The cable is persistently moving towards a cluster of resistances at 1.6400/43; it has already pushed through 1.6163/77. The next objective for the pair lies at 1.6292 despite the bearish readings of technical indicators, which are likely anticipating downward correction GBP/USD will have to undergo at some of the levels situated overhead.
Recent rally of EUR/USD appears to be overextended, accordingly, probability of a more distinct pullback than we saw after confrontation with the 200 day SMA increases, although there are currently few reasons for the Euro to weaken in the absence of any notable resistances located nearby. Among those level that are potentially capable of delaying advancement are 1.3140 and 1.3400/34.
Today the XAU/USD exchange rate experiences a small bullish advance, and now the price is slowly moving towards the upper Bollinger band at 1753, which is expected to reverse the uptrend. In case it is breached, then the price might advance even further and reach the monthly R2 at 1764, which in turn will probably bring some bearish momentum. Additionally,
Yesterday's bullish correction has ended, and today GBP/JPY experiences a significant bearish reaction, which has already managed to overcome the weekly PP at 125.12. At the particular moment the currency couple is about to test the 20-day SMA at 124.69, which might bring some bullish impetus. In case it is broken, then the price might reach the weekly S1 at
The bearish tendency, which started two days ago, failed to continue, as today the EUR/CAD currency pair experiences a small bearish reaction. As for now, the price is slowly approaching the monthly R1 at 1.2554, which will probably bring some bullish impulse. In case it is breached, then next support at 1.2471 (weekly PP) might stop the prevailing movement downwards.
Yesterday's bullish correction successfully managed to continue, and today the EUR/AUD currency couple experiences another bullish advance, which at the particular moment is gradually heading towards the weekly R1 at 1.2389, which might slow down the tendency upwards. However, if it fails to stop the rally, then the price might reach the 200-day SMA at 1.2415, which is expected to
NZD/USD continues to appreciate and furiously tries to reach new highs. Currently pair is already trading at the highest levels since end of April. Pairs advance remains bounded by Bollinger band and pairs downside risk increases as Stochastic indicator points at possible bearish correction in the near future, which is likely to be slowed down at 0.8223 and 0.8184/78.
Pair appreciated further today, but it seems that effects of Double Top formation on 1H chart yesterday are wearing of and pair will resume its depreciation in the near future. On its track down pair should remain bounded by Bollinger band and downtrend support which currently are at 0.9726/11.
Pair did not managed to hold above 1.05 and it seems we will se a bearish correction which was anticipated by market participants for some time now. It is likely drop will be rather sharp, but support levels around 1.04 should hold on pair there for some time.
Pair rebounded from Bollinger's band at 100.576 and is back below 100. Cluster of resistance levels above current price and technical indicators suggest that this bearish correction should last for few more days. However, weekly PP at 99.501 should provide enough support and keep pair in tight range.
USD/CHF has effortlessly pierced through a confluence of supports at 0.9410/0.9385, signifying that proximate rallies are likely to act as bullish corrections rather than an establishment of a long-term trend. The initial support lies at 0.9317, while subsequent levels are at 0.9253 and 0.9205, but these are not viewed as probable turning points.
If we are to see more bearish action form USD/JPY, supports at 77.63 and 77.40 will come under considerable pressure, although, being that levels at 76.89/79 and 76.37 are too ready to absorb downward momentum, the pair is expected to stabilise and commence recovery. Still, daily and weekly studies give "sell" signals, implying that present weakness is going to persist
GBP/USD disregards presence of a downtrend resistance at 1.6111/13 and seems unwilling to change its upward direction despite most of technical indicators for weekly and monthly timeframes being bearish. The rally, if it drags on, is unlikely to be sustained above 1.6111/13 unless a point of intersection of uptrend resistance lines at 1.6400/43 is breached.
Against all odds the single European currency continues to appreciate. The nearest target resides at 1.2953, followed by 1.3020, and for the time being there are no signs that EUR/USD is going to terminate its rally. However, if to take heed of forecasts for the fourth quarter, the Euro appears to be overvalued according to the banks' estimates, and therefore
The bullish correction, which started yesterday, did not manage to continue, as today the XAU/USD exchange rate experienced a small bearish reaction. At particular moment the price is heading towards the weekly PP at 1727, which will probably bring some bullish impulse. However, if it is breached, then next support at 1700 (weekly S1) is expected to stop the prevailing
The bearish tendency, which started three days ago, has finally ended, and today the GBP/JPY currency couple experienced a significant bullish correction. As for now, the price is about to test the upper Bollinger band at 125.53, which is expected to change the direction of the prevailing movement. If it fails to stop the uptrend, then next resistance at 125.87
Today the EUR/CAD currency pair experienced a significant bullish advance, which has already managed to breach the upper Bollinger band and has reached a two-month high at 1.2569. At the particular moment the price is moving towards the weekly R1 at 1.2591, which will probably bring some bearish impetus. In case it it broken, then the currency couple might reach
Today EUR/AUD experienced a small bullish correction, as the price bounced off the weekly PP at 1.2323. As for now the price is slowly heading towards the current price channel support at 1.2364, which might change the direction of the prevailing tendency. In case it fails to stop the rally, then next resistance at 1.2415 (200-day SMA) is very likely
NZD/USD touched the highest level in 3 months. It is likely pair will continue to trade on such momentum for few more days, but eventually it should be pushed down by Bollinger band and psychological level (6th of August high) at 0.8219/23.
Pair demonstrated mild gains today after forming a Double top pattern on 1H chart. However, pairs downside risk remains, strongly limiting its upside potential. It is likely pair will continue to follow path paved by Bollinger band and downtrend support.
Pair touched 1.5051 today, the highest level in more than 3 weeks. However, it was pulled back to downtrend support, which, taking in to account readings of technical indicators, might signal a major bearish correction of the pair in the near future.
Pair managed to breach psychological 100 level today, however it has not gain momentum as expected indicating that traders are not yet convinced that this advancement will last long. It is likely that Bollinger band at 100.440, where the pair is now, and uptrend resistance at 100.785 will put some pressure on the pair slowing it down and eventually pushing
Absence of a strong rebound from an uptrend support at 0.9410/0.9385 implies that the market is already not recognizing and respecting this line due to its obsolescence. Nevertheless, this could not yet be predicated. Only once USD/CHF closes below 0.9385 and the area is fully breached, the long-term outlook will be changed to negative.
USD/JPY has nearly violated support at 77.98/81, and the risk of an extension of the dip still persists, since in aggregate indicators give a "sell" signal on a weekly timeframe. Nonetheless, 77.63 in conjunction with 77.40 are expected to withstand bearish pressure and preserve neutral outlook, which is anticipated to slowly turn into a bullish one.