EURUSD: Having continued to strengthen, EURUSD looks for more bullishness in the short term. On the downside, support lies at the 1.1150 level. Further down, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level. Conversely, on the upside, resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD looks for more bullishness in the short term.
GBPUSD: Having failed to sustain its intra day gains to close flat on Thursday and followed through lower during early Friday trading, further bearishness is envisaged. Support lies at the 1.4500 level where a break will turn attention to the 1.4450 level. Further down, support lies at the 1.4400 level. Below here will set the stage for more weakness towards the 1.4350 level. Resistance stands at the 1.4600 levels with a turn above here allowing more strength to build up towards the 1.4650 level. Further out, resistance resides at the 1.4700 level followed by the 1.4750 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the whole, GBPUSD faces downside pressure on further price weakness.
EURGBP- With the cross closing strongly higher the past week, further bullishness is likely. However, with price hesitation seen on Friday (daily chart) ahead of its key resistance at 0.7741/55 zone, it should face pullback threats in the new week. Support comes in at 0.7640 level. Further down, support lies at the 0.7600 level where a violation will turn focus to the 0.7550 level. A break will expose the 0.7500 level. On the upside, resistance lies at the 0.7700 level where a violation if seen will turn risk towards the 0.7740 level. On further upside, the 0.7780 level comes in as the next upside target followed by the 0.7820 level. All in all, the cross remains biased to the downside below key support zone.
EURUSD: With EUR pulling back (see daily chart) ahead of its key resistance following its rally above its declining trendline the past week, EURUSD looks to pullback ahead of key resistance. On the downside, support is located at the 1.1100 level and if violated, expect more weakness to happen towards the 1.1050 level. Further down, support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0900 level. On the upside, resistance is comes 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 looks to pullback ahead of key resistance.
CRUDE OIL: The commodity continues to hold on to its downside pressure leaving risk of more strength on the cards. On the downside, support resides at the 30.00 level where a break will expose the 29.00 level. A cut through here will set the stage for a run at the 28.00 level. Further down, support resides at the 27.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 32.00 level. Further out, resistance comes in at the 33.00 level. A break above here will aim at the 34.00 level and then the 35.00 level followed by the 36.00 level. All in all, CRUDE OIL’s broader bias remains lower with more weakness envisaged.
GBPUSD: Having declined on further weakness during Monday trading session, GBPUSD looks to weaken more on bearishness. On the downside, support lies at the 1.4350 level where a break will turn attention to the 1.4300 level. Further down, support lies at the 1.4250 level. Below here will set the stage for more weakness towards the 1.4200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.4450 levels with a turn above here allowing more strength to build up towards the 1.4500 level. Further out, resistance resides at the 1.4550 level followed by the 1.4600 level. On the whole, GBPUSD looks to weaken more on bearishness medium term.
USDJPY: The pair sold off further on Monday and followed through lower during early trading on Tuesday. This development leaves risk of more weakness on the cards. However, beware of a correction. On the downside, support comes in at the 115.00 level where a break if seen will aim at the 114.50 level. A cut through here will turn focus to the 114.00 level and possibly lower towards the 113.50 level. On the upside, resistance resides at the 1176.50 level. Further out, we envisage a possible move towards the 117.00 level. Further out, resistance resides at the 117.50 level with a turn above here aiming at the 118.00 level. On the whole, USDJPY looks to build up on price weakness.
EURJPY: With price rejection now seen, EURJPY looks to put in temporary bottom. Unless the pair returns below the 128.26 level, we think a corrective recovery should occur. On the downside, support comes in at the 129.00 level where a break will aim at the 128.50 level. A turn below here will target the 128.00 level with a breach turning focus to the 127.50 level. Its daily RSI is bullish and pointing lower suggesting further weakness. Conversely, resistance lies at the 130.00 level. Further out, resistance comes in at the 130.50 level where a break if seen will threaten further upside towards the 131.00. Further out, resistance resides at the 131.50 level. All in all, EURJPY looks to put in temporary bottom with possible corrective recovery.
GBPUSD: Having halted its weakness to close higher on Tuesday and followed through higher on Wednesday, GBPUSD aims at 1.4591 level on bullishness. Support lies at the 1.4450 level where a break will turn attention to the 1.4400 level. Further down, support lies at the 1.4350 level. Below here will set the stage for more weakness towards the 1.4300 level. On the upside, resistance stands at the 1.4500 level with a turn above here allowing more strength to build up towards the 1.4550 level. Further out, resistance resides at the 1.4600 level followed by the 1.4650 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD aims at 1.4591 level on bullishness.
EURUSD: Having taken back all of its intra day losses to close flat on Wednesday and following through higher during Thursday trading session , EURUSD faces further bullish offensive short term. Support lies at the 1.1250 level. Further down, support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, on the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further bullish offensive short term.
USDCHF: Having continued to maintain its downside pressure selling off on Thursday, USDCHF targets support at the 0.9600 zone. This is coming on the back of its intra day price reversal on Wednesday. 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. Its daily RSI is bearish and pointing lower supporting this view. Further down, support resides at the 0.9450 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. All in all, USDCHF targets support at the 0.9600 zone on further weakness
EURUSD: Although holding on to its upside offensive, its loss of upside momentum is suggestive of a return to the downside. Support lies at the 1.1250 level. Further down, support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, on the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further bullish offensive short term but with caution.
EURGBP- Although the cross remains biased to the upside, it faces a move lower on correction on loss of upside momentum. However, with a loss of upside momentum seen on Friday (see daily chart) Support comes in at 0.7700 level. Further down, support lies at the 0.7650 level where a violation will turn focus to the 0.7500 level. A break will expose the 0.7450 level. On the upside, resistance lies at the 0.7800 level where a violation if seen will turn risk towards the 0.7840 level. On further upside, the 0.7880 level comes in as the next upside target followed by the 0.7920 level. All in all, the cross remains biased to the downside below key resistance zone.
EURUSD: Although holding on to its upside offensive, EURUSD faces pullback threats on loss of momentum at the end of the week. On the downside, support is located at the 1.1200 level and if violated, expect more weakness to happen towards the 1.1150 level. Further down, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level. On the upside, resistance is comes at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EURUSD faces pullback threats on loss of momentum at the end of the week
GOLD: Having continued to decline following its Friday downside pressure after price failure, more weakness is now envisaged in the days ahead. On the downside, support comes in at the 1210.00 level where a break will turn attention to the 1200.00 level. Further down, a cut through here will open the door for a move lower towards the 1190.00 level. Below here if seen could trigger further downside pressure targeting the 1180.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1240.00 level where a break will aim at the 1250.00 level. A turn above there will expose the 1260.00 level. Further out, resistance stands at the 1270.00 level. All in all, GOLD looks to build up on its corrective weakness.
USDJPY: The pair continued further higher on the back of its Friday strength on Monday. USDJPY faces recovery threats towards key resistance. On the downside, support comes in 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. Its daily RSI is bullish and pointing higher suggesting further upside. On the upside, resistance resides at the 113.00 level. Further out, we envisage a possible move 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. On the whole, USDJPY faces recovery threats towards key resistance.
GBPUSD: Having the pair declined sharply on Tuesday, GBPUSD targets more weakness on bear pressure. Support lies at the 1.4250 level where a break will turn attention to the 1.4200 level. Further down, support lies at the 1.4150 level. Below here will set the stage for more weakness towards the 1.4100 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance stands at the 1.4300 level with a turn above here allowing more strength to build up towards the 1.4350 level. Further out, resistance resides at the 1.4400 level followed by the 1.4450 level. On the whole, GBPUSD targets more weakness on bear pressure.
EURUSD: With continued downside pressure seen, EURUSD targets the 1.1059 support zone . This leaves the pair targeting its key support located at the 1.1059 level. However, immediate support lies at the 1.1100 level with a cut through there opening the door for more weakness towards the 1.1050 level and then the 1.1000 level. A break of here will aim at the 1.0950 level. Its daily RSI is bearish and pointing lower suggesting further weakness. 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 targets the 1.1059 support zone on further weakness.
EURJPY: Having the cross continued to hold on to its downside pressure, more weakness is envisaged. Support comes in at the 126.50 level where a break will aim at the 126.00 level. A turn below here will target the 125.50 level with a breach turning focus to the 125.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 127.50 level. Further out, resistance comes in at the 128.00 level where a break if seen will threaten further upside towards the 128.50. Further out, resistance resides at the 129.00 level. All in all, EURJPY eyes further bearishness.
GBPUSD: Having the pair halted its downside pressure and threatening recovery, we expect price extension to occur. Support lies at the 1.4300 level where a break will turn attention to the 1.4250 level. Further down, support lies at the 1.4200 level. Below here will set the stage for more weakness towards the 1.4150 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the upside, resistance stands at the 1.4400 level with a turn above here allowing more strength to build up towards the 1.4450 level. Further out, resistance resides at the 1.4500 level followed by the 1.4550 level. On the whole, GBPUSD aims at further upside pressure on recovery.
