The cable is persistently getting closer to a major downtrend resistance line at 1.6083/99, where its current bullish impetus is expected to be changed to a bearish one. GBP/USD has already faced difficulties at 1.6021/25, implying that considerable selling pressure will not allow the pair to carry on stepping higher. Accordingly, the price should soon refocus on supports, the nearest
Resistance at 1.2806/08 stopped advancement of the currency pair, which is likely to consolidate before attempting to continue its upward movement. Subsequent levels are at 1.2864/1.2907 and 1.2953, but eventually should give in case bullish momentum proves to be preserved. In the meantime, dips are to be contained by supports at 1.2765 and 1.2704.
The uptrend, which started yesterday, successfully managed to continue, and today the XAU/USD exchange rate experienced a significant bullish advance, which has already managed to overcome the upper Bollinger band at 1733, ad now the price is gradually heading towards the weekly R3 at 1752, which might slow down the uptrend. In case it is broken, then the exchange rate
Yesterday's bullish movement failed to breach the 200-day SMA at 123.21, and now the GBP/JPY currency pair experiences a bearish reaction. The currency couple has already managed to cross the weekly R2 at 125.35, and now the price confronts the weekly R1 at 124.79, which might stop the current downtrend. However, in case it fails to reverse the trend, then
The bearish trend, which started yesterday, did not manage to last long, as the EUR/CAD currency couple rebounded from the weekly PP at 1.2416, and now the price is slowly approaching the weekly R2 at 1.2552, which is likely to bring some bearish impetus. If it it breached, then the price might reach the upper Bollinger band at 1.2581, which
Yesterday's bearish reaction did not manage to continue today, and the EUR/AUD currency pair experienced another bullish correction, thus supporting the prevailing interim uptrend. As for now, the price has reached the weekly R1 at 1.2315, and now it is heading towards the 200-day SMA at 1.2389, which is very likely reverse the direction of the prevailing movement. In
EUR/USD carries on moving forward despite weekly and monthly indicators being bearish. The initial resistance is at 1.2651, followed by 1.2696 and 1.2730/65, although the 200 day SMA in conjunction with a downtrend resistance line is viewed as having the highest chance of occluding further appreciation of the Euro. In the meantime, supports are at 1.2558/09 and 1.2479/49.
The currency couple continues to be weighed upon by an accelerated downtrend resistance line, which constrains bullish activity of the pair, resulting in lower highs. Since support at 0.9562/53 has been eroded, 0.9489/69 is anticipated to come under pressure next, whereas 0.9429/0.9398 might prove to be a turning point.
USD/JPY has sped up development of its rally and has already surged above 78.64/78, meaning that the next resistance that is likely to fall a victim to bulls is at 79.04/09. Additional levels are at 79.34/38 and 79.55/68 and should also be challenged by the pair fairly soon, since support at 78.04/77.98 is able to absorb downward momentum and restore
The cable has finally gathered sufficient bullish impetus and pushed through 1.5922, thus a road towards 1.5964/79 has been opened. Additional resistances may be found at 1.6021 and especially at 1.6063/93—an area where a major downtrend resistance line is supposed to be met. Until the latter level is reached, the outlook should remain positive.
Yesterday's bearish reaction did not manage to continue, and today the XAU/USD exchange rate experienced a major bullish advance. At the particular moment, the price confronts the weekly R1 at 1705, however, when it is breached, then the exchange rate might reach the upper Bollinger band at 1725. In case it fails to stop the rally, then next resistance at
Today EUR/CAD experienced a significant bearish reaction, which managed to cross the weekly R1 at 1.2476 and the weekly PP at 1.2416. As for now the currency couple is gradually approaching the 55-day SMA at 1.2363, which is expected to bring some bullish impetus. If it fails to stop the prevailing downtrend, then next support at 1.2281 (weekly S2) is
Yesterday's bullish correction did not manage to last long, and today the EUR/AUD currency couple experiences a significant bearish reaction, which has already crossed the weekly R1 at 1.2314. At the particular moment, the currency pair is slowly heading towards the weekly PP at 1.2164, which will probably bring some bullish impulse, however, if it is breached, then the price
The bullish tendency, which started three days ago, successfully manages to advance even further, and today the GBP/JPY currency pair has experiences a significant rally, which has already managed to breach the upper Bollinger band at 125.12. As for now, the price is about to face the weekly R3 at 125.90, which might slow down the movement upwards. In case
NZD/USD is headed towards 0.8027/51, as no other resistance below it currently possesses a threat to persisting bullish tendency. Nevertheless, the 55 day SMA, in conjunction with the 200 day SMA, is not anticipated to give in and allow reversal, on the contrary, it is supposed to enforce continuation of a decline started on August 7.
The pair is getting closer to the lower line of the major downward sloping channel that stretches from 0.9736/25 up to 1.0402. Accordingly, prior to commencing long-term recovery, price is expected to decline below an initial support line at 0.9853 and penetrate some of the subsequent levels, including 0.9826 and 0.9789/69.
AUD/USD received a considerable bullish charge at 1.0194/73, the zone that is mainly reinforced by 100 day SMA, and has already overcome the nearest level at 1.0222, confirming potential to advance. Since no notable resistances are situated until 1.0318/40, the present rally may extend up to 200 day SMA, though is likely to be capped there.
The currency pair has effortlessly pierced through a confluence of resistances at 99.01/17 after confronting an uptrend support line, but was stopped by 99.58, and is currently pulling back, implying lack of bullish impetus. The rally looks fragile also due to a strongly bearish signal by technical indicators for a weekly time frame, therefore a downside risk continues to increase.
The U.S. Dollar has recently decelerated the pace of depreciation against the Swiss Franc ahead of an uptrend support, though this is not expected to be the case once 0.9562/53 is violated—the event that will pave the way for the pair to reach 0.9429/0.9398. There USD/CHF will have a significant chance to regain lost on July 29 bullish momentum.
Neither bulls nor bears currently appear to be capable of moving the currency couple, resulting in absence of any activity of the pair since August 23. Still, a decline to 78.04/77.98, likelihood of which has increased according to the signals of most of the technical studies, might trigger a bullish motion, which in turn may evolve into a prolonged rally—above
Weekly pivot point prevented further loss of value by the British Pound and aided the pair in recovering. Nonetheless, resistance at 1.5922/48 has once again halted the rally, implying that GBP/USD will continue gravitating towards 1.5806/1.5755, although the outlook will not be changed to negative unless the area at 1.5806/1.5755 is breached.
Yesterday the pair closed above a downtrend resistance line and thereby has confirmed its intentions to advance further. In the short run EUR/USD is likely to stay bullish, but longer perspective remains in question, as formidable resistance at 1.2810/35 could potentially deny upward momentum and return the price back within a downtrend channel.
Today the XAU/USD exchange rate experienced a small movement upwards, and now the price is gradually approaching the weekly R1 at 1705, which might bring some bearish momentum. In case the uptrend is strong enough to break it, then the exchange rate might reach the upper Bollinger band at 1722, which in turn is very likely to reverse the prevailing
Yesterday's bearish reaction did not manage to last long, and today EUR/CAD experiences a significant bullish correction, which has already managed to cross the weekly R1 at 1.2476. Currently, the price is slowly moving towards the upper Bollinger band at 1.2584, which is expected to change the direction of the present movement. In case it is broken, then next resistance