After a slight increase yesterday, EUR/JPY is on the downside today, en route towards S1 weekly at 94.80. In case the pair continues the long-term bearish movement, we are likely to see it striving towards 91.10, where the monthly S3 stands. However, currently the pair is in the close to the weekly forecasts, so sharp movements of the pair are
After an insignificant slide yesterday, AUD/USD has gained footing and today is continuing rally of two months. Despite a neutral aggregate signal from technical indicators today, the weekly outlook on the pair is negative. RSI (14) has almost reached its critical value of 70, so a trend reversal is expected in short-term. The first significant pair's target can be around
The psychological parity level (1.00) has served as a strong support for the USD/CAD pair. With the RSI (14) approaching its oversold area, we are likely to see the pair augmenting in near-term. The aggregate technical indicators give us a Buy signal in the weekly timeframe as well. Thus, 1.0086, where the 200-day SMA lies, can be the first bullish
After an almost flat trade yesterday, the pair has slightly augmented today despite a neutral outlook based on aggregate technical indicators. The weekly outlook of the pair is negative with RSI (14) moving closer towards the overbought area of 70. In the bearish case, we are likely to see the 20-day MA at 0.80055 as the first target for NZD/USD.
USD/CHF is retreating from 0.9809/16 further away and should soon encounter support at 0.9738, though the currency pair seems to gravitate towards an even lower level at 0.9701/0.9674, which in turn is expected to withstand bearish pressure. Additional supports lie at 0.9647 and 0.9532, but are likely to remain intact for now, since the pair preserves long-term bullish outlook.
USD/JPY was unable to sustain a rally and has quickly returned to 78.06/77.98. Moreover, being that it has formed a descending triangle and is approaching an intersection of a trendline connecting lower highs and of a strong horizontal support, the currency pair is likely to break out of the pattern and then aim for an interim support at 77.71/63.
Formidable resistance area at 1.5729/58 (composed of 100 and 200 day SMAs and an uptrend resistance) has repelled attack of the pair, sending it down to 1.5650. The latter level should soon give in and pave the way towards the following support at 1.5608/1.5574. In the medium-term GBP/USD is expected to fall even lower - towards 1.5472/50 (uptrend support).
Bulls have quieted down after a shallow rally and should allow bears to take over and push the currency pair through an interim support at 1.2244/32 en route to a subsequent level at 1.2099/1.1996. However, this is unlikely to happen today (given that technical indicators for a daily timeframe are neutral) but later this week. In the meantime, resistances at
Bearish downtrend that started on the 29th of July has ended, and now a bullish reaction takes place, although RSI indicator remains neutral. As for now, AUD/JPY currency pair is heading towards Upper Bollinger Band at 82.689, where it is very likely to find resistance for the current rally. If necessary, next resistances at 83.167 and 84.205 might bring some
EUR/CAD managed to reach a new low yesterday at 1.2273, however, it bounced back from the Lower Bollinger Band, where it gained some bullish impetus. Although RSI indicator went out of the over-sold area, the short term outlook still seems bullish. As for now, EUR/CAD might find resistance at 1.2363 (Weekly PP), but if it is breached, then 20-day SMA
EUR/AUD continues its bearish trend that was started yesterday and has nearly reached a new low. For now, movement downwards is expected to persist, however, RSI indicator shows a buy signal, therefore soon a bullish bounce back might be expected. EUR/AUD might face support at 1.1653 (Weekly S2), but if it fails to stop bearish tendency, then next support at
After a sharp rise last week, NZD/USD has been capped by the Upper Bollinger band around 0.8133, and the pair now is moving sideways. The daily outlook is neutral, but the weekly indicators give a slight Sell signal. In case of the bearish scenario, we are likely to see the pair moving towards 200-day SMA at 0.7990.
The pair is unexpectedly continuing its downward movement, and is currently moving closer towards the weekly S1 at 0.9972. However, RSI (14) is likely to give a Buy signal in near term, so a bullish correction is highly probable. In such case, USD/CAD would be en-route towards the 200-day SMA at 1.0041.
After a slight breakout from the Channel Up pattern, AUD/USD is striving towards the Upper Bollinger band around 1.0581 and weekly R1 at 1.0576. Bearing in mind that the weekly forecast has been significantly exceeded, we are likely to experience a slight bearish movement closer to 200-day SMA around 1.0299. RSI (14) currently is likely to give a Sell signal
EUR/JPY has returned to its long-term downtrend after a steep bullish movement last week. The pair is seeking for a strong support, and is likely to find one near the Lower Bollinger band around 94.5836. However, if the slight bullish movement continues, the pair is likely to test 96.48 (20-day MA) in near term.
GBP/JPY continues its movement downwards, thus supporting the downward channel movement that started a month ago. Now bearish advance is slowly approaching weekly S1, which might prove to be support for the current fall. In case it fails to reverse current trend, then next support at 121.243 (Lower Bollinger Band) might bring some bullish impulse. As for now, RSI indicator
Bullish impetus of USD/CHF after bouncing off 0.9702/0.9692 was not strong enough in order to penetrate 0.9809/17 at the very first attempt. Accordingly, the pair is likely to stay below the resistance line for a while and it still preserves potential to overcome it after some time. Additional resistances are situated at 0.9906/23 and 1.0042/86.
USD/JPY has confronted 78.08/06, but did not manage to overcome it, resulting in commencement of recovery, which in turn is not anticipated to extend beyond 78.37, given that technical indicators on a daily timeframe give strong sell signals and thus the pair should be depressed. In the longer term, however, we expect the bearish momentum to weaken, as the currency
GBP/USD stays bound by an uptrend channel and has just recently tested an upward sloping resistance line at 1.5729/90. This implies increased possibility of bearish activity by the currency pair in the short to medium-term. The initial support lies at 1.5650, but is viewed as unable to halt the cable en route to 1.5603/1.5574, while an uptrend support at 1.5480
Support at 1.2244/33 prevented precipitous fall of EUR/USD and triggered short-squeeze. The rally is expected to be tepid, being pressured by the overall bearish bias, and should end ahead of strong resistances at 1.2376/86 and 1.2417/47. Once support at 1.2244/33 is eroded, the pair will aim for 1.2106/1.2088, while additional bearishness may result in 1.1926/1.1867 being reached.
EUR/AUD currency pair continues its bearish tendency that started on May 21th, and now it is gradually approaching Lower Bollinger Band at 1.1645, where EUR/AUD might find support for its ongoing decline. Although this support level seems strong enough to reverse current bearish trend, it still might be breached and then the next support level at 1.1626 (Monthly S3) is
Short bullish recovery, which started on the 22th of July has ended, when strong bearish momentum took place, and now EUR/CAD is about to reach a new low and is heading towards Lower Bollinger Band at 1.2240, that might prove to be support for the current movement downwards. In case bearish trend manages to breach it, then next support at
GBP/JPY has seen a sharp rebound from the Lower Bollinger Band on the 26th of July, however this bullish recovery has been stopped by the 55-day SMA, and now the bearish trend is once again in action. Now GBP/JPY currency pair is about to reach Weekly PP at 122.678 and current bearish progression might find support at 121.588 (Weekly S1).
The pair has slowed down around 0.8086 in the expectation of a potential trend change. In case of the bearish scenario, the first target for the pair is likely to be around 0.7999, where the 200-day SMA lies. However, if the bullish trend continues, we are likely to see NZD/USD hitting Upper Bollinger band at 0.8112.