FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

USDJPY Remains Biased To The Upside On Corrective Recovery.

USDJPY remains biased to upside on corrective as we expect more strength in the days ahead. On the upside, resistance comes in at 109.00 level. Above here will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level if the earlier resistance is taken out. A break of here will open the door for more gain towards the 110.50. Its daily RSI is bearish and pointing higher suggesting further weakness. On the downside, support comes in at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further upside on corrective recovery.

 

[FXTechstrategy Team]

GBPUSD Targets Further Upside Pressure Towards 1.3000/29 Zone

GBPUSD targets further upside pressure towards 1.3000/29 zone. Support is seen at 1.2950 level. Further down, support comes in at the 1.2900 level where a break will turn focus to the 1.2850 level. Further down, support lies at the 1.2800 level. Below here will set the stage for more weakness towards the 1.2750 level. On the upside, resistance stands at the 1.3000 with a turn above here allowing for additional strength to build up towards the 1.3050 level. Further out, resistance stands at the 1.3100 level followed by the 1.3150 level. On the whole, GBPUSD faces further upside pressure.

 

[FXTechstrategy Team]

EURJPY Looks To Recover Further Higher Towards 125.08 Zone

EURJPY looks to recover further higher towards 125.08 zone as it eyes price extension. Support comes in at the 124.50 level where a break if seen will aim at the 124.00 level. A cut through here will turn focus to the 123.50 level and possibly lower towards the 123.00 level. On the upside, resistance resides at the 125.08 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further price recovery towards its key resistance at 125.08 and beyond.

 

[FXTechstrategy Team]

USDCHF Eyes More Strength, Closes Strongly

USDCHF eyes more strength after closing strongly higher the past week. Resistance stands at the 1.0000 level as the next upside target. A break of here will open the door for more gain towards the 1.0050 level. Above here, resistance comes in at the 1.0100 level and then the 1.0150 level. Its weekly RSI is bullish and pointing higher suggesting more strength. On the downside, support is located at the 0.9900 level. A turn below here will set the stage for more weakness towards the 0.9850 level. And then the 0.9800 level. All in all, USDCHF faces further upside pressure on bull pressure.

 

[FXTechstrategy Team]

EURUSD Continues To Retain Downside Pressure Short Term

EURUSD continues to retain downside pressure following its past week losses. Support comes in at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will target the 1.1250 level. Further down, support lies at the 1.1200. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at 1.1450 level with a break through there opening the door for further upside towards the 1.1500 level. Further up, resistance comes in at the 1.1550 level where a violation will expose the 1.1600 level. All in all, EURUSD continues to threaten further downside pressure

 

[FXTechstrategy Team]

AUDUSD Weakens On Further Pullback Threats.

AUDUSD weakens on further pullback threats as it saw price extension during early trading on Tuesday. On the upside, resistance stands at the 1.7200 level. A cut through here will turn attention to the 0.7250 level and then the 0.7300 level. A violation will set the stage for a retarget of the 0.7350 level. Support resides at the 0.7100 level where a breach will aim at the 0.7050 level. Below here will set the stage for a run at the 0.7000 level with a cut through here targeting further downside pressure towards the 0.6950 level. On the whole, AUDUSD faces further downside threats.

 

[FXTechstrategy Team]

USDJPY Eyes The 109.88 Resistance Zone And Beyond

USDJPY eyes the 109.88 resistance zone beyond as it looks to resume its upside pressure. On the upside, resistance comes in at 110.00 level. A turn above here will turn attention to the 110.50 level. Further out, we expect a possible move towards the 111.00 level if the earlier resistance is invalidated out. The next resistance resides at the 111.50. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 109.50 level where a break will target the 109.00 level. Below that level will turn focus to the 108.50 level and then lower the 108.00 level. On the whole, USDJPY faces further upside pressure on corrective recovery.

 

[FXTechstrategy Team]

EURUSD Backs Off Lower Prices With Eyes On 1.1450 Zone

EURUSD backs off lower prices with eyes on 1.1450 zone as it looks to strengthen further. Support comes in at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will target the 1.1250 level. Further down, support lies at the 1.1200. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD continues to threaten further downside pressure

 

[FXTechstrategy Team]

GOLD Continues To Trade Below Key Resistance At 1,298.55

GOLD continues to trade below key resistance at 1,298.55 as it remains in consolidation mode. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,298.55 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,320.00 level. All in all, GOLD looks to move further higher on correction but with caution.

 

[FXTechstrategy Team]

USDCHF Remains Vulnerable Below Key Resistance At 1.0007 Zone

USDCHF remains vulnerable below key resistance at 1.0007 zone. Resistance stands at the 1.0050 level as the next upside target. A break of here will clear the way for more gain towards the 1.0100 level. Above here, resistance comes in at the 1.0150 level and then the 1.0200 level. Its daily RSI is bearish and pointing lower suggesting more weakness. On the downside, support is seen at the 0.9900 level. A turn below there will set the stage for more decline towards the 0.9850 level. And then the 0.9800 level. All in all, USDCHF faces further downside pressure on price pullback.

 

[FXTechstrategy Team]

EURUSD Recovery Threats Remain With Eyes On 1.1489 Zone

EURUSD recovery threats remain with eyes on 1.1489 zone as the pair rallied strongly on Friday to close higher. Support comes in at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will target the 1.1250 level. Further down, support lies at the 1.1200. On the upside, resistance resides at 1.1450 level with a break through there opening the door for further upside towards the 1.1500 level. Further up, resistance comes in at the 1.1550 level where a violation will expose the 1.1600 level. All in all, EURUSD continues to threaten further upside pressure.

 

[FXTechstrategy Team]

USDJPY Continues To Hold Below Key Resistance At 109.99 Level

USDJPY continues to hold below key resistance at 109.99 level as it looks for more weakness in the days ahead. On the upside, resistance comes in at 110.00 level. Above here will turn attention to the 110.50 level. Further out, we expect a possible move towards the 111.00 level if the earlier resistance is taken out. A break of here will open the door for more gain towards the 111.50. On the downside, support comes in at the 109.00 level where a break will target the 108.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 107.50 level. On the whole, USDJPY faces further downside pressure on corrective pullback.

 

[FXTechstrategy Team]

EURGBP Faces Price Recovery Extension Towards 0.8724 Zone

EURGBP faces price recovery extension towards 0.8724 zone. On the downside, support stands at the 0.8650 level where a violation will turn focus to the 0.8600 level. A break below here will aim at the 0.8550 level. Conversely, resistance lies at the 0.8850 level. A violation if seen will turn risk towards the 0.8900 level. Further up, resistance comes in at 0.8950 level followed by the 0.9000 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURGBP remains biased to the upside on further corrective upside pressure

 

[FXTechstrategy Team]

AUDUSD Threatens Further Strength With Eyes On 0.7234 Region

AUDUSD threatens further strength with eyes on 0.7234 zone. On the upside, resistance lies at the 1.7250 level. A cut through here will turn focus to the 0.7300 level and then the 0.7350 level. A violation will set the stage for a retarget of the 0.7400 level. Support resides at the 0.7150 level where a breach will aim at the 0.7100 level. Below here will set the stage for a run at the 0.7050 level with a cut through here targeting further downside pressure towards the 0.7000 level. On the whole, AUDUSD faces further upside threats.

 

[FXTechstrategy Team]

EURUSD Targets Further Upside Pressure On Price Extension

EURUSD targets further upside pressure on price extension as it retains its upside pressure. Support comes in at the 1.1450 where a violation will aim at the 1.1400 level. A break below here will target the 1.1350 level. Further down, support lies at the 1.1300. Its daily RSI is bullish and pointing higher suggesting further strength. On the upside, resistance resides at 1.1550 level with a break through there opening the door for further upside towards the 1.1600 level. Further up, resistance comes in at the 1.1650 level where a violation will expose the 1.1700 level. All in all, EURUSD continues to threaten further upside pressure.

 

[FXTechstrategy Team]

EURUSD Pulls Back Ahead Of Key Resistance

EURUSD pulls back ahead of key resistance at 1.1569 level with risk of more weakness. Support comes in at the 1.1400 where a violation will aim at the 1.1350 level. A break below here will target the 1.1300 level. Further down, support lies at the 1.1250. On the upside, resistance resides at 1.1500 level with a break through there opening the door for further upside towards the 1.1550 level. Further up, resistance comes in at the 1.1600 level where a violation will expose the 1.1650 level. All in all, EURUSD continues to threaten further upside pressure but with caution pf pullback.

 

[FXTechstrategy Team]

USDJPY Looks To Extend Gain Above Key Resistance

USDJPY looks to extend gain above key resistance located at 109.99 zone and beyond. On the upside, resistance comes in at 110.50 level. Above here will turn attention to the 111.00 level. Further out, we expect a possible move towards the 111.50 level if the earlier resistance is taken out. A break of here will open the door for more gain towards the 112.00. On the downside, support comes in at the 109.50 level where a break will target the 109.00 level. Below that level will turn focus to the 108.50 level and then lower towards the 108.00 level. On the whole, USDJPY faces further upside pressure.

 

[FXTechstrategy Team]

GBPJPY Tumbles Lower On Price Reversal

GBPJPY tumbles lower on price reversal with further weakness expected in the days ahead. On the downside, support comes in at the 142.00 level where a violation will aim at the 141.50 level. A break below here will target the 141.00 level followed by the 140.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 142.50 level followed by the 143.00 level. A cut through that level will set the stage for a move further higher towards the 143.50 level. Further out, resistance resides at the 144.00 level. All in all, GBPJPY faces further downside pressure on price sell off.

 

[FXTechstrategy Team]

EURUSD Bear Pressure Remains Intact

EURUSD bear pressure remains intact as it looks for price extension. Support stands at the 1.1350 where a break will aim at the 1.1300 level. A break below here will target the 1.1250 level. Further down, support lies at the 1.1200. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD continues to threaten further downside pressure.

 

[FXTechstrategy Team]

GBPUSD Remains Vulnerable To The Downside On Bear Pressure

GBPUSD remains vulnerable to the downside as more weakness is expected in the days ahead.Support is seen at 1.2900 level. Further down, support comes in at the 1.2850 level where a break will turn focus to the 1.2800 level. Further down, support lies at the 1.2750 level. Below here will set the stage for more weakness towards the 1.2700 level. On the upside, resistance stands at the 1.3000 with a turn above here allowing for additional strength to build up towards the 1.3050 level. Further out, resistance stands at the 1.3100 level followed by the 1.3150 level. On the whole, GBPUSD faces further downside pressure on further weakness.