EURUSD: Targets The 1.1130 Resistance Zone But With Caution
EURUSD: Having EURUSD closed higher on Wednesday, it could face further upside. This development if seen will aim at its key overhead resistance at 1.1130 zone. On the downside, support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1130 level with a cut through here opening the door for more upside towards the 1.1200 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. All in all, EURUSD remains biased to the upside on correction.
GBPUSD: The pair strengthened further on Wednesday leaving risk on the upside. However, its broader medium term outlook remains lower. On the downside, support lies at the 1.3400 level where a break will turn attention to the 1.3350 level. Further down, support lies at the 1.3300 level. Below here will set the stage for more weakness towards the 1.3250 level. Conversely, resistance stands at the 1.3500 levels with a turn above here allowing more strength to build up towards the 1.3550 level. Further out, resistance resides at the 1.3600 level followed by the 1.3650 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD threatens further upside pressure on correction.
AUDUSD: Recovery Risk Continues To Build Up On 0.7500 Zone
AUDUSD. With the pair remaining biased to the upside, more strength is expected. On the downside, support resides at the 0.7400 level where a breach will aim at the 0.7350 level. Below that level will set the stage for a run at the 0.7300 level with a cut through here targeting further downside pressure towards the 0.7250 level. On the upside, resistance lies at the 0.7500 level. A cut through here will turn attention to the 0.7550 level and then the 0.7600 level where a violation will set the stage for a retarget of the 0.7650 level. On the whole, AUDUSD remains biased to the upside on correction.
USDCHF: With the pair losing upside momentum to close on a rejection candle the past week. This has set the pair up for a move lower in the new week. On the downside, support lies at the 0.9700 level. A turn below here will open the door for more weakness towards the 0.9650 level and then the 0.9600 level. On the upside, resistance resides at the 0.9800 level where a break will clear the way for more strength to occur towards the 0.9850 level. Further out, resistance comes in at the 0.9900 level. All in all, USDCHF remains biased to the downside on more weakness after losing upside steam.
EURUSD Eyes Further Bullishness On Corrective Recovery
EURUSD: Having halted its weakness to close higher the past week, we look for more strength to occur in the new week. Support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level. All in all, EURUSD remains biased to the downside in the short term but looks to recover higher on correction.
GOLD: The commodity continues to face upside pressure leaving risk higher in the new week. On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,220.00 level. Further down, a cut through here will open the door for a move lower towards the 1,310.00 level. Below here if seen could trigger further downside pressure targeting the 1,300.00 level. Conversely, resistance resides at the 1,350.00 level where a break will aim at the 1,360.00 level. A turn above there will expose the 1,370.00 level. Further out, resistance stands at the 1,380.00 level. All in all, GOLD looks to strengthen further.
GBPUSD: Bearish, Retains Downside Bias Medium Term
GBPUSD: The pair continues to hold on to its downside pressure closing lower the past week and leaving risk lower in the medium term. On the downside, support lies at the 1.3200 level where a break will turn attention to the 1.3150 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance stands at the 1.3300 levels with a turn above here allowing more strength to build up towards the 1.3350 level. Further out, resistance resides at the 1.3400 level followed by the 1.3450 level. On the whole, GBPUSD threatens further downside pressure medium term
USDJPY: The pair remains weak and vulnerable to the downside in the medium term. Thus development has left the pair targeting further weakness. On the downside, support comes in at the 102.00 level where a break if seen will aim at the 101.50 level. A cut through here will turn focus to the 101.00 level and possibly lower towards he 100.50 level. On the upside, resistance resides at the 103.00 level. Further out, we envisage a possible move towards the 103.50 level. Further out, resistance resides at the 104.00 level with a turn above here aiming at the 104.50 level. On the whole, USDJPY looks to weaken further in the medium term.
GBPUSD: The pair looks set to resume its broader medium term weakness following its sell-off during Tuesday trading session. On the downside, support lies at the 1.3050 level where a break will turn attention to the 1.3000 level. Further down, support lies at the 1.2950 level. Below here will set the stage for more weakness towards the 1.2900 level. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance stands at the 1.3250 levels with a turn above here allowing more strength to build up towards the 1.3300 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD threatens further downside pressure medium term
GOLD: The commodity continues to target more recovery leaving risk towards the 1,365.00 zone. On the downside, support comes in at the 1,350.00 level where a break will turn attention to the 1,240.00 level. Further down, a cut through here will open the door for a move lower towards the 1,330.00 level. Below here if seen could trigger further downside pressure targeting the 1,320.00 level. Conversely, resistance resides at the 1,370.00 level where a break will aim at the 1,380.00 level. A turn above there will expose the 1,390.00 level. Further out, resistance stands at the 1,400.00 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, GOLD looks to strengthen further.
USDJPY: Looks To Recover Higher With Eyes On 102.00
USDJPY: The pair halted its weakness to print a rejection candle on Wednesday leaving risk of recovery on the cards. While it continues to reject lower level prices, we look for it to head higher on correction. On the downside, support comes in at the 101.00 level where a break if seen will aim at the 100.50 level. A cut through here will turn focus to the 100.00 level and possibly lower towards he 99.50 level. On the upside, resistance resides at the 102.00 level. Further out, we envisage a possible move towards the 102.50 level. Further out, resistance resides at the 103.00 level with a turn above here aiming at the 103.50 level. On the whole, USDJPY looks to weaken further in the medium term.
EURJPY: Having continued to hold on to its downside pressure, more bearishness is envisaged. Support comes in at the 111.00 level where a break will aim at the 110.50 level. A turn below here will target the 110.00 level with a breach turning focus to the 109.50 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance lies at the 112.00 level. Further out, resistance comes in at the 112.50 level where a break if seen will threaten further upside towards the 113.00. Further out, resistance resides at the 113.50 level. All in all, EURJPY remains vulnerable in the medium term.
CRUDE OIL: The commodity continues to face downside pressure weakening on Thursday to open the door for more weakness. On the downside, support resides at the 45.00 level where a break will expose the 44.00 level. A cut through here will set the stage for a run at the 43.00 level. Further down, support resides at the 42.00 level. On the upside, resistance resides at the 46.00 level. Further out, resistance comes in at the 47.00 level. A break above here will aim at the 48.00 level and then the 49.00 level followed by the 50.00 level. All in all, CRUDE OIL remains biased to the downside on correction
EURUSD Threatens Further Weakness Towards 1.0909 Level
EURUSD: With a reversal of its previous week’s gains seen the past week, more decline is envisaged. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside in the medium term.
GOLD: The commodity extended its recovery the past week leaving risk higher in the days ahead. On the downside, support comes in at the 1,355.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,340.00 level. Below here if seen could trigger further downside pressure targeting the 1,330.00 level. Conversely, resistance resides at the 1,370.00 level where a break will aim at the 1,380.00 level. A turn above there will expose the 1,390.00 level. Further out, resistance stands at the 1,400.00 level. Its weekly RSI is bullish and pointing higher suggesting more strength. All in all, GOLD looks to strengthen further in the new week.
GBPUSD: The pair turned higher on Monday leaving risk to the upside on correction in the days ahead. It was seen heading higher during early trading on Yuesday. On the downside, support lies at the 1.3000 level where a break will turn attention to the 1.2950 level. Further down, support lies at the 1.2900 level. Below here will set the stage for more weakness towards the 1.2850 level. Conversely, resistance stands at the 1.3100 levels with a turn above here allowing more strength to build up towards the 1.3150 level. Further out, resistance resides at the 1.3200 level followed by the 1.3250 level. On the whole, GBPUSD threatens further upside pressure on correction.
EURUSD Loses Upside Pressure, Vulnerable To The Downside
EURUSD: With the pair rejecting higher prices to close lower on Tuesday, more weakness is likely. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside in the medium term.
GBPUSD: The pair capped its gains to close lower on Wednesday leaving risk lower. On the downside, support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD threatens further downside pressure in the medium term.
GOLD: The commodity reversed its Wednesday gain to weaken on Thursday leaving risk of more lower towards the 1,312.00 zone on the cards. On the downside, support comes in at the 1,312.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,1280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to weaken further on correction
USDJPY: Having the pair continued to hold on to its upside pressure, further bullishness is likely. On the downside, support comes in at the 105.00 level where a break if seen will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the 103.50 level. On the upside, resistance resides at the 106.00 level. Further out, we envisage a possible move towards the 106.50 level. Further out, resistance resides at the 107.00 level with a turn above here aiming at the 107.50 level. On the whole, USDJPY looks to strengthen further on correction.
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