Even though the cable did not follow the path of EUR/USD and did not decline, pace of its advancement has slowed down notably ahead of 1.6300/31, which in turn guards 1.6400/70—a wide but nonetheless dense resistance area. In this respect continuation of the current rally above the zone seems to be unlikely, being that the idea of further advancement is
After four straight days of gains EUR/USD is finally making a downward correction. Extension of the dip down to 1.3012 or 1.2935 will not put the bullish medium term outlook under risk, but will rather imply a consolidation phase. However, a breach of 1.2879/56 and 1.2806/1.2758 (200 day SMA) will be a strong bearish signal.
The interim bullish trend has ended, and today the XAU/USD exchange rate experienced a small bearish reaction, which at the particular moment is moving towards the monthly R2 at 1764, which is likely to bring some bullish impulse. In case is fails to slow down the downtrend, then next support at 1734 (weekly S1) will probably change the direction of
The tiny bearish reaction, which occurred, yesterday, was stopped today, as the GBP/JPY currency couple experienced another huge bullish advance. As for now the currency pair is heading towards the resistance level of the prevailing price channel at 128.70, however, if it is breached, then the price is very likely to reach the weekly R2 at 129.13, which in turn
Today EUR/CAD experienced another bullish correction, and at the particular moment the currency pair approaches the 200-day SMA at 1.2831, which will probably reverse the prevailing movement upwards. If it fails to stop the rally, then next resistance at 1.2864 (weekly R1) might bring some bearish impetus. Moreover, the overall indicator outlook is neutral, therefore no significant trend reversals are
The bullish trend, which started three days ago, successfully managed to advance even further, and now the EUR/AUD currency couple confronts the upper Bollinger band at 1.2529, which might slow down the uptrend. In case it is breached, then the price might advance until the monthly R2 at 1.2630, which in turn is very likely to bring some bearish momentum.
Pair demonstrates bullish correction and though it should continue to appreciate in the near term, it should rebound from any of resistance levels above current price. While continuing it's path downward pair should remain bounded by Bollinger's band.
Driven by momentum pair tried to breach summer high at 1.0612, but was firmly pushed back and is currently testing weekly pivot (PP) at 1.0493. Most likely pair will demonstrate bearish correction for few more days and stabilize before continuing to appreciate.
Pair posted for possible return back below 100, but appreciated further after receiving boost from Fibonacci (50% of move since 21st of March, 2012) at 102.765. However, pairs downside risk persists and probability of bearish correction in the near future increases further.
NZD/USD did not manage to advance above 83.5 from where it was pushed back below 83 cent mark. It is likely that the pair will be pulled back below summer high at 0.8223, after what it should hover slightly above monthly pivot (R1) at 0.8178.
The currency couple continues to breach supports one after another, giving no signs that the present bearish momentum is weakening. USD/CHF may rebound from 0.9253 to make a short-term bullish correction up to 0.9328/62, though the outlook will remain negative, largely due to absence of any notable supports nearby that could have reversed the current trend.
Friday's sharp rally did not develop into a full-blown recovery, but instead was halted by resistance at 78.35/64, implying that the pair does not carry neither upward not downward impetus and should stay bound by 78.82/99 from above and 77.71/49 from below until USD/JPY reaches an intersection of a downtrend resistance and a support line (supposedly in mid-November), which is
GBP/USD is rapidly approaching another major downtrend resistance line, which constitutes the main part of an area at 1.6400/70. The currency pair is expected to bounce off this zone and eventually return back to the levels three-four months ago, i. e. within the range 1.53-1.54. Prior to that, the cable should confront resistances at 1.6261 and 1.6331.
Resistance at 1.3140/64 somewhat delayed advancement of the pair, but may be insufficient to force it to undergo a more pronounced bearish correction. Accordingly, we are likely to see extension of a rally that is not currently facing any significant levels. Potentially, however, 1.3269 and 1.3402/25 could impede growth of the price, being that the latter is reinforced by a
Yesterday's bullish advance successfully managed to continue, and today the XAU/USD exchange rate experiences another small bullish correction. As for now the price confronts the upper Bollinger band at 1777, which is expected to reverse the prevailing tendency upwards, however, if is fails to slow down the uptrend, then next resistance at 1813 (weekly R3) is likely to bring some
The bullish trend, which started two days ago, successfully managed to continue, and today GBP/JPY experienced a huge bullish advance, which has already managed to overcome both 200-day SMA and the upper Bollinger band. At the particular moment, the currency couple is about to test the weekly R2 at 127.36, which will probably bring some bearish impulse. In case it
Today the EUR/CAD currency couple experienced a significant bullish advance, which managed to break out of the upper Bollinger band, and at the particular moment the price is slowly moving towards the weekly R3 at 1.2784, which might slow down the uptrend. If it is breached, then next resistance at 1.2835 (200-day SMA) is likely to bring some bearish impetus.
Yesterday's bearish reaction was stopped today, as the EUR/AUD currency pair experiences a huge bullish correction, which already managed to breach the 200-day SMA, and now the price is approaching the upper Bollinger band at 1.2476, which is expected to reverse the prevailing movement upwards. However, if it fails to stop the rally, then the currency couple might reach the
NZD/USD gained momentum after breaching August high at 0.8223, but at the moment it is suspended by Bollinger band at 0.8335. Stochastic indicator suggest that we should see a bearish correction, together with current market sentiment it proves that there is significant downside risk for the pair at the moment.
Pair gained momentum and in the last day lost all of its gains from this week. At the moment it is stopped by Bollinger band at 0.9573. We should see a bullish correction in the near future as it is suggested by Stochastic indicator, but pairs downside risk remains and we should see further depreciation which should remain bounded by
Pair is trying to reach new high as it is testing August high at 1.0612. In the next few days se should see a bearish correction as later level should provide strong resistance for the pair. After that pairs momentum should kick it up to above 1.065.
Pairs return below 100 was short-lived and it appreciated frantically today after breaching uptrend resistance at 101.021. Currently pair is slowed down by Fibonacci (50% of move since 21st of March) at 102.765. Further appreciation of the pair in medium and long term is very likely, as there are no stronger resistance levels on the way up, and cluster of
USD/CHF keeps on moving away from the 200 day SMA and gaining bearish momentum and that in turn implies pair's intention to penetrate some of the nearest support lines—0.9317 and 0.9253, even though technical indicators in aggregate give mixed signals. Meanwhile, rallies in the short term are to be curbed by resistances at 0.9385/0.9401 and 0.9447.
USD/JPY is still wary of going lower, as demonstrated by the pair's earlier performance, when it quickly retreated after falling below 77.40, which withstood downward pressure, but has been substantially weakened. Therefore the present dip may be extended down to 76.89/79, though should be worn down or terminated by this support area.