After receiving a push from Bollinger band at 103.920 pair has gained some momentum and currently is testing 200 day SMA at 102.140. Pairs downside risk persists, but its way down should not be as fast as recent bullish rally as support levels at 101.818 and 101.616 are in close proximity to each other.
Strong selling pressure permitted only a tepid rally to appear on the chart, implying that bearish momentum is not yet exhausted and may continue to drag the price down. The initial support lies at 0.9253, whereas subsequent levels are at 0.9198/73 and 0.9083. Resistances have a much lower chance of coming into play soon, but remain ready at 0.9328 and
Downtrend resistance line was unable to contain the pair, allowing it to take a course on the 200 day SMA and recent high at 79.65/73, above which there are few resistances capable of impeding growth of the price. Prior to that, however, USD/JPY will face 79.31/38, which is also unlikely to give in easily and therefore poses a threat to
GBP/USD is about to hit a one-year high at 1.6300, which is also reinforced by resistance at 1.6329/31. In view of this, advancement of the currency pair is not as determined as it was previously, leading to a conclusion that probability of a correction continues to increase, although support at 1.6177/45 should prevent extension of a likely decline.
Following a shallow dip down to a weekly pivot point level at 1.3012, EUR/USD inches higher and once again proves to carry substantial amount of bullish impetus. It is supposed to push the price further towards 1.3226/69, while more important levels are located slightly higher—at 1.3425 (a major downtrend resistance line) and 1.3485 (the highest this year's value).
The bearish reaction, which occurred yesterday, failed to continue, as today the XAU/USD exchange rate experienced another bullish correction, and the price at the particular moment is gradually approaching the upper Bollinger band at 1800, which might stop the prevailing uptrend. In case it fails to slow down the rally, then next resistance at 1817 (weekly R2) will probably bring
The bullish tendency, which started yesterday, successfully managed to continue, as today the GBP/JPY currency pair advanced even further, and now the currency couple is about to test the upper Bollinger band at 127.95, which will probably bring some bearish momentum. In case it is breached, then the price is likely to reach the resistance of the prevailing bullish price
Today the EUR/CAD currency couple experienced a bearish reaction, which has already made a significant move downwards, and at the particular moment the currency pair confronts the monthly R2 at 1.2711, which is likely to bring some bullish impulse. If it fails to stop the downtrend, then next support at 1.2641 (weekly PP) will probably stop the prevailing movement downwards.
The bullish tendency, which started a few days ago, failed to advance further, as EUR/AUD rebounded from the weekly R1 at 1.2513, and now the currency couple is slowly approaching the support of the prevailing price channel at 1.2455, which might slow down the bearish reaction. In case it is broken, then the price might reach the weekly PP at
NZD/USD slows down on its way back as Fibonacci (23.6% of move since 5th of September) and weekly pivot (PP) at 0.8249/39 provided enough support for the pair. Technical indicators and traders' sentiment suggest that pair will pick up the pace again and continue to appreciate trying to breach 0.8328 and, more importantly, 0.8352 in the near future.
Pair continues to appreciate and at the moment is trying to breach monthly pivot (S1) at 0.9769. Pairs recovery is not as rapid as one would expect, together with readings of technical indicators this indicates that downside risk on the pair is still significant and it might experience difficulties trying to breach any of resistance levels at 0.9769, 0.9792 or
Pair continues to go through bearish correction after extremely bullish week. It breached Fibonacci (38.2% of move since 6th of September) at 1.0446 after receiving a push down from weekly pivot (PP) at 1.0493. Although technical indicators suggest that this correction should not last long we should take in to account that much more indicators give neutral signal and pair
Pair continues to depreciate after unsuccessfully trying to breach weekly pivot (R1) at 104.014 yesterday. Although Stochastic indicator gives sell signal suggesting further depreciation of the pair, traders' sentiment suggests pair will face significant resistance on it's way down and further augmentation of the pair is much more likely.
A rebound initiated by 0.9253/20 is not expected to develop into something more than a shallow short-term rally, which is anticipated to be terminated near 0.9328/62. Accordingly, sooner rather than later USD/CHF should reinstate its targets at 0.9173 and 0.9083, where some of the nearest supports may be found. We may also temporarily see lack of mobility of the pair
Another attempt of the currency couple to break free from the narrowing trading range has failed before it managed to reach 78.82/79.01. This resistance is to play one of the main roles in shaping chart of USD/JPY in the upcoming days along with support at 77.72/49, even though in the long run we are still likely to see recovery of
Even though the cable did not follow the path of EUR/USD and did not decline, pace of its advancement has slowed down notably ahead of 1.6300/31, which in turn guards 1.6400/70—a wide but nonetheless dense resistance area. In this respect continuation of the current rally above the zone seems to be unlikely, being that the idea of further advancement is
After four straight days of gains EUR/USD is finally making a downward correction. Extension of the dip down to 1.3012 or 1.2935 will not put the bullish medium term outlook under risk, but will rather imply a consolidation phase. However, a breach of 1.2879/56 and 1.2806/1.2758 (200 day SMA) will be a strong bearish signal.
The interim bullish trend has ended, and today the XAU/USD exchange rate experienced a small bearish reaction, which at the particular moment is moving towards the monthly R2 at 1764, which is likely to bring some bullish impulse. In case is fails to slow down the downtrend, then next support at 1734 (weekly S1) will probably change the direction of
The tiny bearish reaction, which occurred, yesterday, was stopped today, as the GBP/JPY currency couple experienced another huge bullish advance. As for now the currency pair is heading towards the resistance level of the prevailing price channel at 128.70, however, if it is breached, then the price is very likely to reach the weekly R2 at 129.13, which in turn
Today EUR/CAD experienced another bullish correction, and at the particular moment the currency pair approaches the 200-day SMA at 1.2831, which will probably reverse the prevailing movement upwards. If it fails to stop the rally, then next resistance at 1.2864 (weekly R1) might bring some bearish impetus. Moreover, the overall indicator outlook is neutral, therefore no significant trend reversals are
The bullish trend, which started three days ago, successfully managed to advance even further, and now the EUR/AUD currency couple confronts the upper Bollinger band at 1.2529, which might slow down the uptrend. In case it is breached, then the price might advance until the monthly R2 at 1.2630, which in turn is very likely to bring some bearish momentum.
Pair demonstrates bullish correction and though it should continue to appreciate in the near term, it should rebound from any of resistance levels above current price. While continuing it's path downward pair should remain bounded by Bollinger's band.
Driven by momentum pair tried to breach summer high at 1.0612, but was firmly pushed back and is currently testing weekly pivot (PP) at 1.0493. Most likely pair will demonstrate bearish correction for few more days and stabilize before continuing to appreciate.
Pair posted for possible return back below 100, but appreciated further after receiving boost from Fibonacci (50% of move since 21st of March, 2012) at 102.765. However, pairs downside risk persists and probability of bearish correction in the near future increases further.