Continuum_Economics

Continuum_Economics

13:45 GMT - The anticipated test above the 105.50/68 barrier has reached 105.77, where unwinding intraday studies are prompting short-term reactions. There is potential for a run towards the 106.00 Fibonacci retracement, but overbought daily stochastics are expected to limit any immediate tests in profit-taking. A short-term pullback is possible, but rising...

Continuum_Economics

08:05 GMT - Short-term gains have failed shy of 1.3700, as intraday studies track lower once again and prompt fresh selling interest. Congestion around 1.3600 is under pressure, but negative daily stochastics and the bearish Tension Indicator highlight increased selling interest and a later break towards 1.3500. Critical support, however, is at the 1.3450 monthly...

Continuum_Economics

13:05 GMT - The test below critical support at 0.7592/00 has given way to a short-term FX:AUDUSD bounce, whilst oversold intraday studies unwind, with prices back in consolidation above 0.7600. Daily stochastics are also flattening in oversold areas, highlighting a cautious tone, but the Tension Indicator remains bearish and weekly charts are negative,...

Continuum_Economics

No change in the bearish FX_IDC:EURPLN tone, as falling intraday studies keep near-term sentiment negative and extend pressure on support at the 4.4950 Fibonacci retracement and congestion around 4.5000. Daily stochastics and the Tension Indicator continue to fall, and broader weekly charts are also deteriorating, pointing to potential for still further slippage...

Continuum_Economics

Consolidation is giving way to a fresh test lower, whilst intraday studies track lower, with prices currently retesting critical support at the 0.8815 Fibonacci retracement. Daily readings are mixed, suggesting further consolidation around here, but a break will confirm continuation of September 2020 losses towards the 0.8750 retracement. Meanwhile, resistance...

Continuum_Economics

No significant change, whilst mixed daily readings keep price action cautious. Intraday price action is leaning lower, but critical support at 1.2059/65 should continue to underpin any immediate downside tests. The broader weekly chart, however, continues to deteriorate, suggesting the current consolidation phase is likely to give way to renewed losses. A later...

Continuum_Economics

The anticipated break above 104.00 is settling into consolidation beneath 104.50/58, whilst overbought intraday studies unwind. Daily studies have turned higher, and broader weekly charts continue to strengthen, however, pointing to a later break and an early sign of a correction of the March 2020 bear trend. Meanwhile, support is raised to 104.00. Any immediate...

Continuum_Economics

The pullback from 0.8900 is pressuring critical support at the 0.8830 weekly low of 21 January, where oversold intraday studies could prompt short-term consolidation. Daily stochastics have ticked lower, however, and the Tension Indicator is flattening, highlighting a deterioration in FX:EURGBP sentiment and scope for a later break. A close below 0.8830 will...

Continuum_Economics

The break below 0.7700 is finding support above the 0.7659 weekly low of 18 January, whilst oversold intraday studies unwind. Focus is back on congestion around 0.7750, but negative daily studies and deteriorating weekly charts are expected to limit any break to 0.7800/20. An unexpected close above here will turn sentiment outright Positive and extend broad March ...

Continuum_Economics

The test of the 126.30 retracement is giving way to a short-term pullback, whilst overbought intraday studies unwind. A break below congestion around 126.00 is highlighted, but rising daily stochastics and the improving Tension Indicator should prompt fresh FX:EURJPY buying interest around 125.50, before negative weekly charts extend losses still further. A...

Continuum_Economics

The test of congestion around 90.00 has given way to a short-term corrective bounce, whilst oversold intraday studies unwind. Focus is turning to 90.50, but negative stochastics and the deteriorating Tension Indicator suggest difficulty sustaining any immediate tests/break. In the coming sessions, consolidation is expected to give way to further losses, with a...

Continuum_Economics

Choppy trade around the 1.3675 Fibonacci retracement and the 1.3711 weekly high of 14 January is showing signs of improvement, as intraday studies turn higher. Daily stochastics are also turning higher and the flat Tension Indicator is ticking up, highlighting scope for fresh FX:GBPUSD gains in the coming sessions. A later close above 1.3711 will turn sentiment...

Continuum_Economics

The pullback from 1.2800 has given way to a sharp break lower, with FX:USDCAD now pressuring critical support at the 1.2625/30 weekly lows from 6-14 January. Intraday studies are oversold, highlighting scope for short-term consolidation around here, but daily readings have ticked down, pointing to further losses in the coming sessions. A close beneath here will...

Continuum_Economics

The pullback towards 1.3500 has given way to a corrective bounce from 1.3520~, whilst oversold intraday momentum studies unwind. FX:GBPUSD is trading around 1.3600, but falling daily stochastics and the bearish Tension Indicator are expected to cap any break to below the 1.3675 Fibonacci retracement. Following corrective trade, downside levels are expected to...

Continuum_Economics

13:15 GMT - Consolidation above 0.7700 is giving way to the anticipated break lower, as negative daily stochastics and the bearish Tension Indicator add fresh weight to sentiment. Focus is turning to the 0.7625 Fibonacci retracement, with a further close beneath here confirming a more significant correction, extending FX:AUDUSD losses below 0.7600 towards the...

Continuum_Economics

Steady FX:EURUSD losses have reached the 1.2129 weekly low of 21 December, where unwinding oversold intraday studies are prompting short-term consolidation. A minor corrective bounce is possible, but negative daily stochastics and the falling Tension Indicator should keep gains capped below congestion around 1.2200 Following consolidation, expectations are for...