The bullish trend, which started a couple of days ago, successfully managed to continue, and today the EUR/AUD currency couple experienced another bullish advance. As for now, the price is slowly approaching the resistance line of the prevailing bullish channel at 1.272, however if it is breached, then next resistance at 1.2740 (monthly R2) will probably bring some bearish impetus.
Pair is testing cluster of support levels around 0.8180 after plummeting from Fibonacci retracement (23.6% of move since 5th of September) at 0.8250. Although market and indicators are giving mixed feeling it seems pair will be fluctuating around 0.8200 for some time.
Pair has resumed its recovery after being range bound (0.9850-0.9800) almost for a week and is currently testing few resistance levels around 0.9880. It is likely we will see pairs recovery for some time more, but downside risk is still strong as weekly indicators almost unanimously point at pair's drop.
Pair gained momentum after receiving a push from weekly and mthly PP at 1.0378/84 and is currently approaching 1.0160 what seems to be a support level of double top formation (tops on 9th of August and 14th of September). It is likely pair wont manage to breach this level straight away as Stochastic indicator predicts a bullish correction on the
Pair is continuing its rally after bouncing from major (psychological level) at 100. Although technical indicators give rather neutral signals it is likely pair will continue to appreciate and form a double top pattern breaching resistance levels at 101.56, 102.06 and 102.54 on the way.
Being that technical indicators are silent at the moment for all three time frames observed, USD/CHF may be choppy during the next few days without explicitly giving away its future intentions. Nevertheless, the outlook is from neutral to negative due to the fact that a downtrend resistance is still respected by the market and may provide sufficient selling pressure in
The currency pair is slowly approaching an edge of the bearish channel at 78.42 that lies overhead. There USD/JPY is likely to be capped, since technical indicators do not give a distinct signal. The upper shadow of the candlestick might extend up to 78.71/77, but only a close above it will ensure that the rally is not a false breakout.
The cable has left the vicinity of 1.6233, implying that is it ready to renounce its bullish claims to the downtrend resistance line and a subsequent level at 1.6286/1.6308. Once the price steps below 1.6100/1.6078, there should be no significant obstacles until the 55 day SMA, currently at 1.5915, while a long-term aim lies at 1.5601/1.5558.
Without even going though a half of a potential distance, EUR/USD stalled just below 1.2955, revealing that it lacks upward impetus required to remain on the rise. However, the outlook is still bullish, since an uptrend support line is intact, suggesting that current weakness is only temporary and will not develop into a full-blown dip, which is expected to be
Today the XAU/USD exchange rate experienced a slight bullish correction, and at the particular moment the price faces the weekly R1 at 1784, which will probably bring some bearish impulse. In case it is breached, then next resistance at 1808 (monthly R1) is very likely to change the direction of the current movement upwards. Nevertheless, RSI indicator shows a neutral
The bearish trend, which started a couple of days ago, failed to continue, and today the GBP/JPY currency pair experienced a slight bullish correction, which has already crossed the monthly PP at 125.94. As for now, the price confronts the weekly R1 at 126.22, which is likely to bring some bearish impetus. In case it is breached, then the currency
The bullish trend, which started yesterday, successfully managed to continue, as today EUR/CAD experienced another bullish correction. At the particular moment the currency couple is about to test the weekly R2 at 1.2726, which will probably bring some bearish momentum. If it fails to stop the rally, then next resistance at 1.2758 (weekly R3) might change the direction of the
Today the EUR/AUD currency couple experienced a significant bullish advance, which has already managed to breach the upper Bollinger band at 1.2510, and now the price is approaching the weekly R3 at 1.2575, which might slow down the prevailing rally, In case it is broken, then the currency pair might reach the monthly R2 at 1.2740, which in turn is
Since NZD/USD has lingered near the upper limit of the bullish channel for the last 16 days, it creates suspicion that the pair is forming a rising wedge pattern, downward breakout of which generally occurs more often than the upward one. The nearest support is at 0.8243, but is not deemed capable of halting the possible dip. Level at 0.8181
The currency pair is presently well-positioned to trim its prior gains since September 14, being unable to continue its advancement above 0.9859/64. In order to confirm bearish intentions, USD/CAD should violate 0.9806/0.9798, this is turn will allow the price to go as low as 0.9717 or even 0.9678/70 in light of absence of any notable supports nearby.
AUD/USD did not yet close beneath 1.0342/20, a key support, but there are already few reasons to believe the bullish outlook will be preserved. Following a breakout of an uptrend support line we are likely to observe an extension of a dip down to 1.0133 with a scope of a further decline to 0.9915. In order to rule out the
An uptrend resistance line at 101.05 curbed the latest rally of EUR/JPY after it had rebounded from a 38.2% Fibo retracement level for a move started on July 25. Once 100.61/55 is eroded, the Euro will be poised for further losses against the Yen, down to 100.14 initially, then to a formidable area at 99.04/98.45, mainly reinforced by 55 and
Formidable resistance at 0.9414/26 halted advancement of the pair, implying that the recent rally was simply a bullish correction and USD/CHF should now continue to drift lower. The initial target for the price lies at 0.9346, although a real test of bearish momentum will occur once the pair dips to 0.9245/34, as it was unable to breach it earlier.
USD/JPY attempts to erode 77.99/78.10, but lacks bullish impetus in order to negate selling pressure and pave the way towards subsequent resistances, which are located at 78.41 and 78.72/78, These levels are expected to fall victims to a robust recovery of the pair eventually, but not at the moment. Meanwhile, dips are to be contained by 77.43/26 in conjunction with
GBP/USD appears to be willing to challenge 1.6233 once again, given that an uptrend support at 1.6100/1.6085 withstood downward push and short-term indicators point to the upside. However, the rally should be capped at 1.6300/44, even if the price does close above 1.6233, since in the long run the currency couple is deemed to be bearish.
A two-week decline was ensued by a strong rally from 1.2826/1.2791, which is able to extend further, up to 1.34. Once 1.3151/71 is overcome, the way will be cleared towards a major downtrend resistance line, from where EUR/USD is expected to slide down for a protracted period of time. This view is also reinforced by monthly technical indicators and medians
The NZD/USD currency couple keeps moving inside the bullish price channel, and today the currency pair rebounded from the Weekly PP at 0.8270, and now the price is slowly approaching the upper Bollinger band at 0.8366, which is likely to slow down the prevailing tendency. In case it is breached, then next resistance at 0.8448 (Monthly R1) will probably bring
The interim uptrend failed to continue, as today USD/CAD experienced a significant bearish correction, and now the currency couple is about to test the weekly S1 at 0.9779, however, if it is broken, then the price might reach the lower Bollinger band at 0.9718, which in turn is expected to change the direction of the prevailing tendency. Moreover, RSI indicator
Today the AUD/USD currency pair rebounded from the support line of the rising wedge pattern at 1.0350, and now the bullish trend is in action. As for now, the price confronts the Monthly PP at 1.0378, which might bring some bearish impetus, however, if it is breached, then next resistance at 1.0432 (55-day SMA) will probably reverse the direction of