Euro/Dollar sees consistent results across the table, as it has exactly 5 neutral studies in the short, mid and long-term, and they indeed are in line with the less than 8% long interbank. The Cable also has neutral signals prevailing in all three time ranges, with 6 neutral studies in the short-term, 5 in the mid-term and 5 in the long-term, and the technicals are supported by the less than 2% short interbank. The 24-hour scale turns neutral with 6 studies, but, in contrast, the interbank is bullish at more than 22% long.
The GBP/JPY pair continues to be volatile as per usual, initially rallying towards the 152 handle during the trading session on Thursday, but then pulled back to reach towards the 151 handle after that.
Although better than expected UK Earnings triggered the GBPUSD’s bounce, the pair still remains below a short-term ascending trend-line, at 1.3370, that it broke yesterday. Given the prices continue declining after the 1.3245 SMA figure’s break, the 1.3170-60 region, comprising six-month old upward slanting TL, could challenge the Bears. GBPJPY is another GBP pair which took a U-turn after British employment details but still trades beneath recent TL break and hence continue remaining weaker.
The mid-term is divided between green and neutral signals, and the daily outlook is back to neutral. The interbank is neutral as well at less than 11% long, matching the 1 and 24-hour models. Mid-term brings 5 sell prompts, and the long-term is split between red and neutral models.
Traded volume is in line with the monthly average, and the neutral trader’s sentiment stands at 11% short. Trading has been slow, and the neutral trader’s sentiment stands at 5% long. This pair sees a quarter less funding than usual, and the sentiment is neutral at 8% short.
Dollar Index maybe does not show it perfectly as its mostly made from EUR so another strong currency but the USDJPY is definitely bullish. Ahead of this important event for the markets, the USDJPY is giving some bullish signals. After that, buyers managed to break a very important horizontal resistance on the 113.10 (grey) and later used that as the closest support.
The US Dollar strengthened during the previous week on US tax reform and Friday’s non-farm payrolls data showed the economy created more jobs than expected in November.
GBP/JPY pair continues to attempt a breakout above the 153 handle, and once it does, we could go much higher.
There’s red across the table for the Euro/Dollar, which sees 6 sell prompts in both the short and long-term and no less than 7 bearish signals in the mid-term, but, in contrast, the interbank is neutral at less than 12% long. Dollar/Yen has bullish models prevailing in all three time ranges, with 6 buy prompts in the short-term, 7 in the mid-term and 5 in the long-term, and they indeed are in line with the more than 23% long interbank. Pound/Yen also has green signals dominating across the chart, as it sees 5 buy prompts in both the short and long-term and 7 in the mid-term, but they are not supported by the interbank, which is neutral at less than 11% long.
Euro/Dollar’s short and long-term charts are both divided between red and neutral signals, whereas the mid-term scale sees 6 sell prompts, but the interbank is neutral at less than 15% long, and it does not support the technicals. Neutral models prevail across the chart for the Cable, which sees 4 neutral models in both the short and mid-term and 6 neutral indicators in the long-term, and they indeed are in line with the less than 2% short interbank. The mid and long-term scales turn neutral with 5 and 6 studies, respectively, but the interbank is bullish at more than 19% long, and it confirms the 1-hour models.
GBPUSD’s gradual declines from 1.3550 seems dragging the pair beneath a short-term ascending trend-line, which if sustained could further fetch it to 1.3330 and then to the 1.3280-75 horizontal-line. Should the quote continue declining below 1.3275, the 1.3220 and the 1.3180 rest-points may please sellers. However, pair’s inability to extend latest downtick may trigger its upside to the 1.3405 and the 1.3450, breaking which 1.3480 and the 1.3510 can re-appear on the chart. During the pair’s additional advances beyond 1.3510, the 1.3550 and the 1. ...
The Pound ran into political problems, as the Brexit has stumbled into a disagreement between Northern Ireland politicians who are part of the U.K governing coalition. As the Brexit negotiations prove difficult again, the short-term dynamics of the Pound took a wicked turn late on Monday. Northern Ireland politicians have said they will not agree to a Brexit deal unless they get concessions, and it has caused chaos for the Pound in the short-term.
Euro/Dollar has neutral models prevailing in all three time ranges, with 5 in the short-term, 4 in the mid-term and 6 in the long-term, but, in contrast, the sentiment is bullish at more than 15% long. The 24-hour scale turns bullish with 4 studies, but the technical models are not supported by the interbank, which is neutral at less than 4% long. Dollar/Yen has neutral models dominating on its short and mid-term charts.
U.K politics were thrown into turmoil as Northern Ireland politicians said they will not agree to the Brexit deal unless they get concessions. Global equities have been mixed. Wall Street was able to gain early on Monday but then saw pressure develop.
The Yen has weakened in recent trading against the U.S Dollar as risk appetite has not entirely disappeared among Asian traders. If U.S equities produce gains in the short-term, Japanese equities may see additional buying too, which could spark further Yen weakness.
Good Monday morning, the team is here with the Primary Daily Trading Signals. Euro/Dollar has bearish models prevailing on its short and mid-term charts, and the long-term scale turns neutral with 6 studies, but, in a notable contrast, the interbank is actually bullish at more than 16% long. The 4-hour scale is split between red and neutral models, and the 24-hour chart is mostly bullish, but the technicals are not supported by the interbank, which is neutral at less than 1% long.
The British pound initially fell during the week, but found bullish pressure to break above the vital 150 handle. However, we have not made a fresh, new high yet, so expect more volatility.
The Cable sees 5 neutral indicators on its 1-hour chart, while bullish signals prevail on the 4 and 24-hour charts. As to the interbank, it is neutral at less than 4% long, matching the short-term models. Next up is the Dollar/Yen with 5 and 6 bullish signals on its short and mid-term charts, respectively.
Praised be Jesus Christ, traders, you’re watching the Primary Daily Trading Signals for Thursday. Bullish at more than 15% long, the interbank confirms the short-term studies. The mid and long-term charts see 5 and 6 buy prompts, respectively, but the interbank is neutral at less than 1% short, matching the 1-hour technicals.