Euro, Pound Sterling, Euro Sterling, Japanese Yen, Aussie Dollar Update

TL;DR

Technical analyst Eddie reviews forex charts, predicting bearish trends in Euro, Cable, Euro Sterling, Dollar-Yen, and Aussie Dollar.

Transcript

hello my name is Eddie topic I am head of technical analysis and senior market analyst at ADM investor sirs international limited I'd like to go through some foreign exchange charts with you today and I will start with the euro dollar another a contrary pattern yesterday this time pretty much a bearish engulfing pattern interestingly over the last ... Read More

Key Insights

• 🌍 Euro Dollar shows bearish engulfing, likely to test 2018 lows.
• 🚠 Cable remains below moving averages and Fibonacci levels.
• 🤩 Euro Sterling indicates a key reversal down within a range.
• 😀 Dollar-Yen displays bullish patterns but faces resistances.
• 💁 Aussie Dollar forms a bearish harami pattern near resistance levels.
• 🤩 Watch out for possible key reversal days in the market.
• 📈 Technical analysis points to potential bearish trends across forex charts.

Questions & Answers

Q: What patterns are observed in the Euro Dollar chart?

The Euro Dollar chart shows a bearish engulfing pattern, indicating possible downward movement towards 2018 lows. Yesterday's close was the lowest since November.

Q: How is Cable performing in the forex market?

The Cable chart reflects a bearish closing, still below key Fibonacci levels and moving averages. It is struggling to break out of the current range.

Q: What trends are noticeable in the Dollar-Yen chart?

Dollar-Yen displays bullish white soldier patterns, signaling a breakout from the recent range. However, it faces overhead resistance levels which may impact further movement.

Q: What is the outlook for the Aussie Dollar against the US Dollar?

The Aussie Dollar chart presents a bearish harami pattern, suggesting a potential reversal. It struggles near medium moving average resistance and upper pitchfork levels.

Summary & Key Takeaways

• Euro Dollar shows a bearish engulfing pattern, possibly testing lows from 2018.

• Cable indicates a bearish closing, still below key Fibonacci levels.

• Euro Sterling maintains a range but closed with a key reversal down.

• Dollar-Yen displays bullish patterns, near overhead resistances.

• Aussie Dollar forms a bearish harami, facing resistance levels.