Technical Analysis

Technical Analysis

Monday 21st December: Technical Outlook and Review

Price action on the weekly timeframe, as highlighted in recent technical briefings, also reveals further selling could be on the cards this week. Recent weeks witnessed price elbow through the 2020 yearly opening value at 1.2975 and Quasimodo support coming in at 1.2887. With both 1.2975 and 1.2887 depicting resistance, sustained downside places the 2018 yearly opening value at 1.2579 in the firing line. Also important to note is that long-term flow has been pointing lower since topping in March.

By IC Markets Global

Technical Analysis

Friday 18th December: Technical Outlook and Review

USD weakness, fuelled by Thursday’s risk-on environment and Fed Chair Powell’s dovish tone in the post-meeting press conference on Wednesday, led EUR/USD to fresh multi-year pinnacles.

By IC Markets