FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

AUDUSD: Weakens, Eyes The 0.9700 level and Below.

AUDUSD: Having continued to weaken, the risk is for more decline to occur towards the 0.9700 level. Further downside, the 0.9600 level comes in as the next downside followed by the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, AUDUSD will have to return above the 1.0114 level to halt its present downside and then turn attention to the 1.0200 level. Further out, resistance comes in at the 1.0300 followed by the 1.0357/84 levels. All in all, the pair remains biased to the downside medium term.

 

[FXTechstrategy Team]

USDCHF: Bullish, Sets To Extend Upside Offensive.

USDCHF – With further bullish offensive seen the past week, USDCHF looks to extend its strength in the new week. This development leaves the pair aiming at further strength towards the 0.9600 level. Further out, resistance resides at the 0.9800 level, its psycho level where a violation will aim at the 0.9850 level. Further out, resistance resides at the 0.9900 level with a turn above here exposing the 0.9970 level. Its weekly RSI is bullish and pointing higher suggesting further upside. On the downside, support lies at the 0.9520 level followed by the 0.9400 level where a breach will target the 0.9331 level and then the 0.9205 level. Further down, support stands at the 0.9150 level. On the whole, the pair has triggered its broader upside following its continued bullish offensive.

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

The bullish head and shoulder on UsdChf has been formalized, few doubts about the long strategy...

 

[FXTechstrategy Team]

EURUSD: All Eyes On The 1.2750 Level And Below.

EURUSD: Having sold off for a second-week in a row, there is risk of further declines as we enter a new week . Support lies at the 1.2800 level and next the 1.2750/35 levels, its key support levels. Further down, support comes in at the 1.2600 level. Its weekly RSI is bearish and pointing lower supporting this view. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1.3050 level where a violation if seen will aim at the 1.3150 level. Further out, resistance resides at the 1.3242 level. A cut through here will resume its medium term uptrend and call for a run at the 1.3300 level. A clearance of this level will pave the way for a run at the 1.3350 level. All in all, EUR continues to retain its medium term downside bias.

 

[stephen2003]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

when is the usdchf expected to start rising ?.

The bullish head and shoulder on UsdChf has been formalized, few doubts about the long strategy...

 

[FXTechstrategy Team]

GBPJPY: Bullish, Broader Bias Remains Higher

GBPJPY – With GBPJPY continuing to hold on to its broader upside, we look for it to strengthen further in the days ahead. This will leave it targeting the 157.00 level where a violation will aim at the 159.00 level and then the 163.05 level. Its daily RSI is bullish and pointing higher supporting this view. O the downside, in case of any pullback, the 150.54 level will be targeted where reversal of roles as support may occur. Further down, support comes I at the 149.94 level. All in all, the cross remains biased to the upside.

 

[stephen2003]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

yes but how long are we talking ?.

when is the usdchf expected to start rising ?.

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

Excellent technical condition for GbpUsd. Three waves of Wolfe completed and 61.8% of retracement of the bull market started in March touched 1.5128. Long on Cable now!

 

[neil]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

Excellent technical condition for GbpUsd. Three waves of Wolfe completed and 61.8% of retracement of the bull market started in March touched 1.5128. Long on Cable now!

This is an exact copy of a post over at:
Eurusd/gbpusd - Page 1266

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[stephen2003]

Re: GBPJPY: Bullish, Broader Bias Remains Higher

nothing happening at the moment.

GBPJPY – With GBPJPY continuing to hold on to its broader upside, we look for it to strengthen further in the days ahead. This will leave it targeting the 157.00 level where a violation will aim at the 159.00 level and then the 163.05 level. Its daily RSI is bullish and pointing higher supporting this view. O the downside, in case of any pullback, the 150.54 level will be targeted where reversal of roles as support may occur. Further down, support comes I at the 149.94 level. All in all, the cross remains biased to the upside.

 

[FXTechstrategy Team]

AUDUSD: Bearish, Weakens.

AUDUSD: With AUDUSD seen reversing its recovery attempts on Thursday, there is risk of further downside. Support comes in at the 0.9592 level where a break will target the 0.9500 level. Other supports are located at the 0.9450 level and the 0.9400 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, immediate resistance resides at the 0.9700 level followed by the 0.9800 level and then the 0.9851 level. Further out, resistance resides at the 0.9900. All in all, the pair remains biased to the downside medium term.

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

78.6% of retracement completed for GbpUsd. Here I think we can try the long.

 

[FXTechstrategy Team]

USDCHF: Loses Bullish Steam, Vulnerable

USDCHF – Having backed off higher prices to close lower the past week, there is risk of further declines in the new week. Despite this it continues to hold on to its broader upside bias suggesting the mentioned weakness is corrective. On ending it USDCHF should eventually return to the 0.9838 level, its May 2013 high where a violation will aim at the 0.9850 level. Further out, resistance resides at the 0.9900 level with a turn above here exposing the 0.9970 level. On the downside, support comes in at the 0.9576 level followed by the 0.9400 level where a breach if seen will target the 0.9331 level and then the 0.9205 level. Further down, support stands at the 0.9150 level. On the whole, the pair continues to hold on to its broader upside bias despite pull back risk.

 

[FXTechstrategy Team]

EURUSD: Recovering With Caution

EURUSD: The pair pulled back the past week but continues to hold on to its broader downside bias triggered from the 1.3710 level. It should retarget the 1.2800 level on ending its recovery attempts. Further down, support comes in at the 1.2750/35 levels, its key support levels followed by the 1.2600 level. On the upside, resistance resides at the 1.3050 level where a violation if seen will aim at the 1.3150 level. Further out, resistance is seen at the 1.3242 level. A cut through here will resume its medium term uptrend and call for a run at the 1.3300 level. A clearance of this level will pave the way for a run at the 1.3350 level. All in all, EUR continues to retain its medium term downside bias despite recovery attempts.

 

[elisab]

Re: EURUSD: Recovering With Caution

EURUSD: The pair pulled back the past week but continues to hold on to its broader downside bias triggered from the 1.3710 level. It should retarget the 1.2800 level on ending its recovery attempts. Further down, support comes in at the 1.2750/35 levels, its key support levels followed by the 1.2600 level. On the upside, resistance resides at the 1.3050 level where a violation if seen will aim at the 1.3150 level. Further out, resistance is seen at the 1.3242 level. A cut through here will resume its medium term uptrend and call for a run at the 1.3300 level. A clearance of this level will pave the way for a run at the 1.3350 level. All in all, EUR continues to retain its medium term downside bias despite recovery attempts.

Oscillators are too oversold to facilitate an attack to the neck line. I believe that we will see a trading range 1.2770-1.32 until the first week of June.

 

[FXTechstrategy Team]

USDCAD: Broader Risk Continues To Point Higher.

USDCAD: With a third week of bullishness occurring the past week, the risk of an eventual return to the 1.0392 level is expected on ending its consolidation. A break and hold above here will create scope for a run at the 1.0450 level. Further out, resistance resides at the 1.0500 level where a breach will pave the way for a run at the 1.0550. Its daily and weekly RSI has turned higher suggesting further upside. Conversely on any pull back, support lies at the 1.0300 level initially with a cut through here setting the stage for a run at the 1.0218 level. A reversal of roles as support is likely to occur here and turn it higher. Further down, support comes in at the 1.0129 level with a turn below here aiming at 1.0089 level. All in all, USDCAD remains biased to the u[side medium term and looks to recapture the 1.0392 level.

 

[FXTechstrategy Team]

GBPUSD: Bear Threats Seen

GBPUSD: With the pair halting its recovery, further decline and its downtrend resumption is now envisaged. Support resides at the 1.5013/00 levels. Further down, support comes in at the 1.4950 level where a break will target the 1.4900 level and then the 1.4850 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1.5276 level followed by the 1.5329 level. Further out, resistance comes in at the 1.5410/18 area. On the whole, GBP continues to retain its broader downside bias.

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

The market response on EurJpy suggests that in the next few days we should have a strong Jpy. Short increased below 130.

 

[FXTechstrategy Team]

EURUSD: Reverses Gain, Pressures Upside

EURUSD: While EUR faces a recovery prospect following its current rally and reversal of its Tuesday weakness, its broader downside bias is still intact. It will have to follow through higher on the mentioned strength towards the 1.2997 level or it faces the risk of a return to the downside. This could see it push back towards the 1.2837 level where a violation will aim at the 1.2795/35 levels, its key support levels. Below here will push it further lower towards the 1.2650 level and then the 1.2600 level. On the upside, resistance resides at the 1.2997 level where a break will target the 1.3050 level. Bears may come in and turn the pair back down. But if this fails, expect a recapture of the 1.3150 level. Further out, resistance resides at the 1.3242 level. All in all, EUR continues to retain its medium term downside bias despite consolidation

 

[FXTechstrategy Team]

EURJPY: Medium Term Upside Intact Despite Consolidation

EURJPY- We are looking for EURJPY to eventually recapture the 133.81 level on ending its consolidation. This if seen will resume its broader medium term. As long as it holds and trades above its medium term rising trendline presently at the 126.51 level, this view remains valid. A violation of the 133.81 level will target additional upside towards the 104.00 level. Alternatively, on continued weakness, the 130.00 level will be aimed at followed by the 129.00 and then the 128.26 level. All in all, the cross remains biased to the upside in the medium term.