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Day: March 18, 2019
March 182019
Mixed Technical Analysis Signals Tear AUD/USD Apart
Price action seen in Australian dollar’s performance versus its US counterpart is affected by the conflicting perspectives presented by the different timeframes in the currency pair’s technical analysis. Long-term perspective On the daily chart (D1), the pair is contained within the descending channel that debuted at the start of February, 2018. The current phase is a consolidation one, being limited by 0.7308 as resistance and 0.7055 as support, and resembles a falling wedge. Although this type of pattern […]
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March 182019
Canadian Dollar Weakens on Bearish Forecasts
The Canadian dollar is weakening to start the trading week, driven by multiple bearish forecasts that suggest the loonie will crumble to multi-year lows. The buckâs losses were capped by rallying energy prices as crude oil prices have surged more than 5% in the last week. On Monday, TD Bank published a report that projected the dollar may tumble 71 cents by the end of the year. This would represent a 5% decline in nine […]
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March 182019
Euro Rallies to 2-Week Highs on Positive Sentiment, Later Drops
The euro today extended last week’s gains against the US dollar driven largely by positive investor sentiment given the lack of major releases from the European docket. The EUR/USD currency pair rallied to 2-week highs in the mid-European session before dropping lower as investors became wary of current geopolitical conditions. The EUR/USD currency pair today rallied from an opening low of 1.1318 to a 2-week high of 1.1359 before hitting resistance and heading lower. […]
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