Technical analysis

07 تشرين الثاني (نوفمبر) 2018

12:18 EURUSD: Euro Posts a Bullish Breakout

EURUSD: Euro Posts a Bullish Breakout 07.11.2018


The greenback was trading broadly lower on Wednesday as traders took the latest election results negatively and the US Dollar was sold-off. Thus, the EURUSD pair pushed higher and was seen to be 0.40per cent stronger during the London session, changing hands at two-week highs, near 1.1480.

The pair managed to jump above the first important resistance at 1.1445 and therefore, posted a bullish breakout from the latest consolidation zone. As long as the single currency trades above 1.1445, the short-term outlook seems bullish.

Bulls may target the 1.15 level now, but it appears that the Dollar index made a double top pattern recently, which could lead to deeper losses for the greenback. Therefore, the next area of interest for bulls might be at 1.1550.

On the other hand, if the 1.1445 support cracks, the next level might be at around 1.1380, where the short-term bullish trend line is converged with another horizontal support.

 

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08 تشرين الثاني (نوفمبر) 2018, 11:48

EURJPY: Euro Marches to Key Resistance

07 تشرين الثاني (نوفمبر) 2018, 11:41

CADCHF: Swissie Seems Ready to Accelerate Higher

Focus market

  • Irish PM Varadkar: Ideally Would Get Brexit Deal By Year End
  • The sentix overall index for Euro Area fell again in November from 11.4 to 8.8 points
  • UK consumer credit increased by £0.8bn in September
  • Spanish unemployment continues at its lowest levels in the last 9 years
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