Friday 23rd November: Slew of European manufacturing data eyed in early London.

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EUR/USD: Up 0.14% on the day, the shared currency concluded the session stabilizing just north of 1.14. Unaffected by the latest publication of the ECB’s meeting minutes, trade was relatively thin as US banks closed in observance of Thanksgiving Day. Above 1.14, two nearby converging trend line resistances (taken from highs of 1.1550/1.1621) decorate the … Continue reading Friday 23rd November: Slew of European manufacturing data eyed in early London.

Thursday 22nd November: US banks closed in observance of Thanksgiving Day – expect thin markets.

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EUR/USD: (Outlook remains unchanged) Mid-way through Wednesday’s London session, the pair reclaimed 1.14+ status after modestly recovering from H4 support at 1.1372 amid Asia’s segment. US durable goods orders fell by 4.4% in October, significantly more than the expected 2.5% and the largest fall since October 2017. As a result of this, the euro immediately … Continue reading Thursday 22nd November: US banks closed in observance of Thanksgiving Day – expect thin markets.

Wednesday 21st November: Greenback eyeing a test of 97.00 as major peers grind south.

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EUR/USD: As risk aversion spreads from global stocks, the greenback stood triumphant against the bulk of its peers Tuesday. This – coupled with ongoing Italian-EU deficit divisions – directed the EUR/USD southbound, consequently losing grip of the 1.14 handle and mildly engulfing nearby H4 support found at 1.1372 (now acting resistance). For folks who read … Continue reading Wednesday 21st November: Greenback eyeing a test of 97.00 as major peers grind south.

Tuesday 20th November: Safe-haven currencies favoured as risk aversion dominates.

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EUR/USD: Monday witnessed the euro advance against its US counterpart, reaching highs not seen since Nov 7. The move higher was largely triggered by falling US Treasury bond yields, which pressured the US dollar index to explore ground beneath its 96.20 mark. As is evident from the H4 chart, the candles retested its 1.14 handle … Continue reading Tuesday 20th November: Safe-haven currencies favoured as risk aversion dominates.

Monday 19th November: Weekly technical outlook and review.

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EUR/USD: Weekly Gain/Loss: +0.85% Weekly Close: 1.1416 Weekly perspective: A stronger-than-expected rebound developed just north of demand at 1.1119-1.1212 last week, consequently breaking a four-week bearish phase. Continued buying from this point could eventually lift the unit towards trend line resistance (etched from the high 1.2476), trailed closely by a resistance area at 1.1717-1.1862. Daily … Continue reading Monday 19th November: Weekly technical outlook and review.