FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

GBPUSD: Strengthens, Faces Further Bullishness

GBPUSD: The pair extended its recovery higher on Thursday to open the door for more strength. 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 upside pressure. On the whole, GBPUSD looks to strength further.

 

[FXTechstrategy Team]

EURUSD: Closes Higher, Eyes Further Upside Pressure

EURUSD: The pair extended its upside pressure the past week opening the door for gain in the new week. On the upside, resistance comes in at 1.2050 level with a cut through here opening the door for more upside towards the 1.2100 level. Further up, resistance lies at the 1.2150 level where a break will expose the 1.2200 level. Its weekly RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1950 level where a violation will aim at the 1.1900 level. A break of here will aim at the 1.1850 level. Below here will open the door for more weakness towards the 1.1800. All in all, EURUSD faces further upside pressure

 

[FXTechstrategy Team]

EURUSD: Loses Upside Pressure, Vulnerable

EURUSD: The pair failed to follow through higher on the back of Tuesday gains on Wednesday. This development leaves it weak and vulnerable to the downside. On the upside, resistance comes in at 1.2050 level with a cut through here opening the door for more upside towards the 1.2100 level. Further up, resistance lies at the 1.2150 level where a break will expose the 1.2200 level. Conversely, support lies at the 1.1950 level where a violation will aim at the 1.1900 level. A break of here will aim at the 1.1850 level. Below here will open the door for more weakness towards the 1.1800. All in all, EURUSD faces further downside weakness on price halt.

 

[FXTechstrategy Team]

EURUSD: Loses Upside Pressure, Vulnerable

EURUSD: The pair failed to follow through higher on the back of Tuesday gains on Wednesday. This development leaves it weak and vulnerable to the downside. On the upside, resistance comes in at 1.2050 level with a cut through here opening the door for more upside towards the 1.2100 level. Further up, resistance lies at the 1.2150 level where a break will expose the 1.2200 level. Conversely, support lies at the 1.1950 level where a violation will aim at the 1.1900 level. A break of here will aim at the 1.1850 level. Below here will open the door for more weakness towards the 1.1800. All in all, EURUSD faces further downside weakness on price halt.

 

[FXTechstrategy Team]

GOLD: Rejects Lower Prices, Risk Remains Higher

GOLD: The commodity still faces its broader upside pressure as it saw a rejection of lower prices on Thursday. On the downside, support comes in at the 1,300.00 level where a break will turn attention to the 1,290.00 level. Further down, a cut through here will open the door for a move lower towards the 1,280.00 level. Below here if seen could trigger further downside pressure towards the 1,270.00 level. Conversely, resistance resides at the 1,320.00 level where a break will aim at the 1,330.00 level. A turn above there will expose the 1,340.00 level. Further out, resistance stands at the 1,350.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GOLD looks to strengthen further.

 

[FXTechstrategy Team]

EURUSD: Upside Pressure Risk Remains Intact EURUSD: The pair continues to retain its

EURUSD: The pair continues to retain its upside pressure hesitating on Friday. On the upside, resistance comes in at 1.2050 level with a cut through here opening the door for more upside towards the 1.2100 level. Further up, resistance lies at the 1.2150 level where a break will expose the 1.2200 level. Conversely, support lies at the 1.1950 level where a violation will aim at the 1.1900 level. A break of here will aim at the 1.1850 level. Below here will open the door for more weakness towards the 1.1800. All in all, EURUSD faces further downside weakness on price halt.

 

[FXTechstrategy Team]

EURJPY: Follows Through Lower, Eyes 134.79 Zone

EURJPY: With the pair following through lower to decline further on Monday, more weakness is envisaged towards its key support located at 134.79. On the downside, support comes in at the 134.50 level where a break if seen will aim at the 134.00 level. A cut through here will turn focus to the 133.50 level and possibly lower towards the 133.00 level. On the upside, resistance resides at the 136.00 level. Further out, we envisage a possible move towards the 136.50 level. Further out, resistance resides at the 137.00 level with a turn above here aiming at the 137.50 level. On the whole, EURJPY faces further price weakness.

 

[FXTechstrategy Team]

USDJPY: Risk Remains Lower, Sells Off

USDJPY: The pair closed further lower on sell off on Wednesday. On the downside, support lies at the 111.00 level where a break if seen will aim at the 110.50 level. A cut through here will turn focus to the 110.00 level and possibly lower towards the 109.50 level. On the upside, resistance resides at the 112.00 level. Further out, we envisage a possible move towards the 112.50 level. Further out, resistance resides at the 113.00 level with a turn above here aiming at the 113.50 level. On the whole, USDJPY faces further bearishness.

 

[FXTechstrategy Team]

GBPUSD: Bullish, Resumes Short Term Uptrend

GBPUSD: The pair faces further move higher as it builds up on its Thursday gain. Support lies at the 1.3600 level where a break will turn attention to the 1.3550 level. Further down, support lies at the 1.3500 level. Below here will set the stage for more weakness towards the 1.3450 level. Conversely, resistance stands at the 1.3650 levels with a turn above here allowing more strength to build up towards the 1.3700 level. Further out, resistance resides at the 1.3750 level followed by the 1.3800 level. On the whole, GBPUSD looks to move further higher in the days ahead.

 

[FXTechstrategy Team]

EURUSD: Bullish, Triggers Long Term Uptrend

EURUSD: The pair closed higher the past week triggering the resumption of long term uptrend. On the upside, resistance comes in at 1.2250 level with a cut through here opening the door for more upside towards the 1.2300 level. Further up, resistance lies at the 1.2350 level where a break will expose the 1.2400 level. Conversely, support lies at the 1.2150 level where a violation will aim at the 1.2100 level. A break of here will aim at the 1.2050 level. Below here will open the door for more weakness towards the 1.2000. Its weekly RSI is bullish and pointing higher. All in all, EURUSD faces further upside weakness on further bullishness.

 

[FXTechstrategy Team]

GBPUSD: Bullish, Remains On Upside Offensive

GBPUSD: The pair faces further upside pressure as it was seen building up on its past gain during Monday trading session. Support lies at the 1.3750 level where a break will turn attention to the 1.3700 level. Further down, support lies at the 1.3650 level. Below here will set the stage for more weakness towards the 1.3600 level. Conversely, resistance stands at the 1.3800 levels with a turn above here allowing more strength to build up towards the 1.3850 level. Further out, resistance resides at the 1.3900 level followed by the 1.3950 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD looks to move further higher on bull pressure.

 

[FXTechstrategy Team]

USDJPY: Looks To Weaken Further Lower On Bear Pressure

USDJPY: The pair closed further lower on Monday opening the door for more weakness. This view remains valid despite its present price hesitation. On the downside, support lies at the 110.00 level where a break if seen will aim at the 109.50 level. A cut through here will turn focus to the 109.00 level and possibly lower towards the 108.50 level. On the upside, resistance resides at the 111.00 level. Further out, we envisage a possible move towards the 111.50 level. Further out, resistance resides at the 112.00 level with a turn above here aiming at the 112.50 level. On the whole, USDJPY faces further bearishness.

 

[FXTechstrategy Team]

USDCHF: Backs Off Lower Prices On Correction

USDCHF: The pair halted its broader weakness on Wednesday leaving risk of more correction on the cards. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Above here if seen will turn attention to 0.9850. All in all, USDCHF faces further weakness short term but with caution of a recovery.

 

[FXTechstrategy Team]

EURUSD: Vulnerable, Loses Upside Momentum

EURUSD: The pair backed off higher prices to close on a rejection candle the past week. On the upside, resistance comes in at 1.2250 level with a cut through here opening the door for more upside towards the 1.2300 level. Further up, resistance lies at the 1.2350 level where a break will expose the 1.2400 level. Conversely, support lies at the 1.2200 level where a violation will aim at the 1.2150 level. A break of here will aim at the 1.2100 level. Below here will open the door for more weakness towards the 1.2050. Its daily RSI is bullish and pointing higher. All in all, EURUSD faces further upside move on bullish offensive

 

[FXTechstrategy Team]

CRUDE OIL: Sets Up To Resume Uptrend

CRUDE OIL: The commodity looks to resume its upside pressure. On the downside, support resides at the 63.50 level where a break will expose the 63.00 level. A cut through here will set the stage for a run at the 62.50 level. Further down, support resides at the 62.00 level. On the upside, resistance resides at the 64.50 level. Further out, resistance comes in at the 65.00 level. A break above here will aim at the 65.50 level and then the 66.00 level followed by the 66.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside long term

 

[FXTechstrategy Team]

EURUSD: Caps Upside Pressure, Threatens Pullback

EURUSD: The pair may have closed higher the past week but faces corrective pullback in the new week. On the upside, resistance comes in at 1.2450 level with a cut through here opening the door for more upside towards the 1.2500 level. Further up, resistance lies at the 1.2550 level where a break will expose the 1.2600 level. Conversely, support lies at the 1.2400 level where a violation will aim at the 1.2350 level. A break of here will aim at the 1.2300 level. Below here will open the door for more weakness towards the 1.2250. All in all, EURUSD faces further upside move on bullish offensive but with caution.

 

[FXTechstrategy Team]

EURJPY: Declines On Bear Pressure

EURJPY: The pair now looks to weaken further after it saw a move lower during Monday trading session. On the downside, support comes in at the 134.00 level where a break if seen will aim at the 133.50 level. A cut through here will turn focus to the 133.00 level and possibly lower towards the 132.50 level. On the upside, resistance resides at the 135.00 level. Further out, we envisage a possible move towards the 135.50 level. Further out, resistance resides at the 136.00 level with a turn above here aiming at the 136.50 level. On the whole, EURJPY faces further weakness threats.

 

[FXTechstrategy Team]

GBPUSD: Risk Turns Higher, Eyes 1.4285

GBPUSD: The pair closed higher after taking back all of its intra day losses on Tuesday. This has opened the door for more strength in the days ahead. Support lies at the 1.4100 level where a break will turn attention to the 1.4050 level. Further down, support lies at the 1.4000 level. Below here will set the stage for more weakness towards the 1.3950 level. Conversely, resistance stands at the 1.4200 levels with a turn above here allowing more strength to build up towards the 1.4250 level. Further out, resistance resides at the 1.4300 level followed by the 1.4350 level. On the whole, GBPUSD looks to move further higher with eyes on its key resistance.

 

[FXTechstrategy Team]

AUDUSD: Sells Off, Remains Vulnerable

AUDUSD. The pair looks to weaken further after selling off during Thursday trading session. On the downside, support resides at the 0.7950 level where a breach will aim at the 0.7900 level. Below that level will set the stage for a run at the 0.7850 level with a cut through here targeting further downside pressure towards the 0.7800 level. On the upside, resistance lies at the 0.8050 level. A cut through here will turn attention to the 0.8100 level and then the 0.8150 level where a violation will set the stage for a retarget of the 0.8200 level. On the whole, AUDUSD faces further bear threats.

 

[FXTechstrategy Team]

USDCHF: Halts Weakness, Targets Upside Pressure

USDCHF: With the pair halting its weakness the past week, it faces risk of a move higher in the new week. On the downside, support lies at the 0.9300 level. A turn below here will open the door for more weakness towards the 0.9250 level and then the 0.9200 level. On the upside, resistance resides at the 0.9350 level where a break will clear the way for more strength to occur towards the 0.9400 level. Further out, resistance comes in at the 0.9450 level. Above here if seen will turn attention to 0.9500. All in all, USDCHF faces further weakness medium term but with caution