EUR/USD Technical View: The technical outlook for the EUR/USD is optimistic on the weekly chart, finding some comfort north of support at $1.0888. Technically speaking, the currency pair is in the early phase of an uptrend on the weekly after pencilling in a higher high at $1.1076 last week, which opens the gate for a…
Read more
On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands last Tuesday and has since corrected to the downside. The Bollinger bands are contracting at the time of this report but volatility could pick up later in the week around publication hours of the…
Read more
On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands last Thursday “forcing” it to correct around the $1.07600 area which is trading at the time of this report. The Bollinger bands are expanding indicating volatility build up which is expected to peak for…
Read more
On the technical side the price on the fiber chart has found support on the 23.6% of the daily Fibonacci retracement level without being able to make a valid break below it for the time being. With the Stochastic oscillator near the extreme oversold level and the 50 day simple moving average trading above the…
Read more
The chart itself definitely suggests that the euro has reached a plateau and might decline in the near future. Momentum to the upside has been low since the middle of January and the price has hovered in overbought for weeks while volume and ATR have both dropped significantly. Based on TA alone, one might expect…
Read more
In short, the bank’s analysts believe that there is a possible path to a soft landing, but that this will be dependent on the Fed being able to tweak policy “just right” in order to stay on track. Even Larry Summers, who has previously stated that a recession was inevitable, has recently softened his own…
Read more
From the technical analysis perspective the price is currently trading around the $1.04800 price area above the 23.6% of the fibonacci retracement level. The US NFP release is expected to affect the fiber chart with the market expecting a decreased , yet positive, figure. This publication will most probably create volatility and might possibly give…
Read more
From the technical analysis perspective the price is currently trading around the 0.99900 price area just above the 61.8% of the fibonacci retracement level. The US inflation rate is expected to affect the fiber chart with the market expecting a decrease on the figure (8%). This publication will possibly create volatility and might give the…
Read more
With no signs of reversal or corrections the most plausible scenario would be a continuation of the current trend at least in the short term. This is always dependent on the economic news related to the US Dollar which there is a lot coming this week. We can easily notice areas of possible resistance on…
Read more
From the technical analysis perspective the price is currently trading around the 0.98 price area which is a very strong point of resistance since it consists of the 50% of the fibonacci retracement level, the daily trendline and the 50 day moving average. Given that the Stochastic indicator is also signaling an overbought level and…
Read more