive pullback to above the 1.17 handle, currently trading unchanged on the day.
