The EURUSD closed at the downtrend line of the descending wedge that has captured the low volatility of the pair for the last couple years. Today, we tested that resistance near the 1.1140 level.
Last week’s Nonfarm Payrolls print – and the subsequent market reaction – made me think about US equities and how their behaviour has changed over the years following the 2008 global financial crisis. Let’s first take a step back and remember how things used to work prior to 2008, regarding the relationship between economic data […]
The Kiwi has shown a lot of divergence on the RSI in the last month as we traded to new 52-week lows.
The big rejection at the 108.50 level came following the very poor ISM Manufacturing data yesterday as the pair slid into key support today at the 107.00 level.
An ascending wedge is a bearish setup by definition. However, the instrument is not actually bearish until we break the lower trend line of the wedge.