GBPUSD: The pair closed higher on Monday leaving risk higher in the days ahead. On the downside, support lies at the 1.2450 level where a break will turn attention to the 1.2400 level. Further down, support lies at the 1.2350 level. Below here will set the stage for more weakness towards the 1.2300 level. Conversely, resistance stands at the 1.2550 levels with a turn above here allowing more strength to build up towards the 1.2600 level. Further out, resistance resides at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD threatens further weakness on correction.
GOLD: Having the commodity sold off strongly on Wednesday, further weakness is likely. On the downside, support comes in at the 1,180.00 level where a break will turn attention to the 1,170.00 level. Further down, a cut through here will open the door for a move lower towards the 1,160.00 level. Below here if seen could trigger further downside pressure targeting the 1,150.00 level. Its daily RSI is bearish and pointing lower supporting this view. 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 trend resumption.
USDCHF: The pair remains biased to the downside on corrective weakness threats having followed through lower during Friday trading session. On the downside, support lies at the 1.0100 level. A turn below here will open the door for more weakness towards the 1.0050 level and then the 1.0000 level. On the upside, resistance resides at the 1.0200 level where a break will clear the way for more strength to occur towards the 1.0250 level. Further out, resistance comes in at the 1.0300 level. All in all, USDCHF remains biased to the downside as it weaken on corrective pullback.
GOLD: The commodity strengthened on the back of its Friday rejection candle on Monday. This has left it targeting further upside pressure in the days ahead. On the downside, support comes in at the 1,180.00 level where a break will turn attention to the 1,170.00 level. Further down, a cut through here will open the door for a move lower towards the 1,160.00 level. Below here if seen could trigger further downside pressure targeting the 1,150.00 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 trend resumption.
EURUSD: The pair continues to retain its broader downside pressure having rejected higher prices on Monday. This development leaves EURUSD vulnerable to the downside in the days ahead. On the down, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Conversely, on the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. All in all, EURUSD faces further downside pressure.
CRUDE OIL: With the commodity rallying for two days in a row, more price extension is likely in the days ahead. On the downside, support resides at the 51.00 level where a break will expose the 50.00 level. A cut through here will set the stage for a run at the 49.00 level. Further down, support resides at the 48.00 level. On the upside, resistance resides at the 52.00 level. Further out, resistance comes in at the 53.00 level. A break above here will aim at the 54.00 level and then the 55.00 level followed by the 56.00 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, CRUDE OIL remains biased to the upside on bull pressure.
EURUSD: The pair continues to seek for recovery though closing marginally higher on Friday. On the down, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. Conversely, on the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bullish and pointing higher suggesting further corrective recovery. All in all, EURUSD faces further downside pressure.
GBPUSD: The pair closed strongly higher the past week and looks to extend that strength in the new week. On the downside, support lies at the 1.2700 level where a break will turn attention to the 1.2650 level. Further down, support lies at the 1.2600 level. Below here will set the stage for more weakness towards the 1.2550 level. Conversely, resistance stands at the 1.2800 levels with a turn above here allowing more strength to build up towards the 1.2850 level. Further out, resistance resides at the 1.2900 level followed by the 1.2950 level. On the whole, GBPUSD threatens further upside pressure but with caution.
EURUSD: The pair continues to push higher leaving risk of further strength on the cards. On the down, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level. Conversely, on the upside, resistance comes in at 1.0800 level with a cut through here opening the door for more upside towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. Its daily RSI is bullish and pointing higher leaving risk higher. All in all, EURUSD faces further upside pressure on corrective recovery.
EURUSD: The pair continues to retain its upside pressure on correction. On the down, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level. Conversely, on the upside, resistance comes in at 1.0800 level with a cut through here opening the door for more upside towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further upside pressure.
GBPUSD: The pair turned lower on Wednesday leaving risk of more weakness on the cards. However, its correction higher is not over yet. On the downside, support lies at the 1.2600 level where a break will turn attention to the 1.2550 level. Further down, support lies at the 1.2500 level. Below here will set the stage for more weakness towards the 1.2450 level. Conversely, resistance stands at the 1.2700 levels with a turn above here allowing more strength to build up towards the 1.2750 level. Further out, resistance resides at the 1.2800 level followed by the 1.2850 level. On the whole, GBPUSD threatens further downside pressure but with caution.
GOLD: The commodity turned back higher after rejecting lower level prices on Monday. On the downside, support comes in at the 1,150.00 level where a break will turn attention to the 1,140.00 level. Further down, a cut through here will open the door for a move lower towards the 1,130.00 level. Below here if seen could trigger further downside pressure targeting the 1,120.00 level. Conversely, resistance resides at the 1,170.00 level where a break will aim at the 1,180.00 level. A turn above there will expose the 1,190.00 level. Further out, resistance stands at the 1,200.00 level. All in all, GOLD looks to weaken further on trend resumption.
EURUSD: The pair continues to hold on to its downside pressure leaving risk lower in the new week. However, we could see a mild price recovery higher. On the down, support lies at the 1.0400 level where a violation will aim at the 1.0350 level. A break of here will aim at the 1.0300 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0500 level with a cut through here opening the door for more upside towards the 1.0550 level. Further up, resistance lies at the 1.0600 level where a break will expose the 1.0650 level. All in all, EURUSD faces further Downside pressure.
GOLD: The commodity continues to hold on to its downside pressure as it looks to weaken further in the new week. On the downside, support comes in at the 1,120.00 level where a break will turn attention to the 1,110.00 level. Further down, a cut through here will open the door for a move lower towards the 1,100.00 level. Below here if seen could trigger further downside pressure targeting the 1,090.00 level. Conversely, resistance resides at the 1,140.00 level where a break will aim at the 1,150.00 level. A turn above there will expose the 1,160.00 level. Further out, resistance stands at the 1,170.00 level. All in all, GOLD looks to weaken further on trend resumption.
GBPUSD: The pair remains vulnerable to the downside having continued to face bear pressure. On the downside, support lies at the 1.2300 level where a break will turn attention to the 1.2250 level. Further down, support lies at the 1.2200 level. Below here will set the stage for more weakness towards the 1.2150 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.2400 levels with a turn above here allowing more strength to build up towards the 1.2450 level. Further out, resistance resides at the 1.2500 level followed by the 1.2550 level. On the whole, GBPUSD threatens further downside pressure.
CRUDE OIL: The commodity now looks to retarget its key resistance located the 54.48 level as it continues to retain its broader medium term uptrend bias. On the downside, support resides at the 53.00 level where a break will expose the 52.00 level. A cut through here will set the stage for a run at the 51.00 level. Further down, support resides at the 50.00 level. On the upside, resistance resides at the 54.00 level. Further out, resistance comes in at the 55.00 level. A break above here will aim at the 56.00 level and then the 57.00 level followed by the 58.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside medium term.
EURUSD: The pair lost its intra day gains to close marginally higher on Thursday. This development has opened the door for a possible move lower in anticipation of trend resumption. On the down, support lies at the 1.0400 level where a violation will aim at the 1.0350 level. A break of here will aim at the 1.0300 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0500 level with a cut through here opening the door for more upside towards the 1.0550 level. Further up, resistance lies at the 1.0600 level where a break will expose the 1.0670 level. All in all, EURUSD faces further Downside pressure after rejecting higher prices on Thursday.
EURUSD: The pair continues to face downside pressure medium term as it looks to resume is its broader weakness presently on hold. On the down, support lies at the 1.0400 level where a violation will aim at the 1.0350 level. A break of here will aim at the 1.0300 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0500 level with a cut through here opening the door for more upside towards the 1.0550 level. Further up, resistance lies at the 1.0600 level where a break will expose the 1.0670 level. All in all, EURUSD faces further downside pressure in the medium term despite price hesitation.
GOLD: The commodity continues to hold on to its broader downside pressure following a loss of up momentum on Tuesday. On the downside, support comes in at the 1,130.00 level where a break will turn attention to the 1,120.00 level. Further down, a cut through here will open the door for a move lower towards the 1,110.00 level. Below here if seen could trigger further downside pressure targeting the 1,100.00 level. Conversely, resistance resides at the 1,150.00 level where a break will aim at the 1,160.00 level. A turn above there will expose the 1,170.00 level. Further out, resistance stands at the 1,180.00 level. All in all, GOLD looks to weaken further on trend resumption.
EURUSD: The pair rejected higher prices to print a rejection candle on Friday. This development leaves risk lower in the new week on a possible price resumption. On the down, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0550 level with a cut through here opening the door for more upside towards the 1.0600 level. Further up, resistance lies at the 1.0650 level where a break will expose the 1.0700 level. All in all, EURUSD faces further downside pressure medium term.
