FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

Daily Technical Strategist On GBPUSD

GBPUSD: Eyes Further Upside On Recovery

GBPUSD: With GBP closing higher on Monday, further upside is envisaged. While holding above its year – to-date-low at 1.5589 level, recovery risk remains. On the downside, support lies at the 1.5600 level where a break will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5400 level. Its weekly RSI is bearish and pointing lower supporting this view. Resistance resides at the 1.6050 level with a break aiming at the 1.6100 level. A violation will aim at the 1.6150 level and possibly higher towards the 1.6200 level. On the whole, GBP continues to retain its broader downside bias medium term

 

[FXTechstrategy Team]

EURUSD: Eyes Builds Up Recovery Tone

EURUSD: With EUR continuing to eye further upside, price extension is likely in the days ahead. On the upside, resistance lies at the 1.2550 level where a break will aim at the 1.2550 level, its psycho level followed by the 1.2600 level. Further out, resistance comes in at the 1.2650 level. On the downside, support comes in at 1.2400 level where a break will aim at the 1.2350 level. Further down, support comes in at the 1.2300 level where a break will expose the 1.2250 level. Below here will pave the way for a move lower towards the 1.2200 level All in all, EUR remains biased to the downside in the medium term.

 

[FXTechstrategy Team]

Daily Technical Strategist On EURJPY

EURJPY: Corrective Pullback Risk Remains Intact.

EURJPY- Despite its two days of price hesitation, our bias on the cross remains lower on correction. On the downside, support comes in at the 146.00 level where a break will aim at the 145.00 level. A break will target the 144.00 level with a breach turning focus to the 143.00 level. On the upside, resistance resides at the 148.00 level where a break if seen will threaten further upside towards the 149.00. Further out, resistance resides at the 150.00 level where a break will aim at the 151.00 All in all, the cross faces corrective downside pressure.

 

[sunset1]

What are your percentage results

 

[FXTechstrategy Team]

Thanks. You can go to our website check for trade performance under features.

 

[sunset1]

Thanks. You can go to our website check for trade performance under features.

What is the website address :?:

 

[FXTechstrategy Team]

Hi,

Its FXTechstrategy.com under features

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPJPY

GBPJPY: Sees Price Hesitation

GBPJPY – The cross may continue to maintain its broader uptrend medium term but faces corrective pullback risk. On the upside, resistance lies at the 186.00 level followed by the 187.00 level where a break will aim at the 188.00 level. A cut through here will aim at the 188.50 level. On the downside, support comes in at the 183.00 level where a violation will aim at the 182.00 level. A break below here will target the 181.00 level followed by the 180.00 level. Further down, support lies at the 179.50 level. All in all, the cross remains biased to the upside medium term.

 

[tomorton]

New to Forex and this pair. In a way I hope the levels overhead are "just" resistance - it looks to me like the alternatove is worse - we could be returing to potential congestion zones centred on 188 and 200 - looking back to 2002-2005.

These played out many years ago now so are they really going to be significant now? 200 is an important century figure. But as a trend-follower I'd rather have a short sharp fight with a resistance level than a prolonged period of trendless range trading.

How likely is it this chart might enter a multi-month ranging market?

 

[FXTechstrategy Team]

The Week Ahead On USDCHF

USDCHF: Vulnerable, Eyes Further Downside

USDCHF: With the pair closing lower and continuing to hold below the 0.9741 level, further decline is envisaged in the new week. On the downside, support lies at the 0.9600 level with a break targeting the 0.9550 level and then the 0.9500 level. Further down, support comes in at the 0.9450 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9700 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction.

 

[FXTechstrategy Team]

Commodity Technical Outlook On GOLD

GOLD: Looks To Extend Weakness

GOLD: With a sell off occurring on GOLD the past week, further bearishness is now envisaged. If this occurs, a recovery higher could occur toward the 1,150.00 level. On the downside, support stands at the 1,130.00 level where a break will aim at the 1,100.00 level. Below here if seen could trigger further downside towards the 1,080.00 level where a break will aim at the 1,050.00 level. On the upside, resistance lies at the 1,207.00 level where a break will aim at the 1,230.00 level. A break will target the 1,250.00 level followed by the 1,280.00 level. A cut through here will extend gains towards the 1,300.00 level. All in all, GOLD remains biased to the downside in the medium term.

 

[FXTechstrategy Team]

Special Focus On GBPUSD

GBPUSD: Triggers Recovery Higher

GBPUSD: Although GBP maintains is broader medium term downtrend, the reversal of its Friday losses on Monday is suggestive of further recovery higher. On the downside, support lies at the 1.5650 level where a break will aim at the 1.5600 level where a break will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5400 level. Conversely, resistance resides at the 1.5800 level with a break aiming at the 1.5850 level. A violation will aim at the 1.5900 level and possibly higher towards the 1.5950 level. On the whole, GBP continues to retain its broader downside bias medium term but faces immediate recovery higher.

 

[FXTechstrategy Team]

Currency Focus On GBPJPY

GBPJPY: Bullish, Faces Upside Risk

GBPJPY: With the cross remaining biased to the upside, further strength is envisaged. On the upside, resistance lies at the 187.00 level followed by the 188.00 level where a break will aim at the 189.00 level. A cut through here will aim at the 190.50 level. On the downside, support comes in at the 185.50 level where a violation will aim at the 184.50 level. A break below here will target the 183.50 level followed by the 182.00 level. Further down, support lies at the 181.50 level. All in all, the cross remains biased to the upside medium term

 

[FXTechstrategy Team]

Daily Technical Strategist On EURJPY

EURJPY: Weakens On Correction

EURJPY- With the cross declining on Tuesday on corrective pullback, further bearishness is now envisaged. On the downside, support comes in at the 146.50 level where a break will aim at the 145.00 level. A break will target the 144.00 level with a breach turning focus to the 143.00 level. On the upside, resistance resides at the 148.00 level where a break if seen will threaten further upside towards the 149.00. Further out, resistance resides at the 150.00 level where a break will aim at the 151.00. All in all, the cross faces corrective downside pressure.

 

[FXTechstrategy Team]

Daily Technical Strategist On USDJPY

USDJPY: Maintains Its Bullishness

USDJPY: Having continued its upside offensive, further strength is envisaged. On the upside, resistance resides at the 120.00 level followed by the 120.50 level where a break will target the 121.00 level. Further out, resistance comes in at the 121.50 level where a violation will aim at the 122.00 level. On the downside, support comes in at the 117.50 level where a break will target the 117.00 level. Below here if seen will aim at the 116.50 level followed by the 116.00 and then the 115.50. On the whole, USDJPY remains exposed to the upside medium term but now faces corrective pullback.

 

[FXTechstrategy Team]

The Week Ahead On USDCHF

USDCHF: Bullish, Resumes Broader Uptrend

USDCHF: With the pair reversing its previous week losses to close higher on Friday, further bullish offensive is envisaged in the new. On the upside, resistance resides at the 0.9850 level where a break will aim at the 0.9900 level. Further out, resistance resides at the 0.9950 level. A breather may occur here and turn the pair lower but if taken out, expect a push towards t5owardss the 1.0000 level. On the downside, support lies at the 0.9700 level with a break targeting the 0.9650 level and then the 0.9600 level. Further down, support comes in at the 0.9550 level. All in all, the pair remains biased to the upside medium term

 

[FXTechstrategy Team]

Weekly Technical Strategist On EURUSD

EURUSD: Threatens Additional Price Declines.

EURUSD: Having taken back its previous week gains at the end of the week, the pair faces the risk of further decline in the new week.However, beware of a corrective recovery threat in the new week. Support is seen at 1.2200 level with a cut through here opening the door for more downside towards the 1.2150 level. Further down, support lies at the 1.2100 level where a break will expose the 1.2050 level. Below here will pave the way for a move lower towards the 1.2000 level. On the upside, resistance lies at the 1.2350 level where a violation will aim at the 1.22400 level where a break will aim at the 1.2450 level, its psycho level followed by the 1.2500 level. Further out, resistance comes in at the 1.2550 level. All in all, EUR remains biased to the downside in the medium term.

 

[FXTechstrategy Team]

Daily Technical Strategist On USDJPY

USDJPY: Declines Further On Correction

USDJPY: Having turned lower on Monday and followed through lower on correction during Tuesday trading session, further decline is envisaged. On the downside, support comes in at the 119.00 level where a break will target the 118.00 level. Below here if seen will aim at the 117.00 level followed by the 116.50 and then the 116.00. On the upside, resistance resides at the 120.50 level followed by the 121.50 level where a break will target the 122.00 level. Further out, resistance comes in at the 122.50 level where a violation will aim at the 123.00 level On the whole, USDJPY remains exposed to the upside.

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPUSD

GBPUSD: Loses Upside Steam

GBPUSD: Unless GBP breaks and holds above its intra day high at 1.5756 level, it faces a return to the downside in the days ahead. On the downside, support lies at the 1.5600 level where a break will aim at the 1.5550 level where a break will aim at the 1.5600 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5450 level. Conversely, resistance resides at the 1.5756 level with a break aiming at the 1.5850 level. A violation will aim at the 1.5800 level and possibly higher towards the 1.5850 level. On the whole, GBP continues to retain its broader downside bias medium term but faces immediate recovery risk.

 

[FXTechstrategy Team]

Daily Technical Strategist On USDCAD

USDCAD: Bullish, Risk Points Higher

USDCAD: With continued upside offensive seen, further bullishness is envisaged. On the upside, resistance is seen at the 1.1600 level followed by the 1.1650 level. Further out, resistance comes in at the 1.1700 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1750 level. On the downside, support lies at the 1.1450 level followed by the 1.1400 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1350 level and then the 1.1300 level. All in all, USDCAD continues to face corrective pullback threats.