The bullish trend, which started on August 12th, continues its movement upwards, and now the AUD/JPY currency pair confronts the weekly PP at 82.76, which might slow down the rally. In case it fails to reverse the trend, then next resistance at 83.06 (monthly R1) is very likely to bring some bearish momentum. As for now, RSI indicator shows neutral
It is highly likely that in the near future we will see pair forming a double top pattern with the upper limit at 0.8190 level. However, it is highly unlikely that the pair will manage to breach this level and we should see a drop to 0.8000 after this.
Pair seems to be losing its momentum and it is highly likely that, if the pair wont manage to breach 0.9900, we will see price correction towards parity level in the medium term.
Pair is currently trying to breach one of key resistance levels around 1.0570. However, if the pair wont manage to do so in the nearest future, we are abound to see a rather rapid devaluation of the pair in the medium and long term.
Pair's double bottom pattern is signalling a further augmentation of the pair. However, it is highly likely that such a development will be rather slow and, at least for the nearest future, pair will be trading between 97.143 and 95.660.
USD/CHF stopped at 0.9787, but should be able to recommence advancement and soon attain 0.9842 while moving en route to 0.9994/1.0003 in a longer time perspective. Even though indicators do not give a distinct "buy" signal, the currency pair is deemed to be bullish, since it is underpinned by support at 0.9750/38, which is formed by an impenetrable until now
USD/JPY is slowly eroding an interim resistance level at 78.33/39, though does not yet possess enough bullish momentum in order to commence robust recovery and reach 79.39/50, being that there is a number of strong resistances en route to a key zone. The nearest support is at 78.00/77.98 and should limit possible losses of the pair.
GBP/USD hovers just above a formidable support area at 1.5637/07 and thus should challenge resistance at 1.5728/30 prior to a dip back to this zone. Moreover, technical indicators also suggest a tepid rally before another down leg, which might extend down to 1.5249/33, given that 1.5573 is breached and 1.5482/72 and 1.5450/19 does not provide sufficient support.
Currently EUR/USD is attempting to bounce from an accelerated uptrend support at 1.2271, but the rally should to be shallow, given that medium and long-term outlooks remain bearish. An initial resistance lies at 1.2319/37 and is likely to halt advancement in conjunction with the following resistance at 1.2385/96 (55 day SMA).
Pair kept depreciating today, but was unable to breach level of 0.8083. Although outlook of the pair remains mildly positive for short and medium term, but pair is bound to meet heave resistance once it approaches 0.8148 (PP Weekly) and should resume falling towards 0.8025 (200-day SMA).
USD/CAD bottomed out today after a consecutive downfall, and for now investors might expect at least a short-term relief. If bullish reversal occurs, 0.9962 (S1 Weekly) is going to be the first resistance level. A breakout here would pave the way towards 1.000, which is a parity and important psychological level, and 1.0042 (61.80% Fibo).
The Aussie dollar took a plunge against the US dollar and right it is likely to keep bearish momentum over the short run. If this is the case, 1.0469 (S1 Weekly) is going to be an initial support line for investors, followed by 1.0400 (38.20% Fibo) and 1.0312 (200-day SMA) once bearish momentum strengthens.
The shared European currency slipped lower against Japan's Yen, deepening a bearish correction on EUR/JPY. If bearish momentum to go on, 96.18 (Upper Support line) might become an initial support level for bearish traders. A breakout of this line would expose 95.14 (Lower Support line) and 92.93 (S2 Weekly), respectively.
Yesterday's movement downwards was stopped today, and now a slight bullish reaction takes place. At the moment, the EUR/AUD currency couple is slowly approaching the lower Bollinger band at 1.1657, which might bring some bearish impetus, however, if it fails reverse the tendency, then next resistance at 1.1416 (weekly PP) might probably stop the bullish reaction. Moreover, RSI indicator remains
The bearish trend, which started on August 6th has finally ended, and now a bullish correction takes place. As for now, the EUR/CAD currency pair is heading towards the lower Bollinger band at 1.2224, which might slow down the rally, but if it is breached, then next resistance at 1.2272 (weekly S1) might change the direction of the prevailing trend.
Yesterday's bearish reaction continues, and the GBP/JPY currency pair has already managed to breach a 20-day SMA at 122.43, and now the currency couple is heading towards the support line of the falling wedge pattern at 121.96, which will probably bring some bullish momentum. In case it fails to stop the bearish movement, then next support at 121.57 (Weekly S1)
AUD/JPY currency pair has ended its movement within the rising wedge pattern, as today a significant bearish reaction occurred. The price has already dropped below the weekly PP at 82.87, and now AUD/JPY is moving towards a 200-day SMA, which might slow down extension of the dip. In case it is broken, then next supports at 81.91 and 81.28 are
Market respected an uptrend support at 0.9701 and pushed USD/CHF higher, towards an interim level at 0.9793. Additional resistance is at 0.9825, but is viewed too weak to negate an upward impetus the pair had received. Medium-term target is at 0.9953/1.0003, though technical indicators largely remain quiet at the moment and do not support bullish outlook.
USD/JPY remains contained by a narrow range formed by support at 78.43/38 and resistance at 78.71/75. However, the pair should soon be able to gather strength and pierce through an upper limit, then aim for subsequent levels at 78.95/79.08 and 79.29/50. In the meantime, supports at 78.08/77.98 and 77.56 are deemed to be sufficient to preserve bullish outlook.
Movements of the cable are becoming less pronounced near a formidable support area that stretches from 1.5624 to 1.5600. However, a robust rally has a decreased probability of appearing and should be stopped by 1.5731/73. Accordingly, we expect the pair to slide back to 1.5276/33 before commencing long-term recovery and overcoming a confluence of 100 and 200 day SMAs.
Advancement of EUR/USD did not extend beyond a 55 day SMA, which has been retaining the pair in a downtrend for more than three months. An initial support zone at 1.2264/26 is unlikely to withstand bearish pressure for long, eventually giving way for a deeper dip, to 1.2061/1.1996. The nearest resistance, on the other hand, may be found at 1.2334/34.
Although RSI indicator remains neutral, the bearish reaction, which started yesterday. continues, and now EUR/AUD managed to break through the lower Bollinger band at 1.1676, and presently the price is moving towards the weekly S2 at 1.1545, which might slow down the downtrend. In case it is breached, then next support at 1.1487 (weekly S3) will probably reverse the direction
EUR/CAD continues its bearish trend, which started on August 6th, and today the price managed to cross the lower Bollinger band at 1.2268, and now EUR/CAD is heading towards the weekly S2 at 1.2111, which will probably reverse the prevailing trend, but if it is breached, then next support at 1.2025 is expected to bring some bullish impetus. Nevertheless, RSI
The GBP/JPY currency pair still continues its movement within the falling wedge pattern. Yesterday the price bounced off the resistance line of the wedge at 122.82, and today a bearish reaction takes place. At the moment, the GBP/JPY currency couple is gradually moving towards the support line of the wedge at 122.28, which is very likely to reverse the present