The interim bearish tendency seems to have finally ended, as today the EUR/JPY currency couple experienced a significant bullish correction, which has already managed to overcome the Monthly PP at 100.55. At the particular moment the price confronts the Weekly R1 at 100.95, which might slow down the rally. In case the uptrend prevails, then the currency pair is likely
Whether EUR/USD manages to secure its medium-term bullish outlook depends on toughness of support at 1.2792, which is formed by the 200 day SMA and an uptrend support line that shaped the rally since July 25. Absence of any significant resistances up until 1.3151/54 is also worthy of notice, as it increases the chance of a pair's recovery from the
USD/CHF has violated both a downtrend resistance line and the 200 day SMA, leaving 0.9472/78 exposed. Still, upward momentum is weak, implying that bullish correction might soon come to an end. Being that indicators are mixed at the moment, the pair is expected to consolidate near 0.9413 before making any pronounced movements.
Range of USD/JPY narrows, as it is being contained by two converging lines. One of them has kept the price in a downtrend since March 15, while the other has underpinned the pair for nearly a year. Therefore we would expect a breakout of a downward sloping line due to support's seniority and a subsequent surge of USD/JPY above 78.41
Rally above 1.6223 proved to be unsustainable, sending the cable back beneath 1.6170. Support at 1.6100/1.6085, however, halted depreciation of the Sterling and may provide sufficient bullish impetus for the price to retest a major downtrend resistance at 1.6223, although long-term technical indicators give "sell" signals and thus advancement is unlikely to be continued from there.
Yesterday's bullish correction failed to continue, as today the XAU/USD exchange rate experienced a slight bearish reaction. As for now, the price is about to test the weekly PP at 1769, however, if it fails to stop the prevailing movement downwards, then the exchange rate might reach the 20-day SMA, which in turn is expected to reverse the current downtrend.
Today GBP/JPY experienced a significant bearish reaction, and at the particular moment the GBP/JPY currency pair is slowly moving towards 55-day SMA at 124.58, which will probably reverse the prevailing movement downwards. If it is broken, then next support at 124.17 (lower Bollinger band) is very likely to bring some bullish impetus. Moreover, RSI indicator shows a neutral signal, although
The downtrend, which started a couple of days ago, successfully managed to continue, and today the EUR/CAD currency pair experienced another bearish decline. At the particular moment the currency couple is heading towards the 20-day SMA at 1.2634. If it is breached, the the price might reach the weekly S1 at 1.2607, which in turn will probably bring some bullish
The bearish tendency, which started more than a week ago, has finally ended, as today the EUR/AUD currency couple experienced a bullish correction. As for now, the price confronts the 200-day SMA at 1.2420, which is expected to change the direction of the prevailing uptrend, however, if it fails to slow down the rally, then next resistance at 1.2480 (upper
Recent developments allow us to believe that pair is range bound between weekly pivot (S1) at 1.035 and 1.045 and is currently depressed slightly below monthly pivot (PP)/Fibonacci retracement (50% of move since 6th of September) at 1.0404. As technical indicators point at appreciation of the pair it is likely it will bounce of the support levels below.
After sharp appreciation pair rebounded from 14th of September high at 0.8352 and is currently hovering slightly above major (psychological) level at 0.8300. It is likely pair will drop all the way to weekly pivot (PP) at 0.8270 or Fibonacci retracement (23.6% of move since 5th of September), but should pick up once again after that.
Pairs development shows that bullish rally on the pair has ended and technical indicators on 1 week horizon suggest we might see a sharp drop next week. It seems that downtrend resistance (connects 2nd of August and 5th of September highs) at 0.9795 should not put much of a fight, but breaching 20 bar SMA/monthly pivot (S1) at 0.9769 should
Pair rebounded after unsuccessful attempts to breach cluster of support levels around 100 and is currently range bound between 100 and 101 as there is no other major support levels there. This bullish rally should last at least until the pair reaches already mentioned major level/20 bar SMA at 101/101.034.
Bears regained control of the pair and continue to increase distance from 0.9400/41. The nearest support to take heed of is situated at 0.9310, although the main challenge is at 0.9265/53, as the pair might form a double bottom pattern in case USD/CHF bounces from it, which will imply a reversal. Additional levels to beware of are at 0.9214/00 and
USD/JPY continues to slide down and has already left 77.68/63 behind. The next level is at 77.32/18—the last strong support en route to an all-time low at 75.57, as neither 76.89 nor 76.49 seem to be capable of halting the pair at the moment. The currency couple is nevertheless expected to stabilise soon and to rally despite "sell" signals of
GBP/USD refused to submit to a downtrend resistance line and has just soared beyond 1.6233. Even though the price has not yet closed above it, there is little chance the pair will return within the channel, as short-term technical indicators are bullish. The only obstacle that separates the cable from long-term advancement lies at 1.6308—the highest value in more than
While resistance at 1.2933/53 is slowly being eroded, we may expect extension of the currency rally. In the medium term EUR/USD preserves potential to go as high as 1.3371, where it is going to confront a significant downtrend resistance line. Prior to that, however, the pair will have to overcome 1.3019 and 1.3119. In the meantime, dips are to be
The bearish tendency, which started a few days ago, did not manage to continue, and today the XAU/USD exchange rate experienced a bullish correction, and as for now the price confronts the monthly R2 at 1764, which will probably slow down the prevailing uptrend. In case it is broken, then the price is very likely to reach the weekly R1,
Today the GBP/JPY currency couple experienced a slight bullish correction, and at the particular moment the price faces the 20-day SMA at 126.15, which is likely to stop the prevailing rally from advancing further. However, if it is breached, then the price might advance until the weekly PP at 127.28, which will probably bring some bearish momentum. Nevertheless, the overall
The bearish trend, which started a couple of days ago, successfully managed to continue, and today the EUR/CAD currency pair experienced another bearish reaction. As for now, the currency couple is slowly approaching the 20-day SMA at 1.2625, which is expected to bring some bullish impulse. If it fails to stop the downtrend, then next support at 1.2554 (monthly R1)
Today EUR/AUD experienced a significant bearish reaction, which has already managed to breach the 20-day SMA at 1.2396, and now the currency couple is about to test the weekly R1 at 1.2336, which might slow down the prevailing downtrend. In case it is broken, then the price might reach the lower Bollinger band at 1.2269, which in turn is expected
Pair is appreciating for the second day after hitting Fibonacci (23.6% of move since 5th of September) at 0.8249. It seems that this rally might continue even further up to monthly and weekly pivots at 0.8326/33 with slight break at major (psychological) level at 0.8300.
Pair depreciated mildly as bearish correction on the pair kicked in. However, it is early to say how long this correction will last as currently pair is rather stable slightly above weekly pivot (R1)/Fibonacci (23.6% of move since 3rd of June) at 0.9824/21 and technical indicators don't suggest any conclusive signals for the short term.
Pair continues to appreciate after receiving a kick from 200 day SMA at 1.0327 yesterday. However, downside risk on the pair remains and this attempt to step up can be easily neglected by any of resistance levels at 1.0436/49.