A Technical Look Look At Currencies

TL;DR

Euro shows bullish signs, sterling remains bullish with potential target, Euro against sterling indicates bearish movement, US dollar against the Japanese yen shows uncertain reversal, and the US dollar against the Aussie dollar faces resistance.

Transcript

hello my name is Eddie topic I'm head of technical analysis and senior Markets analyst said ADM investor serves international mitad I'd like to go through some charts on foreign exchange with you and we start off with the Euro against the US dollar now whether we have a fourth bullish white soldier plus a first close up over the upper tine of the v... Read More

Key Insights

• 🛀 Euro against the US dollar is showing positive momentum with a bullish pattern and support from Fibonacci levels.
• 📈 Sterling against the US dollar remains bullish, with a strong upward trend and successful break of resistance.
• 🤩 Euro against sterling indicates a bearish movement, breaking key levels and suggesting further downward potential.
• 👹 Reversals in Japanese yen instruments should be approached with caution due to the market's technical analysis expertise.
• 💲 US dollar against the Aussie dollar initially showed bullish signs but faces resistance and a pullback.

Questions & Answers

Q: What are the bullish signs for the Euro against the US dollar?

The Euro is showing a bullish white soldier candlestick, a close above the bearish shift pitchfork, and a decline in the moving average, indicating a positive outlook.

Q: Why is sterling against the US dollar considered bullish?

Sterling has surpassed previous resistance levels, including the 50% Fibonacci level, and closed above them for two weeks. Additionally, it reached the upper tine of the bullish 2019 shift pitchfork, suggesting further bullish potential.

Q: What does the Euro against sterling chart indicate?

The chart shows a bearish movement, with a bearish long back mera bozo candlestick that counters the previous bullish her army. It has broken important Fibonacci and shift pitchfork levels, indicating a downward trend.

Q: Is the reversal in the US dollar against the Japanese yen reliable?

The key reversal down in this pair is questionable due to the market's technical analysis savvy and its tendency to set traps. Caution is advised when interpreting key reversals in Japanese yen instruments.

Q: What is the current situation in the US dollar against the Aussie dollar?

The pair initially showed bullish signs with a white soldier candlestick and a key reversal up. However, it faced resistance at the 38.2% Fibonacci level and a short moving average, causing a pullback.

Summary & Key Takeaways

• Euro against the US dollar has a positive outlook with a bullish white soldier, close above the bearish shift pitchfork, and a decline in the moving average.

• Sterling against the US dollar remains bullish, surpassing previous resistance levels and showing strength in the 2019 action.

• Euro against sterling indicates bearish movement, breaking important Fibonacci and shift pitchfork levels.

• US dollar against the Japanese yen shows a potential key reversal down, but caution is advised as key reversals in yen instruments can be deceptive.

• US dollar against the Aussie dollar shows bullish signs but faces resistance at the 38.2% Fibonacci level and short moving average.