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Greetings again, Everyone!
We see EuroZone Equity Futures Builds bidding a bit lower coming out of the rather “Neutral to Positive” Asian-Pacific Sectors. The CAC40, FTSE, and The DAX are down slightly, as The Euro looks to Dollar Weakness within Its Correlating Relationship with Its own Equity Desks.
( EZ Markets now open…with Equities largely bidding a bit higher… )
We keep an eye out later concerning Macro-Data Points for the U.S. CPI to help to Maintain or Reject Dollar Sentiment moving throughout the Day, but in the Interim, The Euro Appreciation rides on the back of the Macro-Daily Head and Shoulders Formation… which looks to the “Neckline” Area of 1.3800 Figure Daily Static Support.
Here is The Daily and The Hourly View as we begin The European Session, so give The Captures a Click for various Levels of Reference, with Commentary above as always.
Post-Time is 7:20 GMT.
Here is a Clear View of The Daily with Long-Term Trendlines of Focus, and The Head and Shoulders Formation with Neckline Areas easily delineated.
The Hourly View gives more Clarity, as Price is “Anchored” by Its Uptrend Channel and looks to the Daily May 18th Upleg 50% Fib Variant for Dynamic Support in The Immediate-Term. A Breach here sees the 1.3850’s Support probably Cleared, as Price looks for Downside Contact with the 1.3800 Daily H&S Neckline Support.
Bullish Build will find the Area Attractive, as Price then looks to Clear the 1.3930’s Dynamic Resistance in The Near-Term.
Please feel free to check the just-published “Currency Majors Technical Perspective” Report going right along with this Post for more Immediate-Term Detail on the Four Major Units, and please join me as always, for more Blog Updates to come as we move along!
I hope to see all of You soon!
