AUDUSD: Puts In Temporary Bottom
AUDUSD: Having halted its weakness on a rejection candle print, AUDUSD now looks for a corrective recovery higher. On the downside, support resides at the 0.7300 level where a breach will aim at the 0.7250 level. Below that level will set the stage for a run at the 0.7200 level with a cut through here targeting further downside towards the 0.7150 level. On the upside, resistance lies at the 0.7400 level. A cut through here will turn attention to the 0.7450 level and then the 0.7500 level where a violation will set the stage for a retarget of the 0.7550 level. On the whole, AUDUSD continues to retain its broader downtrend pressure.
3 Likes
GBPUSD: Bounces Higher, Eyes 1.5674 Level
GBPUSD: With GBP putting a halt to its downside pressure to turn higher during Wednesday trading session, further recovery threats are envisaged. On the upside, resistance resides at the 1.5700 level with a break aiming at the 1.5750 level. A violation will aim at the 1.5800 level and possibly higher towards the 1.5850 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.5550 level where a break if seen will aim at the 1.5500 level. A break of here will turn attention to the 1.5450 level. Further down, support lies at the 1.5400 level. On the whole, GBP looks to retain its upside bias but with caution.
USDJPY: Consolidation Sets In But With Upside Bias
USDJPY: Corrective pullback may have ended leaving the pair threatening its medium term trend resumption. If this is seen, resistance resides at the 124.50 level with a turn above here aiming at the 125.00 level. A break will target the 125.50 level. Further out, resistance comes in at the 126.00 level where a violation will aim at the 126.50 level. Conversely, support comes in at the 123.50 level where a break will target the 123.00 level. Below here if seen will aim at the 122.50 level followed by the 122.00 level. On the whole, USDJPY remains exposed to the upside.
AUDUSD: Weakens On Trend Resumption
AUDUSD: Having continued to maintain its broader downtrend, further bearishness is envisaged. On the downside, support resides at the 0.7250 level where a breach will aim at the 0.7200 level. Below that level will set the stage for a run at the 0.7150 level with a cut through here targeting further downside towards the 0.7100 level. On the upside, resistance lies at the 0.7350 level. A cut through here will turn attention to the 0.7400 level and then the 0.7450 level where a violation will set the stage for a retarget of the 0.7500 level. On the whole, AUDUSD continues to retain its broader downtrend pressure.
USDCHF: Retains Recovery Risk
USDCHF: With the pair taking back almost all of its past week losses to close marginally higher, it faces the risk of a move higher in the new week. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and then the 0.9450 level. A cut through here will open the door for additional weakness towards the 0.9400 level. Resistance resides at the 0.9650 level with a breach targeting the 0.9700 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9761 level. All in all, the pair remains biased to the upside on further strength.
EURUSD: Biased To Upside On Recovery.
EURUSD: Having EUR taken back most of its previous week losses to close higher the past week, we could see more recovery occurring. This development leaves risk higher in the new week though with caution. 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 1.0600 level with a turn below that level targeting the 1.0550 level. Resistance is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. All in all, EUR remains biased to the downside medium term.
1 Like
USDJPY: Weakens Further On Correction
USDJPY: With USDJPY weakening further on correction on Monday, further downside pressure is envisaged. On the upside, resistance resides at the 124.00 level with a turn above here aiming at the 124.50 level. A break will target the 125.00 level. Further out, resistance comes in at the 125.50 level where a violation will aim at the 126.00 level. On the downside, support comes in at the 123.00 level where a break will target the 122.50 level. Below here if seen will aim at the 122.00 level followed by the 121.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the whole, USDJPY remains exposed to the downside on correction.
GBPJPY: Triggers Recovery, Eyes More Upside.
GBPJPY: Outlook for the cross remains higher having triggered a strong recovery on Tuesday. We look for more strength to occur towards the 194.00 level. On the upside, resistance lies at the 195.00 level followed by the 196.00 level where a break will aim at the 197.00 level. A cut through here will aim at the 198.00 level. Further out, the 197.00 level comes in as the next resistance. Its daily RSI has turned higher supporting this view. On the downside, support comes in at the 192.00 level where a violation will aim at the 191.00 level. A break below here will target the 190.00 level followed by the 189.00 level. All in all, the cross remains biased to the upside on correction
GBPUSD: Outlook Remains Higher On Corrective Recovery
GBPUSD: Having continued to hold on to its recovery bias by extending its strength during Wednesday trading session, further move higher is expected. On the upside, resistance resides at the 1.5700 level with a break aiming at the 1.5750 level. A violation will aim at the 1.5800 level and possibly higher towards the 1.5850 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.5600 level where a break if seen will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5450 level. On the whole, GBP looks to retain its recovery bias.
EURUSD: Sees Price Extension, Eyes The 1.0800 Level
EURUSD: With EUR extending its price weakness during Thursday trading session, threats of further downside pressure is envisaged. 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 with a turn below that level targeting the 1.0700 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance is seen at 1.0950 level with a cut through here opening the door for more downside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. All in all, EUR remains biased to the downside in the medium term.
GBPJPY: Sets Up To Correct Lower
GBPJPY: The cross remains vulnerable to the downside after failing at higher level prices on Thursday. On the downside, support comes in at the 193.00 level where a violation will aim at the 192.00 level. A break below here will target the 191.00 level followed by the 190.00 level. On the upside, resistance lies at the 194.00 level followed by the 195.00 level where a break will aim at the 196.00 level. A cut through here will aim at the 197.00 level. Further out, the 198.00 level comes in as the next resistance. All in all, the cross remains biased to the downside short term.
USDCHF: Sees Price Hesitation
USDCHF: Broader outlook for USDCHF may be higher but it faces the risk of a move lower following its price hesitation the past week. Resistance resides at the 0.9700 level with a breach targeting the 0.9750 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9800 level. On the downside, support comes in at the 0.9600 level. A turn below here will open the door for more weakness to occur towards the 0.9550 level and then the 0.9500 level. A cut through here will open the door for additional weakness towards the 0.9450 level. All in all, the pair remains biased to the upside on further strength.
EURUSD: Loses Upside Momentum, Faces Downside Risk
EURUSD: Having EUR reversed its entire past week gains to close flat, it now faces risk of a move lower in the new week. 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 1.0600 level with a turn below that level targeting the 1.0550 level. Resistance is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. All in all, EUR remains biased to the downside medium term.
GBPUSD: Risk Points Lower On Correction
GBPUSD: GBP continues to look vulnerable to the downside on correction with more decline envisaged. On the downside, support lies at the 1.5550 level where a break if seen will aim at the 1.5500 level. A break of here will turn attention to the 1.5450 level. Further down, support lies at the 1.5400 level. Its daily RSI is bearish and pointing lower leaving risk to the downside. Conversely, resistance lies at the 1.5650 level with a break aiming at the 1.5700 level. A violation will aim at the 1.5750 level and possibly higher towards the 1.5800 level. On the whole, GBP continues to retain its downside bias but with caution.
USDJPY - Vulnerable Below The 124.47/57 Zone
USDJPY - With the pair continuing to maintain below its key resistance at 124.57 level, a move lower should occur. Support resides at the 123.50 level with a turn below here aiming at the 123.00 level. A break will target the 122.50 level. Further out, support comes in at the 122.00 level where a violation will aim at the 121.50 level. Conversely, resistance comes in at the 124.47/57 levels where a break will target the 125.00 level. Below here if seen will aim at the 125.50 level followed by the 126.00 level. On the whole, USDJPY remains exposed to the downside on corrective weakness.
GBPUSD: Reverses Gain, Eyes Further Upside Pressure
GBPUSD: With GBP reversing its two-day weakness on Wednesday following a strong rally, risk of further move higher is likely. On the downside, support lies at the 1.5550 level where a break if seen will aim at the 1.5500 level. A break of here will turn attention to the 1.5450 level. Further down, support lies at the 1.5400 level. Conversely, on the upside, resistance resides at the 1.5700 level with a break aiming at the 1.5750 level. A violation will aim at the 1.5800 level and possibly higher towards the 1.5850 level. Its daily RSI is has turned suggesting further strength. On the whole, GBP looks to retain its recovery bias.
GBPJPY: Turns Lower On Price Failure
GBPJPY: The cross turned lower on Thursday taking back most of its Wednesday gains. This development leaves the cross targeting further downside pressure. On the downside, support comes in at the 193.00 level where a violation will aim at the 192.00 level. A break below here will target the 191.00 level followed by the 190.00 level. On the upside, resistance lies at the 195.00 level followed by the 196.00 level where a break will aim at the 197.00 level. A cut through here will aim at the 198.00 level. Further out, the 198.50 level comes in as the next resistance. All in all, the cross remains biased to the upside.
USDCHF: With USDCHF extending its bullishness the past week, it now faces further upside pressure. However, with its daily hart spotting rejection candles, correction weakness could be seen in the new week. Resistance resides at the 0.9900 level with a breach targeting the 0.9950 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0000 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 0.9750 level. A turn below here will open the door for more weakness to occur towards the 0.9700 level and then the 0.9650 level. A cut through here will open the door for additional weakness towards the 0.9600 level. All in all, the pair remains biased to the upside medium term.
GBPUSD: GBP looks to recover higher following its rejection candle print on Friday. This development leaves the immediate risk higher with its lower level charts (see 4 hourly chart) turning higher. On the downside, support lies at the 1.5450 level where a break if seen will aim at the 1.5400 level. A break of here will turn attention to the 1.5350 level. Further down, support lies at the 1.5300 level. Conversely, resistance lies at the 1.5550 level with a break aiming at the 1.5600 level. A violation of that level will open the door for more strength towards the 1.5650 level. Further out, the 1.5700 level comes in as the next upside target. On the whole, GBP faces the risk of a recovery higher on correction.
