Bears In the Driving Seat for Tesla (TSLA)
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- April 18, 2024
XJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MORECharts: Trading View (Italics: Previous Analysis) US Dollar Index (Daily Timeframe): Against a basket of six foreign currencies, including Europe’s single currency, the US Dollar Index (USDX) climbed 1.3 percent last week. Extending its rally to a seventh daily session, this cleared the path to refresh year-to-date tops and shake hands with 100.00. This psychological
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: Global equities finished Thursday lower, following the latest FOMC meeting minutes. The US Dollar Index (USDX) modestly extended gains (up 1.2 percent WTD) as US Treasury yields—particularly across longer-dated maturities—refreshed WTD pinnacles. Against the US dollar, Europe’s single currency delivered a somewhat feeble spirit in recent days, with
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: Long-term technical flow derived from the weekly timeframe reveals a bearish setting has emerged this week, following last week’s test of resistance at $1.1147. Weekly channel support, extended from the low $1.1186, as well as weekly Quasimodo support at $1.0778, remain downside objectives on this timeframe. The bearish
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: US Treasury yields soared on Tuesday, underpinning a USD bid and consequently weighing on EUR/USD for a fourth consecutive session. As underlined in recent analysis, additional downside is consistent with the higher timeframe technical picture. For those who read Tuesday’s technical briefing you may recall the following points
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: Demand for EUR/USD waned once again on Monday, unearthing a third losing session for the currency pair. Technically speaking, it should not surprise that sellers have taken the wheel and may continue to demand control over the coming sessions. In terms of trend and structure, recent analysis on
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: Europe’s single currency finished the week off best levels against its US counterpart, erasing a sizeable portion of earlier upside. Trend on the bigger picture continues to echo a downside bias, reflecting bearish status since topping at $1.2350 at the beginning of January (2021). This is reinforced by
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: Against a basket of six international currencies, the US Dollar Index (USDX) extended its retracement slide Wednesday (down approximately 1 percent WTD). Unsurprisingly, EUR/USD capitalised on USD softness, adding 0.7 percent at the close of European trading. The technical story is interesting. Trend on the bigger picture (weekly
READ MORECharts: Trading View (Italics: Previous Analysis) EUR/USD: Equities were bid on Tuesday, with major benchmark indexes closing higher across the board. Optimism stemmed from positive talks between the Ukraine and Russia, which also led the US dollar southbound (USDX) as well as oil markets exploring lower levels. In terms of currencies, Europe’s shared currency outperformed
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MORECharts: Trading View (Italics: Previous Analysis) US Dollar Index (Daily Timeframe): Dollar bulls, according to the US Dollar Index (USDX), regained consciousness last week, adding 0.6 percent and reclaiming a large slice of the prior week’s near-1 percent drop. Since 7th March, buyers and sellers have been squaring off within the limits of a descending
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