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Technical Analysis

Technical Analysis
Wednesday 22nd May: Dollar exploring ground above 98.00 ahead of today’s FOMC.

The market witnessed sterling spike higher on speculation UK PM May was to offer major concessions on Brexit in an effort to push a deal through Parliament.

By IC Markets

Technical Analysis
Tuesday 21st May: Dollar teases underside of 98.00 ahead of Fed speak.

The Australian dollar found broad support vs. the majority of its major rivals at the beginning of the week, a reaction to local elections: a surprise win for the Liberal-National coalition.

By IC Markets

Technical Analysis
Monday 20th May: Weekly technical outlook and review.

US dollar index picked up steam, this sent the EUR/USD to a session low of 1.1155 into the week’s close. With limited support/demand visible to the left of current price until reaching Quasimodo support at 1.1130

By IC Markets

Technical Analysis
Thursday 16th May: Weak US retail sales spells trouble for greenback; seen languishing beneath dollar index resistance

The US dollar, according to the US dollar index, largely disregarded the weaker-than-expected April retail sales report Wednesday, though eventually yielded to selling pressure on news US President Trump would delay tariffs on EU automobiles.

By IC Markets

Technical Analysis
Wednesday 15th May: Busy economic calendar ahead – remain vigilant and expect volatility.

With Brexit talks between the Conservatives and Labour gridlocked, as well as easing concerns over US/China trade dispute and a mixed employment report out of the UK, the British pound remained on the defensive.

By IC Markets

Technical Analysis
Tuesday 14th May: Trade tensions rattle markets and propel safe-haven markets into the spotlight.

China broadcasted its decision to hike tariffs on $60 billion worth of American imports despite US President Trump's warnings, consequently escalating trade tension and weighing on the market sentiment.

By IC Markets

Technical Analysis
Monday 13th May: Weekly technical outlook and review

The Australian dollar weakened further against the US dollar over the course of last week, extending losses beneath the 2019 yearly opening level at 0.7042.

By IC Markets

Technical Analysis
Friday 10th May: Trade and geopolitics continues to dictate currencies.

Heading into the later phase of Thursday’s segment the market observed a modest recovery take shape, bolstered on the back of commentary from US President Trump stating it was still possible for the US and China to reach a deal this week.

By IC Markets

Technical Analysis
Thursday 9th May: Dollar steady ahead of Fed Chair Powell speech and PPI figures.

The DXY, or US dollar index, retained its bid tone yesterday, though remains struggling to overthrow a weekly resistance positioned at 97.72.

By IC Markets