Shaun Downey’s Technical Analysis Update 20181129

Expert

Knee Jerk Dollar Reaction Not Enough to turn the trend for the Euro (EURUSD Stays Bearish)
Fresh Signals Appear on the Yen

Sell the Weakest, Buy the Strongest: Pound Aussie Continues to make New Lows (GBPAUD Bearish)


Latest News

usdnok
USDNOK and EURNOK mixed short-term outlooks

USDNOK retains a positive short-term tone within a broader, intermediate-term range. EURNOK has a negative short-term bias, also in a neutral, intermediate-term environment. This tells us more about EURUSD than anything else, that the risks for EURUSD are to the downside. USDNOK upside threat A resilient consolidation for much of May, digesting the later April-early … Continued

Dow Jones
US equity averages cling to a positive tone

A consolidation theme has emerged for the major US (and in fact European) equity averages over the past 1-2 weeks, with no significantly new bad news emerging from the ailing US-Sino trade negotiations. This has allowed equity markets to rebound and ease bear forces from the aggressive selloffs seen in the first half of May. … Continued

usdpln
USDPLN breaking out for renewed bullish theme

Another push higher Tuesday and again into Wednesday, reinforcing the previous tentative breakout from the Ascending Triangle pattern above 3.8594 and 3.8644 resistances, leaving both short- and intermediate-term bull themes intact and aiming higher for Wednesday. The intermediate-term outlook is bullish, sustained by 2019 solid consolidation above the 38.2% Fibonacci retracement of the 2018 rally. … Continued

eurgbp
Pound stays weak as PM May’s Brexit proposal falls flat

In our Monday report we highlighted ongoing Sterling weakness as Brexit talks between the Conservative and Labour parties have floundered amid the increasingly unstable position of Prime Minister (PM) Theresa May. The GB Pound did try a recovery on Tuesday (21st May) as PM May tried to bring a new version of her Brexit deal, … Continued


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