Weekly Technical Forecast: Euro Overpowers Dollar, Breaks Struggle for Momentum
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The Dollar has transitioned from a breakout after a 12-month, inverse head-and-shoulders pattern directly into a bearish standard, head-and-shoulders in the matter of a week. Has the bullish wave proved a dud?
The British Pound is broadly trending lower but near-term positioning has become congested, with confirmation needed for an actionable short trade.
The dollar-yen pair offered a significant technical move this week, breaking out of a descending wedge before testing Fibonacci resistance
The recent turnaround in the euro has the downtrend in question, how things play out over the near-term could go a ways towards helping determine whether it’s a bounce or beginning of a rally…
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.