Pair remained stable today as relatively neutral data from US had no impact on the pair's development. However, outlook on the pair remains positive as there is strong reasons to believe that weekly pivots (S1;S2) at 1.0494/438 will give boost for pairs advance.
Pair is approaching last weeks high at 97.812 and it is evident that 55 day SMA could introduce enough resistance and stop pairs advancement dropping it to 97.00 and giving start to rectangle pattern formation.
The interim downtrend, which started two days ago, continues, and today the EUR/CAD currency pair is slowly declining towards the lower Bollinger band at 1.2104, which will probably bring some bullish impetus. In case it fails to stop the prevailing tendency, then the price might reach the weekly S1 at 1.2084, which will probably reverse the prevailing downtrend. In addition,
Yesterday's bearish correction managed to overcome the 20-day SMA at 1.1720, and now the decline continues, and the EUR/AUD currency couple is gradually approaching the weekly PP at 1.1670, which might bring some bullish impetus. However, if it is breached, then the price might reach the lower Bollinger band at 1.1637, which is expected to reverse the prevailing tendency. Nevertheless,
The rally, which started on August 14th, managed to advance even further, and now AUD/JPY confronts the weekly R1 at 83.20, which might change the direction of the prevailing movement. If it fails to stop the rally, then next resistance at 83.65 (upper Bollinger band) is very likely to bring some bearish impulse. Moreover, RSI indicator remains neutral, although it
Although RSI indicator shows neutral signal, the bullish trend, which started two days ago, managed to breach the weekly R2 at 124.04, and now the GBP/JPY currency pair is slowly approaching the upper Bollinger band at 124.57, which might slow down the uptrend. In case it is broken, then the price might advance up until the weekly R3 at 124.83,
USD/CHF remains calm and temporarily directionless. However, being that an uptrend support stays intact, we may anticipate gradual recovery of the pair. An interim resistance is located at 0.9842/70, followed by 0.9901, while in the longer time perspective the rally should be able to extend up to 0.9994/1.0003, as evidenced by weekly technical indicators.
Not only the currency pair has managed to pierce through 79.01/06, but it is already eroding a key area 79.32/51, which appears to be prone to give in and allow further advancement. An interval until 80.87/81.04 is free from notable levels, implying a possibility of extended up legs above 79.32/51. In the meantime, supports at 79.06/01 and 78.71/64 should prevent
The cable gravitates towards 1.5644/08 and may soon attempt to break it, being that resistance that lies overhead, namely 1.5717/91, is stronger than supports found at 1.5644/15 and 1.5573, which guard 1.5512/1.5482. Subsequently, GBP/USD is likely to push through 1.5450/19 and aim for 1.5249/33, rebound from which will mark a start of a long-term rally.
Bullish run of EUR/USD has come to an end, as the currency pair has broken down through the uptrend line, which supported appreciation of the Euro since July 24. Moreover, short-term indicators became neutral, after giving strong "buy" signal just recently. The initial target lies at 1.2196/64, followed by 1.2118, while violation of the latter level would expose 1.1996/95.
Pair bounced from 200 day SMA today, but although outlook on the pair is positive breaching 0.8083 might be a hard task. However, if the pair breaches this level it is highly likely we will see a double top forming with a resistance level between 0.8138 and 0.8194.
USD/CAD depreciated today neglecting almost of all hopes of fast recovery of the pair in the near future. However as outlook on the pair remains positive in the medium term it is likely the pair will tingle around 0.99 and start recovering in the next week.
Pair approached 1.0438 earlier in the day but weekly pivot (S2) gave enough boost for the pair to appreciate for the first time in almost a week. Pair's outlook in the short and medium term remains positive predicting the pair to remain above 1.05 and test 1.0535 in the nearest future.
Monthly and weekly pivot points proved to provide significant resistance for the pair and strengthen the doubts that pair is losing momentum. 95.526 is likely to provide enough support and keep pair stable at close to 97 levels in the short term, but medium and long term outlooks remain negative.
Although RSI indicator shows neutral signal, the bullish breakthrough out of the falling wedge pattern, which occurred on August 13th, continues, and now the GBP/JPY currency pair keeps slowly moving towards the weekly R2 at 124.04, which might bring some bearish impetus. If it fails to stop the bullish reaction, then next resistance at 124.36 (upper Bollinger band) is very
The rally, which started yesterday, managed to advance even further, and now the AUD/JPY currency couple has already crossed the weekly PP at 82.60, and the price is gradually approaching the monthly R1 at 83.06, which might change the direction of the prevailing movement, however, if it is broken, then next resistance at 83.20 will probably bring some bearish momentum.
The bullish reaction, which started on August 13th, has finished advancing further, and now the bearish correction takes place. As for now, the EUR/AUD currency couple has already reached the 20-day SMA at 1.1721, and the price is dipping even further - towards the weekly PP at 1.1670, which might slow down the prevailing trend. In case it is breached,
Yesterday EUR/CAD failed to advance further, thus a small setback happened, and now the EUR/CAD currency pair has renewed its bearish tendency and the price is heading towards the lower Bollinger band at 1.2141, from where it might bounce back. However, if it fails to stop the dip, then next support at 1.2103 (monthly S1) will probably bring some bullish
USD/CHF hangs above 0.9750/38, while its dips should be also contained by support at 0.9702/0.9691, which proved to be strong enough to negate bearish momentum when the pair tried to complete a head and shoulders pattern just recently. Accordingly, we expect the price to stay between 0.9770 and 0.9750/38 for now, even though indicators point to the downside.
The price has pierced several resistances, but hesitates to prolong the move, being that 79.00/04 and 79.29/50 lie overhead. While USD/JPY is likely to advance further following a bearish correction, rally may not be as pronounced, implying choppy trading sessions. Nevertheless, the outlook remains bullish and potentially 79.29/50 could be overcome.
GBP/USD quickly retraced back towards 1.5637/10 after bumping into a key resistance at 1.5721/56, confirming that the market still respects 100 and 200 day SMAs and an uptrend line. Since the cable does not possess sufficient bullish impetus at the moment, it is likely to focus on eroding supports until an important level such as 1.5573 or even 1.5249/33 is
According to signals of the short-term technical indicators, EUR/USD should continue stepping higher at an accelerated pace, but we have to be aware of a soon reversal that might take place. If resistance at 1.2379/96 does not prove to be able to curb the Euro, current rally will be likely halted by 1.2519 in conjunction with 1.2569/1.2633, being a congregation
The single European currency is posing for further appreciation against Japan's Yen after forming a triple bottom formation in the last three weeks. If bullish momentum is to persist pair must breach 97.339 (Weekly R1) which would pave the way above 55 day SMA and Bollinger band at 98.430. However, if the pair decelerates, 97.413 (Monthly PP) should be
The Aussie dollar took a plunge against the US dollar for the second day and has reached the lowest level in almost two weeks. It is likely that bearish sentiment will persist in short-term and Weekly S2 at 1.0438 should be initial target, which should give enough boost for the pair to appreciate further and reach 1.0565 in the medium