GOLD: Bearish, Targets Further Weakness
GOLD: The commodity continues to face downside pressure on bearishness. On the downside, support comes in at the 1,240.00 level where a break will turn attention to the 1,230.00 level. Further down, a cut through here will open the door for a move lower towards the 1,220.00 level. Below here if seen could trigger further downside pressure targeting the 1,210.00 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, resistance resides at the 1,250.00 level where a break will aim at the 1,260.00 level. A turn above there will expose the 1,270.00 level. Further out, resistance stands at the 1,280.00 level. All in all, GOLD looks to weaken further on bear pressure.
AUDUSD: Weakens, Faces Further Bear Pressure
AUDUSD. The pair continues to hold on to its downside pressure leaving risk lower. On the downside, support resides at the 0.7500 level where a breach will aim at the 0.7450 level. Below that level will set the stage for a run at the 0.7400 level with a cut through here targeting further downside pressure towards the 0.7350 level. On the upside, resistance lies at the 0.7600 level. A cut through here will turn attention to the 0.7650 level and then the 0.7700 level where a violation will set the stage for a retarget of the 0.7750 level. On the whole, AUDUSD remains biased to the downside nearer term.
EURGBP: Continues To Retain Its Upside Pressure
EURGBP- The cross continues to retain its short term uptrend as it looks to resume upside pressure. Support lies at the 0.8800 level where a violation will turn focus to the 0.8750 level. A break will expose the 0.8700 level. Resistance resides at the 0.8850 level where a violation if seen will turn risk towards the 0.8900 level. Further up, resistance resides at 0.8950 level followed by the 0.9000 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURGBP remains biased to the upside on recovery.
GBPUSD: Recovers Higher Within Trading Range
GBPUSD: The pair continues to face upside pressure but within its established range. 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 continues to face upside threats.
EURUSD: Rejects Lower Prices, Eyes Further Recovery
EURUSD: With the pair seeing rejecting lower prices to close higher the past week, further bullishness is likely. 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 weekly RSI is bullish and pointing higher suggesting more strength. Conversely, 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. All in all, EURUSD faces further upside threats on price rejection.
USDJPY: Looks To Recover Higher Nearer Term
USDJPY: The pair is now see a move higher with more strength envisaged. On the downside, support comes in at the 111.00 level where a break if seen will aim at the 110.50 level. A cut through here will turn focus to the 110.00 level and possibly lower towards the 109.50 level. On the upside, resistance resides at the 112.00 level. Further out, we envisage a possible move towards the 112.50 level. Further out, resistance resides at the 113.00 level with a turn above here aiming at the 113.50 level. On the whole, USDJPY looks vulnerable to the downside.
EURUSD: Rallies Strongly on Price Reversal
EURUSD: With the pair seen rallying on Tuesday following its Monday price reversal, more strength is envisaged in the days ahead. 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. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will aim at the 1.1150 level. All in all, EURUSD faces further upside pressure.
GBPUSD Remains Bullish, Eyes Further Upside Pressure
GBPUSD: The pair continues to face upside pressure following its higher close on Tuesday. Support lies at the 1.2750 level where a break will turn attention to the 1.2700 level. Further down, support lies at the 1.2650 level. Below here will set the stage for more weakness towards the 1.2600 level. Conversely, resistance stands at the 1.2850 levels with a turn above here allowing more strength to build up towards the 1.2900 level. Further out, resistance resides at the 1.2950 level followed by the 1.3000 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD continues to face upside threats.
USDJPY Bullish, Threatens Further Upside Pressure
USDJPY: The pair continues to press higher as it saw price extension during Thursday trading today. On the downside, support comes in at the 112.00 level where a break if seen will aim at the 111.50 level. A cut through here will turn focus to the 111.00 level and possibly lower towards the 110.50 level. Its daily RSI is bullish and pointing higher suggesting further u[side pressure. On the upside, resistance resides at the 113.00 level. Further out, we envisage a possible move towards the 113.50 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. On the whole, USDJPY looks to strengthen further in the days ahead.
EURGBP Closes Lower On Higher Price Rejection
EURGBP- The cross closed lower the past week after rejecting higher prices. This development now leaves risk lower as we enter a new week. Support lies at the 0.8700 level where a violation will turn focus to the 0.8650 level. A break will expose the 0.8600 level. Resistance resides at the 0.8800 level where a violation if seen will turn risk towards the 0.8850 level. Further up, resistance resides at 0.8900 level followed by the 0.8950 level. All in all, EURGBP remains biased to the downside on price rejection.
EURUSD: Rallies, Remains On Bullish Offensive
EURUSD: The pair closed higher on a rally the past week leaving risk of price extension on the cards. Resistance comes in at 1.1500 level with a cut through here opening the door for more upside towards the 1.1550 level. Further up, resistance lies at the 1.1600 level where a break will expose the 1.1650 level. Its weekly RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1400 level where a violation will aim at the 1.1350 level. A break of here will aim at the 1.1300 level. All in all, EURUSD faces further upside pressure.
GOLD: Bearish, Risk Remains Lower With Eyes On 1,236.02
GOLD: The commodity continues to face downside pressure leaving risk to the downside. On the downside, support comes in at the 1,230.00 level where a break will turn attention to the 1,220.00 level. Further down, a cut through here will open the door for a move lower towards the 1,210.00 level. Below here if seen could trigger further downside pressure targeting the 1,200.00 level. Conversely, resistance resides at the 1,250.00 level where a break will aim at the 1,260.00 level. A turn above there will expose the 1,270.00 level. Further out, resistance stands at the 1,280.00 level. All in all, GOLD looks to weaken further.
EURUSD Weakens Further, Risk Remains Lower
EURUSD: The pair closed lower on Monday opening the door for more weakness in the days ahead. Resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. Conversely, support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break of here will aim at the 1.1200 level. Its daily RSI is bearish and pointing lower supporting this view. All in all, EURUSD faces further downside pressure.
GOLD Recovers, Looks To Strengthen Further
GOLD: The commodity has halted its weakness and triggered a recovery higher as it lookd for more correction. On the downside, support comes in at the 1,215.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Conversely, resistance resides at the 1,230.00 level where a break will aim at the 1,240.00 level. A turn above there will expose the 1,250.00 level. Further out, resistance stands at the 1,260.00 level. All in all, GOLD looks to recover further on correction.
USDCHF: Reverses Its Losses To Close Higher
USDCHF: With the pair backing off lower prices following a reversal of its intra day losses to close higher on Friday, more strength should build up. 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. All in all, USDCHF faces further recovery threats on price reversal.
EURUSD: Continues To Retain Its Medium Term Uptrend
EURUSD: The pair continues to hold on to its upside pressure leaving risk higher in the new week. Resistance comes in at 1.1450 level with a cut through here opening the door for more upside towards the 1.1500 level. Further up, resistance lies at the 1.1550 level where a break will expose the 1.1600 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.1350 level where a violation will aim at the 1.1300 level. A break of here will aim at the 1.1250 level. Its weekly RSI is bullish and pointing higher supporting this view. All in all, EURUSD faces further upside pressure.
GBPJPY: Backs Off Higher Prices, Vulnerable
GBPJPY: The cross continues to face upside pressure but could see pullback threats in the new week having continued to reject higher prices. On the downside, support comes in at the 146.00 level where a violation will aim at the 145.50 level. A break below here will target the 145.00 level followed by the 144.50 level. Conversely, resistance is seen at the 147.00 level followed by the 147.50 level. A cut through that level will set the stage for a move further higher towards the 148.00 level. Further out, resistance resides at the 148.50 level. All in all, GBPJPY looks to pullback further.
NZDUSD: Sells Off, Resumes Downside Pressure
NZDUSD: The pair continues to face downside pressure selling on Tuesday and leaving risk lower in the days ahead. Support lies at the 0.7200 level. Further down, the 0.7150 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 0.7250 level where a break will aim at the 0.7300 level. A break of here will have to occur to create scope for a run at the 0.7350 level. Further out, resistance stands at the 0.7400 level. All in all, NZDUSD faces further downside pressure.
USDCHF Weakens, Eyes Further Bearishness
USDCHF: With the pair closing lower on Tuesday, further bearishness is envisaged. 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 suggesting further weakness. 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 faces further downside threats on price rejection.
USDJPY: Remains Bearish With Eyes On More Downside Pressure
USDJPY: The pair continues to retain its downside pressure on correction. On the downside, support comes in at the 113.00 level where a break if seen will aim at the 112.50 level. A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. Its daily RSI bearish and pointing lower supporting this view. On the upside, resistance resides at the 113.50 level. Further out, we envisage a possible move towards the 114.00 level. Further out, resistance resides at the 114.50 level with a turn above here aiming at the 115.00 level. On the whole, USDJPY looks to pullback on price rejection.
