Pair rebounded from Bollinger's band at 100.576 and is back below 100. Cluster of resistance levels above current price and technical indicators suggest that this bearish correction should last for few more days. However, weekly PP at 99.501 should provide enough support and keep pair in tight range.
USD/CHF has effortlessly pierced through a confluence of supports at 0.9410/0.9385, signifying that proximate rallies are likely to act as bullish corrections rather than an establishment of a long-term trend. The initial support lies at 0.9317, while subsequent levels are at 0.9253 and 0.9205, but these are not viewed as probable turning points.
If we are to see more bearish action form USD/JPY, supports at 77.63 and 77.40 will come under considerable pressure, although, being that levels at 76.89/79 and 76.37 are too ready to absorb downward momentum, the pair is expected to stabilise and commence recovery. Still, daily and weekly studies give "sell" signals, implying that present weakness is going to persist
GBP/USD disregards presence of a downtrend resistance at 1.6111/13 and seems unwilling to change its upward direction despite most of technical indicators for weekly and monthly timeframes being bearish. The rally, if it drags on, is unlikely to be sustained above 1.6111/13 unless a point of intersection of uptrend resistance lines at 1.6400/43 is breached.
Against all odds the single European currency continues to appreciate. The nearest target resides at 1.2953, followed by 1.3020, and for the time being there are no signs that EUR/USD is going to terminate its rally. However, if to take heed of forecasts for the fourth quarter, the Euro appears to be overvalued according to the banks' estimates, and therefore
The bullish correction, which started yesterday, did not manage to continue, as today the XAU/USD exchange rate experienced a small bearish reaction. At particular moment the price is heading towards the weekly PP at 1727, which will probably bring some bullish impulse. However, if it is breached, then next support at 1700 (weekly S1) is expected to stop the prevailing
The bearish tendency, which started three days ago, has finally ended, and today the GBP/JPY currency couple experienced a significant bullish correction. As for now, the price is about to test the upper Bollinger band at 125.53, which is expected to change the direction of the prevailing movement. If it fails to stop the uptrend, then next resistance at 125.87
Today the EUR/CAD currency pair experienced a significant bullish advance, which has already managed to breach the upper Bollinger band and has reached a two-month high at 1.2569. At the particular moment the price is moving towards the weekly R1 at 1.2591, which will probably bring some bearish impetus. In case it it broken, then the currency couple might reach
Today EUR/AUD experienced a small bullish correction, as the price bounced off the weekly PP at 1.2323. As for now the price is slowly heading towards the current price channel support at 1.2364, which might change the direction of the prevailing tendency. In case it fails to stop the rally, then next resistance at 1.2415 (200-day SMA) is very likely
NZD/USD touched the highest level in 3 months. It is likely pair will continue to trade on such momentum for few more days, but eventually it should be pushed down by Bollinger band and psychological level (6th of August high) at 0.8219/23.
Pair demonstrated mild gains today after forming a Double top pattern on 1H chart. However, pairs downside risk remains, strongly limiting its upside potential. It is likely pair will continue to follow path paved by Bollinger band and downtrend support.
Pair touched 1.5051 today, the highest level in more than 3 weeks. However, it was pulled back to downtrend support, which, taking in to account readings of technical indicators, might signal a major bearish correction of the pair in the near future.
Pair managed to breach psychological 100 level today, however it has not gain momentum as expected indicating that traders are not yet convinced that this advancement will last long. It is likely that Bollinger band at 100.440, where the pair is now, and uptrend resistance at 100.785 will put some pressure on the pair slowing it down and eventually pushing
Absence of a strong rebound from an uptrend support at 0.9410/0.9385 implies that the market is already not recognizing and respecting this line due to its obsolescence. Nevertheless, this could not yet be predicated. Only once USD/CHF closes below 0.9385 and the area is fully breached, the long-term outlook will be changed to negative.
USD/JPY has nearly violated support at 77.98/81, and the risk of an extension of the dip still persists, since in aggregate indicators give a "sell" signal on a weekly timeframe. Nonetheless, 77.63 in conjunction with 77.40 are expected to withstand bearish pressure and preserve neutral outlook, which is anticipated to slowly turn into a bullish one.
The British Pound carries on outperforming its transatlantic counterpart, but the currency pair is about to hit a major downtrend resistance at 1.6084/1.6104, where bears are expected to take over and drag the price of the Sterling down. In that case GBP/USD is likely to target an uptrend support at 1.5533/15 in the long term, the view that is reinforced
Selling pressure provided by the 200 day SMA at 1.2807 was unable to contain the pair for long and allowed EUR/USD to surge up to resistance at 1.2864/1.2907, which also might take several attempts to be breached before advancement is continued. However, it is worthy to notice that means of major bank's forecasts for the next quarters (1.2257; 1.2245; 1.2337)
Today the XAU/USD exchange rate experienced another small bullish correction, and at the particular moment the price is gradually approaching the upper Bollinger band, which is very likely to stop the prevailing uptrend. If it is breached, then next resistance at 1764 (monthly R2) will probably bring some bearish impetus. In addition, the overall indicator outlook is positive, thus supporting
The bearish tendency, which started three days ago, successfully continues, and now GBP/JPY confronts the 20-day SMA at 124.67, which might slow down the downtrend. However, if it is broken, then the price might reach the weekly S1 at 124.05, which in turn is very likely to bring some bullish impetus. Besides, the indicator outlook remains neutral, and currency resistances
The downtrend, which started yesterday, failed to continue, and today the EUR/CAD currency couple experiences a small bullish correction. As for now, the price is slowly moving towards the upper Bollinger band at 1.2554, which is expected to change the direction of the prevailing movement upwards. If it fails to stop the rally, then next resistance at 1.2591 (weekly R1)
Today the EUR/AUD currency pair experienced a significant bearish reaction, which has already managed to cross the weekly PP at 1.2323, and now the currency couple is heading towards the weekly S1 at 1.2256, which might bring some bullish impulse. In case it is breached, then the price might reach the 20-day SMA at 1.2159, which in turn will probably
NZD/USD received a push from Fibonacci retracement at 0.8125 and tries to reach new high. However, Stochastic indicators suggests a bearish correction should take place in the near future. Significant resistance levels starting from 0.8197 strengthens probability of such developments in the near future.
Pair is continuing to depreciate, but market participants continue to expect recovery of the pair even after it reached the lowest level in more than 12 months today. Stochastic indicator suggests we should see a bullish correction in the near future as Bollinger band and downtrend support at 0.9735 should pullback the pair, but lack of strong support levels below
200 day SMA provided significant boost for the pairs advance above 1.04. Although traders share mixed believes, but technical indicators on 1 day chart suggest that pair is facing significant downside risk and it is likely that weekly R1 and downtrend support at 1.0453 will provide enough resistance and push pair back down.