Daily Technical Strategy On Currencies by FXTechstrategy

GBPUSD: Declines On Price Correction

GBPUSD: The pair saw a follow through lower on the back of its Tuesday weakness. Support lies at the 1.4200 level where a break will turn attention to the 1.4150 level. Further down, support lies at the 1.4100 level. Below here will set the stage for more weakness towards the 1.4050 level. Conversely, resistance stands at the 1.4250 levels with a turn above here allowing more strength to build up towards the 1.4300 level. Further out, resistance resides at the 1.4350 level followed by the 1.4400 level. On the whole, GBPUSD remains biased to downside on correction

EURJPY: Strengthens But With Caution

EURJPY: The pair looks to consolidate further though seen strengthening on Thursday. On the downside, support comes in at the 132.50 level where a break if seen will aim at the 132.00 level. A cut through here will turn focus to the 131.50 level and possibly lower towards the 131.00 level. On the upside, resistance resides at the 133.50 level. Further out, we envisage a possible move towards the 134.00 level. Further out, resistance resides at the 134.50 level with a turn above here aiming at the 135.00 level. On the whole, EURJPY faces further consolidation threats.

GBPUSD: Weakens On Further Bear Pressure

GBPUSD: The pair saw further weakness following its past week losses. Support lies at the 1.3950 level where a break will turn attention to the 1.3900 level. Further down, support lies at the 1.3850 level. Below here will set the stage for more weakness towards the 1.3800 level. Conversely, resistance stands at the 1.4000 levels with a turn above here allowing more strength to build up towards the 1.4050 level. Further out, resistance resides at the 1.4100 level followed by the 1.4150 level. On the whole, GBPUSD remains biased to downside on further weakness.

EURUSD: Remains Bearish But With Caution

EURUSD: The pair extended its weakness the past week though backing off mildly on Friday. On the upside, resistance comes in at 1.2150 level with a cut through here opening the door for more upside towards the 1.2200 level. Further up, resistance lies at the 1.2250 level where a break will expose the 1.2300 level. Conversely, support lies at the 1.2050 level where a violation will aim at the 1.2000 level. A break of here will aim at the 1.1950 level. Below here will open the door for more weakness towards the 1.1900. All in all, EURUSD faces further downside threats.

EURUSD: Remains Vulnerable But With Caution

EURUSD: The pair closed lower the past week with more decline envisaged. However, a move higher on correction is envisaged. On the upside, resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break will expose the 1.2150 level. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. Below here will open the door for more weakness towards the 1.1750. All in all, EURUSD faces further downside threats.

EURUSD: The pair faces further bear pressure as it continues to hold on to its bear pressure. On the upside, resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD faces further downside pressure.

EURUSD: Weakens Further, Eyes The 1.1700 Zone

EURUSD: The pair faces further bear pressure as it continues to hold on to its bear pressure after closing lower on Friday. On the upside, resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD faces further downside pressure.

USDCHF: Remains Vulnerable To The Downside On Corrective Pullback

USDCHF: The pair looks to weaken further in the new week on corrective pullback threats. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0200. All in all, USDCHF faces further corrective downside pressure

USDJPY: Loses Downside Momentum, Recovers

USDJPY: The pair saw price recovery on Wednesday on Tuesday as it looks to weaken further. On the downside, support lies at the 108.50 level where a break if seen will aim at the 108.00 level. A cut through here will turn focus to the 107.50 level and possibly lower towards the 107.00 level. On the upside, resistance resides at the 109.50 level. Further out, we envisage a possible move towards the 110.00 level. Further out, resistance resides at the 110.50 level with a turn above here aiming at the 111.00 level. On the whole, USDJPY faces further downside pressure.

USDCHF: Remains Vulnerable On Pullback

USDCHF: The pair looks to weaken further as it closed lower the past week. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0100. All in all, USDCHF faces further corrective downside pressure.

EURUSD: Risk Remains Higher On Correction

EURUSD: The pair faces recovery higher leaving risk higher. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further upside pressure

EURUSD Builds Up On Bull Pressure

EURUSD: The pair faces further recovery higher in the days ahead as it saw more bull pressure on Wednesday. On the upside, resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD faces further upside pressure on recovery.

EURUSD: Bullish, Looks To Recover Further Higher

EURUSD: The pair faces further recovery higher having closed higher the past week. On the upside, resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD faces further upside pressure on recovery.

USDJPY: Remains On The Offensive

USDJPY: The pair looks to recover further higher as it continues to hold on to its upside pressure. On the downside, support lies at the 110.00 level where a break if seen will aim at the 109.50 level. A cut through here will turn focus to the 109.00 level and possibly lower towards the 108.50 level. On the upside, resistance resides at the 110.50 level. Further out, we envisage a possible move towards the 111.00 level. Further out, resistance resides at the 111.50 level with a turn above here aiming at the 112.00 level. On the whole, USDJPY faces further upside pressure short term.

GBPUSD: Closes Lower On Price Sell Off

GBPUSD: The pair faces further weakness as it closed lower on sell off on Thursday. 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. Its daily RSI remains biased to the downside suggesting more declines. 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 remains biased to downside pressure on trend resumption.

USDCHF: Retains Downside Pressure Outlook

USDCHF: The pair continues to look vulnerable to the downside as it closed lower the past week. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9900 level where a break will clear the way for more strength to occur towards the 0.9950 level. Further out, resistance comes in at the 1.0000 level. Above here if seen will turn attention to 1.0050. All in all, USDCHF faces further corrective pullback pressure.

GBPUSD: The pair faces further price strength after it rejected lower prices to press higher on Friday. Support lies at the 1.3150 level where a break will turn attention to the 1.3100 level. Further down, support lies at the 1.3050 level. Below here will set the stage for more weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3250 levels with a turn above here allowing more strength to build up towards the 1.3300 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD remains biased to upside on correction

EURUSD: Risk Remains Higher On Recovery

EURUSD: The pair may have hesitated on Thursday but still looks to weaken further. On the upside, resistance comes in at 1.1750 level with a cut through here opening the door for more upside towards the 1.1800 level. Further up, resistance lies at the 1.1850 level where a break will expose the 1.1900 level. Conversely, support lies at the 1.1650 level where a violation will aim at the 1.1600 level. A break of here will aim at the 1.1550 level. Below here will open the door for more weakness towards the 1.1500. All in all, EURUSD faces further upside pressure but with caution of a recovery.

GBPUSD: Looks To Correct Further Higher

GBPUSD: The pair faces further upside pressure as it reversed its losses to close higher on Tuesday. Support lies at the 1.3150 level where a break will turn attention to the 1.3100 level. Further down, support lies at the 1.3050 level. Below here will set the stage for more weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3250 levels with a turn above here allowing more strength to build up towards the 1.3300 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD remains biased to upside on correction

EURUSD: Strengthens, Risk Continues To Point Higher

EURUSD: The pair faces further upside on recovery as it looks for further price extension. On the upside, resistance comes in at 1.1750 level with a cut through here opening the door for more upside towards the 1.1800 level. Further up, resistance lies at the 1.1850 level where a break will expose the 1.1900 level. Conversely, support lies at the 1.1650 level where a violation will aim at the 1.1600 level. A break of here will aim at the 1.1550 level. Below here will open the door for more weakness towards the 1.1500. All in all, EURUSD faces further upside pressure on corrective recovery.

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