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Weekly Technical Market Insight: 22nd – 26th February 2021

Weekly Technical Market Insight: 22nd – 26th February 2021

Note—Charts provided by Trading View US Dollar Index (Daily Timeframe): The US dollar, as measured by the US dollar index, settled last week mostly unmoved, establishing what many technical analysts refer to as an indecision candle (albeit with a slight edge to sellers). Since early February, sellers claimed the 127.2% Fib projection at 91.44 and now loiter a touch...

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Weekly Technical Market Insight: 15th – 19th February 2021

Weekly Technical Market Insight: 15th – 19th February 2021

Note—Charts provided by Trading View US Dollar Index (Daily Timeframe): The greenback was on the ropes last week, consequently snapping a two-week bullish phase. Measured by the US dollar index, the buck shed 0.7 percent, following a bearish outside reversal formed on February 5 from a 127.2% Fib projection at 91.44. Friday settling considerably off best levels,...

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Weekly Technical Market Insight: 8th – 12th February 2021

Weekly Technical Market Insight: 8th – 12th February 2021

US Dollar Index (Daily Timeframe): Measured by the US dollar index, last week witnessed USD bulls strengthen their grip and record a second successive weekly gain, settling 0.5 percent higher. Friday, however, watched sellers make an entrance from a 127.2% Fib projection at 91.44, extended from the 89.20 low. Candlestick enthusiasts will also note Friday’s...

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Weekly Technical Market Insight: 1st – 5th February 2021

Weekly Technical Market Insight: 1st – 5th February 2021

Note – Charts provided by Trading View US Dollar Index (daily timeframe): The US dollar index (DXY)—a measure of the US dollar’s value relative to a basket of foreign currencies— outperformed last week, settling 0.4 percent higher. The DXY clawed back a significant share of the prior week’s correction, introducing the possibility of wrestling 91.00...

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January 26th 2021: US Dollar Index Holding North of 90.00 Ahead of US CB Consumer Confidence Data

January 26th 2021: US Dollar Index Holding North of 90.00 Ahead of US CB Consumer Confidence Data

Note – Charts provided by Trading View EUR/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 at 1.1857/1.1352 in August, EUR/USD, by way of two back-to-back bullish candles, welcomed 2021...

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Weekly Technical Market Insight: 25th – 29th January 2021

Weekly Technical Market Insight: 25th – 29th January 2021

US Dollar Index: The US dollar index, or more commonly referred to as the DXY, found itself lower by 0.5 percent last week. Within a stone’s throw from the 91.00 level, the DXY snapped a two-week winning streak and introduced the possibility of reconnecting with daily support at 89.34 this week. Above 91.00, technical studies cast...

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Weekly Technical Market Insight: 11th – 15th January 2021

Weekly Technical Market Insight: 11th – 15th January 2021

US Dollar Index: The US dollar, as measured by the US dollar index (DXY), concluded 0.2 percent higher in the first full trading week of 2021. Recovering from daily support at 89.34 (taken from March/April 2018), off fresh 33-month lows at 89.20, the DXY ended marginally north of 90.00 resistance. Additional technical observations on the...

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Weekly Technical Market Insight: 21st – 24th December 2020

Weekly Technical Market Insight: 21st – 24th December 2020

EUR/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, a modest correction surfaced. However, buyers making an entrance in November and December currently trading higher by 2.8 percent...

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Weekly Technical Market Insight: 14th – 18th December 2020

Weekly Technical Market Insight: 14th – 18th December 2020

US Dollar Index: Measured by the US dollar index (DXY), the USD tentatively snapped a three-week losing streak over the course of recent trading. Despite this, technical elements argue buyers may be reluctant to commit this week. Besides 91.00 proving stubborn resistance, additional 8-month daily trendline resistance (102.99) occupies the 91.25 area. Down south, focus...

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Black and White Technical Report: The Week Beginning 7/12/2020

Black and White Technical Report: The Week Beginning 7/12/2020

Both Australian and US markets finished another tearaway week, with the DOW30 closing over 30,000 and the S&P 500 closing one point short of a record 3700. Commentary is growing more vocal warning of a top in the markets, looking at Tesla with a PE ratio of 1,186 it’s not difficult to believe markets have...