FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

USDCHF: Weakens, Sees Second Week Of Bearishness.

USDCHF – A second week of decline has seen the pair weakening and threatening further downside with eyes on the 0.9303 level. Below here will set the stage for a move lower towards the 0.9200 level where a violation will aim at the 0.9130 level. Bears may come in here and turn USDJPY higher but if this fails to occur, expect further decline towards the 0.9030/00 levels. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to return above the 0.9750 level to annul its present bearishness and then resume its corrective strength. This if seen will target the 0.9838 level, its Jun 2013 high with a cut through here resuming its broader medium term bias and opening the door for a move higher towards the 0.9900 level. On the whole, the pair looks to extend its weakness in the new week.

 

[FXTechstrategy Team]

EURUSD: Pressure Builds On The 1.3415 Level.

EURUSD: With a strong rally pushing the pair higher for a third consecutive week, further strength is expected in the new week. This development has left the pair targeting further upside towards the 1.3415 level with a break resuming its broader upside and turning attention to the 1.3450 level. A cut through here will aim at the 1.3300 level. Its weekly RSI has turned higher supporting this view. Conversely, support lies at the 1.3136 level with a turn below here shifting focus to the 1.3050 level and then the 1.3000 level. All in all, EUR remains biased to the upside.

 

[elisab]

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

The short uptrend of UsdJpy has definitely been lost. Now, target to area 95, hypothetical neck line of a bearish head and shoulder.

 

[FXTechstrategy Team]

EURUSD: Outlook Remains Higher Despite Consolidation

EURUSD: The pair looks to end its price consolidation and eventually return above the 1.3295 level. If this occurs, further strength is expected towards the 1.3350 level. Further out, the 1.3415 level comes in as the next target where a violation will aim at the 1.3450 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 1.3165 level where a violation will aim at the 1.3000 level followed by the 1.2963 level. Below here if seen will target the 1.2800 level and then the 1.2755 level. All in all, EUR continues to retain its corrective upside bias.

 

[FXTechstrategy Team]

AUDUSD: Focus Remains On The 0.8997 Level.

AUDUSD: With continued bearishness seen, the risk is for more weakness towards the 0.9000/0.8997 levels to occur. A breach of here will call for a run at the 0.8900 level and possibly lower towards the 0.8850 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, AUDUSD will have to recapture the 0.9209 level and the 0.9305/44 levels to validate its temporary bottom forming scenario. Further out, resistance comes in at the 0.9400 level and next the 0.9450 level. All in all, the pair remains biased to the downside medium term.

 

[elisab]

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

The fall of UsdJpy is restarting, first target 95.40 (wave C = 0.618 A).

 

[FXTechstrategy Team]

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

EURUSD: A sell off on Thursday has halted EUR’s upside offensive but does not harm its overall broader upside. It should eventually re-take the 1.3344 level on ending its correction. Above here will aim at the 1.3415 level where a violation will turn focus to the 1.3450 level. Conversely, support lies at the 1.3200 level followed by the 1.3165 level where a violation will target the 1.3000 level. Further down, support comes in at the 1.2963 level. All in all, EUR continues to retain its broader upside bias.

 

[elisab]

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

In my opinion, the bearish engulfing pattern of Thursday puts an end to the short term rise of EurUsd.

 

[FXTechstrategy Team]

EURUSD: Continues To Retain Its Broader Upside Tone.

EURUSD: Despite its flat close the past week, EUR remains biased to the upside with eyes on the 1.3415 level. A break through here will set the stage for more upside towards the 1.3500 level with a break resuming its broader upside and turning attention to the 1.3550 level. Its weekly RSI is bullish and pointing higher supporting this view. A cut through here will aim at the 1.3300 level. Its weekly RSI has turned higher supporting this view. Conversely, support lies at the 1.3136 level with a turn below here shifting focus to the 1.3050 level and then the 1.3000 level. All in all, EUR remains biased to the upside.

 

[elisab]

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

Bad news for the Kiwi. The weekly closure of EurNzd is clearly bullish for the coming months.

 

[FXTechstrategy Team]

EURUSD: Continues To Retain Its Broader Upside Tone.

EURUSD: Despite its flat close the past week, EUR remains biased to the upside with eyes on the 1.3415 level. A break through here will set the stage for more upside towards the 1.3500 level with a break resuming its broader upside and turning attention to the 1.3550 level. Its weekly RSI is bullish and pointing higher supporting this view. A cut through here will aim at the 1.3300 level. Its weekly RSI has turned higher supporting this view. Conversely, support lies at the 1.3136 level with a turn below here shifting focus to the 1.3050 level and then the 1.3000 level. All in all, EUR remains biased to the upside.

 

[elisab]

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

The bearish candle of Friday morning has recalled sellers this morning, still short of EurJpy.

 

[FXTechstrategy Team]

GBPUSD: Sets Up To Recapture The 1.5434 Level

GBPUSD: With a two-day rally seeing the pair turning further higher, more upside offensive is likely. This development leaves GBP targeting the 1.5434 level where a breach will resume its short term uptrend. Further out, resistance stands at the 1.5500 level where a violation will aim at the 1.5550 level followed by the 1.5600 level with a turn above here leaving GBP targeting further upside towards the 1.5650 level. Its daily RSI is bullish and pointing higher suggesting further upside offensive. On the downside, support comes in at the 1.5258 level followed by the 1.5101 level. Further down, support is seen at the 1.4900 level. On the whole, GBP looks to recapture the 1.5434 level.

 

[elisab]

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

Will the 200-days moving average be able to push the Dollar Index upward?

 

[FXTechstrategy Team]

EURJPY: Sees Further Bear Threats.

EURJPY- The cross has turned lower below its medium term rising trendline suggesting more weakness could follow. Support lies at the 128.50 level where a violation will set the stage for a run at the 128.00 level and then the 127.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, EURJPY will have to return above the 132.74 level to annul its present bear threats. This zone if taken out will turn focus to the 133.81 level followed by the 134.50 level and then the 135.00 level. All in all, the cross remains biased to the upside in the medium term though seen facing corrective pullback on price failure.

 

[elisab]

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

According to the Ichimoku cloud, we should enter long on EurJpy here:

 

[elisab]

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

No supports for UsdJpy until area 94…at that point, return long on the Nikkei too.

 

[FXTechstrategy Team]

EURUSD: Bullish, Resumes Upside Offensive

EURUSD: With the pair resuming its medium term uptrend, further bullishness is likely in the days ahead. This development leaves EUR targeting more upside towards the 1.3415 level where a violation will turn focus to the 1.3450 level. Further out, the 1.300 level comes in as the next upside objective. Its daily RSI is bullish and pointing higher suggesting further bullishness. Conversely, support lies at the 1.3344 level where a reversal of roles as support is expected. Further down, support lies at the 1.3200 level followed by the 1.3165 level where a violation will target the 1.3000 level. Below here will aim at the 1.2963 level. All in all, EUR continues to retain its broader upside bias.

 

[FXTechstrategy Team]

AUDUSD: Remains On Corrective Recovery Offensive.

AUDUSD: With a fifth day of upside correction underway, further strength is now envisaged. This leaves AUDUSD targeting the 0.9209 level where a break will aim at the 0.9250 level and then the 0.9317 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to this analysis will be a return to the 0.8847 level, a tough call at its present price levels. Below here will resume its broader weakness towards the 0.8800 level. Further down, support lies at the 0.8750 level and then the 0.8700 level. All in all, the pair remains biased to the downside long term.

 

[robertofx]

Re: AUDUSD: Remains On Corrective Recovery Offensive.

AUDUSD: With a fifth day of upside correction underway, further strength is now envisaged. This leaves AUDUSD targeting the 0.9209 level where a break will aim at the 0.9250 level and then the 0.9317 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to this analysis will be a return to the 0.8847 level, a tough call at its present price levels. Below here will resume its broader weakness towards the 0.8800 level. Further down, support lies at the 0.8750 level and then the 0.8700 level. All in all, the pair remains biased to the downside long term.

With the current bullish action I am expecting this pair to reach 0.93