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FXTechstrategyT

Daily Technical Strategy On Currencies & Commodities

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USDCHF Tumbles Lower On Bearishness
 
USDCHF tumbles lower on bearishness with more weakness expected in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900  level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support resides at the 0.9550 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF targets further weakness in the days ahead.
 
 
USDCHF%20NEW%202034.png
 
 

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EURUSD Looks To Weaken Further Lower Towards 1.1282

EURUSD looks to weaken further lower towards 1.1282. Support comes in at the 1.1350 where a violation will turn risk to the 1.1300 level. A break below here will target the 1.1250 level. Further down, support sits at the 1.1200. Conversely, on the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD expects more weakness on correction. 

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GBPUSD Declines Envisaged Towards 1.2522 Level
 
GBPUSD decline envisaged towards 1.2522 level as we expect more weakness to occur in the days ahead. Support comes in at 1.2500 with a turn below that level shifting focus to the 1.2450 level. Further down, support resides at the 1.2400 level where a break will turn attention to the 1.2350 level. Further down, support lies at the 1.2300 level. On the upside, resistance stands at the 1.2550 with a turn above here allowing for additional strength to build up towards the 1.2600 level. Further out, resistance stands at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD retains its downside pressure short term.
 
 
GBPUSD%202051.png
 
 

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AUDUSD Downside Pressure Remains Towards 0.6850
 
AUDUSD downside pressure remains towards 0.6850 level as we expect more weakness to occur. On the upside, resistance lies at the 1.6950 level. A cut through here will turn attention to the 0.7000 level and then the 0.7150 level where a violation will set the stage for a retarget of the 0.7200 level. Support resides at the 0.6850 level where a breach will aim at the 0.6800 level. Below here will set the stage for a run at the 0.6750 level with a cut through here targeting further downside pressure towards the 0.6700 level. On the whole, AUDUSD faces further downside threats medium term.
 
AUDUSD%202019b.png
 
 

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EURUSD Price Strength Builds Up On 1.1311 Region 
 
EURUSD price strength builds up on 1.1311 region as it closed higher on reversal on Wednesday. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Conversely, on the upside, resistance comes in at 1.1300 level with a break through there opening the door for further upside towards the 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD looks for more recovery to occur in the days ahead. 
 
EURUSD%202060b.png
 
 

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USDCHF Bear Pressure Set To Extend Lower
 
USDCHF bear pressure set to extend lower in the new week. Resistance resides at the 0.9900 level. Above here, resistance lies at the 0.9950 level and then the 1.0000  level. Further out, resistance comes in at the 1.0050 level. On the downside, support is seen at the 0.9800 level with a turn below here opening the door for more decline towards the 0.9750 level. And then the 0.9700 level. Further down, support resides at the 0.9650 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further weakness.  
 
EURUSD%202060b.png
 
 

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CRUDE OIL Corrective Pullback Mode Remains 
 
CRUDE OIL corrective pullback mode remains as more decline is likely in the days ahead. Support lies at the 56.50 level where a break will expose the 56.00 level. A cut through here will set the stage for a run at the 55.50 level. Further down, support comes in at the 55.00 level. Its daily RSI is a bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 57.50 levels. Further out, resistance comes in at the 58.00 level. A break above here will aim at the 58.50 level and then the 59.00 level followed by the 59.50.00 level. All in all, CRUDE OIL remains biased to the downside nearer term on pullback.
 
CRUDE%20OIL%202019.png

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