Although RSI indicator shows neutral signal, the interim trend upwards, which started yesterday, continues, and today the GBP/JPY currency pair is about to test the 200-day SMA at 125.25, which might slow down the rally. In case it fails to stop the movement upwards, then the price might reach the weekly R1 at 125.68, which is likely to bring some
The bullish correction, which occurred yesterday, failed to continue, and now AUD/JPY has already touched 20-day SMA at 82.69. In case the downtrend prevails, then the price might reach the 200-day SMA at 82.26, which might bring some bullish impulse, however, if it is breached, then the currency couple might drop until the lower Bollinger band at 81.79, which will
Yesterday's bullish movement managed to reach and overcome the monthly PP at 1.1911, and today the EUR/AUD currency couple continues its rally. As for now, the price confronts the upper Bollinger band at 1.1965, which will probably bring some bearish impetus. In case it fails to stop the movement upwards, then next resistance at 1.1987 (weekly R2) is expected to
The bullish trend, which started on August 20th, managed to advance even further, and today the EUR/CAD currency pair has already breached the weekly R2 at 1.2357, and now the price is slowly moving towards the weekly R3 at 1.2430, which might slow down the uptrend, however, if it is broken, then next resistance at 1.2462 (upper Bollinger band)
After peaking yesterday Kiwi is fulfilling expert predictions and is staying closer to 80 US cent mark. It is likely pair will attempt to advance above 81 cent mark, but we can observe quite a few resistance levels above that mark which should contain the pair in 80-81 cent boundaries.
USD/CAD unexpectedly breached weekly PP at 0.9895. However, weekly R1 and monthly S1 at 0.9942 should slow down pairs advance pushing it closer to 0.9900 level.
Australian dollar lost ground and gained momentum as prices of shale gas and nickel are dropping. However, cluster of support levels at 1.0372/76 should provide enough support and contain the pair from dropping further.
Pair has rebounded from 99.00 and is likely to depreciate further as Stochastic indicator is giving sell signal on 1H horizon. However, pair should not have enough momentum to breach cluster of support levels around 98.00-97.5.
EUR/USD has strongly rebounded from an uptrend support yesterday. The short-squeeze has led to an attainment of resistance at 1.2453/80 - location the last obstacle en route to 1.2519/56, namely a downtrend resistance line since August 2011. Since the latter level is highly unlikely to be breached, the next week is expected to be bearish, as pointed out by most
A fairly strong uptrend support line has been breached, thus paving the way towards 0.9393/70 - a more senior uptrend support. However, the price will have to push through 0.9623/0.9589 and 0.9504 in order to confirm intentions to decline further. An interim resistance, on the other had, is at 0.9643, followed by 0.9691 and 0.9734/45, which are anticipated to contain
USD/JPY is undergoing a bearish correction following an encounter with a formidable resistance at 79.50/66, which includes the 200 day SMA, and should soon commence recovery either from the nearest support zone at 79.24/04 or from a subsequent level at 78.72/59. In any case the outlook on the pair is bullish, as it is expected to gradually leave the vicinity
GBP/USD has passed the 200 day SMA and continues to erode the next resistance area, implying resumption of the advancement after a temporary consolidation at 1.5793/1.5824. Additional resistances are situated at 1.5849 and 1.5983, but they will hardly be serious impediments in case the cable eyes a downtrend resistance at 1.6101, below which the long-term outlook should remain bearish.
The bearish trend, which started two days ago, has failed to continue, and today a significant bullish correction takes place. The GBP/JPY currency couple has already managed to cross the 200-day SMA at 125.22, and now the price is slowly approaching the upper Bollinger band at 83.49, which is expected to slow down the uptrend. If it fails to stop
The bearish reaction, which occurred yesterday, failed to continue, and now the bullish trend is in action. The AUD/JPY currency pair already managed to breach monthly R1 at 83.06, and now the price is facing the upper Bollinger band at 83.49, which might bring some bearish impulse, however, if it fails to reverse the uptrend, then next resistance at 84.18
Today the EUR/AUD currency couple made a significant move upwards, and a new monthly high has already been reached. As for now the price confronts the upper Bollinger band at 1.1916, which is likely to slow down the rally. In case it is breached, then the currency pair might reach the 55-day SMA at 1.1962, which is expected to change
Yesterday's bullish reaction managed to advance even further, and now the EUR/CAD currency couple has broken through the 20-day SMA at 1.2265, and the price is heading towards the weekly R1 at 1.2357, which might bring some bearish momentum. However, if it fails to stop the rally, then next resistance at 1.2432 (upper Bollinger band) will probably reverse the prevailing
NZD/USD has appreciated and is successfully trying to form a double top pattern on the 1D chart. Bollinger band at 0.8165 should slow down the pair's advance for a few days, but it should eventually form a second pattern's top around 0.8300.
USD/CAD Opened a week with a sharp drop but encountered resistance from weekly (S1) and monthly (S2) pivot points at 0.9850. It should maintain pair's further depreciation for a short amount of time, however it is likely pair will test 0.9818 in the course of next few days.
Pair has returned to levels prior to sharp drop at the end of last week and should continue developing normally further. Weekly R1 should not allow the pair to appreciate further for some time now and contain in 1.0472/1.0535 range.
Pair has gained and breached double bottom pattern resistance band which formed last week. However, pair is approaching a cluster of resistance levels around 99.16/40 which should drop the pair down closer to weeks opening price at 98.500.
USD/CHF is close to violating an uptrend support at 0.9746/22, which stayed intact for more than three and a half months, but currently looks too soft in order to continue underpinning the currency pair and aid its rally. The additional supports are at 0.9691 and 0.9656/43, while rallies are to be limited by resistances at 0.9793 and 0.9837/47.
As expected, 79.50/61 proved to be a notable resistance area by deflecting USD/JPY and sending it down to an interim level at 79.25/03. Subsequent supports are at 78.71/59 and 77.98, though the latter will hardly be reached, given that the pair preserves potential to advance and should eventually erode 79.50/61 and soar up to 80.87/81.08.
Bulls are once again challenging a formidable resistance zone at 1.5737/69, which includes the 200 day SMA; but their attempts are more likely to fail than succeed, as the currency couple was unable to overcome the 200 day SMA for more than two and a half months, implying that bearish outlook on GBP/USD persists. Accordingly, the Sterling is anticipated to
Even though EUR/USD crawls higher, it remains inclined to breach an uptrend support at 1.2353/22 and then target some of the lower levels at 1.2263, 1.2206/1.2194 or even 1.2134, since the market is suggested by the weekly technical indicators to become down-oriented. In the meantime, resistances at 1.2392 and 1.2438/53 should contain the currency pair from above.