With the USDX seen plunging lower from H4 resistance at 96.50 yesterday, this, as can be seen from the chart, lifted the EUR pair above the 1.11 handle to highs of 1.1125 on the day. Despite this recent recovery, our team still favors further downside. Here’s why:
• Possible H4 three-drive formation is now seen in the works taken from the high 1.1233. In the...
Weekly gain/loss: -159 pips
Weekly closing price: 1.3063
Weekly open price: 1.3075
Weekly view: As can be seen from the weekly chart, the recently closed weekly candle chalked up a relatively strong-looking bearish engulfing formation, which has smothered two prior weekly candles! By and of itself, this could suggest that cable may plunge lower this week. As far...
Weekly gain/loss: - 84 pips
Weekly closing price: 1.1083
Weekly open price: 1.1076
Weekly view: From the weekly chart, we can see that the single currency rotated to the downside last week just ahead of a major weekly resistance area drawn from 1.1533-1.1278. Providing that sellers remain in the driving seat this week, the next downside target can be seen at...
Weekly gain/loss: + 141 pips
Weekly closing price: 0.7595
Weekly opening price: 0.7589
Weekly view: The past week saw the commodity-linked currency bounce from the top edge of a weekly support area at 0.7438-0.7315 back up to a weekly resistance line at 0.7604. Given this level’s history, our team favors a bounce to the downside this week.
Daily view: Thanks to...
Weekly gain/loss: + 212 pips
Weekly closing price: 1.1167
Weekly opening price: 1.1169
Weekly view: From this viewpoint, the EUR/USD appears to be heading back up to retest the weekly resistance area chalked in at 1.1533-1.1278. This zone has certainly stood the test of time, capping upside since May 2015. Therefore, do keep a close eye on this barrier as it will...
As London buyers entered the fray yesterday the Swissy pair rocketed over eighty pips north, reaching highs of 0.9927 on the day! This, as you can see, pushed price up to within striking distance of a H4 supply zone drawn at 0.9950-0.9934, which boasts a nice-looking H4 Quasimodo resistance line at 0.9937. What this recent drive north also did was push daily price...
From the top this morning, we can see that the weekly bulls are currently making an appearance just ahead of a weekly support area drawn from 0.7438-0.7315. From a technical standpoint, our team sees very little stopping the commodity-linked currency from retesting the weekly resistance line at 0.7604. Lower down the curve on the daily chart, the major closed back...
As can be seen from the H4 chart this morning, the EUR/USD managed to chalk up a close above the key figure 1.10 early on in yesterday’s sessions. However, once London opened their doors for business, price tagged a small H4 supply zone at 1.1040-1.1028 and rotated south, consequently closing back below 1.10. Given this recent action, today’s spotlight is still...
Mid-way through yesterday’s London session US stocks plummeted lower, consequently clocking a fresh low of 18452 on the day. To keep this analysis straightforward and easy to understand, here’s what our team has jotted down going into today’s sessions…
• Possible H4 three-drive approach forming en route to a H4 demand zone coming in at 18309-18356.
• The tails...
Weekly gain/loss: - 64 pips
Weekly closing price: 1.3108
Weekly opening price: 1.3144
Weekly view: In comparison to the last few weeks, the pair ranged a mediocre 250 pips last week, consequently forming what most candle enthusiasts would label an ‘inside candle formation’. Directly above current price, there’s a weekly resistance area at 1.3501-1.3804, while to...
Going into the early hours of yesterday morning the yellow metal aggressively tumbled lower, consequently breaking below the H4 pennant edge (1328.0) and eventually reaching lows of 1312.4 by the day’s end. This, as is shown on the H4 chart, took out H4 demand at 1312.6-1318.5 and came within touching distance of colliding with H4 support at 1310.3.
In light of...
Since weekly action whipsawed through the weekly resistance level at 0.7604 last week, this has sent the commodity-linked currency into something of a free-fall. However, with prices now seen trading within touching distance of a weekly support area coming in at 0.7438-0.7315, we may begin to see this pair shortly bottom out. From the daily chart, the Aussie is...
From the top this morning, we can see that weekly buyers are bidding this market higher into a weekly resistance area seen at 105.19-107.54. On the grounds that this zone holds firm this week, the next downside target area comes in at 103.22 – a long-term weekly support level.
Thanks to yesterday’s advance, the safe-haven pair is also now seen flirting with the...
Weekly gain/loss: - 19 pips
Weekly closing price: 1.1028
Weekly opening price: 1.1049
Weekly view: Although the single currency ranged around 150 pips during the course of last week, price remained relatively unchanged by the close. As far as structure is concerned, weekly movement continues to trade mid-range between a long-term weekly resistance area coming in...
Going into the early hours of yesterday’s sessions, the USD/JPY bottomed out around the 104 handle and rallied over 170 pips! This impressive round of buying, as you can see, began leveling off once price tagged the H4 resistance level at 105.71 amid European trading.
The bearish response from the aforementioned H4 resistance should not really come as much of a...
With the EUR/USD recently driving lower, it came as no surprise to see that the USD/CHF had rallied. The Swissy struck the 0.98 handle as London opened their doors for business yesterday, resulting in price taking out H4 resistance at 0.9862 (now acting support) and ending the day just ahead of a H4 supply base at 0.9920-0.9899.
Now, before we get into potential...
Starting from the top this morning, we can see that the commodity currency remains trading within touching distance of a weekly resistance line drawn from 0.7604. We believe a reaction from this vicinity is likely this week, so do keep a tab on this level. In conjunction with weekly price, the daily candles also show that the next objective to reach is the...
Weekly gain/loss: + 66 pips
Weekly closing price: 0.7562
Weekly opening price: 0.7561
Weekly view: A succession of bids flowed into the market last week, extending the prior week’s bounce from deep within weekly demand coming in at 0.7438-0.7315. Thanks to this recent surge in buying, the commodity-linked currency is now seen trading within touching distance of a...
