GBP/USD: Cable Tests Seven-Week Highs Ahead of UK CPI...

GBP/USD Talking Points: – GBP/USD continues to show strength with contribution coming from both sides of the pair: US Dollar weakness remains as the British Pound continues to claw-back prior losses. – This week’s big item out of the UK is the release of August inflation numbers set for Wednesday morning; but fully expect Brexit headlines to continue to push price action in either direction. – Quarterly Forecasts have just been updated, and the Q3 forecast for GBP/USD is available from the DailyFX Trading Guides Page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide. Want to see how retail traders are currently trading GBP/USD? Click here for GBP/USD Sentiment. The Cable Recovery Continues The British Pound continues to claw back prior losses, as we’ve now erased the entirety of the early-August sell-off in GBP/USD. Last month started in a rocky manner for GBP after theArticle source:...

EUR/USD Technical Analysis: Euro Topping Near 1.17 Figure?...

EUR/USD Technical Strategy: NET SHORT AT 1.2153 RSI divergence hints at on-coming Euro downtrend resumption Confirmation on a break of near-term chart supportstill needed Waiting to add to short EUR/USD trade, pending greater clarity See our free guide to get help building confidence in your EUR/USD trading strategy! The Euro may finally be ready to resume the down trend against the US Dollar after nearly a month of indecision at resistance in play since mid-June. The appearance of RSI divergence hints at ebbing upside momentum, suggesting a downturn may be in the cards ahead. A look at the four-hour chart argues for patience however. The bounds of the latest upswing remain conspicuously intact. So too does support above the 1.15 figure that cut short the prior attempt at downtrend resumption in late August. All this warns against assumptions of immediate downside follow-through. With that in mind, it seems prudent to wait before adding further to the EUR/USD shortArticle source:...

ASX 200 Technical Analysis: Nascent Uptrend Looks Worth Playing...

ASX 200 Technical Analysis Talking Points: The Australian stock benchmark has bounced at key support Since then it has build a respectable uptrend This looks as though it might stick around Get live, interactive coverage of all major Australian economic data at the DailyFX Webinars The ASX 200’s September bounce at key support has been the platform for a minor but notable fightback, which could well see further gains yet. That bounce took place on September 7. The intraday low of that day was 6095.5, a point which probably not coincidentally is also the second, 38.2% Fibonacci retracement of the rise up from the lows of mid April to the double highs of August and September. The daily candlestick for that session evinced the small difference between the open and the close, eclipsed by a much broader intraday range, which can be characteristic of a change in sentiment. So it proved with the trading sessions since forming a nascent but already quite well-respected uptrend...

DAX Chart Outlook – Can Price Stay Above Resistance?...

DAX Technical Highlights DAX trading above the 12100-area, an important threshold Today’s closing print viewed as important For the intermediate-term fundamental and technical outlook for the DAX Euro, check out the Quarterly Report. DAX trading above the 12100-area, an important threshold The week before last the DAX broke fairly significant support just around the 12100-level, but found a low just a few days later. This has the level once viewed as support now a level of resistance. It’s come into play each of the past four sessions, with no success so far in recapturing it (but trying now). Should we see the market sustain above resistance on a daily closing basis, then momentum on the break could carry it higher. It will still be an uphill battle, though, as the trend during recent months stays negative. The key is whether the market can close above 12100 or not. An intra-day move could see price traverse well above resistance (like today) only to have a closing print back below. In this event, the rejection to maintain above would further solidify resistance. If the market sinks back belowArticle source:...

Weekly Technical Forecast: Dollar and Equities Lose Traction Ahead, Leaving Next Week’s Break In Doubt...

Check out our Economic Calendar for upcoming economic data and central bank events. Australian Dollar Forecast – AUD/USD Breakout Struggles, EUR/AUD Risks Reversing to August Lows The breakout lower in AUD/USD struggled, next week may determine if it will continue. Meanwhile a bearish reversal pattern with support break warns EUR/AUD may reverse to August lows. Euro Forecast – Euro Stalls at Wall of Resistance The euro will start the week coming off resistance, keeping it amid the chop; tactical considerations outlined for both sides of the market. Japanese Yen Forecast – Charts Spell Trouble for Yen The Japanese Yen is entering the new week on weak footing, especially as the Nikkei 225 attempts a breakout. Equity Forecast – Dow, SP 500, DAX, FTSE and Nikkei European equities finally found a bit of support as US equities pulled back to close the week. Global stocks appear to be lining up for an interesting Q4 around-the-world. British Pound Forecast – Trend Support Needs Respecting The daily GBPUSD chart shows further upside possible but the four-hour chart warns that the recentArticle source:...

EUR/GBP Technical Analysis: Will The Euro Decline Continue?...

EUR/GBP Technical Strategy: Flat Euro down move stalls below 0.89 figure after reversal near 0.91 Trend turn signal inconclusive, former resistance holds as support Waiting for clarity, improved risk/reward setup to enter position See our free guide to help build confidence in your EUR/GBP trading strategy! The Euro has stalled at support below the 0.89 figure against the British Pound following an expected drop after the appearance of a bearish Dark Cloud Cover candlestick pattern. That down move broke support guiding the uptrend mid-June, seemingly arguing for bearish continuation. A push through the 0.8881-0.8873 area may open the door to challenge the 0.8798-0.8815 region. A look at the daily chart warns against entering short too readily however. Prices appear to be wedged between former support recast as resistance and a former upside barrier guiding the down move since mid-October 2017, itself now reframed as a downside hurdle. This makes for inconclusive positioning. On one hand,Article source:...