USDJPY: The pair remains vulnerable to the downside despite price hesitation seen on Monday. While the 102 .65 level remains unbroken, our bias remains lower. 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 the 99.50 level. On the upside, resistance resides at the 101.50 level. Further out, we envisage a possible move towards the 102.00 level. Further out, resistance resides at the 102.50 level with a turn above here aiming at the 103.00 level. On the whole, USDJPY looks to weaken further.
EURUSD: Having taken out its key resistance at 1.1233 level on Tuesday, more strength is likely in the days ahead. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will target the 1.1050 level. Conversely, on the upside, resistance comes in 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 remains biased to the upside on bull pressure.
GBPUSD: Having the pair extended its recovery on Thursday, further strength is expected. On the downside, support lies at the 1.3100 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. Conversely, resistance stands at the 1.3400 levels with a turn above here allowing more strength to build up towards the 1.3450 level. Further out, resistance resides at the 1.3500 level followed by the 1.3550 level. On the whole, GBPUSD threatens further upside pressure.
AUDUSD. The pair lost upside pressure to decline strongly during Friday trading session today. This development has left risk lower in the days ahead. On the downside, support resides at the 0.7600 level where a breach will aim at the 0.7550 level. Below that level will set the stage for a run at the 0.7500 level with a cut through here targeting further downside pressure towards the 0.7450 level. On the upside, resistance lies at the 0.7700 level. A cut through here will turn attention to the 0.7750 level and then the 0.7800 level where a violation will set the stage for a retarget of the 0.7850 level. On the whole, AUDUSD remains biased to the downside on correction.
EURUSD: Having rallied on a follow through higher the past week, further bullishness is likely. Support lies at the 1.1250 level. Further down, support comes in at the 1.1200 level where a violation will aim at the 1.1200 level. A break of here will target the 1.1150 level. Conversely, on the upside, resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. All in all, EURUSD remains biased to the upside on bull pressure.
GBPUSD: Having the pair lost upside pressure to close lower on Thursday, more weakness is likely. On the downside, support lies at the 1.3150 level where a break will turn attention to the 1.3100 level. Further down, support lies at the 1.3050 level. Below here will set the stage for more weakness towards the 1.3000 level. 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 though with caution
GOLD: With the commodity continuing to face downside pressure, more weakness is envisaged. On the downside, support comes in at the 1,310.00 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 1,335.00 level where a break will aim at the 1,345.00 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 strengthen further but faces bear threats.
GBPUSD: With the pair losing downside steam, the pair faces further bullishness. 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 having lost upside momentum.
EURUSD: Having EURUSD weakened on Tuesday, further decline is envisaged. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will aim at the 1.0950 level. Its daily RSI is bearish and pointing lower supporting this view. 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.
GBPUSD: With the pair strengthening on Thursday, more strength is expected. However, that move remains within its established range. 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. 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.
EURUSD: Having EURUSD closed lower on corrective pullback, more weakness is likely. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will aim at the 1.0950 level. Its weekly RSI is bearish and pointing lower supporting this view. 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 on weakness
GOLD: With the commodity rejecting higher prices the past week, a move higher on correction is envisaged. On the downside, support comes in at the 1,310.00 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 1,280.00 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 strengthen further on correction.
GOLD: With the commodity rallying on Tuesday, further bullishness is likely. On the downside, support comes in at the 1,340.00 level where a break will turn attention to the 1,330.00 level. Further down, a cut through here will open the door for a move lower towards the 1,320.00 level. Below here if seen could trigger further downside pressure targeting the 1,310.00 level. Conversely, resistance resides at the 1,355.00 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 on correction.
EURGBP- With the pair recovering strongly on Wednesday, further price strength is likely. Resistance resides at the 0.8500 level where a violation if seen will turn risk towards the 0.8550 level. On further upside, the 0.8600 level comes in as the next upside target followed by the 0.8650 level. Its daily RSI is bullish and pointing higher suggesting more strength. Support comes in at 0.8400 level. Further down, support lies at the 0.8350 level where a violation will turn focus to the 0.8300 level. A break will expose the 0.8250 level. All in all, EURGBP remains biased to the upside on corrective recovery.
EURUSD: With the pair rejecting Higher prices to close lower on Friday (see daily chart), further downside pressure. Support lies at the 1.1200 level. Further down, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. Conversely, on the upside, resistance comes in 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 remains biased to the downside on bear threats.
GOLD: With the commodity declining on correction the past week, more weakness is envisaged in the new week. On the downside, support comes in at the 1,320.00 level where a break will turn attention to the 1,310.00 level. Further down, a cut through here will open the door for a move lower towards the 1,300.00 level. Below here if seen could trigger further downside pressure targeting the 1,290.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, GOLD looks to strengthen further on correction.
GBPUSD: With the pair reversing its Monday losses during Tuesday trading session, further downside pressure is likely. 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. 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.
EURUSD: With the pair rejecting higher prices to close lower on Tuesday, further downside pressure is likely. Support lies at the 1.1200 level. Further down, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in 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 remains biased to the upside on bull threats
USDCHF: The pair continues to hold on to its downside pressure. 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. All in all, USDCHF remains biased to the upside on further correction.
EURUSD: The pair continues to face downside pressure following its sell off the past week. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at 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 remains biased to the downside on bear threats
