• Weekly Technical Market Insight: Week Ending 8th July 2022

    Weekly Technical Market Insight: Week Ending 8th July 2022

    • July 2, 2022

    Charts: Trading View (Italics: Previous Analysis) US Dollar Index: Against a basket of six international currencies, the US dollar settled the week in positive territory and added 1.0 per cent. In keeping with the daily scale, more topside is likely to come with the possibility of refreshing near-two-decade peaks and reaching for Quasimodo resistance at

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  • Technical View for July 1st 2022: USD/JPY Displaying Signs of Slowing Momentum; ¥135 Eyed

    Technical View for July 1st 2022: USD/JPY Displaying Signs of Slowing Momentum; ¥135 Eyed

    • June 30, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: Risk aversion gripped financial markets on Thursday; European and US equity benchmarks explored lower territory, and safe-haven currencies—the Swiss franc and Japanese yen—welcomed a bid. EUR/USD finished the session off worst levels, yet concluded the month decisively in bearish terrain (> 2.0 percent). Following a whipsaw beneath the

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  • Technical View for June 30th 2022: EUR/USD Echoing Weakness as Dollar Index Extends Gains

    Technical View for June 30th 2022: EUR/USD Echoing Weakness as Dollar Index Extends Gains

    • June 29, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: Europe’s shared currency was on the ropes against its US counterpart on Wednesday, cementing a second session in the red. The US Dollar Index pencilled in another consecutive advance against major peers, eyeing 105.79, 15th June top. For those who read Wednesday’s technical briefing, you may recall I

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  • Technical View for June 29th 2022

    Technical View for June 29th 2022

    • June 28, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: Sellers strengthened their grip on Tuesday; EUR/USD dipped to a low of $1.0503 and erased 0.5 per cent on the session. US consumer confidence fell for a second consecutive month in June to 98.7, its lowest levels since early 2021. The aftermath saw major US equity indices slide,

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  • Technical View for June 28th 2022: USD Remains Soft Ahead of US Consumer Confidence

    Technical View for June 28th 2022: USD Remains Soft Ahead of US Consumer Confidence

    • June 27, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: Monday welcomed reasonably upbeat data out of the US; durable goods orders increased 0.7 per cent, versus the market consensus of 0.1 per cent. The US dollar immediately witnessed a bid against its major peers (US Dollar Index), though the move was short-lived and topped around 104.21 to

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  • Weekly Technical Market Insight: Week Ending 1st July 2022

    Weekly Technical Market Insight: Week Ending 1st July 2022

    • June 25, 2022

    Charts: Trading View (Italics: Previous Analysis) US Dollar Index (Daily Timeframe): Successfully snapping a three-week bullish phase, sellers stepped in last week and pulled the US Dollar Index 0.5 per cent lower. As central bankers around the world attempt to curb escalating inflation—increasing rates in chorus with the US Federal Reserve—the greenback may struggle against

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  • Technical View for June 23rd 2022: PMIs Eyed as EUR/USD Rebounds from Support

    Technical View for June 23rd 2022: PMIs Eyed as EUR/USD Rebounds from Support

    • June 22, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: US Federal Reserve Chair Jerome Powell was in the spotlight on Wednesday, testifying on the Semi-Annual Monetary Policy Report before the Senate Banking Committee. Powell reaffirmed his commitment to tame inflation pressures, and also acknowledged the risk of recession, though had little to say on the future of

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  • Technical View for June 22nd 2022: GBP/USD Indecisive Ahead of Inflation Data

    Technical View for June 22nd 2022: GBP/USD Indecisive Ahead of Inflation Data

    • June 21, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: Major US equity indexes witnessed an enthusiastic open, following Monday’s closure in observance of Juneteenth National Independence Day. This weighed on safe-haven assets, including the US dollar, which underpinned a EUR/USD bid. In terms of economic data for the greenback, US existing home sales took the spotlight in

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  • Technical View for June 21st 2022: $1.05 Echoing Potential Weakness on EUR/USD; $1.04 Eyed

    Technical View for June 21st 2022: $1.05 Echoing Potential Weakness on EUR/USD; $1.04 Eyed

    • June 20, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: As US banks remain closed in observance of Juneteenth National Independence Day, Europe’s shared currency welcomed a modest bid against its US counterpart on Monday. European Central Bank President Christine Lagarde, however, was on the microphone restating that the European Central Bank (ECB) intends to increase rates by

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  • Weekly Technical Market Insight: Week Ending 24th June 2022

    Weekly Technical Market Insight: Week Ending 24th June 2022

    • June 18, 2022

    Charts: Trading View (Italics: Previous Analysis) US Dollar Index (Daily Timeframe): The US dollar—measured by the US Dollar Index—extended recovery gains last week, adding 0.4 per cent and touching a high of 105.79, values not visited since 2002. Consequently, the decision point from 105.61-104.87 came under attack and had its upper boundary probed as a

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  • Technical View for June 17th 2022: EUR, AUD, and GBP Pairs Welcome Bullish Tone as USD Softens

    Technical View for June 17th 2022: EUR, AUD, and GBP Pairs Welcome Bullish Tone as USD Softens

    • June 16, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: European and U.S. equity indexes fell sharply on Thursday as central banks around the world hike rates in attempt to combat rising inflation. Less-than-stellar U.S. economic data and hawkish ECB commentary underpinned the EUR/USD in recent trading, rallying 1.2 per cent. From a technical perspective, although the currency

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  • Technical View Ahead of FOMC for June 15th 2022

    Technical View Ahead of FOMC for June 15th 2022

    • June 14, 2022

    Charts: Trading View (Italics: Previous Analysis) EUR/USD: Primary Trend: bearish since early 2021 Tuesday witnessed Europe’s shared currency finish off best levels against its U.S. counterpart, following three back-to-back daily bearish candles. As the U.S. Dollar Index refreshes multi-decade pinnacles, the longer-term outlook on EUR/USD remains unchanged: In conjunction with a clear primary bear trend,

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