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
Yesterday's bullish correction failed to continue today, as the price rebounded from the 55-day SMA at 1.2413, and now the EUR/CAD currency pair is heading towards the weekly PP at 1.2355, which might bring some bullish impetus. In case it fails to stop the downtrend, then the currency couple might reach the 20-day SMA at 1.2293, which will probably change
The uptrend, which started on August 26th, has ended, and now a bearish reaction takes place. As for now, the EUR/AUD currency couple is very slowly moving towards the weekly PP at 1.1955, which is expected to reverse the prevailing movement downwards, however, if it is broken, the next resistance at 1.1908 (55-day SMA) will probably bring some bullish impulse.
The interim bearish tendency has finally ended, and today the AUD/JPY currency couple experienced a bullish reaction. At the particular moment, the price is gradually advancing towards the 55-day SMA at 81.82 , which might bring some bearish impetus. If it is breached, then the price might reach the 200-day SMA, which in turn is expected to reverse the prevailing
The bearish tendency, which started a week ago, has finally ended, as today the GBP/JPY currency pair experienced a significant bullish correction and the price has already managed to reach the previous weekly high at 124.61. As for now, the price has already touched the weekly PP at 124.62, and the currency couple is heading towards the monthly R1 at
Pair continues depreciate and breaches Double Top pattern's support level at 0.8037. Pairs outlook is mildly positive, more and more indicators start giving buy signals so it is highly likely we will see a push upwards from cluster of support levels around 80 cent mark.
Pair continues to depreciate and is trying to breach 0.985 today. Although pairs outlook is neutral, but technical indicators support possibility of further depreciation of the pair, which is very likely as in 50 pip range below 0.985 mark there are no significant support levels.
Pair bounced from monthly PP, but 1.0401 provided enough resistance to slow down pairs advancement further. Although pairs outlook is neutral in the short term, the Stochastic indicator supports the probability of pair gaining momentum and advancing further.
Pair was relatively stable today deviating in 40 pip range as 100 day SMA and weekly PP provided strong resistance and support for the pair. Pair's outlook remains neutral in short and medium term, but technical indicators give rather strong buy signal and pair is likely to advance above 99 Yen mark at least temporary.
As expected in the previous report, an accelerated downtrend resistance line in conjunction with the 100 day SMA and weekly PP rejected USD/CHF, sending it towards 0.9518/04, below which lies 0.9407/0.9395—support that preserves long-term bullish bias as long as it remains intact. However, we may not yet rule out a possibility of a move lower, to a support zone at
Despite a recent failure to breach 79.50/63, mainly formed by the 200 day SMA, USD/JPY is anticipated to gather bullish momentum and pierce through this key level, thus restoring positive outlook. On the other hand, if the pair falls below 78.13/77.98, it will become dangerously close to the levels of previous interventions by the BoJ, which may thus act as
Buying pressure within a support area from 1.5768 to 32 reignited bullish behaviour of the pair, suggesting that the pair intends to advance towards 1.6098, though the journey will not be as quick as previously estimated. Moreover, there will be considerable risks to the rally represented by resistances at 1.5887/1.5915 and 1.5983/1.6031.
EUR/USD has once again run into a strong resistance at 1.2556/1.2633, but still appears to be unable to overcome it. Therefore we expect a bearish scenario to unfold from here, since a major downtrend resistance line should continue to contain the pair and prevent further appreciation of the single European currency.
The downtrend, which started almost a week ago, continues, as today the GBP/JPY currency couple experiences another bearish movement. As for now, the price is gradually heading towards the 20-day SMA at 123.83, which might slow down the bearish tendency, however, if it fails to stop the prevailing downtrend, then the currency pair might reach the 55-day SMA at 123.43,
The bearish trend, which started a week ago, successfully continues, and today the AUD/JPY currency pair experiences another consequent movement downwards. At the particular moment, the price slowly advances towards the lower Bollinger band at 81.22, which is expected to bring some bullish impulse. In case it is broken, then next support at 81.07 (weekly S1) will probably reverse the