GBPUSD: With the pair strengthening on corrective recovery during Tuesday trading session, further bull pressure is expected. On the downside, support lies at the 1.2220 level where a break will turn attention to the 1.2150 level. Further down, support lies at the 1.2100 level. Below here will set the stage for more weakness towards the 1.2050 level. Conversely, resistance stands at the 1.2300 levels with a turn above here allowing more strength to build up towards the 1.2350 level. Further out, resistance resides at the 1.2400 level followed by the 1.2450 level. On the whole, GBPUSD threatens further upside pressure on correction.
USDJPY: The pair continues to hold on to its corrective risk declining further during Wednesday trading session today. On the downside, support comes in at the 103.00 level where a break if seen will aim at the 102.50 level. A cut through here will turn focus to the 102.00 level and possibly lower towards the 101.50 level. On the upside, resistance resides at the 104.00 level. Further out, we envisage a possible move towards the 104.50 level. Further out, resistance resides at the 105.00 level with a turn above here aiming at the 105.50 level. On the whole, USDJPY looks to pullback further.
EURUSD: The pair closed lower on Thursday following its price extension. Support lies at the 1.0900 level. Further down, support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level. Its daily RSI us bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further downside risk.
USDCHF: The pair maintains its medium term uptrend leaving risk higher in the new week. On the downside, support lies at the 0.9900 level. A turn below here will open the door for more weakness towards the 0.9850 level and then the 0.9800 level. On the upside, resistance resides at the 1.0000 level where a break will clear the way for more strength to occur towards the 1.0050 level. Further out, resistance comes in at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF remains biased to the upside on more strength.
GOLD: Having triggered a recovery the past week, more strength is envisaged. On the downside, support comes in at the 1,260.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,240.00 level. Below here if seen could trigger further downside pressure targeting the 1,230.00 level. Conversely, resistance resides at the 1,280.00 level where a break will aim at the 1,290.00 level. A turn above there will expose the 1,300.00 level. Further out, resistance stands at the 1,310.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD: The pair continues to hold on to its downside leaving risk of more decline on the cards. Support lies at the 1.0900 level. Further down, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0950 level with a cut through here opening the door for more upside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside risk.
EURUSD: The pair has triggered a strong rally on recovery higher on Wednesday. This development has left EURUSD targeting further bullishness. On the downside, support lies at the 1.0900 level where a violation will aim at the 1.0850 level. A break of here will aim at the 1.8000 level. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. Its daily RSI is bullish and pointing higher suggesting further upside. All in all, EURUSD faces further recovery threats in the days ahead.
GOLD: Having rejected upside pressure to close lower on Wednesday, further weakness is envisaged. On the downside, support comes in at the 1,260.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,240.00 level. Below here if seen could trigger further downside pressure targeting the 1,230.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,270.00 level where a break will aim at the 1,280.00 level. A turn above there will expose the 1,290.00 level. Further out, resistance stands at the 1,300.00 level. All in all, GOLD looks to recover higher on correction.
USDJPY: With the pair following through higher the on Thursday, further upside pressure is likely. On the downside, support comes in at the 105.00 level where a break if seen will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the 103.50 level. On the upside, resistance resides at the 105.50 level. Further out, we envisage a possible move towards the 106.00 level. Further out, resistance resides at the 106.50 level with a turn above here aiming at the 107.00 level. Its daily RSI is bullish and pointing higher suggesting further weakness. On the whole, USDJPY looks to extend its short term uptrend.
EURUSD: The pair closed higher on a correction the past week. This development has left EUR threatening further upside pressure. On the down, support lies at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will aim at the 1.0850 level. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. All in all, EURUSD faces a recovery threat in the new week.
GOLD: Having remained vulnerable to the downside, more weakness is likely in the new week. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,280.00 level where a break will aim at the 1,290.00 level. A turn above there will expose the 1,300.00 level. Further out, resistance stands at the 1,350.00 level. All in all, GOLD looks to recover higher on correction.
GBPUSD: The pair continues to retain its downside pressure but looks to recover higher. On the downside, support lies at the 1.2200 level where a break will turn attention to the 1.2150 level. Further down, support lies at the 1.2100 level. Below here will set the stage for more weakness towards the 1.2050 level. Conversely, resistance stands at the 1.2300 levels with a turn above here allowing more strength to build up towards the 1.2350 level. Further out, resistance resides at the 1.2400 level followed by the 1.2450 level. On the whole, GBPUSD threatens recovery higher.
EURUSD: The pair closed strongly higher on Tuesday leaving risk higher in the days ahead towards its key resistance at 1.1122 level. On the 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. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further recovery higher on the days ahead.
USDJPY: With the pair dropping further on Wednesday, further weakness is likely. On the downside, support comes in at the 104.50 level where a break if seen will aim at the 104.00 level. A cut through here will turn focus to the 103.50 level and possibly lower towards the 103.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 105.00 level. Further out, we envisage a possible move towards the 105.50 level. Further out, resistance resides at the 106.00 level with a turn above here aiming at the 106.50 level. On the whole, USDJPY looks to move further lower on corrective pullback.
GBPUSD: The pair continues to retain its upside pressure following its strong rally on Thursday. On the downside, support lies 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. Below here will set the stage for more weakness towards the 1.2250 level. Conversely, resistance stands at the 1.2500 levels with a turn above here allowing more strength to build up towards the 1.2550 level. Further out, resistance resides at the 1.2600 level followed by the 1.2650 level. Its daily RSI is bullish and pointing higher supporting this view. On the whole, GBPUSD threatens further recovery higher.
GOLD: Having rejected lower prices to close on Thursday, risk is now building up on more strength. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to recover higher on further correction.
USDCHF: The pair extended its weakness the past week following its recent bear 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. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on correction.
EURUSD: The pair followed through higher leaving risk to the upside in the new week. On the 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 1.0000 level. 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. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURUSD faces further recovery higher.
GOLD: Having held on to its upside pressure, more recovery is envisaged. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to recover higher on correction.
GBPUSD: The pair capped its strength on Monday closing lower. On the downside, support lies at the 1.2350 level where a break will turn attention to the 1.2300 level. Further down, support lies at the 1.2250 level. Below here will set the stage for more weakness towards the 1.2200 level. Conversely, resistance stands at the 1.2450 levels with a turn above here allowing more strength to build up towards the 1.2500 level. Further out, resistance resides at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD threatens further recovery higher but with caution
