Pair found initial support with the October low which could lead to moderate rally.
Pair continues to trade sideways as downtrend resistance (connecting June and July highs) proves to be too much for the pair's bulls at the moment.
Pair continues to and at the moment is facing monthly S1/weekly S2/Fibo 61.8% (September to October rally) at 0.9249/23.
Pair failed initial test at the 20-day SMA, it did not manage to consolidate above it.
As it turned out, being reassured by the daily technicals, we were too quick to suppose that the currency pair has gained a solid ground above the monthly R1 and the 100-day SMA.
The short-term prospects of USD/JPY are now somewhat clouded, being that some of the daily technical studies turned bearish ahead of the resistance at 99.87/76, even though it is formed only by the weekly R1 and the Bollinger band.
Because of the strongly bearish for the Sterling fundamentals the support line at 1.5950 was violated yesterday.
A combination of the monthly S1 and the 100-day SMA did not prove to be as strong as initially estimated—EUR/USD is already probing the August high at 1.3451.
Pair remains somewhat range bound, today increased it and dipped to October low.
Pair continues to struggle with the downtrend (connecting June and July highs) resistance.
Pair continues to depreciate and at the moment is testing the strength of 100-day SMA.
Pair continued it's rally after a bounce off October low and at the moment is consolidating above weekly R1/20-day SMA at 133.74.
Now that USD/CHF has confirmed the area at 0.9204/0.9186 (monthly R1 and 100-day SMA) as the new support, the U.S. Dollar is well-positioned to continue the advance from 0.8890 en route to the 200-day SMA at 0.9316.
Since Nov 7 the pair has been unsuccessful at overcoming the monthly R1.
Even though at a slow pace, but the British Pound is nonetheless approaching the rising support line at 1.5950, which is highly unlikely to let the price fall unhampered.
The currency pair is undergoing a bullish correction at the moment and therefore it is not expected to breach important resistances, such as the one at 1.3423/1.3396 that consists of the monthly S1 level and the 100-day SMA.
Pair seems to be rather turbulent around 0.825. It is not demonstrating willingness to fall lower, but is not capable of advancing higher either.
"The CAD looks better on the crosses. That's consistent with growth looking a little better in North American as a whole and the byproduct of that is that Canada will probably do a little better than those in the global environment."- Canadian Imperial Bank of Commerce (based on Bloomberg) Pair's OutlookPair started the week almost exactly where it ended the last
Pair started the week in a calm manner, but didn't show any bullish intentions and at the moment is trading below the weekly S1.
Pair continues to appreciate after a bounce from the October low/monthly S1 and at the moment is aiming at 55-day SMA/monthly PP.
Last week EUR/USD broke through a major up-trend support, Aug high and the 100-day SMA, meaning the currency pair is now on a long-term bearish path.
Although the Cable remained resilient to the selling pressure at first, it has finally retreated from the monthly pivot point and slid beneath the 55-day SMA.
Although the last two trading days were quite volatile for USD/JPY (last Thursday the difference between the high and low prices amounted to 180 pips), it has managed to settle above the area formed by 20, 55, 100 and 200-day SMAs.
USD/CHF opened this week with an upside gap, indicating that the resistance at 0.9204/0.9189 is now out of the way.