At some point pair was up by 75 pips today, but gave up the pace slightly before the first major resistance at 108.13 and has been range bound between 106.5 and 108 JPY for the past week. Technical indicators suggest pair will step up some more, however, it is rather important that both, on daily and weekly perspective, the Stochastic
Despite the fact that USD/CHF pair broke an up-trend line at 0.9274, it still faces difficulties to slip lower. The price retests the up-trend line from the bottom for the third day that seems to be a consolidation before a high time frame impulse. Thus, it is risky to open a position now, and it would be rational to wait
Last few days losses in USD/JPY pair are almost erased, as the pair surged tonight from the lower Bollinger band and is currently retesting the weekly PP at 82.30. The price has not broken neither the last high nor the last low, so it is possible to see a symmetrical triangle and trade from its boundaries.
GBP/USD pair moved lazily yesterday and attempted to breach the weekly R2 level at 1.6115, but was pushed back. Today, the price steps higher and is already retesting this level. The next resistance area is at 1.6165/81, where the monthly R1 and weekly R3 merge with a downside trend-line. Also the RSI has a value of 65, being very close
EUR/USD pair continues to appreciate and today reached the key resistance level at 1.3115/21, where the monthly R1 and weekly R2 intersect with the upper Bollinger band. The price increases for a sixth consecutive trading session and reached a seven-week high. Together with it the RSI has value of 73, indicating that the currency couple is overbought.
Yesterday's bearish reaction successfully managed to continue, as today the XAU/USD exchange rate experienced another significant bearish movement, and now the price confronts the lower Bollinger band at 1696, which is expected to change the direction of the prevailing movement downwards, however, if it is breached, then the exchange rate might decline until the weekly S2 at 1678, which in
The interim bullish trend has failed to continue, as today the GBP/JPY currency couple experienced a significant bearish reaction. At the particular moment the price is gradually heading towards the 20-day SMA at 130.72, which is likely to slow down the downtrend, however, if it is broken, the currency pair might reach the weekly PP at 130.16, which in turn
Today EUR/CAD experienced another slight bullish advance, and now the price is slowly approaching the upper Bollinger band at 1.3028, which is expected to reverse the prevailing movement upwards. In case it it breached, then the currency couple might reach the weekly R3 at 1.3100, which in turn will probably slow down the current rally. Additionally, the overall indicator outlook
The uptrend, which started less than a week ago, has failed to continue, as today the EUR/AUD currency pair rebounded from weekly R1 at 1.2525, and at the particular moment the currency couple is about to test the 55-day SMA at 1.2474, which is very likely to stop the downtrend, however, in case it is breached, then the price might
For the second week pair seems to be range bound between 0.995 and 0.990. It seems such situation is bound to continue due to lack of conclusive reading from technical indicators and presence of strong support and resistance levels close to current trading price.
Pair started the day with minor dip, but was pushed back up by 60 pips at some point after receiving an impetus from 0.8198. It seems we will have to wait for an advance above recent high at 0.8267 as currently tested weekly pivot (R1) at 0.8247 is becoming quite an obstacle and pair is likely to return closer to
Pair opened the day with a dip to 1.041, but picked up back again after receiving a bullish impetus from 20-day SMA. At the moment it is testing the strength of weekly pivot (R1) with possible intentions to reach new high above 1.0489. However, this prospect looks a bit gloomy at the moment as pair seems to be strongly driven
Pair tried to inch higher, but did not manage to step up any higher. At some point it was hovering below 107 JPY mark, but currently is at 107.25 after losing 11 pips since opening of the day. Although indicators on aggregate point at further appreciation of the pair, the Stochastic indicator suggests that pair has reached a turning point
As USD/CHF pair breached the upside line at 0.9275, the price moves down rather unwillingly. Therefore it is possible to see a retest of a trend-line in order to prepare a downside impulse. In any case, the target zone remains a 0.9191/80 area, where the monthly S1 and the weekly S2 intersect with the lower Bollinger band.
After USD/JPY pair found a resistance at 82.47, the price moves south. As the pair is overbought to a significant extent, possibility of a deeper correction is increased. The first support level will be the weekly S1 at 81.86 and after that—81.46 area, where the monthly PP level crosses with the 20-day SMA.
GBP/USD pair was bounded by a down-sloping trend-line for a long time and yesterday the price finally overcame it and surged till the upper Bollinger brand at 1.6124. The next resistance level is the weekly R2 at 1.6115 and 1.6169/81 area, where a long-run downside trend-line intersects with the weekly R3 and monthly R1.
EUR/USD pair started a week by firmly rallying. The price increased above the down-trend line at 1.3040 and was stopped by the weekly R1 at 1.3055. It is very likely to see a retest of a trend line, which was just easily overcome. Afterwards, if the price still maintains momentum to appreciate, 1.3118 level will be the key resistance, where
The bearish trend, which started a couple of days ago, has failed to continue, as today the XAU/USD exchange rate experienced a slight bullish correction, and now the price is gradually heading towards the 20-day SMA at 1726, which is very likely to stop the uptrend, however, if it is breached, then the exchange rate might reach the 55-day SMA
The bullish movement, which started more than a week ago, has successfully managed to continue, as today GBP/JPY experienced another consequent bullish advance. As for now, the currency couple is slowly moving towards the weekly R1 at 133.14, which might bring some bearish impetus, but if it is broken, then the price might advance until the weekly R2 at 134.14,
Today the EUR/CAD currency pair experienced another movement upwards, and at the particular moment the price is gradually approaching the weekly R1 at 1.2969, which will probably bring some bearish momentum, but in case it is breached, the currency couple is likely to reach the upper Bollinger band at 1.2996, which in turn is expected to change the direction of
The uptrend, which started a couple of days ago, has successfully managed to continue, as today the EUR/AUD currency couple experienced another significant movement upwards, and at the particular moment the price is heading towards the weekly R1 at 1.2525, which might slow down the rally, however, if it is breached, then the currency pair will probably reach the upper
Yet another attempt of bears to penetrate the 55-day SMA did not succeed, triggering short-squeeze that has already forced the pair to rise above the weekly PP. The next resistance is situated at 0.8247/63, but for now appears to be in a relative safety, as technical studies are mostly silent at the moment. In the meantime, possible losses are to
"The (U.S.) dollar is lower against most of the majors overnight rather than being anything specific to Canada. There is plenty going on in Canada this week but not so much today really"- RBC Capital Markets (based on Reuters)Pair's OutlookUSD/CAD has been trading within a broadening upward channel since mid-September and is presently facing the up-trend support line at 0.9920/08,
Selling pressure AUD/USD encountered near the upper edge of the bearish channel at 1.0475/92 prevented further development of a rally. Consequently, the currency pair is expected to initiate a down leg that in turn may last until 1.0109 in the medium term, if the 200-day SMA fails to halt depreciation of the Australian Dollar. However, some of the closer supports,