A small bearish correction, which occurred yesterday, has ended, and now the EUR/CAD currency pair regained its bullish momentum. If the rally prevails, then the price might reach 1.2439 (Price channel resistance), which is likely to reverse the trend, however if it fails to stop the uptrend, then next resistance at 1.2503 (upper Bollinger band) will probably bring some bearish impulse. Nevertheless, RSI indicator shows neutral
For a couple of weeks AUD/JPY has been following the rising wedge pattern, and yesterday's decline was stopped by a weekly PP at 82.61, where the price reversed its movement direction. As for now, the currency pair confronts monthly R1 at 83.06, which might slow down the bullish trend, but if it is breached, then next resistance at 83.28 (Psychological) will probably change the prevailing
Yesterday's bearish reaction has ended, and now another bullish advance takes place, however, the GBP/JPY movement still remains within the falling wedge pattern. The GBP/JPY currency pair already managed to reach a 20-day SMA and now the price is slowly advancing further towards the monthly PP at 122.90, which might serve as the resistance level for the current rally. In case the price manages to
Although Kiwi was stable against the greenback today, it is expected that pair's bullish bias will end soon and pair will start depreciating in the near future as pair is approaching weekly and daily pivot points at 0.8228 and 0.8270 which it is not likely to breach. It is highly likely that first target on its path down will be daily pivot at 0.8167 breach
The US dollar is holding grounds right now, trading close to 1.0023 and attempting to move higher. For now the pair seemed to stabilize, presenting a chance for bullish traders to change the price direction. Therefore, 1.0023 (PP Weekly) might become the first resistance level, followed by 1.0079 (200-day SMA) and 1.0119 (50% Fibo) in case of a successful breakout.
Bulls don't lose hope to advance higher and at the moment the pair is fluctuating around 1.0574 (23.60% Fibo). A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
EUR/JPY started a week lower after Friday's rally, yet on Tuesday the pair managed to pair gains after touching 96.80 (PP Weekly). If bullish momentum emerges, then 97.93 (61.80% Fibo) is likely to be the first resistance, and if it is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.
Buying pressure at 0.9680/41 did not manage to lift the currency pair considerably, leaving it below an uptrend. Nonetheless, bullish activity by USD/CHF is still expected to be reignited, which in turn is supposed to lead to gains until 0.9952/1.0003 in the medium-term. Notable supports are at 0.9583 and 0.9519/0.9478 and should contain dips.
USD/JPY commences another attempt to recover after breaking out of a downtrend resistance. According to technical indicators the bullish momentum, however, is not strong enough to be capable of overcoming all the resistances that are scattered overhead and are preventing prolonged rallies. The initial obstacle is located at 78.42/43, followed by 78.71 and 78.95/79.11.
Recovery of the cable proved to be short-lived as the currency pair has slipped before reaching 1.5731/74 and is rapidly returning to an uptrend support at 1.5540/17. GBP/USD has already pierced through 1.5624/08 and 1.5589, but should be stopped by 1.5540/17. Additional supports lie at 1.5466/50 and 1.5383, though are unlikely to be tested today.
EUR/USD was unable to sustain a rally above 1.2407/56 and is currently headed towards the nearest support level at 1.2337/34. Extension of the dip will encounter 1.2259/26, but it is also expected to give in eventually and thus pave the way to 1.2061/1.1996. In the meantime, if the rallies do occur, they are likely to be capped by a key
GBP/JPY currency pair has already been following the falling wedge pattern for some time. The bullish movement was stopped, when the price touched resistance line of the wedge at 123.03, and now a strong bearish correction takes place. The price is heading towards weekly S1 at 121.57, which might slow down the current declineIn case 121.57 fails to stop the movement downwards, then next support
The Kiwi dollar stood steadily today, keeping a positive stance against the greenback. Therefore, if bullish inertia intensifies, 0.8229 (R1 Weekly) might become an initial resistance level for bullish traders. A breach of this line would expose 0.8258 (Upper Bollinger band) and 0.8319 (61.80% Fibo), respectively.
The US dollar is trading slightly lower against the Canadian dollar compared to Friday. For now the pair seemed to stabilize, presenting a chance for bullish traders to change the price direction. Therefore, 1.0023 (PP Weekly) might become the first resistance level, followed by 1.0079 (200-day SMA) and 1.0119 (50% Fibo) in case of a successful breakout.
Bulls continue adding to gains on AUD/USD and right now the currency pair is floating around recent high at 1.0574 (23.60% Fibo. A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
EUR/JPY started a week slightly lower after a strong rally last Friday. If bullish trend holds further, then 97.93 (61.80% Fibo) is likely to be the first target to be tested by bullish investors. If this level is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.
Although RSI indicator shows neutral signal, AUD/JPY experienced a huge rally on the 3rd of August, however a trend reversal happened, and now the price follows a downward trend, and is about to reach weekly PP at 82.57, which might prove to be support for the current decline. If it is broken, then the bearish tendency is likely to advance even further until 200-day SMA
Bullish advance, which started two days ago, was stopped, and now a bearish reaction takes place. The movement downwards has already managed to reach weekly PP at 1.1716 and now EUR/AUD is gradually moving towards weekly S1 at 1.1657, which might bring some bullish momentum for the price, but, if the currency pair manages to breach it, then next support at 1.1631 (lower Bollinger band)
EUR/CAD experienced a huge bullish correction on August 3rd, followed by another smaller rally yesterdayAs for now, the currency couple experiences a bearish reaction, which already managed to close the recently established upside gap, and now the price is slowly approaching a 20-day SMA at 1.2357, which might serve as a support level for the current dip. In case the price manages to break through,
The currency couple attempted to push through 0.9707/0.9656, but was unsuccessful, thus pointing to its potential to resume recovery. Resistance at 0.9738/40 will stand first on its way upwards, whereas 0.9803/25 and 0.9950/1.0003 will also slow down advancement of the pair, which is not anticipated to be sharp, given mixed signals on daily and monthly timeframes.
USD/JPY has pierced through a downtrend resistance, but proved to be incapable of surging further by bouncing off 78.71. An interim support at 78.48/43 is being eroded and may soon give in, allowing the price to drop to 78.08/77.87, below which lies subsequent levels at 77.56 and 77.34/21. In order to change the long-term outlook to bullish, USD/JPY will have
Rebound of the pair from 1.5517 last week confirms intentions of the cable to trade above an uptrend support and thus rechallenge a key resistance area that stretches from 1.5730 (200 day SMA) to 1.5775 (Bollinger band). Nonetheless, this zone is unlikely to be breached in near future and will cap the pair for now, while closest supports are to
EUR/USD still preserves some bullish momentum since Friday, as suggested by technical indicators on a daily timeframe. However, it is expected to wane afterwards, since resistance at 1.2410/40 is already proving the present rally of the pair to be fragile. Further appreciation of the Euro will encounter levels at 1.2535 and 1.2633/44, while dips will be limited by supports at
Bearish trend, which was started on July 30th was paused today, and now a bullish correction takes place. Further GBP/JPY advance might find resistance at 20-day SMA at 122.59, but if it fails to reverse the current trend, then next resistance at 122.90 (Monthly PP) will probably bring some bearish impetus. At the same time, RSI indicator shows neutral signal, therefore no sudden tendency reversal