GBP/USD pair experienced a volatile trading session yesterday.
Seems that EUR/USD pair loses it up-trend momentum, as the price yesterday peaked at 1.3306, but finally reversed and retreated back to a 1.3240 level, which is important resistance from the spring's channel pattern.
Pair has already depreciated more than 50 pips today as it is trying to consolidate below the autumn high at 0.8356. However, it is likely this level will give at least a short lived bullish impetus for the pair and we should see a recovery to 0.84. After that it becomes a bit more complicated as whole area from 0.84
Earlier today pair had difficulties trying to consolidate above 0.985, but at the moment the outlook is fairly positive as it is testing 100-day SMA at 0.9879. However, longer term prospects raise a lot of doubts as pair is approaching area which is rather compacted with resistance levels.
Earlier in the session pair tried to recover some of its yesterdays losses, but received yet another bearish impetus from 1.0533 and at the moment it is supported by 20-day SMA/weekly S1 at 1.0486/81. It seems it is enough for the time being, but we might be up for a major dip as there are not much major support levels
Pair has been appreciating ever since it hit 110 JPY and at the moment it is testing monthly R2 at 112.36. Pair has had a very impressive rally for quite some time now and it raises a lot of suspicions that pair is way in the overbought area and the only questions is how long till bearish correction. Especially taking
USD/CHF pair experiences a heavy depreciation, as the price decreased to the lowest level since May, 2012. The exchange rate moves along the lower Bollinger line towards the weekly S1 at 0.9101 and the monthly S2 at 0.9079. Looking from a wider perspective in the weekly graph the lower Bollinger line is at 90.70, which will be a strong resistance
Bullish sentiments and expectations in USD/JPY pair lifted the price to a new high at 84.43, which is the highest level since April, 2012. After a weekend's gap the exchange rate slipped to the weekly R1 at 83.85, however, without closing a gap, reversed and increased further. The price shows significant expectations to receive a positive decision from the Bank
GBP/USD pair demonstrates a rarely strong bullish momentum, as the price increases without bigger corrections for the second week. The currency pair overcame the weekly R1 at 1.6244 and steps even higher towards the weekly R2 at 1.6314. However, a potential appreciation in an upcoming sessions is not very likely, as technical indicators mean heavily overbought price - the RSI
EUR/USD pair firmly appreciates and have already reached a 1.3258/78 resistance level, which is the key, as it contains the monthly R2 and the weekly R1, but more importantly it coincides with this spring's channel upper boundary. Therefore, it is likely that at this level the price might find a cluster of sell orders, what will weaken an upside impulse.
Pair is continuing to depreciate after hitting the 15 month high at 0.8471. Recently it dipped as low as 0.8400, but it seems that this psychological level still carries a lot of weight and gives ground to believe the readings of technical indicators that pair might be up for another rally . Even if so, it should longer term outlook
Pair manage to pickup even before touching weekly S1 at 0.9825. However, its upside potential is rather limited due to pressure of major technical levels (downtrend resistance, 100 day-SMA and etc.) and lack of strong support levels below. It seems that pair might attempt to breach Weekly PP/Monthly S1/Downtrend resistance at 0.9856/63 soon, but lack of strong buy signals lets
Pair has been depreciating for a second day in a row and at the moment is being supported by monthly R2 at 1.0514. Pair should remain above 1.05 for some time more, but market consensus is that the pair should return below 1.05 as fast as it breached this important psychological level. This probability is supported by the readings of
Pair has been recovering ever since it hit 110 JPY yesterday and manage to advance approximately 30 pips today. However, recent events and readings from the RSI and the Stochastic indicator suggests that pair might advance a bit more, maybe it will even manage to reach 111.42, but no higher. Such scenario is also in line with the predictions of
USD/CHF pair lost a downside momentum, as the price was stopped by the monthly S1 level at 0.9180 after a sharp depreciation previous week. The price approached the lower line of the Bollinger line, which now requires a moment of consolidation, but the price can unexpectedly reverse and start appreciation, as a majority of banks' estimations with respect to the
As USD/JPY pair started a trading week with a huge gap, the price gradually depreciates towards the lower level of the gap at 83.52, which also overlaps with the weekly PP level. However, the currency pair is driven by expectations and tomorrow will be announced the final decision on a further Japan monetary easing programme, which may lift the price
GBP/USD pair maintains a bullish impetus and steps higher along with the upper Bollinger line. As the price easily passes all resistance levels, the currency pair demonstrates a strong bullish momentum, but in a such situation, a correction is highly probable and the price may slip as easily as it increased. The next resistance level lies at 1.6244, the weekly
EUR/USD pair consolidates after a sharp appreciation during last week, as the price reached the highest point since the beginning of May, 2012. The currency pair has exceeded the upper Bollinger line sharply, thus it slightly depreciates to return back within the bands. If the price recovers an upside momentum, the next resistance level is at 1.3258/73, where the monthly
Pair started the week trying to continue the rally it started 11 trading days earlier, but received a bearish impetus from 15 month high from 0.8471 and dipped al the way to weekly PP at 0.8417 where it received bullish impetus and pushed pair above monthly R2 at 0.8444. Short term outlook is fairly positive, but lack of strong positive
Pair started week rather calmly staying in ~15 pip range, but tried to significantly advance today. However, first major resistance level at 100-day SMA became a tough task and pair dipped more than 40 pips after receiving a bearish impetus from it. At the moment it is depressed under weekly PP/monthly S1 and it does not seem it will advance
Since the beginning of new trading week pair has been rather volatile deviating somewhat between Bollinger band and weekly PP. It is highly likely pair will be so volatile for a few upcoming days, but medium term outlook is rather negative as Stochastic indicator predicts that pair is moderately overbought and we are up for bearish correction.
Pair started the week at 111.06 with the intention to advance even further, but did not manage to reach even the 2012 high at 111.43 and was dragged down to 110 JPY were it found some support and has been hovering slightly below Bollinger band since then. It seems that it is just the beginning of a longer bearish dip
Even though according to a median of banks' forecasts for the first quarter of 2013 USD/CHF should be at 0.95, the price itself was in a down-trend for the last two months.
This week USD/JPY has opened above the now former 19-month high, but presently is seeking to quickly close the bullish gap.