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Technical Analysis: EUR/GBP Rebounds from 0.8460 Support

Posted by Chris Advincula on Nov 28, 2016 6:01:05 AM

 

(Nov 28 Monday) The euro-sterling chart shows a well supported line at 0.8460, which is also the recent lows from Nov 24 - 25 (Thursday-Friday). Within this particular level, both the 14 day moving average support line happens to sit at the Fibonacci retracement level of 0.8444 from Sept 12.

The next support line is 0.8350 from Sept 5th, While the 14 DMA shows another support 0.8400. The intraday chart today shows a good rebound from the support line of 0.8460 to 0.8560. This rebound is also visible on the ROC chart which rebounded from 95 to the current 99.7017. The 14 day relative strenght index also shows a good rebound from the 30 Oversold level to the current 38.51492. 

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Topics: European Session, euro-sterling, EURGBP, Forex Market, technical analysis

Technical Analysis: USDCAD Channel High at 1.3588

Posted by Chris Advincula on Nov 22, 2016 6:04:16 AM

(Nov 22 Tuesday) The daily chart shows an ascending channel pattern with a peak and reversal from the Nov 14 high of 1.3588, Compared to the hourly chart below, there are two visible declining or double tops of 1.3588 and 1.3565 (Nov 17), which showed the profit-taking of long positions from the past week to 1.3380 (Fibonacci retracement 61.80%).

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Topics: Canadian dollar, European Session, Forex Market, technical analysis, USDCAD

Aussie Shines After Inflation Data, Dollar Retreats From Highs

Posted by Chris Advincula on Oct 26, 2016 9:18:56 AM

(Oct 26 Reuters) The Australian dollar was an outperformer on Wednesday, bucking a broad risk-averse environment in global markets, helped by a higher-than-expected inflation reading that dented chances of an interest rate cut in the near term.

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Topics: $USDJPY, EURUSD, AUDUSD, Reserve Bank of Australia, US Dollar Index, Forex Market, Europe, Federal Reserve monetary policy

Pound Fails to Shake Off Wounded Image After Week of Flash Crash

Posted by Chris Advincula on Oct 10, 2016 6:53:40 AM

(Oct 10 Bloomberg) Sterling resumed its decline as investors remained in the dark about the cause of last week's flash crash and over whether Britain is truly headed for a hard Brexit.

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Topics: GBPUSD, Forex Market, BREXIT

Dollar Traders Look Past Fed Hawks to Canvas of Dovish Dots

Posted by Chris Advincula on Sep 22, 2016 6:47:50 AM

(Sept 22 Bloomberg) Dollar bulls banking on the Federal Reserve to signal at least one interest rate increase by year-end got their wish -- and were all disappointed.

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Topics: US Dollar, Forex Market, Federal Reserve monetary policy, Fundamentals

 

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