Consolidation range breakout: The GBP/USD ended last week (3/1) with a break down of a consolidation range roughly between 1.5070 and 1.5220. The 1H chart shows a strong break and start of bearish momentum. Price cracked the 1.50 handle. The moving averages also got back to bearish alignment, that is until price returned above 1.
Fan Yang | Mar 04 | FX Times
The EURUSD pared the overnight decline to 1.2981 amid speculation that the euro-area will utilize the European Stability Mechanism (ESM) to directly refinance its banking sector, but the finance minsters' meeting in Brussels may fail to stem the risk for contagion should Cyprus struggle to secure a bailout.
David Song | Mar 04 | DailyFX
As indicated in our weekly outlook, AUDUSD extended its broader medium term weakness during Monday trading today. With the pair now holding below the 1.0200 level and testing a low of 1.0114 level, there is risk of further downside pressure. The immediate support resides at the 1.0100 level where a break will target its big psycho level at the 1.0000 level.
Mohammed Isah | Mar 04 | FX Tech Strategy
Channel breakout: The USD/CHF had been consolidating around 0.93 for a few days as a rising channel challenged a larger falling channel. The 2/28 and 3/1 session so far has broken out of that consolidation, and even pushed above the 0.9381 resistance pivot. The RSI is tagging 70, a sign of bullish momentum.
Fan Yang | Mar 01 | FX Times
With GBP selling off through its minor support at 1.5079 level, further bearishness is expected. This will target the 1.5000 level where a respite may occur and turn it higher.
Mohammed Isah | Mar 01 | FX Tech Strategy
U.S markets weighed up a mixed bag of economic reports with encouraging weekly jobless claims offsetting a weaker than expected revision of fourth quarter growth, while concerns surrounding budget cuts encouraged only moderate weakness late in the session.
Chris Gore | Mar 01 | GoMarkets
The greenback was weaker across the board overnight, with global investors seemingly less pessimistic over Italy's political woes.
Chris Gore | Feb 28 | GoMarkets
Consolidation: The EUR/USD has been bearish in the month of February falling from 1.3710 to this week's low of 1.3015. In the daily chart you can see that this action broke below a rising trendline that went back to July as you can see in the daily chart below. In the hourly chart, you can see that EUR/USD has settled into a sideways consolidation after the breakout swing, between 1.
Fan Yang | Feb 27 | FX Times
The Euro climbed to an overnight high of 1.3121 as economic confidence in Europe rose to a nine-month high, but we're seeing the EURUSD struggle to push back above the 38.2% Fibonacci retracement from the 2009 high to the 2010 low around 1.3120 as the debt crisis continues to drag on the real economy.
David Song | Feb 27 | DailyFX
Consolidation: The EUR/JPY is consolidating during the 2/26 session, after a bearish 2/25 session, which was caused by the Italian election drama. The 2/26 consolidation range is between 122.33 and 118.70. A break below 118.70 therefore signals bearish continuation, and a break above 122.35 suggests more confirmation is needed for the bearish outlook.
Fan Yang | Feb 27 | FX Times
Consolidation: The AUD/USd entered a period of consolidation since the start of February and still remains in that mode. The 4H chart shows a consolidation range roughly between 1.0220 and 1.0375. As we begin the 2/26 US trading session, the pair is inching down toward the consolidation support area.
Fan Yang | Feb 26 | FX Times
With an unsustained rally at the 0.8814 level seeing the cross turning lower on Monday, further price consolidation cannot be ruled out. This could force further downside towards the 0.8567 level. However, while this level caps, there is risk of an eventual return to the 0.8716 level. This if seen will leave it targeting the 0.8800 level, its psycho level and then the 0.8500 level.
Mohammed Isah | Feb 26 | FX Tech Strategy