Monthly timeframe:
Partially altered outlook from previous analysis –
Despite a healthy attempt at recovery from demand at 1.0488/1.0912 in October 2019 – a particularly noteworthy area given the momentum derived from its base – EUR/USD failed to sustain gains, and had the unit retesting its upper boundary last week, with price beginning to tunnel through its...
Monthly timeframe:
Brought forward from previous analysis –
Despite a healthy attempt at recovery from demand at 1.0488/1.0912 in October 2019 – a particularly noteworthy area given the momentum derived from its base – EUR/USD failed to sustain gains, and had the unit retesting its upper boundary last week.
Although down 2.30% on the month and in-line with the...
AUD/USD:
Monthly timeframe:
Brought forward from previous analysis:
Following a retest at the underside of a resistance area drawn from 0.8409/0.8082 in early 2018, AUD/USD has been grinding lower, down nearly 1500 points since.
June 2018 witnessed a long-standing trend line support (1.4776) give way, followed by the 0.6827 January 2016 low in August 2019....
EUR/USD:
Monthly timeframe:
Brought forward from previous analysis:
Long term, EUR/USD’s primary trend has faced a southerly trajectory since topping in mid-July 2008, at 1.6038. Activity on the monthly chart remains languishing south of a resistance area at 1.2048/1.1653 as well as a trendline resistance (1.6038).
Downside risk remains on this timeframe...
GBP/USD:
Monthly timeframe:
Brought forward from previous analysis:
Early February 2018 saw the pair reject 1.4520/1.3893, a 50.0% retracement and 38.2% Fibonacci retracement combination (red).
In recent months, though, the market witnessed longer-term flows retest the underside of a resistance area at 1.3699/1.3503. continued selling is a possibility on this...
USD/JPY:
Monthly timeframe:
Brought forward from previous analysis:
Since kicking off 2017, USD/JPY has been busy carving out a descending triangle pattern. The breakout for this pattern is common to the downside, but an upward breakout is considered more reliable and profitable.
Outside of the current configuration, a resistance area is visible at...
EUR/USD:
Monthly timeframe:
Brought forward from previous analysis:
Long term, EUR/USD’s primary trend has faced a southerly trajectory since topping in mid-July 2008, at 1.6038. Activity on the monthly chart remains languishing south of a resistance area at 1.2048/1.1653 as well as a trendline resistance (1.6038).
Downside risk remains on this timeframe...
Since kicking off 2017, USD/JPY has been bust carving out a descending triangle pattern. The breakout for this pattern is more common to the downside, but an upward breakout is considered more reliable and profitable.
Outside of the current configuration, a resistance area is visible at 121.36/124.23, while lower on the curve we have a support area at 98.83/101.42.
Monthly timeframe:
Brought forward from previous analysis:
Long term, EUR/USD’s primary trend has faced a southerly trajectory since topping in mid-July 2008, at 1.6038. Activity on the monthly chart remains languishing south of a resistance area at 1.2048/1.1653 as well as a trendline resistance (1.6038).
Downside risk remains on this timeframe until...
EUR/USD:
Monthly timeframe:
Long term, EUR/USD’s primary trend has faced a southerly trajectory since topping in mid-July 2008, at 1.6038. Activity on the monthly chart remains languishing south of a resistance area at 1.2048/1.1653 and a trendline resistance (1.6038).
Downside risk remains on this timeframe until reaching a support area marked at...
