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EUR/USD: EUR/USD ran into decent resistance at 1.0615 overnight, and fell back to 1.0575. Nevertheless, short-term techs have turned bullish and it is likely that we will see a test of the late December high at 1.0650 soon.   Intraday support can be expected at 1.0550, but the key area traders should be watching is … Continue reading Friday 6th January 2017: Technical Outlook and Review

Global Markets: Asian stock markets: Nikkei down 0.40 %, Shanghai Composite lost 0.15 %, Hang Seng rose 0.35 %, ASX 200 gained 0.02 % Commodities: Gold at $1177 (-0.35 %), Silver at $16.40 (-1.40 %), WTI Oil at $53.75 (-0.05 %), Brent Oil at $56.90 (-0.05 %) Rates: US 10-year yield at 2.36, UK 10-year … Continue reading Friday 6th January: European Open Briefing

EUR/USD: EUR/USD broke above 1.05 resistance overnight and has extended gains to 1.0565 so far. Resistance is seen at 1.0590, followed by 1.0650 (Dec 30 high). It would likely take a break above 1.0650 to cause a larger short squeeze, but the clear break above 1.05 signals that further gains could be ahead. The former … Continue reading Thursday 5th January 2017: Technical Outlook and Review