The Pattern Pulse—14 March 2024
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- March 14, 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: EUR/USD Buyers Resilient Monthly Timeframe – Price action on the monthly chart of the EUR/USD offers an interesting technical landscape to work with. You will acknowledge that support from $1.0519 has
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 on the Ropes Daily Timeframe – Following the break of channel support (extended from the low of 100.62) and subsequent push through the 200-day and 50-day simple moving averages (SMA)
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/NZD Offers Potentially Weak at Resistance Daily Timeframe – Following Aussie CPI data and the RBNZ holding the Official Cash Rate unchanged, the AUD/NZD cross has been well bid from support
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: Bad News for USD Longs? Daily Timeframe – According to the US Dollar Index, dollar longs are under pressure. Despite technically exhibiting an uptrend, there are signs of technical weakness emerging.
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: Sterling Under Pressure at Range Lows As evidenced in the monthly and daily charts, a bearish picture remains for sterling against the US dollar. GBP/USD recently denied $1.2715 resistance on the
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
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