Global Markets: Asian Stock Markets : Nikkei down 0.78%, Shanghai Composite up 1.74%, Hang Seng up 0.62%, ASX down 1.54% Commodities : Gold at $1811.65 (+0.10%), Silver at $18.74 (+0.23%), Brent Oil at $43.16 (+0.19%), WTI Oil at $40.63 (+0.02%) Rates : US 10-year yield at 0.653, UK 10-year yield at 0.160, Germany 10-year yield … Continue reading Wednesday 8th July: Gloomy outlooks cloud markets
EUR/USD, based on the H4, swung beneath 1.13 to lows at 1.1258, though corrected back to 1.13 and held into the European close. South of 1.13, traders’ crosshairs will likely be fixed on July’s opening level at 1.1235, with a break likely to see price hone in on 1.12.
GBP/USD bulls went on the offensive last week and pencilled in healthy upside. With respect to structure on the weekly timeframe, support resides at 1.2163, a Quasimodo formation
The aftermath of Thursday’s upbeat US employment data and declining unemployment rate witnessed the DXY hook a firm bid. This, following a retest at the underside of 1.13 (sited beneath Quasimodo resistance at 1.1340), directed EUR/USD lower, settling around July’s opening level at 1.1235.
The aftermath of yesterday’s upbeat US employment data and declining unemployment rate witnessed the DXY hook a firm bid. This, following a retest at the underside of 1.13 on the H4, directed EUR/USD lower, settling 30 pips shy of 1.12 heading into the European close.
