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A brief recap of Friday’s segment on the H4 timeframe witnessed thin trading volume amid Good Friday. Following a mild bottom a few points north of April’s opening level at 1.1221, the EUR/USD spent the remainder of the day fluctuating within a tight range just below 1.1250.

EUR/USD: The single currency ceded ground to the dollar Thursday, following sour IHS Markit PMI surveys. After a brief stopover at the underside of 1.13 on the H4 timeframe the EUR/USD fell sharply, conquering neighbouring trend line support (extended from the low 1.1183) and eventually dipping beneath the 1.1250 support.  Further weighing on the euro … Continue reading Friday 19th April: Thin trading volume likely ahead as banks close in observance of Good Friday and Easter Monday.

EUR/USD: Trading volume remained thin Wednesday as markets begin edging their way into the Easter holiday. As demonstrated on the H4 timeframe, price continues to range, limited by 1.1323/1.1280 (yellow). It might also be worth pencilling in the 1.13 handle housed within the consolidation and the surrounding channel (ascending) formation (1.1183/1.1254). In addition to this, … Continue reading Thursday 18th April: Euro consolidates around 1.13 ahead of today’s Eurozone PMIs

EUR/USD: The single currency soured in the face of a healthy dollar Tuesday, consequently reclaiming 1.13 to the downside on the H4 timeframe. According to our technical studies, the move potentially sets the stage for a run towards channel support (extended from the low 1.1183), followed by 1.1250 support. Assisting sellers is channel resistance (taken … Continue reading Wednesday 17th April: Focus shifts to UK inflation in early London – remain vigilant