Bears In the Driving Seat for Tesla (TSLA)
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- April 18, 2024
Release: Friday at 13.30pm GMT As we head into the close of an undeniably tumultuous 2020, Friday gifts traders with November’s US non-farm payrolls report. The COVID-19 pandemic continues to influence the world and the financial markets, recently reporting an eye-popping 64 million global cases, according to Johns Hopkins University, a US private research institute
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, and subsequent break of supply from 1.1857/1.1352 in August, buyers made an entrance in November, up by 2.4 percent. With December trading higher by a healthy
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, and subsequent break of supply from 1.1857/1.1352 in August, buyers made an entrance in November, up by 2.5 percent. With December trading higher by 1.3 percent,
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, and subsequent break of supply from 1.1857/1.1352 in August, buyers made an entrance in November, up by 2.5 percent. Though this argues additional upside may be
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREUS Dollar Index: Shedding more than 0.6 percent, the US dollar, as measured by the US dollar index (DXY), unsurprisingly carved out a second successive losing week and renewed monthly lows. Feeble attempts at recovery off daily support from 92.26 throughout November demonstrated a lack of co-operation from buyers, ultimately allowing sellers to dethrone support
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, buyers and sellers have since gone toe-to-toe around the upper section of supply from 1.1857/1.1352. Though this argues additional upside may be on the horizon, targeting
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, buyers and sellers have since gone toe-to-toe around the upper section of supply from 1.1857/1.1352. Though this argues additional upside may be on the horizon, targeting
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, buyers and sellers have since gone toe-to-toe around the upper section of supply from 1.1857/1.1352. Though this argues additional upside may be on the horizon, targeting
READ MOREEUR/USD: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Following the break of long-term trendline resistance (1.6038) in July, buyers and sellers have since gone toe-to-toe around the upper section of supply from 1.1857/1.1352. Though this argues additional upside may be on the horizon, targeting
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREUS Dollar Index: Buyers and sellers, as you can see, spent the best part of the week squaring off around daily support at 92.26, an active level since May 2018. The feeble recovery off this level earlier in the month, braced by daily channel support (0.9247), signals a lack of commitment from buyers. Although suggesting
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