Technical Outlook

Bullish outlook above daily cloud exposes 200DMA target

The Euro remains well supported and consolidating above daily cloud after Thursday’s break above the cloud (the first in three months) generated bullish signal. Bulls consolidate within narrow range and prepare for push through 100DMA (1.1137) which capped larger advance on Thursday. Sentiment remains positive and the action underpinned by strong…
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Cable was shaken strongly by news that proved to be false

Cable was riding on a roller-coaster for a few minutes at the beginning of the US session, jumping up and down within 1.2730 / 1.2830 range, with action being sparked by report that DUP has agreed on main points that opened way for final steps towards Brexit deal. However, news proved to be false as the party leader dismissed the statement, but…
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