Wednesday 26th February: Technical Outlook and Review.

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The US dollar index, measures the value of the US dollar against a basket of foreign currencies, remained on the backfoot Tuesday, aided by less-than-stellar US consumer confidence, with the unit poised to continue declining until reaching daily support at 98.45.

Monday 24th February: Weekly Technical Outlook and Review.

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After toppling the 2016 yearly opening level at 1.0873, channel support, taken from the low 1.1109, welcomed a test last week and held price higher. Producing a hammer candlestick formation (a bullish signal at troughs), the unit now faces 1.0873 as potential resistance this week.

Friday 21st February: Technical Outlook and Review.

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Key risk events today: Eurozone Flash Manufacturing/Services PMIs; UK Flash Manufacturing PMI and Flash Services PMI; Canada Core Retail Sales m/m and Retail Sales m/m; US Flash Manufacturing PMI. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD concluded Thursday pretty much unchanged, but did manage to chalk up a bearish outside formation … Continue reading Friday 21st February: Technical Outlook and Review.