Despite 1.5504 proving to be a formidable support level, it has given in and thus allowed further depreciation of the British Pound. The next target of the pair resides at 1.5406/1.5389, being the last obstacle en route to 1.5283/51, where we are supposed to see an inception of a long-term upward tendency. Although it is also worthy to notice that
EUR/USD is currently rallying and is about to hit resistance at 1.2187, above which lies a subsequent level at 1.2241/62. Key resistance area is fairly wide and stretches from 1.2386 to 1.2474. It is expected to cap the pair, which may gain even more bullish momentum and attempt to extend present advancement. However, long-term outlook remains bearish and we should
Yesterday's bullish reaction did not last for long, and now USD/NOK returned to downwards trend, that was started 2 weeks ago. Although RSI indicator still remains neutral, further bearish movement could be expected, since a gap, which occurred between July 20th and July 22th might be closed in the near future, therefore short-term goal for the USD/NOK currency pair might
Bullish short-term trend that was started on July 22th has ended, when EUR/NZD currency pair touched 20-day SMA at 1.5410. Currently bearish reaction is likely to extend, being a continuation of a downward trend that began at the end of May. In addition, RSI indicator went out of the over-sold zone and now shows neutral signal and this supports the
NZD/USD is experiencing a bearish price correction on the triple top pattern today after a four consecutive day slide. The pair is currently testing the pattern's support line. In case of a further bearish movement, the pair is expected to test 0.7795 (Lower Bollinger band) in near term. If it fails to fall lower, the first bearish target could potentially
It appears that majority of traders have noticed the Channel Down pattern on the chart and are now trying to exploit it. In case of a bullish breakout, the first targets could potentially be 1.024 (Upper Bollinger band) and 1.0295 (weekly R3). In case of a slide lower, the pair is likely to test 1.0114 (100-day SMA) in near term.
The upward trend of AUD/USD has been continuing for two months now, forming an upward channel. We are likely to see lots of bullish potential today with the pair en-route to 1.0376 (200-day SMA) and 1.0390 (upper Bollinger band) in near term. At such pace, the pair is likely to reach 1.0856 (2012 high) around September 10.
EUR/JPY is on the upside today, attempting to pare yesterday's losses before the pair declines to test the Lower Bollinger band near 93.46. The first significant target for bulls stands at the 20-day MA (96.70). However, in case of a trend change closer to the end of day, we are likely to see a sharp fall towards monthly S2 at
USD/CHF remains below 0.9960 and is pulling back at the moment after yesterday's sharp rally, though retracement is not expected to extend beyond 0.9906, given that the pair preserves its upward momentum. Additional resistances are situated at 0.9999 and 1.0018/42 and guard 1.0125 for now from being attained, though they are not viewed as strong enough to contain the price
The currency pair is closing in on a recent low of 77.66, though will need first to push through two consecutive support zones at 78.16/08 and 77.94/85, the first of which has been already partially eroded. Subsequent levels are to be found at 77.33 and 76.59/39, whereas resistance that lies at 78.68, in conjunction with 78.98/79.19 and 79.25/50, will cap
GBP/USD managed to gain a foothold above 1.5504 after a precipitous dip, but is nevertheless expected to weaken further and aim for 1.5411/1.5389 initially and eventually fall down to 1.5283/51. The latter level is capable of changing the present trend to a bullish one, as it is a major downtrend support. However, the previous attempt to lift the Cable failed
EUR/USD slipped down to 1.2051 and is currently stabilising before recommencing movement towards 1.2002/1.1976, where the pair might attempt to reverse medium-term tendency, while long-term outlook, nonetheless, should remain bearish. Rally then is likely to encounter resistances at 1.2106 and 1.2187 and possibly could extend even higher.
NZD/USD is continuing its movement within a rectangle pattern, and has embarked a bullish direction. The closest targets now are 0.7950 (20-day SMA) and 0.7982 (weekly forecast target). However on the weekly target technical indicators give bearish signals , pushing NZD/USD to the lower Bollinger band at 0.7860.
Despite bearish technical indicators, USD/CAD is continuing its bullish movement within a downward channel pattern, and it is likely to be capped by 55-day SMA at 1.0228. After a potential rebound, the first targets for bears would be 20-day SMA at 1.0174 and weekly S2 at 1.070.
Aussie has started recovering after a three-day slide, and currently is moving towards the Upper Bollinger band at 1.0411. The pair is likely to test monthly R1 at 1.0470 in near-term. However, a slide to 200-day and 20-day SMA at 1.0289/44 might occur in case of new fundamental shocks.
EUR/JPY is continuing its slide on weak European fundamentals. The next targets for the pair could be 93.71 (lower Bollinger band) and Monthly S2 at 92.84. In case of a surprising trend change, bullish movements are likely to be tested by 20-day MA at 96.70. However, aggregate technical indicators solely give bullish signals on 1D, 1W and 1M timeframes.
After short-term downward trend, that started on July 13th, USD/NOK currency pair experienced a small bullish correction and is currently heading towards a resistance level at 6.1293 (Monthly PP). In case it fails to bring some bearish impetus, then next resistance at 6.1556 (Upper Bollinger Band) might be the reversal point for the current upward movement. At the same time,
USD/CHF stalled at 0.9906, being unable to overcome it. Nonetheless, one of the following attempts to breach this resistance should be successful, allowing the pair to surge further en route to 0.9960/83, while extension of a rally up to 1.0018/42 will take considerably more effort. In the meantime, supports at 0.9853 and 0.9795/72 should limit possible losses.
Support area at 78.16/08 managed to withstand yesterday's bearish pressure, but is still unlikely to hold off the currency couple from sliding down to 77.85 for a prolonged period of time. Additional supports are located at 77.33 and 76.59/39 and will be tested only in case current downward momentum strengthens as suggested by technical indicators.
The Cable has bounced off a support line at 1.5504, though gains are likely to be tepid, given that the currency pair is headed towards 1.5283/51 and long-term outlook for which is from neutral to bearish. In case of a rally, resistances at 1.5574/83 and 1.5620 will guard a key zone at 1.5724/31 from being challenged.
EUR/USD remains flat just above 1.2106, but is expected to recommence inching lower, being that indicators for daily and monthly timeframes are mostly bearish. Moreover, there are no formidable supports until 1.2020/1.1976, from where the pair might undergo a prolonged bullish correction due to a strong downtrend support.
Aussie has been on the decline for the last three trading days, and AUD/USD is currently testing the 20-day SMA at 1.0253 (near Support 2). If the level is broken, we are likely to see a slide towards parity, where activation of bulls is expected. Weekly R1 at 1.0417 is capping the pair's potential bullish moves, serving as the first
Aggregate indicators point to a continuation of the three-day downward movement of the pair closer towards the lower Bollinger band at 0.7888. If the level is broken a slide to 0.7821 (100-day SMA) is likely. The longer-term (1M) outlook is neutral and most likely will be influenced by fundamentals.
USD/CAD is edging towards the R2 (20-day SMA) at 1.0175, while a minor correction is expected today, closer to 1.0112 (Daily forecast). The first significant barrier to the pair's downfall is near the 200-day SMA at 1.0107. Meanwhile, USD/CAD bullish movements are capped by weekly R3 at 1.0257.