Pair started the week with a bounce from 20-day SMA/weekly PP.
Weekly pivot at 1.042 caused a major sell off of the pair which channels further bearishness.
Pair has been capped by the 95 cent level for quite some time, but as we can see, it started the week with clear intention to advance above it.
Pair started the week in a rather calm manned very close to where it ended the last week.
Even though USD/CHF is broadly considered to have bottomed out already, the rate continuously fails to climb back above the June low.
After effortlessly passing through the 200-day SMA USD/JPY encountered strong resistance in the face of the moving averages for 55 and 100 periods.
The Cable still gravitates towards the lower boundary of the bullish channel it has been trading within for more than three months.
Although EUR/USD does not appear to be in a hurry to rise, the currency is more inclined to move higher from here, being that the price remains above the up-trend support line that has been proving to be topical since mid-May.
Bulls continue to push the pair higher once it bounced from 0.822 yesterday.
Pair keeps struggling to consolidate above 1.039.
Pair is continuing to demonstrate mildly bullish attitude, but remains capped by the resistance at 95 cents.
Pair has been bearish for quite some time, but it seems that bullish impetus given by the 55-day SMA has uplifted most of the pressure from the pair.
An attempt of USD/CHF to surpass the June low after receiving a strong boost turned out to be unsuccessful.
Despite the falling trend-line at 97.64 being in the way, USD/JPY has successfully rallied and is already trading above the 200-day SMA that also posed a considerable threat to the upward momentum.
Just like EUR/USD, the Cable has run into a cluster of supports that are not letting the price to go any lower. Therefore GBP/USD considered to be bullish in the short run.
Despite the bearishness shown two days ago EUR/USD preserves the potential to advance farther, being that the lower boundary of the rising change at 1.3536/24 still holds.
Bears kept the pressure on the pair, but failed to push it below 0.882, which gave enough of an impetus to return the pair to the vicinity of the 20-day SMA/weekly PP.
"We've seen some signals the U.S. slowdown may spill over to Canada, and we've had some weak trade numbers. The Canadian dollar has really been sidelined and moving sideways for the past couple of weeks and I don't think that's going to change in the near term." - Toronto-Dominion Bank (based on Bloomberg)Pair's OutlookIt seemed that the pair is on the
It seems that the pair has lost momentum and will not advance above 0.95 in the nearest future.
Pair failed at weekly and monthly PP yesterday, but is retesting it today.
The currency pair has quickly covered the distance between the February and June lows and is now forcing its way through the resistance at 0.9128.
USD/JPY's behaviour after the FOMC meeting was consistent with the reaction of other currency pairs, namely characterised by a pronounced appreciation of the Dollar.
The rising trend-line that has been safeguarding Cable's bullish tendency since Jul 10 failed to halt emergence of a long red bar on the chart, opening the way for the currency pair to descend down to 1.5965/26.
Yesterday factors other than technicals dominated the market, invoking ubiquitous strengthening of the U.S. Dollar.