The bullish correction, which occurred yesterday, has failed to continue, as today EUR/CAD experienced a slight bearish downturn, which has already managed to breach the 200-day SMA at 1.2752, and now the currency pair is gradually heading towards the 55-day SMA at 1.2717, which might bring some bullish impetus. In case it fails to slow down the downtrend, then the
Today the EUR/AUD currency pair experienced a significant bearish movement, therefore supporting the interim downtrend, which started a couple of weeks ago. At the particular moment the currency couple is about to test the lower Bollinger band at 1.2327, which is expected to reverse the prevailing tendency, however, if it is broken, then the price might reach the weekly
NZD/USD retreated from 0.8276/82, but is presently unwilling to step lower, being supported by 0.8237/18. Additional obstacle in case the pair weakens is situated at 0.8198/87, though the bias on the price is largely bullish, as suggested by a majority of technical indicators. Consequently, we may anticipate resumption of an upward activity. The initial target lies at 0.8276/92, followed by
The decline initiated after an encounter with a resistance level at 1.0001/10 appears to have come to an end and USD/CAD already seems to be ready to test it once again. A breach of the 200-day SMA will imply continuation of a bullish scenario up to 1.0060/63. A close beneath will not necessarily mean a reversal, but rather a delay
AUD/USD failed to sustain a rally above 1.0398 and fell down to the 55-day SMA. Currently the price is well-positioned to commence a recovery, which should eventually result in a surge up to 1.0455/72, although 1.0361/73 and 1.0398 have the potential to postpone advancement. From below the pair is underpinned by 1.0341/35 and 1.0310/04.
The currency pair is headed towards an up-trend support line at 102.63, which prevented extension of dips since the end of July and is therefore deemed to be reliable enough to negate bearish momentum. In case the bullish line holds, the price should bounce off it and the next leg up should end around 104.95. Alternatively, the breakout is unlikely
A strong surge of USD/CHF on Nov 2 was curbed only by 0.9428/43, leaving the pair with little incentive to carry on moving higher. In case bulls continue to push the price upwards, additional resistances at 0.9460 and 0.9507/26 are ready to step in. Alternatively, formation of a down-trend should encounter supports at 0.9368/56 and 0.9322/21.
USD/JPY may yet again undergo a bearish correction before the recovery is recommenced. The price has just touched a five-month high and is expected to trim some of the recent gains. The pullback should not extend beyond 80.15, although we cannot rule out a possibility of a deeper retracement, resulting in a decline down to 79.64/55, where a previous correction
The cable stays largely undecided, refusing to leave vicinity of a major down-trend resistance line at 1.62. However, in order to test it, the currency pair will have to overcome 1.6058/65 and 1.6086/90 first, thus giving little reason to believe in a bullish outlook. Eventually, the focus is therefore likely to shift on supports, the nearest of which are located
A precipitous dip last Friday was only halted by support at 1.2801/1.2799, which still remains under the risk of being breached. This in turn would expose 1.2754/52, although it has a higher chance of withstanding bearish pressure, being formed by the 200-day SMA. A possible rally, on the other hand, should be limited by resistances at 1.2886 and 1.2923.
Today the XAU/USD exchange rate experienced a huge movement downwards, which has already managed to overcome the lower Bollinger band, and at the particular moment the exchange rate is gradually moving towards the monthly S3 at 1666, which might bring some bullish impulse. In case it fails to stop the downtrend, then the price is very likely to decline until
The interim bullish trend, which started a couple of days ago, has failed to continue, as today GBP/JPY rebounded from the monthly R1, and at the particular moment the currency pair experiences a slight bearish reaction, which is slowly heading towards the monthly PP at 128.16, which might slow down the downtrend. If it is breached, then the price is
Today the EUR/CAD currency pair experienced a significant movement downwards, which has already managed to break the 20-day SMA at 1.2860, and now the currency pair is gradually approaching the 200-day SMA at 1.2755, which is very likely to stop the prevailing movement upwards. However, if it fails to slow down the current tendency, then the price might reach the
The bearish reaction, which occurred yesterday, successfully managed to continue, as today the EUR/AUD currency couple experienced another consequent movement downwards, which at the particular moment is about to test the lower Bollinger band at 1.2348, which is expected to stop the current downtrend. In case it is breached, then the currency pair might reach the weekly S1 at 1.2301,
NZD/USD has successfully closed above 0.8271/65, meaning that the surge started on Oct 30 may be continued. However, the pair is behaving timidly, implying currently extant indecision in the market. Once the rally is recommenced, 0.8324/37 could fall the first victim to bulls, paving the way towards 0.8407. In the meantime, possible losses are expected to be limited by 0.8218
The 200-day SMA did not permit development of an up leg and therefore initiated a bearish correction. Support at 0.9958 has already gave in, exposing 0.9923/00, which in turn may prompt buyers to activate and drive the price back to parity and possibly even higher. Technical indicators for now are mixed, adding to obscurity surrounding the near-term outlook.
The pair shows signs of weakness, but has still some room to grow before reentering the down-trend. The nearest obstacle overhead may be found at 1.0419/33, but this level should not contain the price, which could in fact rise as high as 1.0472/88. The latter level, on the other hand, is anticipated to act as a ceiling and prevent further
EUR/JPY failed to sustain the rally started this week and dipped ahead of the initial resistance at 104.10. The first support to be encountered lies at 103.39/10, although an extension of a decline is also viable. A lower level could be found at 102.63, while 102.20 will be reached provided that a violation of the up-trend support line is confirmed,
The currency couple did not capitulate after the initial failure and is attempting to overcome the 55-day SMA at 0.9361 anew. Provided that this resistance eventually gives in, the area at 0.9398/0.9440 should enforce a reversal and prevent further rally. Regardless, the bias stays from neutral to negative, with the nearest supports situated at 0.9331/12 and 0.9276.
The first test of bullish momentum is underway, since the currency pair has reached the level of a previous high and the weekly R1 at the same time—80.27/37. Successful penetration of this mark will pave the way towards 80.61 while preserving capability to advance even further, to 80.89/90. Nonetheless, by giving mixed signals technical indicators suggest such scenario may be
GBP/USD still resides in proximity of 1.6166/80, being underpinned by the 1.6086/47 zone. However, with each new day the chance of a decline increases, this should bring the price down to 1.5964/51 initially, with a potential subsequent dip to 1.5895, the 100-day SMA. Weekly perspective suggests the cable stays buoyant at least until the weekend.
Strong selling in the 1.2962/79 area did not allow EUR/USD to continue its rally from the 55-day SMA, which is in fact in danger of being breached today. If this is the case, the next line in the sand is supposed to be at 1.2853/41, although the dip is then likely to extend down to 1.2760/57, a formidable support level
Even though the candle has not yet been completely formed, looks like bulls have finally taken control of the currency pair after a lull. Technical indicators too point to the upside. The nearest resistance that may find itself under a threat of being breached is at 0.8265, whereas 0.8324/37 promises to be a more serious obstacle. Supports at 0.8218 and
Step by step USD/CAD is inching higher as continuation of development of its leg up, started after an encounter with a lower edge of a bearish channel, within which the pair has been fluctuating for more than a year. Consequently, the current bias is positive, although the advancement is likely to be cushioned by an up-trend line presently providing resistance