The EURUSD has finally cracked the multi month range lows and seems to be breaking lower (finally!) to test the 127% extension of the last rally.
The EURMXN is breaking out of a long term consolidation inside a triangle that has formed all of 2019. This is a significant development for a couple reasons.
A breakout higher or lower out of this triangle will happen following the Australian employment data tonight.
During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.
The EURGBP is about to trigger a double top pattern as we test the 88% retracement on the daily chart.
The EURUSD finally broke higher out of the two month consolidation with the pair reaching as high as 1.1550 today.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
The EURJPY has bounced back to the breakdown point near the 125.00 level which is a do or die level for the bulls.