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
GOLD: With the commodity continuing to hold on to its downside pressure, more weakness is envisaged in the new week. On the downside, support comes in at the 1,300.00 level where a break will turn attention to the 1,290.00 level. Further down, a cut through here will open the door for a move lower towards the 1,280.00 level. Below here if seen could trigger further downside pressure targeting the 1,270.00 level. Conversely, resistance resides at the 1,320.00 level where a break will aim at the 1,330.00 level. A turn above there will expose the 1,340.00 level. Further out, resistance stands at the 1,350.00 level. All in all, GOLD looks to weaken further on correction.
CRUDE OIL: The pair continues to hold on to its downside pressure following a lower close the past week. On the downside, support resides at the 43.00 level where a break will expose the 42.00 level. A cut through here will set the stage for a run at the 41.00 level. Further down, support resides at the 40.00 level. On the upside, resistance resides at the 44.00 level. Further out, resistance comes in at the 45.00 level. A break above here will aim at the 51.00 level and then the 46.00 level followed by the 47.00 level. All in all, CRUDE OIL remains biased to the downside medium term.
GBPUSD: The pair looks to weaken further having continued to threaten more bear pressure. On the downside, support lies at the 1.2950 level where a break will turn attention to the 1.2900 level. Further down, support lies at the 1.2850 level. Below here will set the stage for more weakness towards the 1.2800 level. Conversely, resistance stands at the 1.3050 levels with a turn above here allowing more strength to build up towards the 1.3100 level. Further out, resistance resides at the 1.3150 level followed by the 1.3200 level. On the whole, GBPUSD threatens further downside pressure.
EURUSD: The pair rejected lower prices on Wednesday to close higher. This development leaves EURUSD faced with consolidation risk with upside bias. 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.
GBPUSD: The pair continues to target further weakness after closing lower the past week. It now targets it key support located at 1.2865 level. On the downside, support lies at the 1.2900 level where a break will turn attention to the 1.2865 level. Further down, support lies at the 1.2800 level. Below here will set the stage for more weakness towards the 1.2800 level. Conversely, resistance stands at the 1.3000 levels with a turn above here allowing more strength to build up towards the 1.3050 level. Further out, resistance resides at the 1.3100 level followed by the 1.3150 level. On the whole, GBPUSD threatens further downside pressure.
EURUSD: The pair saw price hesitation the past week but still faces corrective pullback risk. Support lies at the 1.1150 level. Further 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 1.1000 level. Conversely, on the upside, resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. All in all, EURUSD remains biased to the upside on bear threats but faces consolidation risk.
GOLD: With the commodity still trading below its key resistance we envisage a move lower in the new week. On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,320.00 level. Further down, a cut through here will open the door for a move lower towards the 1,310.00 level. Below here if seen could trigger further downside pressure targeting the 1,300.00 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 weaken further on correction.
USDCHF: The pair declined further on Monday leaving risk lower in the new week. 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. Its daily RSI is bearish and pointing lower supporting this view. 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. All in all, USDCHF remains biased to the downside on further corrective weakness.
GOLD: The commodity looks to extend its weakness following its two-day corrective weakness. 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. Its daily RSI is bearish and pointing lower suggesting further weakness. 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 weaken further on correction.
GBPUSD: The pair continues to threaten further downside pressure after losing upside momentum on Thursday. On the downside, support lies at the 1.2900 level where a break will turn attention to the 1.2850 level. Further down, support lies at the 1.2800 level. Below here will set the stage for more weakness towards the 1.2750 level. Conversely, resistance stands at the 1.3000 levels with a turn above here allowing more strength to build up towards the 1.3050 level. Further out, resistance resides at the 1.3100 level followed by the 1.3150 level. On the whole, GBPUSD threatens further downside pressure.
EURUSD: The pair remains weak and vulnerable to the downside selling off on Friday and leaving risk lower towards the 1.1100 zone. Support lies at the 1.1050 level. Further 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. 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 on bear threats.
