EUR/USD is slowly eroding the nearest support area at 1.2485/63, violation of which will confirm bearish intentions of the pair and jeopardise subsequent levels at 1.2393/37 and 1.2210/1.2168. Nevertheless, since the downward momentum is not yet strong enough, the pair may be a subject to a rally up to 1.2556/1.2633, but is expected to be stopped there.
The downtrend, which started two days ago, managed to continue, and today the price confronts the weekly PP at 1.2355, which might slow down the prevailing tendency downwards. In case it fails to stop the movement downwards, then next support at 1.2294 (20-day SMA) is very likely to reverse the direction of the present movement. Additionally, RSI indicator shows neutral
Although RSI indicator shows neutral signal, the bullish correction, which occurred yesterday, managed to advance even further, and now the EUR/AUD currency couple is gradually approaching the upper Bollinger band at 1.2144, which will probably bring some bearish impetus. In case it is broken, then the price might reach the monthly R1 at 1.2177, which is very likely to change
The interim downtrend, which started less than a week ago, managed to decline even further, and today the AUD/JPY currency pair has already reached the 55-day SMA at 81.72, and the price is heading towards the lower Bollinger band at 81.44, which is expected to bring some bullish momentum, however, if it is breached, then next resistance at 81.28 (monthly
The bearish trend, which started on August 22nd, managed to continue, and today the GBP/JPY currency couple is slowly moving towards the 20-day SMA at 123.76, which might slow down the downtrend. In case it fails to stop the prevailing movement downwards, then the price might reach the 55-day SMA at 123.42, which in turn is very likely to bring
Pair dropped further after the weekend as it forms clear double top pattern. Pair is likely to depreciate further and drop closer to 0.8050 where we can find a cluster of support levels and pattern's lower limit.
After dropping below 99 cent mark for a short period of time the pair partly recovered as weekly pivot point at 0.9903 provided enough support for the pair. However, it is likely pair will test 98.5 cent mark in the near future where we can find a cluster of support levels.
Pair continues to depreciate and is set to test 1.0342/36, eventually dropping to 200 day SMA during this week which should push the pair back up to monthly pivot point at 1.0372.
Pair started week vaguely trading in 30 pip range today. Although specialist maintain neutral outlook and predicts the pair not to deviate far from 98.41 indicators point at appreciation of the pair as it continues to develop in double bottom frame and is likely to test 100 day SMA at 98.925 in short term.
Bullish correction that started at 0.9563/52 seems to have come to an end ahead of the initial resistance at 0.9616/36 formed by the 100 day SMA and a weekly pivot point. Consequently, we expect resumption of the greenback's depreciation against the swissie with the near-term target set at 0.9505/04, while in the long run USD/CHF is capable of reaching 0.9407/0.9395.
After a failure to violate the 200 day SMA at 79.50/59 and the ensuing precipitous fall, USD/JPY is crawling upwards. Nonetheless, due to a lack of bullish impetus the currency couple is temporarily unable to pierce through the initial resistance levels at 78.71/93 and 79.17 effortlessly. In the meantime, supports are at 78.13/77.94, 77.52/34 and 76.76/56.
Prolonged bearish correction extended the dip of the cable down to 1.5796/77, but appears to be already terminated, being that the pair commences recovery. The initial resistance it should encounter is situated at 1.5824, while subsequent levels are to be found at 1.5873 and 1.5915. Still, despite short-term bullish outlook, in the long-term GBP/USD is deemed to be bearish.
A cluster of resistances at 1.2556/1.2633 has stopped advancement of the currency pair and forced it to back off. However, EUR/USD might attempt to challenge resistance once again, since it did not confirm bearish bias by breaching the nearest support - an uptrend line at 1.2492/63, below which lies 1.2391/48 (55 day SMA). On the other hand, indicators give mixed
Yesterday's downtrend managed to continue today, and now the GBP/JPY currency couple is gradually approaching the weekly PP at 124.04, which might slow down the movement downwards, however if it is breached, then the price might fall until the 55-day SMA at 123.45, which in turn is expected to reverse the prevailing trend. Additionally, RSI indicator shows neutral signal, and
Although RSI indicator shows neutral signal, the bearish trend, which started two days ago, continues, and now the AUD/JPY currency pair is gradually heading towards the lower Bollinger band at 81.65, which is very likely to stop the prevailing tendency, however, if it is broken, then next support at 81.28 (monthly PP) will probably bring some bullish impetus. On the
The uptrend, which started on August 20th, successfully advances further, and now the EUR/AUD currency couple is slowly heading towards the upper Bollinger band at 1.2079, which is very likely to bring some bearish momentum. In case it is breached, then the currency pair might reach the weekly R3 at 1.2125, which in turn will probably change the direction of
Interim bullish trend was finished yesterday, when the EUR/CAD currency pair rebounded from the upper Bollinger band at 1.2525, and today the price has experienced a bearish reaction, which has already managed to breach the 55-day SMA at 1.2446, and now the currency couple is slowly approaching the weekly R1, which might slow down the downtrend. If it fails to
Pair forms a second top for a double top pattern and is likely depreciate to pattern support at 80 cent mark. In the medium term pair is equally likely to breach the mentioned level as it is to bounce from it and form a triple top pattern.
Pair poses for a short term recovery as it tested monthly S1 at 0.9942. However, pairs outlook and expert expectations remain negative as pair is expected to drop below 99 cent mark by the end of trading session.
It seems that pair is driven completely by the fundamental news regarding the commodity prices, especially those from mining sector, but cluster of support levels at 1.0345 should stop pairs depreciation by the end of the trading week.
Pair tumbled today and is testing Fibonacci retracement at 97.937. It is unlikely the pair will breach this level due to major psychological pressure as quite a few market participants expect to see a pullback till the end of the trading week.
Rate of the greenback's depreciation against the swissie is slowing down ahead of a support line at 0.9504, implying an increased possibility of a bullish correction taking place. Nevertheless, the rally is likely to be shallow, given that USD/CHF is anticipated to decline to 0.9395/82 in a longer time perspective. Accordingly, resistances at 0.9589/9606 and 0.9643 are to ensure that
Support at 78.71/59 managed to underpin the pair after an accelerated move downwards, but nevertheless appears to be under risk of being breached. Additional levels of interest, capable of reigniting bullish activity of the price, are at 77.98/67 and 77.34/18. Once the positive outlook is restored, USD/JPY will encounter resistances at 78.98/79.20 and 79.50/58.
Following a starkly rally, GBP/USD is in a bearish correction, which should not extend beyond supports either at 1.5849 or at 1.5824/1.5796. Moreover, as long as 1.5763/41 remains intact, near-term positive outlook will be preserved. The initial resistance is located far ahead, at 1.5983, and guards a major downtrend resistance at 1.6118.