The bearish tendency managed to prevail, as today the EUR/AUD currency couple experienced another consequent bearish decline, and at the particular moment the price is about to test the monthly R1 at 1.2555, which might bring some bullish impulse. In case it fails to stop the downtrend, then the currency pair is likely to reach the 20-day SMA at 1.2523,
Pair is continuing to demonstrate choppy sessions. Together with readings of technical indicators it strengthens the opinion that pair is somewhat range bound by Bollinger band and weekly pivot at 0.8224 and it would not be much of a surprise if it would rebound once again from latter level.
More and more signs point that bullish impetus is wearing of and that major bearish dip for the pair is just around the corner. However, taking in mind dynamics of market sentiment and shortage of major technical levels it seems pair is mostly influenced by monthly pivot point around 0.98 at the moment and might be range bound between it
Pair resumes its recovery after bearish correction yesterday and is currently hovering slightly above weekly pivot point at 1.0241. Most likely bullish momentum will persist for some time more, but ,as expected after formation of double top and supported by technical indicators, pair should attempt to breach cluster of support levels at 1.0160/133 pretty soon. 200 bar SMA at 1.03
Pairs path on forming a clean double top pattern was cut short as it received strong bullish impetus from 100.55/54 which was enough to breach 101 JPY mark. This increases chances that pair will test, and most likely breach, 20 bar SMA at 101.26 pretty soon making Fibonacci retracement (23.6% of 25th of July-17th of September move) at 101.58.
The price has disregarded a downtrend resistance at 0.9340/52 and soared up to 0.9406/46, thus forming a double bottom pattern, which implies a robust rally once the neckline is penetrated. The initial goal would then be at 0.9493/0.9503, while continuation of a surge could push the pair up to 0.9569/89. On the other hand, indicators give mixed signals.
USD/JPY remains in proximity to a formidable support zone that stretches from 78.18 down to 77.99 and the pair is reluctant at the moment to challenge it. Still, since the price has recently bounced off a downtrend resistance line, it is anticipated to continue sliding lower. The next notable support should be found at 77.53/37, which is unlikely to give
GBP/USD declined along with EUR/USD, although to a more modest extent. The currency couple is presently attempting to overcome 1.6000/1.5967 and is expected to remain on a bearish path, even though a chance of a consolidation/correction increases. The next target lies at 1.5911, while the nearest serious threat to current downward tendency is located at 1.5828/04 (200-day SMA).
After breaching 1.2963/39 the currency pair dived to 1.2856/26 yesterday, which holds for now, but is nevertheless being eroded. The support is reinforced by a subsequent level at 1.2799/84, meaning that together they are likely to withstand bearish pressure. However, if this key area is breached, the medium-term outlook will be changed to a negative one.
The bearish movement, which started three days ago, managed to continue, and today the XAU/USD exchange rate experienced another consequent bearish reaction. At the particular moment the price is gradually approaching the 20-day SMA at 1771, which might bring some bullish impulse. If it is breached, then next resistance at 1762 (weekly S1) will probably stop the current movement downwards.
The bearish reaction, which occurred yesterday, failed to continue, as today the GBP/JPY currency pair experienced a slight bullish correction. As for now, the price faces the weekly S1 at 125.73, which might bring some bearish momentum, however if it is broken, then the currency couple is expected to reach the 200-day SMA at 126.29, which in turn is very
Yesterday' s bullish reaction successfully managed to continue today, and now the EUR/CAD currency couple confronts the weekly S1 at 1.2613, which will probably bring some bullish impulse. In case it is breached, then the price might reach the lower Bollinger band at 1.2568, which in turn is expected to reverse the prevailing movement downwards. Moreover, RSI indicator still remains
The downtrend, which started a couple of days ago, successfully managed to prevail, as today EUR/AUD has already managed to drop below the weekly PP, and at the particular moment the price is heading towards the monthly R1 at 1.2555, which might bring some bullish impetus, however, if it fails to stop the downtrend, then next resistance at 1.2499 (weekly
Pair seems to be range (0.8249-0.8161) bound for almost a week now. Further containment in this area is very likely as vast number of indicators give neutral signals. However, as quite a lot of pressure on the pair seems to be coming from 0.8249 area, drop to 0.8178 or 0.8161 is highly likely in the near future.
Bullish stimulus seemed to be playing out last few days, but technical indicators point at another bearish rally in the short term as pair received a push from downtrend resistance (connects 2nd of August and 5th of September highs) at 0.9760. However, longer term indicators send almost unanimous sell signal suggesting that 0.98 area might be unreachable for the pair.
Bearish impetus for the pair was not strong enough and did not help it to breach a cluster of support levels at 1.0160/133 area and it is rather safely hovering above major (psychological) level of 1.02. As technical indicators point at increase of downside risk, pair might try to step up to 1.03 area, but attempt to dip below 1.0160
Pair has formed a neat double top pattern and continues its move towards patterns support in 100 JPY area. Although bearish impetus after peaking at 102.798 was rather strong, but pair should face significant difficulties while trying to breach support levels around 101 JPY (uptrend support connecting 24th of July and 5th of September lows). After this stop pairs bearish
USD/CHF closes in on 0.9340, confrontation with which could decide pair's direction in the medium term. If 0.9340 withstands bullish impetus, the price will be anticipated to retest 0.9251/44 with a possibility to decline even further. Alternatively, breach of 0.9340 will pave the way towards 0.9406/26—potential neck line of a double bottom pattern, such scenario will speak in favour of
Support at 78.45/43 was unable to stop the pair from sliding lower, allowing it to touch a subsequent level at 78.21/77.99, which in turn has a better chance of negating downward momentum. Given that short-term indicators are largely silent, USD/JPY should remain fluctuating within a corridor formed by 78.43/45 from above and 78.21/77.99 from beneath for now, although it may
Following a precipitous drop of the cable we may expect a bullish correction to occur, which is unlikely to push the price above 1.6042/85, however. Continuation of a bearish tendency should lead GBP/USD down to 1.5988/61 initially, then 1.5911 and 1.5861, as the long-term target is supposed to be near 1.5601/1.5571, even though weekly technical indicators give "buy" signals.
Decline of EUR/USD stalled just ahead of 1.2963/57, implying that bearish correction has ended. Nevertheless, the pair is still under danger of extending the dip down to an uptrend support line, currently standing at 1.2856, prior to re-establishing robust rally in the coming days. Additional supports are at 1.2826/1.2786 and 1.2702/1.2697, while an interim resistance lies at 1.3104/51.
The downtrend, which started a couple of days ago, successfully managed to continue, as today the XAU/USD exchange rate experienced another movement downwards, which has already managed to overcome the 20-day SMA at 1771, and at the particular moment the price is about to test the weekly S1 at 1762, which might change the direction of the current movement. In
The bullish tendency, which started a couple of days ago, did not manage to continue, as today the GBP/JPY currency couple experienced a huge bearish reaction, which has managed to break the 200-day SMA at 126.29. As for now, the currency pair about to test the 55-day SMA at 125.12, which is very likely to bring some bullish impetus. In
Today the EUR/CAD currency pair experienced another bearish decline, which has managed to cross the 20-day SMA, and now the price is slowly approaching the weekly R1 at 1.2613, which might bring some bullish impulse. If it fails to stop the downtrend, then next support at 1.2579 (lower Bollinger band) will probably reverse the direction of the prevailing bearish tendency.