Daily Technical Strategy On Currencies by FXTechstrategy

USDJPY Closes Higher Third Day In A Row

USDJPY saw more gain to close higher for a third day in a row on Wednesday. On the downside, support resides at 106.50 level. Below this level will turn focus to the 106.00 level. Further down, support is seen at the 105.50 level. A cut through here will open the door for more decline towards the 105.00. On the upside, resistance comes in at the 107.50 level where a break will target the 107.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 108.50 level. On the whole, USDJPY faces further upside threats on pullback

USDJPYDaily

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USDCHF Continues To Retain Downside Pressure

USDCHF continues to face risk of further move lower as it retains its broader downside pressure. Support comes in at the 0.9050 level. Below here, support lies at the 0.9000 level and then the 0.8950 level. Further down, support comes in at the 0.8900 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance is located at the 0.9150 level with a turn above here opening the door for a move towards the 0.9200 level. And then the 0.9250 level. Further down, support comes in at the 0.9300 level. All in all, USDCHF remains biased to the downside in the medium term.

USDCHFDaily

EURUSD looks to strengthen further in it looks to resume its broader uptrend. Resistance now comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more downside pressure.

EURUSDDaily

GBPUSD Risk Continues To Point Higher Long Term.

GBPUSD has resumed its long term uptrend with more strength expected. Support comes in at 1.3200 area with a break turning focus to the 1.3150 level. Further down, support lies at the 1.3100 level. A cut through here will turn focus to the 1.3050 level and then the 1.3000 level. On the upside, resistance is seen at the 1.3250 with a break above there allowing for morel strength to build up towards the 1.3300 level. Further out, resistance stands at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD faces further upside threats long term.

GBPUSDDaily

EURUSD Pressure Builds Up On 1.1710 Area

EURUSD looks to weaken further as it eyes its key support located at 1.1710. Resistance now comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1750 level with a violation opening the door for a run at the 1.1700 level. Further down, support is seen at the 1.1650 level. A cut through that level will clear the way for a move towards the 1.1600 level. All in all, EURUSD looks for more downside pressure.

EURUSDDaily

USDJPY Strengthens, Eyes Key Resistance At 107.04

USDJPY looks to extend price gain following its strong rally during Tuesday trading session today. On the downside, support comes in at 106.00 level. Below this level will turn attention to the 105.50 level. Further down, support is seen at the 105.00 level. A cut through here will open the door for more decline towards the 104.50. On the upside, resistance comes in at the 107.00 level where a break will target the 107.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 108.50 level. On the whole, USDJPY faces further upside threats in the days ahead.

USDJPYDaily

GBPJPY Rallies, Extend Its Bull Pressure

GBPJPY looks to strengthen further higher in the days ahead following its rally on Thursday. On the downside, support comes in at the 140.00 level where a violation will aim at the 139.50 level. A break below here will target the 139.00 level followed by the 138.50 level. Conversely, resistance is seen at the 141.00 level followed by the 141.50 level. A cut through that level will set the stage for a move further higher towards the 142.00 level. Further out, resistance resides at the 142.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, GBPJPY remains biased to the upside in the medium term.

GBPJPYDaily

EURUSD Puts In Temporary Bottom

EURUSD faces risk of a move higher in the new week as it rejected lower prices on Friday. Resistance now comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more recovery pressure.

EURUSDDaily

GBPJPY Sets Up To Strengthen Further

GBPJPY looks to decline further as it retains its downside pressure into the new week. On the upside, support comes in at the 136.00 level where a violation will aim at the 136.50 level. A break below here will target the 137.00 level followed by the 137.50 level. Conversely, support is seen at the 135.50 level followed by the 135.00 level. A cut through this level will set the stage for a move further lower towards the 134.50 level. Further down, support resides at the 134.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. All in all, GBPJPY remains biased to the downside in the short term.

EURJPYDaily

EURUSD Looks To Weaken On Price Rejection

EURUSD faces risk of a move lower after rejecting higher prices on Thursday and Friday the past week. Resistance now comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.1950. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more downside pressure on correction.

EURUSDDaily

CRUDE OIL Broader Upside Bias Remains Valid

CRUDE OIL looks to strengthen further as it looks to resume its broader uptrend. Support lies at the 40.50 level where a break will turn attention to the 40.00 level. A push through here will set the stage for a run at the 39.50 level. Further down, support comes in at the 39.00. Its daily RSI is bullish and pointing higher suggesting more gain. On the upside, resistance resides at the 41.50 levels. Further out, resistance comes in at the 42.00 level. A break above here will aim at the 42.50 level and then the 43.50 level followed by the 44.00 level. All in all, CRUDE OIL remains biased to the upside medium term.

WTI.fsDaily

USDCHF Rallies, Eyes Further Upside Pressure

USDCHF continues to face recovery risk as it saw a rally on Monday. On the downside, support comes in at the 0.9100 level. Below here leaves support at the 0.9050 level and then the 0.9000 level. Further down, support comes in at the 0.8950 level. On the upside, resistance is located at the 0.9200 level with a turn above here opening the door for a move towards the 0.9250 level. And then the 0.9300 level. Further down, support comes in at the 0.9350 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCHF remains biased to the upside on further corrective recovery.

USDCHFDaily

EURUSD Extends Weakness In The Short Term

EURUSD faces risk of further move lower as we look for more decline in the new week. Resistance comes in at the 1.1650 with a break of that area turning risk towards the 1.1700 level. A move above here will target the 1.1750 level. Further up, resistance stands at the 1.1800. On the down, support comes in at 1.1600 level with a violation opening the door for a run at the 1.1550 level. Further down, support is seen at the 1.1500 level. A cut through that level will clear the way for a move towards the 1.1450 level. All in all, EURUSD looks for more downside pressure.

EURUSDDaily

AUDUSD Bullish, Remains On The Offensive

AUDUSD remains biased to the upside retaining its short term trend and looking for further gain. On the downside, support comes in at the 1.7150 level. A cut through here will turn focus to the 0.7100 level and then the 0.7050 level. A violation will set the stage for a retarget of the 0.7000 level. Conversely, resistance lies at the 0.7200 level where a breach will aim at the 0.7250 level. Below here will open the door for a run at the 0.7300 level and then the 0.7350 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, AUDUSD faces further upside threats.

AUDUSDDaily

EURUSD Biased To The Upside On Recovery Medium Term

EURUSD continues to face risk of further upside pressure as we enter a new week. Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level. Further up, resistance stands at the 1.1800. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level. All in all, EURUSD looks for more upside pressure.

EURUSDDaily

NZDUSD Vulnerable, Eyes Further Weakness

NZDUSD continues to face risk of further move lower after declining on TRuesday. Support lies at the 0.6550 level where a break will turn attention to the 0.6500 level. A break of here will have to happen to create scope for a move higher towards the 0.6450 level. Further down, support resides at the 0.6400 level. Conversely, resistance stands at the 0.6650 level. Further down, the 0.6700 level comes in as the next downside target and then the 0.6750 level. All in all, NZDUSD faces further downside pressure

NZDUSDDaily

EURUSD Bullish, Risk Points Higher

EURUSD faces further upside pressure as we look for more gain. Resistance comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1700 level. Further down, support is seen at the 1.1650 level. A cut through that level will clear the way for a move towards the 1.1600 level. All in all, EURUSD looks for more upside pressure in the new week.

EURUSDDaily

I have decided not to trade using GBP until the whole Brexit issue in all its actuality is realized.

USDJPY Vulnerable, Extends Weakness

USDJPY looks to move further lower after selling off on Wednesday. On the downside, support comes in at 105.00 level. Below this level will turn attention to the 104.50 level. Further down, support is seen at the 104.00 level. A cut through here will open the door for more decline towards the 103.50. Its daily RSI is bearish and pointing lower suggesting further decline. On the upside, resistance comes in at the 105.50 level where a break will target the 106.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 107.00 level. On the whole, USDJPY faces further downside threats.

USDJPYDaily

EURUSD Looks To Resume Upside Pressure

EURUSD faces further upside pressure as it looks to resume its uptrend in the new week. Resistance comes in at the 1.1900 with a break of that area turning risk towards the 1.1950 level. A move above here will target the 1.2000 level. Further up, resistance stands at the 1.2050. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more upside pressure in the days ahead.

EURUSD Looks To Resume Upside Pressure