- Tuesday, 17 July 2018
- Daily Technical Analysis
GBP/USD Daily Forecast - 17 July
The 1.33 level above is massive resistance, and I think if we can break above that level we will continue to go higher, perhaps reaching towards 1.3350 level above, where we had seen a significant amount of selling pressure. I think that we have gotten far too ahead of ourselves, and it’s likely that we will turn around to go looking towards the 1.32 region. I think that the market is offering a nice short-term selling opportunity, followed by perhaps more buying pressure but that remains to be seen. Right now though, it’s clear to see that we are overextended, and that should be taken advantage of as we see so much in the way of resistance at higher levels. Read more...
- Tuesday, 17 July 2018
- Daily Technical Analysis
AUD/USD Daily Forecast - 17 July
The Australian dollar has rallied a bit during the day on Monday, showing signs of life again, but quite frankly I think there is a lot of resistance above. This is seen at the gap near the 0.7450 level, where I would expect to see a lot of sellers come in. Longer-term, we have several hammers on the weekly chart, so that of course shows a certain amount of support below, especially near the 0.7350 level. In general, this is a market that I think will continue to move on to risk appetite in trade war fears with Asia and particular focus.
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- Monday, 09 July 2018
- Daily Technical Analysis
EUR/USD Daily Forecast - 10 July
EUR/USD gave up the pre-North America games falling below the 21-hr SMA at 1.760, where previously, EUR/USD has made a London session high of 1.1790. The single unit has scored a session low of 1.1740. From a technical perspective, EUR/USD set a new short-term high after piercing the 76.4 Fib of 1.1853-1.1508 and the 55-D SMA. However, the pair has been faded at the highs is has moved to a flat position for the day within the wider 1.1500-1.1850/60 range.
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- Monday, 09 July 2018
- Daily Technical Analysis
GBP/USD Daily Forecast - 10 July
The GBP/USD pair fluctuated wildly on Monday as investors continued to react to political developments in the U.K. After advancing to its highest level since June 14 at 1.3360, the pair came under a heavy selling pressure after British PM Theresa May's office confirmed the resignation of Foreign Secretary Boris Johnson. Following a sharp drop to 1.3188, the pair retraced a portion of its daily losses and was last seen trading at 1.3255, where it was down 0.25% on the day.
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