EURGBP Daily Chart (correcting or end of trend>)
Those who have followed me over the years have seen me say you can’t trade EURUSD or GBPUSD without keeping an eye on EURGBP. The move up in this cross is behind some of the demand for EURUSD while GBPUSD struggles on the upside.
As the chart shows, EURGBP has bounced off a test of .8500 *just below( and is currently trying to establish above,8575, which would expose .8592-.8620 as the last leg down is negated.
On the downside, it needs to hold .8532 to keep the bid but .8570+ for the string bid.
A look at the day ahead in European and global markets from Tom Westbrook
Europe’s central bank has singled out wages as the single biggest risk to its crusade to contain inflation. Fourth-quarter negotiated wages data likely headlines the trading day.
USDCHF Analysis: Uptrend Continues, Resistance and Support Levels
The USDCHF pair is currently above a rising trend line on its 4-hour chart, indicating that the pair remains in an uptrend from 0.8550.
As long as the trend line support holds, the pullback from 0.8885 could be seen as consolidation for the uptrend. A breakthrough of the 0.8845 resistance level could trigger another rise to test the 0.8885 resistance level. A breakthrough of this level would aim for the 0.9000 area.
The key support level is located at 0.8782. Only a breakdown below this level would indicate that the upside move has completed at the 0.8885 resistance level already. In this case, the pair would find next support at around the 0.8650 area.
ROFL …. please someone tell me
that there is no co-ordination, that I am a hallucinating conspirationalist:
–
Summers: “Meaningful Chance” That Fed Might Hike Rates
YouTube · Bloomberg Television 3 days ago
Rate Hike May Be Fed’s Next Move If Growth Picks Up
4 days ago — (Bloomberg) — The Federal Reserve’s next interest-rate move could be a hike — rather than a cut — if the US economy reaccelerates …
USDCAD 4-Hour Cgart
Why am I posting a USDCAD chart?
There is a very light economic calendar on Tuesday except for Canada CPI.
Looking at this chart, there is a broad range near 1.34-1.36 (1.3412-1.3585)
So it is no wonder the pair keeps gravitating towards the 1,35 midpoint.
Rising trendline offset by falling resistance lines (blue).
Whatever the case, expect some volatility around the CA inflation report but only a break of 1.34-1.36 would be significant/
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