EURUSD: EUR/USD is approaching trendline resistance and a break above would confirm the double bottom pattern at 1.0630. However, the currency pair could struggle to rally, since solid resistance lies at 1.0720 and 1.0750. Only a break above 1.0750 would signal that there might be potential for a larger recovery in EUR/USD. GBPUSD: GBP/USD is … Continue reading Thursday 6th April: Technical Outlook and Review
Global Markets: Asian stock markets: Nikkei down 0.10 %, Shanghai Composite gained 1.05 %, Hang Seng declined 0.40 %, ASX 200 lost 0.15 % Commodities: Gold at $1257 (-0.10 %), Silver at $18.25 (-0.40 %), WTI Oil at $51.30 (+0.55 %), Brent Oil at $54.40 (+0.45 %) Rates: US 10 year yield at 2.35, UK … Continue reading Wednesday 5th April: European Open Briefing
EUR/USD Price has bounced slightly overnight. While the outlook remains negative, the currency pair does look oversold in the short-term. Initial resistance is noted at 1.07, with stronger resistance then seen at 1.0718 and 1.0750 (38.2 % Fibonacci of the March Rally). A rally to one of those aforementioned levels is likely to attract decent … Continue reading Wednesday 5th April: Technical Outlook and Review
