After toppling the 2016 yearly opening level at 1.0873, channel support, taken from the low 1.1109, welcomed a test last week and held price higher. Producing a hammer candlestick formation (a bullish signal at troughs), the unit now faces 1.0873 as potential resistance this week.
Global Markets: Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite up 0.33%, Hang Seng down 0.99%, ASX down 0.33% Commodities : Gold at $1634.15 (+0.84%), Silver at $18.50 (+1.00%), Brent Oil at $58.71 (-1.01%), WTI Oil at $53.41 (-0.87%) Rates : US 10-year yield at 1.493, UK 10-year yield at 0.577, Germany 10-year yield … Continue reading Friday 21st February: Asian markets lower on concerns of virus effect on economy
Key risk events today: Eurozone Flash Manufacturing/Services PMIs; UK Flash Manufacturing PMI and Flash Services PMI; Canada Core Retail Sales m/m and Retail Sales m/m; US Flash Manufacturing PMI. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD concluded Thursday pretty much unchanged, but did manage to chalk up a bearish outside formation … Continue reading Friday 21st February: Technical Outlook and Review.
Global Markets: Asian Stock Markets : Nikkei up 0.34%, Shanghai Composite up 1.84%, Hang Seng down 0.34%, ASX up 0.25% Commodities : Gold at $1608.95 (-0.18%), Silver at $18.28 (-0.16%), Brent Oil at $59.28 (+0.27%), WTI Oil at $53.78 (+0.54%) Rates : US 10-year yield at 1.559, UK 10-year yield at 0.603, Germany 10-year yield … Continue reading Thursday 20th February: Asian markets mixed; China cuts LPR
EUR/USD continues to echo a bearish stance, capped at the underside of the 1.08 handle on the H4 timeframe. The US dollar index continued marching higher Wednesday, scoring highs at 99.71, levels not seen since May 2017.
