The cable has finally gathered sufficient bullish impetus and pushed through 1.5922, thus a road towards 1.5964/79 has been opened. Additional resistances may be found at 1.6021 and especially at 1.6063/93—an area where a major downtrend resistance line is supposed to be met. Until the latter level is reached, the outlook should remain positive.
Yesterday's bearish reaction did not manage to continue, and today the XAU/USD exchange rate experienced a major bullish advance. At the particular moment, the price confronts the weekly R1 at 1705, however, when it is breached, then the exchange rate might reach the upper Bollinger band at 1725. In case it fails to stop the rally, then next resistance at
Today EUR/CAD experienced a significant bearish reaction, which managed to cross the weekly R1 at 1.2476 and the weekly PP at 1.2416. As for now the currency couple is gradually approaching the 55-day SMA at 1.2363, which is expected to bring some bullish impetus. If it fails to stop the prevailing downtrend, then next support at 1.2281 (weekly S2) is
Yesterday's bullish correction did not manage to last long, and today the EUR/AUD currency couple experiences a significant bearish reaction, which has already crossed the weekly R1 at 1.2314. At the particular moment, the currency pair is slowly heading towards the weekly PP at 1.2164, which will probably bring some bullish impulse, however, if it is breached, then the price
The bullish tendency, which started three days ago, successfully manages to advance even further, and today the GBP/JPY currency pair has experiences a significant rally, which has already managed to breach the upper Bollinger band at 125.12. As for now, the price is about to face the weekly R3 at 125.90, which might slow down the movement upwards. In case
NZD/USD is headed towards 0.8027/51, as no other resistance below it currently possesses a threat to persisting bullish tendency. Nevertheless, the 55 day SMA, in conjunction with the 200 day SMA, is not anticipated to give in and allow reversal, on the contrary, it is supposed to enforce continuation of a decline started on August 7.
The pair is getting closer to the lower line of the major downward sloping channel that stretches from 0.9736/25 up to 1.0402. Accordingly, prior to commencing long-term recovery, price is expected to decline below an initial support line at 0.9853 and penetrate some of the subsequent levels, including 0.9826 and 0.9789/69.
AUD/USD received a considerable bullish charge at 1.0194/73, the zone that is mainly reinforced by 100 day SMA, and has already overcome the nearest level at 1.0222, confirming potential to advance. Since no notable resistances are situated until 1.0318/40, the present rally may extend up to 200 day SMA, though is likely to be capped there.
The currency pair has effortlessly pierced through a confluence of resistances at 99.01/17 after confronting an uptrend support line, but was stopped by 99.58, and is currently pulling back, implying lack of bullish impetus. The rally looks fragile also due to a strongly bearish signal by technical indicators for a weekly time frame, therefore a downside risk continues to increase.
The U.S. Dollar has recently decelerated the pace of depreciation against the Swiss Franc ahead of an uptrend support, though this is not expected to be the case once 0.9562/53 is violated—the event that will pave the way for the pair to reach 0.9429/0.9398. There USD/CHF will have a significant chance to regain lost on July 29 bullish momentum.
Neither bulls nor bears currently appear to be capable of moving the currency couple, resulting in absence of any activity of the pair since August 23. Still, a decline to 78.04/77.98, likelihood of which has increased according to the signals of most of the technical studies, might trigger a bullish motion, which in turn may evolve into a prolonged rally—above
Weekly pivot point prevented further loss of value by the British Pound and aided the pair in recovering. Nonetheless, resistance at 1.5922/48 has once again halted the rally, implying that GBP/USD will continue gravitating towards 1.5806/1.5755, although the outlook will not be changed to negative unless the area at 1.5806/1.5755 is breached.
Yesterday the pair closed above a downtrend resistance line and thereby has confirmed its intentions to advance further. In the short run EUR/USD is likely to stay bullish, but longer perspective remains in question, as formidable resistance at 1.2810/35 could potentially deny upward momentum and return the price back within a downtrend channel.
Today the XAU/USD exchange rate experienced a small movement upwards, and now the price is gradually approaching the weekly R1 at 1705, which might bring some bearish momentum. In case the uptrend is strong enough to break it, then the exchange rate might reach the upper Bollinger band at 1722, which in turn is very likely to reverse the prevailing
Yesterday's bearish reaction did not manage to last long, and today EUR/CAD experiences a significant bullish correction, which has already managed to cross the weekly R1 at 1.2476. Currently, the price is slowly moving towards the upper Bollinger band at 1.2584, which is expected to change the direction of the present movement. In case it is broken, then next resistance
The interim uptrend successfully manages to continue, and today the EUR/AUD currency couple experienced another bullish correction. At the particular moment, the price is about to test the 200-day SMA at 1.2389, which is expected to bring some bearish impetus. If it is breached, then the price is likely to advance until the upper Bollinger band at 1.2461, which is
OutlookThe GBP/JPY currency pair maintains its bullish tendency, and today another significant bullish advance has been made. As for now, the currency couple confronts the upper Bollinger band at 124.88, which is very likely to bring some bearish momentum. However, if it fails to stop the prevailing rally, then the price might reach the weekly R2 at 125.35, which in
Kiwi slowed down today suggesting we might see a pullback after Double Top pattern formation as pair faced resistance from monthly pivot at 0.7924. However pairs. outlook remains negative and pair should drop below 0.79 in the short term.
Pair bounced from Bollinger band at 0.9858 and tries to advance above 99 cent mark. Although pairs outlook is neutral, stochastic indicator on 1D and 1W periods suggest that the pair might pick and advance closer to parity condition.
Aussie gained momentum and continues to depreciate. Specialists predict pairs recovery in short term, however indicators point at further depreciation of the pair and it is unlikely pair will experience resistance before 1.0076.
Pair volatility has increased, indicating it might gain momentum and finally breach 99 mark. However, pairs outlook remains rather neutral, technical indicators give weak buy signal in short term and very strong sell signal in medium term; therefore it is much more realistic to await depreciation of the pair.
USD/CHF failed to push through and close below an uptrend support line at 0.9562/49 and thus it has delayed attainment of 0.9429/0.9397, where bulls are expected to take over and reverse current downward tendency. Additional support is situated at 0.9489/74, though it will play a minor role in determining behaviour of the currency pair.
Advancement of USD/JPY was rejected by an initial resistance at 78.44, signifying lack of impetus the currency pair currently possesses. Accordingly, resistance at 78.64/78 from above and support at 78.04/77.98 from below form boundaries that should contain fluctuations of the price until we get a more distinct signal from technical indicators.
The currency couple failed to sustain a rally and is currently pulling back to 1.5837, however, it is not anticipated to restore bullish outlook on the pair. A support zone at 1.5792/55, on the other hand, might provide sufficient buying pressure in order to commence short-term recovery of the price. In the long run GBP/USD still preserves potential to attain