Price action, based on the weekly chart, remains linked with its 2016 yearly opening level at 1.0873. Skies above are reasonably blue; a run to the 2020 yearly opening level at 1.1222, shadowed by a Quasimodo resistance at 1.1239 is not out of the question.
Key risk events today: China GDP y/y; China Fixed Asset Investment ytd/y; China Industrial Production y/y. (Previous analysis as well as outside sources – italics). EUR/USD: Painful US data by way of unemployment claims (albeit outdid consensus) and another worrying regional Fed survey did little to hamper dollar gains Thursday. The US dollar index powered … Continue reading Friday 17th April: Technical Outlook and Review.
Key risk events today: Australia Job’s Data; BoE Credit Conditions Survey; Canada Manufacturing Sales m/m; US Unemployment Claims; US Building Permits; Philly Fed Manufacturing Index. (Previous analysis as well as outside sources – italics). EUR/USD: Wednesday had the US dollar index recover in strong fashion, albeit off best levels south of 100.00. As of writing, … Continue reading Thursday 16th April: All Eyes on US Unemployment Claims
Key risk events today: US Core Retail Sales m/m and Retail Sales m/m; BoC Monetary Policy Report, Rate Statement, Overnight Rate and Press Conference. (Previous analysis as well as outside sources – italics). EUR/USD: After knocking on 1.09’s door Monday by way of a H4 hammer candlestick pattern, EUR/USD bulls entered an offensive phase Tuesday, … Continue reading Wednesday 15th April: Technical Outlook and Review.
Key risk events today: Australia NAB Business Confidence; China Trade Balance; G7 Meetings. (Previous analysis as well as outside sources – italics). EUR/USD: Monday’s holiday-thinned trade witnessed Europe’s single currency conclude a shade lower against the buck, with price drawing in the 1.09 handle on the H4 timeframe and forming a hammer candlestick pattern (considered … Continue reading Tuesday 14th April: DXY Holds Daily Resistance at 99.62; Daily Support Eyed at 98.45
