Presently the spot price is above the 100-day SMA, however, the rally is unlikely to be sustained as in the recent cases, given that formidable resistance levels lie overhead. AUD/USD could potentially climb over 1.0419/26, if we rely on daily technical indicators, but the pair should be capped by an area at 1.0472/88 and thus remain within a slightly downward
It appears that the currency couple is forming a rising wedge pattern on a daily chart at the moment ahead of a major down-trend resistance line that halted rallies for more than three years. Being that the wedge is a reversal pattern, we favour a strong rejection of the pair once it approaches an apex located at a 106 level
The uptrend, which started two days ago, managed to continue, and today the XAU/USD exchange rate experienced another slight bullish correction. AT the particular moment the exchange rate is about to test the 20-day SMA at 1729, which might slow down the current rally. In case it is breached, then the price is very likely to reach the 55-day
The bullish trend, which started a couple of days ago, successfully managed to continue, as today GBP/JPY experienced another movement upwards. As for now, the currency pair is gradually heading towards the monthly R1 at 129.59, which might bring some bearish momentum, however, if it is breached, then the price might reach the upper Bollinger band at 129.95, which in
The interim bullish trend, which started a couple of days ago, has failed to continue, as today the EUR/CAD currency pair experienced a slight bearish reaction, and at the particular moment the price is heading towards the monthly PP at 1.2909, which might bring some bullish impulse. However, if it fails to stop the downtrend, then the currency couple will
The bearish tendency, which started yesterday, successfully managed to continue, as today the EUR/AUD currency couple experienced another consequent decline, which has already managed to to breach the 55-day SMA, and now the price is slowly approaching the 200-day SMA at 1.2427, which is very likely to stop the prevailing downtrend. In case it is broken, then the currency pair
USD/CHF stayed below the 55-day SMA for the last two months and currently appears to be lacking bullish momentum in order to overcome it. Accordingly, the price may fall as low as 0.9222/0.9194 in the nearest future prior to receiving sufficient upward impetus to challenge the moving average once again. Still, the long-term outlook is from neutral to negative, since
Latest price action indicates increased possibility of a further appreciation of the U.S. Dollar relatively to the Japanese Yen, as during the recent consolidation phase the 200-day SMA successfully underpinned USD/JPY, preventing a reversal. The nearest resistance is at 80.27, followed by 80.54 and 80.89/90, while 79.74/59 should act as a floor for now.
The cable failed to close beneath the 55-day SMA for two consecutive days and is presently headed towards a major downtrend resistance line at 1.6164/99, as suggested by weekly technical indicators. In the meantime, near-term dips are to be contained by a formidable cluster of supports that stretches from 1.6086 down to 1.6047.
After a robust rally EUR/USD has formed a pin bar, implying significant selling pressure zone located above the current price, namely around weekly and monthly pivot points and the 20-day SMA. However, the pair preserves potential to advance and attempt to return to an up-trend resistance line it has breached in the beginning of the previous week.
The bullish correction, which started yesterday, successfully managed to continue, as today the XAU/USD exchange rate experienced another bullish advance. As for now, the price is heading towards the 20-day SMA at 1731, which might slow down the current rally. In case it is breached, the the exchange rate will probably reach the 55-day SMA at 1740, which in turn
Today the GBP/JPY currency couple experienced a significant bullish advance, which has already managed to breach the monthly R1, and at the particular moment the currency pair is slowly approaching the upper Bollinger band at 129.78, which is expected to stop the prevailing uptrend. In case it is broken, then the price might reach the weekly R2 at 131.07, which
Today EUR/CAD experienced another consequent bullish advance, therefore supporting the interim bullish trend, and now the currency couple is about to test the weekly PP at 1.3016, which might bring some bearish momentum. In case it fails to stop the current tendency, then the price will probably reach the upper Bollinger band at 1.3099, which in turn is expected to
Today the EUR/AUD currency pair experienced another slight bullish correction, and at the particular moment the currency couple is gradually approaching the monthly R1 at 1.2555, which might slow down the prevailing rally, however, if the support level is breached, then the price is very likely to advance even further until the 20-day SMA at 1.2584, which in turn will
For the past 6 trading days pairs moves were mostly within 20 bar SMA-upper Bollinger band boundaries. Suspicions that pair is range bound became even stronger yesterday, and, especially, today as pairs moves were no larger than 38 and 28 pips respectively. It does not seem that we will see much of a difference in the near future as well.
Pair dipped to 0.996, where it received a bullish impetus from monthly and weekly pivot points, R1 and PP respectively, and returned slightly above parity condition. Pair should not manage to maintain its current stand for long and we should see a bearish correction very soon. Such turn of events is predicted by the Stochastic indicator as well.
Pair once again tried to advance, but did not manage to stay above weekly pivot (PP) at 1.0378 for long. At the moment it is hovering slightly below 100 bar SMA at 1.0367. It might be that pair will try to step up once more, but it becomes evident that bearish dip, pointed out by Stochastic indicator, is just around
After bouncing from 102.20 pair is continuing its rally. On the way it breached weekly pivot and now set eyes on 104/104.11 area. Technical ideas support the idea that pair should advance further but it is highly unlikely it will stay above 104 JPY for a long time.
USD/CHF pair yesterday accomplished a small correction from touching the 55-day SMA at 0.9374 and pulling back till 0.9300. However, the price settled above the 20-day SMA and currently tries to overcome it. If this is successful, the price will depreciate till 0.9276, where the weekly S1 and historical levels go.
As yesterday USD/JPY pair experienced a spike down after the Japanese central bank decision on easing policy, the price has retreated and closed just above the 200-day SMA level. Today the prices continues decrease and approaches same level at 79.61. If this movement is successful, than we might expect a further price decrease and 79.07/12 level testing.
As we predicted yesterday, GBP/USD retreated back and is around a 1.6075/85 level, where the 55-day SMA and the monthly PP levels go. Now the situation and a further movement depends on which side of this level the price will settle. Next resistance levels are: the Bollinger band at 1.61450 and the downtrend line with the weekly R1 line at
As we can see from a graph, the 200-day SMA level at 1.2900 was strong enough to stop a EUR/USD decrease and push the pair up to check the 1.2963/73 area, where the 20-day SMA and the weekly PP lie. However, this currency pair forms a taper triangle with a narrowing range of fluctuation, together with all time frames RSI
Today the XAU/USD exchange rate experienced a small bullish correction, and now the price confronts the weekly PP at 1714, which is very likely to bring some bearish impetus. In case it is breached, then the exchange rate will probably reach the 20-day SMA at 1733, which in turn might stop the current movement upwards. Additionally, the overall indicator outlook
The bullish trend, which started a couple of days ago, has failed to continue, as today GBP/JPY experienced a slight bullish advance, and at the particular moment the price is about to test the weekly PP at 128.16. In case it is broken, then the currency couple might reach the upper Bollinger band at 129.65, which in turn will probably