The Pattern Pulse—11 April 2024
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- April 11, 2024
Your weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: US Dollar Index Eyeing Support Daily Timeframe – Having seen resistance breached at 104.15 this week, with sufficient oomph to trap breakout buyers and fill sellers’ protective stops, a retest of
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Finishes January Forming a Bearish Engulfing Candle Monthly Timeframe – From the monthly timeframe of the EUR/USD, we can see that the major pair continues to remain in a downtrend
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Dollar Index Rangebound Between Key Levels Daily Timeframe – From the daily timeframe of the US Dollar index (a geometric-average weighted value of the USD against six major currencies), buyers and
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/USD Testing Pattern Support Monthly Timeframe – Against the US dollar, the Australian dollar has, as of writing, snapped a two-month winning streak and is now on the doorstep of pattern
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Dollar Index Chalking up a Potential Pennant Formation Daily Timeframe – Since early October, price movement on the US Dollar Index (a geometric-average weighted value of the USD against six major
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Taking Aim at Higher Levels With the Dollar Index taking a hammering yesterday—fuelled on the back of a dovish Fed announcement—technical headwinds on both the monthly and daily timeframes are
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: USD/JPY Testing Support Confluence Daily Timeframe – The USD/JPY has been absolutely crushed in early trade today, down -1.5% as of writing. The recent downside has led the currency pair to
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: GBP/USD H1 Timeframe – The GBP/USD is one of those currency pairs that responds well to correctly placed trendlines. As you can see from the H1 chart below, short-term price action
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Dollar Index Daily Timeframe – The US Dollar Index—a geometric-weighted average value of the USD against six major currencies—recently confronted its 200-day simple moving average (SMA) at 103.62. Buyers and sellers
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: USD/JPY Testing Key Area of Confluence (Resistance) Monthly Timeframe – Momentum to the upside for the USD/JPY has noticeably slowed this year compared to 2022, visible not only from the price
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Long-Term Bearish Pennant Pattern Nearing Breaking Point on AUD/USD Monthly Timeframe – Albeit more of a longer-term structure, price action on the monthly timeframe of AUD/USD has been busy carving out
READ MOREYour weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD bearish Flag at Support Daily Timeframe – From the daily timeframe of EUR/USD, price action has been compressing between two parallel lines to form a potential bearish flag pattern ($1.0448
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