Yesterday's bearish reaction failed to continue, and today GBP/JPY experiences a significant bullish reaction. The price has already managed to cross the 20-day SMA at 124.10, and now the currency couple is slowly moving towards the weekly PP at 124.66, which might slow down the rally. In case it fails to reverse the prevailing tendency, then next resistance at 124.97
The interim bearish trend, which started on August 22th, has finally ended, and today a slight bullish correction takes place. At the particular moment, the AUD/JPY currency couple is heading towards the weekly S1 at 81.07, which might stop the uptrend, however, if it is broken, then the price is likely to reach the monthly PP at 81.28, which in
The bullish trend, which started on August 13th, successfully managed to continue even further, and today the EUR/AUD currency couple has made another significant move upwards. As for now, the price is about to test the weekly R2 at 1.2250, which might bring some bearish impetus, however if it fails to stop the rally, then next resistance at 1.2341 (upper
The bullish correction, which occurred yesterday, managed to continue, and now the EUR/CAD currency pair is gradually approaching the monthly PP at 1.2498, which might slow down the uptrend. In case it is breached, then the price might reach the weekly R1 at 1.2550, which in turn will probably bring some bearish momentum. Additionally, RSI indicator still shows neutral signal,
Pair rebounded from Fibonacci retracement at 0.7966 and tried to advance above 200 day SMA today. However, double top pattern's momentum should push pair back below 80 cent mark.
Pairs advancement above 99 cent mark was short lived and it dropped closer to 98.5 mark. However, it is likely that trading week will end and new week will start with recovery and attempt to breach weekly pivot (PP) at 99 cent mark again.
Aussie gained today and as pair's outlook is mildly positive and the stochastic indictor sends buy it is likely that pair has reached turning point and should advance above 200 day SMA in ne trading week.
EUR/JPY is still trading in rather tight range, but tested 99 mark today. Outlook on the pair is neutral, but technical indicators suggest that new trading week might start with a sharp drop to weekly pivot S1.
USD/CHF undergoes yet another bullish correction, which is expected to end near 0.9632/36, where 100 day SMA and an accelerated downtrend resistance line are. Subsequently, the pair is likely to come under pressure and weaken as long as 0.9407/0.9395 is not attained. There we anticipate to see a strong rebound, which may pare most of the prior losses we have
After several endeavours to overcome 78.71/89 USD/JPY has finally given in and is currently headed towards a strong support at 78.13/77.98, which may provide a reason for the pair to step up despite some of the resistances situated overhead. Aside from the mentioned level at 78.71/89, 79.50/63 is also capable of halting appreciation of the U.S. Dollar in the mid-term.
The currency pair appears to be unable to sustain a rally and thus has succumbed to bears who dragged GBP/USD back down to 1.5772/48, where the price might lean on support and stabilise before attempting to gain bullish momentum once again. Resistances at 1.5796 and 1.5824 will stand in it way, but an area at 1.5891/1.5915 has proven to pose
The effect of proximity to a major downward sloping trendline comes into play, though the market is still in no hurry to sell the Euro at the moment. Nonetheless, 1.2556/1.2633 should cap the pair until it commences a full-blown decline. The initial support lies at 1.2471/63 and is followed by 1.2418, breach of which will expose a more notable level
Yesterday's bearish reaction did not manage to last for long, and today the EUR/CAD currency pair experiences a small bullish reaction, and EUR/CAD already managed to touch the 55-day SMA at 1.2404, and now the price is gradually moving towards the monthly PP at 1.2498, which will probably bring some bearish impetus. If it fails to stop the rally, then
Yesterday's bearish reaction failed to continue, and today another movement upwards takes place. As for now, the EUR/AUD currency couple slowly advances towards the monthly R1 at 1.2177, which might bring some bearish momentum, however, if it is broken, the the price might reach the weekly R2 at 1.2250, which is likely to change the direction of the current trend.
The bearish tendency, which started on August 22th, managed to continue, and now the AUD/JPY currency pair is about to reach the lower Bollinger band at 80.75, which is expected to reverse the prevailing trend, however if is breached, then the price might reach the weekly S2 at 80.24, which in turn is very likely to bring some bullish impetus.
Yesterday's bullish correction did not manage to last long, as today another bearish reaction takes place. As for now, the GBP/JPY currency couple confronts the 20-day SMA at 124.03, which might slow down the prevailing downtrend. If it fails to stop the movement downwards, then next support at 123.82 (weekly S1) will probably bring some bullish impulse. Additionally, RSI indicator
Pair continues to depreciate after forming Double Top pattern and successfully breaching patterns resistance at 0.8037. However, Bollinger band and weekly pivot (S2) close to 0.80 should provide enough support, at least in the short term, and slow down the drop.
The pair has formed a pattern which closely resembles a Double Top formation giving ground for speculations about further appreciation of the pair in the short term. This scenario is highly probable as up to 0.9942 there are no major resistance levels for the pair.
Aussie continues to loose ground against greenback. Pair's outlook Is mildly positive, the stochastic indictor send buy signal as well indicating that the pair should try to regain some of the loses in this week.
EUR/JPY remains stable today trading in 20 pip range for the whole day and is does not have enough force to breach cluster of resistance levels at 98.749. technical indicators point at appreciation of the pair so it is highly likely the pair will continue to hover around 98.6.
USD/CHF is anticipated to continue descent after a breach of 0.9577 and then to meet a subsequent support at 0.9510/04, which might slow down the pair, but is unlikely to prevent it from reaching a key area at 0.9407/0.9395. There the price is assumed to receive bullish impetus and to advance at an accelerated pace at least at the beginning
USD/JPY continues to be capped by 78.71/89, consolidating below it for six days already. The nearest support lies at 78.13/77.98 and should keep the pair away from lower levels at 77.52/34 and 76.76/56. Accordingly, the pair is expected to regain bullish momentum and target resistances, which will be encountered at 79.13 and 79.50/62.
GBP/USD is slowly recovering, but the rally appears to be fragile and might falter ahead of 1.5894/1.5915, violation of which would pave the way towards 1.5983/1.6031. Supports, on the other hand, may be found at 1.5824 and 1.5772/44— they should underpin the cable while it is attempting to commence a robust recovery and to soar up to 1.6098 in the
Being that EUR/USD has approached a major downtrend resistance line and 23.60% Fibo retracement level for a move started on October 27 last year, September promises to be bearish for the currency couple, as recent short squeezing is unlikely to develop into a self-sufficient long-term rally. Moreover, the pair is forming a rising wedge, which is considered to be a