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FXTechstrategyT

Daily Technical Strategy On Currencies & Commodities

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EURUSD: Retains Its Bearishness, Aims At 1.14001.1393 Region

EURUSD: The pair saw further weakness on Tuesday with eyes its support located at 1.1393 level. Further down, support lies at the 1.1350 level where a violation will aim at the 1.1300 level. A break of here will aim at the 1.1250 level. Below here will open the door for more weakness towards the 1.1200. Its daily RSI is bearish and pointing lower suggesting more decline. On the upside, resistance comes in at 1.1550 level with a break through there opening the door for more upside towards the 1.1600 level. Further up, resistance lies at the 1.1650 level where a break will expose the 1.1700 level. All in all, EURUSD faces further downside pressure on sell off.
 

EURUSDDaily-1.png

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USDCHF: Eyes Further Bullish Recovery Higher Towards 0.9787/99 Area

USDCHF: The pair looks to recover higher having rallied on Tuesday. 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 0.9750 level where a break will clear the way for more strength to occur towards the 0.9800 level. Further out, resistance comes in at the 0.9850 level. Above here if seen will turn attention to 0.9950. Its daily RSI is bullish and pointing higher suggesting further upside. All in all, USDCHF faces further corrective upside pressure.

USDCHFDaily.png

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AUDUSD: Backs Off Lower Prices, Sets Up For More Strength

AUDUSD. The pair backed off lower prices to close higher on Wednesday. Support resides at the 0.7150 level where a breach will aim at the 0.7100 level. Below that level will set the stage for a run at the 0.7050 level with a cut through here targeting further downside pressure towards the 0.7000 level. On the upside, resistance lies at the 0.7250 level. A cut through here will turn attention to the 0.7300 level and then the 0.7350 level where a violation will set the stage for a retarget of the 0.7400 level. On the whole, AUDUSD faces further upside threats.

AUDUSDDaily.png

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GBPJPY: Eyes Further Weakness. Targets 144.96 Zone

GBPJPY: The cross recovered higher on Wednesday opening the door for more strength. On the downside, support comes in at the 143.50 level where a violation will aim at the 143.00 level. A break below here will target the 142.50 level followed by the 142.00 level. Conversely, resistance is seen at the 143.50 level followed by the 144.00 level. A cut through that level will set the stage for a move further higher towards the 144.50 level. Further out, resistance resides at the 145.00 level. All in all, GBPJPY faces further upside pressure on correction.

 

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USDCAD: Triggers Correction With Eyes 1.3100 Psycho Level

USDCAD: The pair looks to weaken further after triggering a correction on Thursday. Support stands at the 1.3100 level where a break will aim at the 1.3050 level. Further down, support comes in at the 1.3000 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.2950 level. Conversely, resistance lies at the 1.3200 level where a violation will target the 1.3250 level. Further up, resistance resides at the 1.3300 level and then the 1.3350 level. All in all, USDCAD looks to weaken further on pullback.

USDCADDaily.png

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USDCHF: Sees Price Hesitation With Caution Of Recovery

USDCHF: The pair looks to hesitate further but correct higher in the new week. 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 price consolidation but recovery risk.

USDCHFWeekly.png

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EURUSD: Eyes Further Weakness Towards The 1.1529/00 Zone

EURUSD: The pair looks to follow through lower following its past week  losses. On the upside, resistance comes in at 1.1600 level with a break through there opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1500 level where a violation will aim at the 1.1450 level. A break of here will aim at the 1.1400 level. Below here will open the door for more weakness towards the 1.1350. All in all, EURUSD faces further downside pressure as we look for more bear pressure.

EURUSDDaily-2.png

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GOLD: Remains Vulnerable With Price Extension Risk

GOLD: The commodity remains weak and vulnerable leaving risk lower. On the downside, support comes in at the 1,190.00 level where a break will turn attention to the 1,180.00 level. Further down, a cut through here will open the door for a move lower towards the 1,170.00 level. Below here if seen could trigger further downside pressure targeting the 1,160.00 level. Conversely, resistance resides at the 1,200.00 level where a break will aim at the 1,210.00 level. A turn above there will expose the 1,220.00 level. Further out, resistance stands at the 1,230.00 level. All in all, GOLD looks to weaken further on price extension.
XAUUSDDaily-1.png

 

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USDJPY: Faces Further Recovery Pressure Towards 111.74/82 Levels

USDJPY: The pair still faces further price recovery threats following its Friday higher close. On the downside, support lies at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level. On the upside, resistance resides at the 111.50 level. Further out, we envisage a possible move towards the 112.00 level. Further out, resistance resides at the 112.50 level with a turn above here aiming at the 113.00 level. On the whole, USDJPY faces further upside pressure on correction.

USDJPYDaily-1.png

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GBPUSD: Backs Off Higher Prices On Price Failure

GBPUSD: The pair backed off higher prices after failing to follow through on the back of its Monday gain on Tuesday. This development has turned the immediate risk lower. On the downside, support lies at the 1.2850 level where a break will turn attention to the 1.2800 level. Further down, support lies at the 1.2750 level. Below here will set the stage for more weakness towards the 1.2700 l0evel. Conversely, resistance stands at the 1.3050 with a turn above here allowing for more strength to build up towards the 1.3100 level. Further out, resistance resides at the 1.3150 level followed by the 1.3200 level. On the whole, GBPUSD faces pullback risk on price failure

GBPUSDDaily.png

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EURUSD: Recovers Higher, Eyes Key Resistance Zone

EURUSD: The pair now faces further corrective higher as it looks to extend strength. On the upside, resistance comes in at 1.1650 level with a break through there opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 level. Conversely, support lies at the 5level where a violation will aim at the 1.1400 level. A break of here will aim at the 1.1350 level. Below here will open the door for more weakness towards the 1.1300. All in all, EURUSD still faces further downside pressure though hesitating.
 

EURUSDDaily-3.png

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USDJPY: Retains Bullish Tone With Eyes On 112.14/50 Zone 

USDJPY: The pair continues to retain its upside pressure following a rally on Thursday. This development leaves risks of more recovery towards 112.14/50 levels. Further up, resistance resides at the 113.00 level. A move above here will open the door for more gain towards the 113.50 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 111.50 level where a break if seen will aim at the 111.00 level. A cut through here will turn focus to the 110.50 level and possibly lower towards the 110.00 level. On the whole, USDJPY faces further upside pressure.
 

USDJPYDaily-2.png

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USDCHF: Vulnerable, Retains Its Bearishness

USDCHF: The pair looks to move further lower as it continues to hold on to its downside pressure. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 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 price weakness.

 

USDCHFWeekly-1.png

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EURUSD: Outlook Remains Lower With Eyes On Key Support

EURUSD: The pair may have closed higher the past week but could see a move lower following its price reversal on Friday (see daily chart). On the downside, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. Conversely, resistance comes in at 1.1650 level with a break through there opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 level. All in all, EURUSD may have closed higher but faces pullback threats.

EURUSDWeekly-1.png

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EURJPY: Sets Up To Resume Uptrend On Price Reversal

EURJPY: With the pair seeing taking back its Friday losses during Monday trading session, a resumption of its short term uptrend is now likely. Support comes in at the 130.50 level where a break if seen will aim at the 130.00 level. A cut through here will turn focus to the 129.50 level and possibly lower towards the 129.00 level. On the upside, resistance resides at the 131.00 level. Further out, we envisage a possible move towards the 131.50 level. Further out, resistance resides at the 132.00 level with a turn above here aiming at the 132.50 level. On the whole, EURJPY continues to face further upside pressure with trend resumption on the cards.
 

EURJPY.jpg

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USDJPY: Resumes Uptrend, Eyes The 112.61 Resistance Zone

USDJPY: The pair now faces further bull pressure after resuming its short term uptrend during Tuesday trading today. On the downside, support lies at the 112.00 level where a break if seen will aim at the 111.50 level. A cut through here will turn focus to the 111.00 level and possibly lower towards the 110.50 level. On the upside, resistance resides at the 112.50 level. Further out, we envisage a possible move towards the 113.00 level. Further out, resistance resides at the 113.50 level with a turn above here aiming at the 114.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, USDJPY faces further upside pressure short term
 

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USDCHF: Extends Price Recovery With Risk Toward 0.9719

USDCHF: The pair remains biased upside on price recovery. This is coming on the back of its second day of strength. 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 0.9719 level where a break will clear the way for more strength to occur towards the 0.9758 level. Further out, resistance comes in at the 0.9800 level. Above here will open the door for more strength towards 0.9850. All in all, USDCHF faces further price recovery.

USDCHFDaily-1.png

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USDCHF: Extends Price Recovery With Risk Toward 0.9719

USDCHF: The pair remains biased upside on price recovery. This is coming on the back of its second day of strength. 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 0.9719 level where a break will clear the way for more strength to occur towards the 0.9758 level. Further out, resistance comes in at the 0.9800 level. Above here will open the door for more strength towards 0.9850. All in all, USDCHF faces further price recovery.

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EURUSD: Breaks Above Key Resistance, Targets 1.1790/99 Region

EURUSD: The pair saw a strong price rally on Thursday opening the door for more gain in the days ahead. On the upside, resistance comes in at 1.1790/1.1800 levels with a break through here opening the door for more upside pressure towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Its daily RSI is bullish and pointing higher suggesting further pressure. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD continues to face further upside pressure.

 

EURUSDDaily-5.png

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GBPJPY: Bullish, Set To Close In On The 150.00 Area

GBPJPY: The cross rallied strongly on Thursday opening the door for more price gain in the days ahead. On the downside, support comes in at the 149.00 level where a violation will aim at the 148.50 level. A break below here will target the 148.00 level followed by the 147.50 level. Conversely, resistance is seen at the 149.50 level followed by the 150.00 level. A cut through that level will set the stage for a move further higher towards the 150.50 level. Further out, resistance resides at the 151.50 level. Its daily RSI is pointing higher suggesting further upside pressure. All in all, GBPJPY faces further upside pressure.

GBPJPYDaily-1.png

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NZDUSD: Retains Recovery Threats, Eyes The 0.6726 Zone

NZDUSD: With the pair still retaining its upside pressure on correction, more strength is envisaged in the new week. Support lies at the 0.6650 level. Further  down, the 0.6600 level comes in as the next  downside target. Conversely, resistance resides at the 0.6750 level where a break will aim at the  0.6800 level. A break of here will have to occur to create scope for a run at the 0.6850  level. Further  out, resistance stands at the 0.6900 level. Its daily RSI is bullish and pointing higher suggesting further recovery higher.  All in all,  NZDUSD faces further upside pressure.

NZDUSDWeekly.png

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EURUSD: Bullish In The Short But With Risk Of Pullback

EURUSD: The pair still faces further upside pressure following its rally on Thursday. On the upside, resistance comes in at 1.1800 level with a break through there opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Its weekly RSI is bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD still faces further upside pressure though with caution.

EURUSDWeekly-2.png

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AUDUSD: Vulnerable, Sets Up To Weaken Further Towards 0.7028/01 Zone
 
AUDUSD. The With the pair backing off higher prices to close lower on Tuesday, more downside pressure is likely in the days ahead. Support resides at the 0.7200 level where a breach will aim at the 0.7150 level. Below that level will set the stage for a run at the 0.7100 level with a cut through here targeting further downside pressure towards the 0.7050 level. Its daily RSI is turning lower suggesting further weakness. On the upside, resistance lies at the 1.7300 level. A cut through here will turn attention to the 0.7350 level and then the 0.7400 level where a violation will set the stage for a retarget of the 0.7450 level. On the whole, AUDUSD faces further downside threats.
 
 
AUDUSD%20NEW%20222.png
 

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USDJPY: Bullish, Closes In On The 113.16 Resistance Zone

USDJPY: The pair remains biased to the upside as it looks to recover further higher with eyes its key resistance located at 113.16 level. Above here, resistance resides at the 113.50 level. Further out, we envisage a possible move towards the 114.00 level. Further out, resistance resides at the 114.50 level with a turn above here aiming at the 115.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 112.50 level where a break if seen will aim at the 112.00 level. A cut through here will turn focus to the 111.50 level and possibly lower towards the 111.00 level. On the whole, USDJPY faces further upside pressure.

USDJPYDaily-5.png

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NZDUSD: Remains Weak And Vulnerable To The Downside

NZDUSD remains weak and vulnerable to the downside as it retains its broader bear pressure. This leaves more weakness is likely in the days ahead. Support lies at the 0.6600 level. Further down, the 0.6550 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting further weakness.  Conversely, resistance resides at the 0.6650 level where a break will aim at the 0.6700 level. A break of here will have to occur to create scope for a run at the 0.6750 level. Further out, resistance stands at the 0.6800 level. All in all, NZDUSD faces further downside pressure.

NZDUSDDaily.png

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