GBP/USD has passed the 200 day SMA and continues to erode the next resistance area, implying resumption of the advancement after a temporary consolidation at 1.5793/1.5824. Additional resistances are situated at 1.5849 and 1.5983, but they will hardly be serious impediments in case the cable eyes a downtrend resistance at 1.6101, below which the long-term outlook should remain bearish.
The bearish trend, which started two days ago, has failed to continue, and today a significant bullish correction takes place. The GBP/JPY currency couple has already managed to cross the 200-day SMA at 125.22, and now the price is slowly approaching the upper Bollinger band at 83.49, which is expected to slow down the uptrend. If it fails to stop
The bearish reaction, which occurred yesterday, failed to continue, and now the bullish trend is in action. The AUD/JPY currency pair already managed to breach monthly R1 at 83.06, and now the price is facing the upper Bollinger band at 83.49, which might bring some bearish impulse, however, if it fails to reverse the uptrend, then next resistance at 84.18
Today the EUR/AUD currency couple made a significant move upwards, and a new monthly high has already been reached. As for now the price confronts the upper Bollinger band at 1.1916, which is likely to slow down the rally. In case it is breached, then the currency pair might reach the 55-day SMA at 1.1962, which is expected to change
Yesterday's bullish reaction managed to advance even further, and now the EUR/CAD currency couple has broken through the 20-day SMA at 1.2265, and the price is heading towards the weekly R1 at 1.2357, which might bring some bearish momentum. However, if it fails to stop the rally, then next resistance at 1.2432 (upper Bollinger band) will probably reverse the prevailing
NZD/USD has appreciated and is successfully trying to form a double top pattern on the 1D chart. Bollinger band at 0.8165 should slow down the pair's advance for a few days, but it should eventually form a second pattern's top around 0.8300.
USD/CAD Opened a week with a sharp drop but encountered resistance from weekly (S1) and monthly (S2) pivot points at 0.9850. It should maintain pair's further depreciation for a short amount of time, however it is likely pair will test 0.9818 in the course of next few days.
Pair has returned to levels prior to sharp drop at the end of last week and should continue developing normally further. Weekly R1 should not allow the pair to appreciate further for some time now and contain in 1.0472/1.0535 range.
Pair has gained and breached double bottom pattern resistance band which formed last week. However, pair is approaching a cluster of resistance levels around 99.16/40 which should drop the pair down closer to weeks opening price at 98.500.
USD/CHF is close to violating an uptrend support at 0.9746/22, which stayed intact for more than three and a half months, but currently looks too soft in order to continue underpinning the currency pair and aid its rally. The additional supports are at 0.9691 and 0.9656/43, while rallies are to be limited by resistances at 0.9793 and 0.9837/47.
As expected, 79.50/61 proved to be a notable resistance area by deflecting USD/JPY and sending it down to an interim level at 79.25/03. Subsequent supports are at 78.71/59 and 77.98, though the latter will hardly be reached, given that the pair preserves potential to advance and should eventually erode 79.50/61 and soar up to 80.87/81.08.
Bulls are once again challenging a formidable resistance zone at 1.5737/69, which includes the 200 day SMA; but their attempts are more likely to fail than succeed, as the currency couple was unable to overcome the 200 day SMA for more than two and a half months, implying that bearish outlook on GBP/USD persists. Accordingly, the Sterling is anticipated to
Even though EUR/USD crawls higher, it remains inclined to breach an uptrend support at 1.2353/22 and then target some of the lower levels at 1.2263, 1.2206/1.2194 or even 1.2134, since the market is suggested by the weekly technical indicators to become down-oriented. In the meantime, resistances at 1.2392 and 1.2438/53 should contain the currency pair from above.
The bearish correction, which started on August 19th, continues its movement downwards, and GBP/JPY is gradually moving towards the weekly PP at 124.01, which is very likely to bring some bullish momentum, however, if it fails to stop the downtrend, then the price might reach the 55-day SMA at 123.44, which is expected to change the prevailing trend. Additionally, RSI
Yesterday's bullish trend failed to advance even further, and today the bearish correction takes place. As for now, the AUD/JPY currency couple confronts the weekly PP at 82.90, which might slow down the downtrend, however, if it is breached, then next support at 82.62 (20-day SMA) might be the reversal point for the prevailing tendency. Moreover, RSI indicator remains neutral,
Although, RSI indicator remains neutral, the bearish tendency, which started yesterday, managed to continue its movement downwards, and now the EUR/AUD currency couple is heading towards the weekly PP at 1.1764, which might bring some bullish impulse. In case it fails to stop the downtrend, then the price might reach the 20-day SMA at 1.1722, which is very likely to
Yesterday's bearish reaction has failed to continue, and today the EUR/CAD currency pair has already managed to cross the weekly PP at 1.2201, and the price is slowly approaching the 20-day SMA at 1.2267, which might slow down the prevailing uptrend, however, if it is broken, then next resistance at 1.2357 (weekly R2) will probably bring some bearish impetus. In
Pair is caught up between Fibonacci retracement levels at 0.8083 and 0.8074 keeping its outlook neutral. Pair should remain deviating between weekly R1 at 0.8124 and 200day SMA at 0.8039 for the rest of the week.
USD/CAD has appreciated for a third day, but it is very unlikely the pair will be able to advance above weekly and pivot points at 0.9931/45 in the near future. At the same time it is possible that pair will demonstrate price correction action and will try to breach 0.9850.
Pair has slightly recovered after dropping to a 3 week low at the end of last week. However, weekly PP should stop pair from advancing further till the end of week and keep it between 1.0472 and Bollinger band at 1.0373.
Pair has depreciated after the trading brake during the weekend. The pair should remain between 98.640 (Bollinger band) and 97.675 (55 day SMA) as pair is approaching Double Bottom pattern's, which it formed last week, resistance band.
USD/CHF has presently a higher probability of violating an uptrend support at 0.9738/19 than rebounding from it. Therefore supports at 0.9691 and 0.9659/43 are likely to come under pressure, though the dip may reach 0.9589/85, as they are not nearly as formidable as the latter one. However, indicators on a weekly timeframe are strongly bullish, meaning that there is still
The currency pair is anticipated to sustain its current rally and push through resistance at 79.50/57, though the breakout might take several tries to realise, as technical indicators remain neutral for now. Probable retracement of USD/JPY should not extend below 79.08/03, ahead of which the price is expected to stabilise and take a course on 80.87/81.08.
GBP/USD attempts to recover, but has encountered a resistance zone at 1.5688/1.5704 and is thus unlikely to advance further. Moreover, subsequent resistance, which stretches from 1.5736 to 1.5766 and consists of the 200 day SMA and an uptrend line, caps the pair in the long run. Supports, on the other hand, may be found at 1.5656/33 and 1.5618/1.5580.