FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

Daily Technical Strategist On EURJPY

EURJPY: Outlook Lower On Correction

EURJPY- We continue to hold our corrective bias view on EURJPY though seen hesitating. On the upside, resistance resides at the 141.88 level followed by the 142.29 level where a break will aim at the 143.78 level. Further out, resistance comes in at the 144.00 level where a violation will turn attention to the 144.50 level and then the 144.00 level. On the downside, support lies at 140.22 level followed by the 139.50 level where a violation will aim at the 139.00 level and then the 138.00 level. All in all, the cross remains broadly biased to the downside though threatening a recovery.

 

[FXTechstrategy Team]

The Week Ahead On USDCHF

USDCHF: Vulnerable, Fails To Build On Strength

USDCHF: The pair remains vulnerable to the downsides after failing to build on its previous week gains at the end of the week. This development now leaves it targeting the 0.8742 level where a break will turn focus to the 0.8700 level. A cut through here will set the stage for a run at the 0.8650 level and subsequently the 0.8600 level. If it violates this level it will resume its medium term downtrend. On the upside, resistance resides at the 0.8900 level. Further out, resistance resides at the 0.8952 level. This level if broken will aim at the 0.8900 level with a close above here aiming at the 0.9000 level and next the 0.9050 level. All in all, the pair remains biased to the downside in the medium term

 

[FXTechstrategy Team]

Weekly Technical Strategist On EURUSD

EURUSD: Still Faces Bear Threats.

EURUSD: Our bias on EUR continues to point lower. This is coming on the back of its failure to break and hold above the 1.3864 level. Support lies at the 1.3779 level where a break will aim at the 1.3737 level followed by the 1.3676 level. Further down, support stands at the 1.3600 level where a violation will target the 1.3550 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, medium term outlook on EUR remains higher but will have to recapture the 1.3966 level to annul its present bear pressure. Further out, resistance resides at the 1.4000 level, its big psycho level. All in all, EUR remains biased to the upside in the long term but faces corrective weakness threats.

 

[FXTechstrategy Team]

Commodity Technical Outlook On GOLD

GOLD: With the commodity closing on a rejection candle the past week, we look for price correction in the new week. On the upside, resistance is seen at the 1,318.30 level where a violation will aim at the 1,331 level. Above here if seen will trigger further gains towards the 1,359.00 level followed by the 1,380.00 level. Further out, resistance comes in at the 1,400.00 level. Its weekly RSI has turned higher supporting this view. Conversely, support comes in at the 1,277.58 level with a turn below here targeting the 1,250.00 level followed by the 1,230.00 level. All in all, GOLD remains biased to the upside in the short term

 

[FXTechstrategy Team]

Special Focus on EURGBP

EURGBP- With the cross halting its decline to close marginally higher the past week, further upside is envisaged in the new week. Having taken back its intra day losses during Monday trading, the risk is for a follow through higher to occur. Resistance lies at the 0.8250 level where a breach will set the stage for a run at the 0.8350 level and then the 0.8400 level. Further out, resistance resides at the 0.8284 level and then the 0.8400 level. On the downside, support comes in at the 0.8200 level where a violation will turn attention to the 0.8157 level. Further downside support comes in at the 0.8100 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, All in all, the cross remains biased to the downside short term.

 

[Sigma-D]

EURGBP- With the cross halting its decline to close marginally higher the past week, further upside is envisaged in the new week. Having taken back its intra day losses during Monday trading, the risk is for a follow through higher to occur. Resistance lies at the 0.8250 level where a breach will set the stage for a run at the 0.8350 level and then the 0.8400 level. Further out, resistance resides at the 0.8284 level and then the 0.8400 level. On the downside, support comes in at the 0.8200 level where a violation will turn attention to the 0.8157 level. Further downside support comes in at the 0.8100 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, All in all, the cross remains biased to the downside short term.

I'm keen to understand what you pros see as the unfolding reality, but having read your post here a number of times, all I get is that you think it will be biased to the upside AND the downside. Which is it and over what period of time?

Listing support and resistance levels is useful, but without a game plan, what's the point?

For intraday traders tomorrow, I'd suggest the 8250 and 8260 represent the best we can expect to the upside, but a breach below 8225 could have it heading to today's low at 8217 or an extension down to 8208 or thereabouts. Prior to today's epiphany regarding the primary determinant being assigned to certainty/probability rather than absolute pips move, I would have discounted this pair, but now, I'm keen to trade full size on these levels I provide here. Cool.

 

[FXTechstrategy Team]

Hi,

Thanks. We do offer a game plan like buy/sell entries, stop losses and price target to our paid subscribers. We cannot post such trade alerts in a forum for every one. What you get is just a part of the analysis. The other part and trade alerts are strictly for paid subscribers.

 

[fxstrategist]

The EURUSD

The EURUSD will most likely have difficulties reaching the 1.3900, but once it does, we could get a good opportunity to go short from that zone.

 

[trademasterNT7]

The EURUSD will most likely have difficulties reaching the 1.3900, but once it does, we could get a good opportunity to go short from that zone.

I like that idea. I'm looking at this deep crab pattern right now. it would go good with your 1.3900 short.

 

[Sigma-D]

Hi,

Thanks. We do offer a game plan like buy/sell entries, stop losses and price target to our paid subscribers. We cannot post such trade alerts in a forum for every one. What you get is just a part of the analysis. The other part and trade alerts are strictly for paid subscribers.

Shouldn't you be registered as a vendor then?

 

[NVP]

Shouldn't you be registered as a vendor then?

hmmmmmmmm

 

[FXTechstrategy Team]

Daily Technical Strategist On USDJPY

USDJPY: Bullish, Extends Recovery

USDJPY: With USDJPY strengthening for a second day in a row today, further bullishness is envisaged. However, it requires a convincing break and hold above the 102.72 level to create scope for more upside. Resistance comes in at the 103.00 level where a breach will turn focus to the 103.50 level. Further out, resistance is seen at the 104.00 level and then the 104.50 level. On the other hand, support stands at the 102.00 level where a break if seen will aim at the 101.50 followed by the 101.00 and then the 100.75 level. Further down, support stands at the 100.00 level followed by the 99.00 level. On the whole, USDJPY remains exposed to the upside on corrective recovery risk.

 

[Sigma-D]

I'm keen to understand what you pros see as the unfolding reality, but having read your post here a number of times, all I get is that you think it will be biased to the upside AND the downside. Which is it and over what period of time?

Listing support and resistance levels is useful, but without a game plan, what's the point?

For intraday traders tomorrow, I'd suggest the 8250 and 8260 represent the best we can expect to the upside, but a breach below 8225 could have it heading to today's low at 8217 or an extension down to 8208 or thereabouts. Prior to today's epiphany regarding the primary determinant being assigned to certainty/probability rather than absolute pips move, I would have discounted this pair, but now, I'm keen to trade full size on these levels I provide here. Cool.

And I completely forgot to look at this pair again today. What a loser.

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPUSD

GBPUSD: Can GBP Break Above The 1.3857/77 Levels?

GBPUSD: Although closing marginally higher on Tuesday and struggling to strengthen further, downside threat remains while holding below the 1.6857/77 levels. The big question is can GBP break and hold above that zone. It is tough to break with poor price action on the upside but if it does break that area expect a run at the 1.6900 level to occur. A violation will target the 1.6950 level and then its big psycho level at the 1.7000 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 1.6762 level where a break will turn focus to the 1.6719 level where a violation will aim at the 1.6683 level. A cut through here if seen will allow further downside towards the 1.6600 level. On the whole, GBP continues to retain its upside bias but faces pullback risks.

 

[FXTechstrategy Team]

USDCHF: Turns Lower, Eyes Further Downside

USDCHF: With USDCHF turning lower on the back of a loss of upside momentum, further downside is likely. It now eyes a return to the 0.8769 level where a break will turn focus to the 0.8750 level. A cut through here will set the stage for a run at the 0.8700 level and subsequently the 0.8650 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 0.8850 level where a violation will aim at the 0.8900 level. Further out, resistance resides at the 0.8952 level. This level if broken will aim at the 0.8900 level with a close above here aiming at the 0.9000 level. All in all, the pair remains biased to the downside in the medium term

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPJPY

GBPJPY – With the cross reversing its Wednesday losses on Thursday to close higher, further upside is now envisaged. In such a case, resistance comes in at the 173.13 level where a break will open the door for additional gains towards the 174.00 level. Further out, resistance stands at the 174.84 level and then the 175.50 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support is located at the 171.93 level where a break will aim at the 170.00 level followed by the 169.49 level. A cut through here if seen will target the 168.63 level and then the 168.00 level. All in all, the cross remains biased to the upside in the long term.

 

[FXTechstrategy Team]

The Week Ahead On USDCHF

USDCHF: Weakens, Targets Further Downside

USDCHF: With USDCHF closing lower the past week and continuing to trade below its falling trendline, it faces further downside bias. On the downside, support lies at the 0.8742 level where a break will turn focus to the 0.8698 level. A cut through here will set the stage for a run at the 0.8650 level and subsequently the 0.8600 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, recovery if triggered will target the 0.8861 level where a break will aim at the 0.8900 level. Further out, resistance comes in at the 0.8952 level. This level if broken will aim at the 0.8900 level with a close above here aiming at the 0.9000 level. All in all, the pair remains biased to the downside in the medium term

 

[FXTechstrategy Team]

Weekly Technical Strategist On EURUSD

EURUSD: Bear Threats Not Yet Over.

EURUSD: Our bias on EUR continues to point lower while holding below the 1.3905 level. Though closing marginally higher the past week, except it returns above the mentioned level, the risk remains lower. Support lies at the 1.3779 level where a break will aim at the 1.3737 level followed by the 1.3676 level. Further down, support stands at the 1.3600 level where a violation will target the 1.3550 level. Conversely, medium term outlook on EUR remains higher but it will have to recapture the 1.3905 level and 1.3966 level to resume that uptrend. Further out, resistance resides at the 1.4000 level, its big psycho level. All in all, EUR remains biased to the upside in the long term but faces corrective weakness threats.

 

[robert11]

gbp aud

http://myforexforums.com/forumdisplay.php/91-Analysis-By-Our-Specialist

On the H4 chart we are observing a wedge pattern and on the other hand the indictor “RSI” is moving downside. In such a condition we are expecting to see a drop upon breaking 1.8150 area below.

 

[FXTechstrategy Team]

Daily Technical Strategist On USDJPY

USDJPY: Declines, Looks To Weaken Further.

USDJPY: With USDJPY following through lower on the back of its Friday losses, it now looks for more downside pressure in the days ahead. Support lies at the 101.50 level where a break if seen will aim at the 101.00 followed by the 100.50 and then the 100.00 level. Further down, support stands at the 99.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 102.77.00 level where a breach will turn focus to the 103.50 level. Further out, resistance is seen at the 104.00 level and then the 104.50 level. On the whole, USDJPY remains exposed to the downside.