The bullish trend, which started yesterday, successfully managed to continue, as today EUR/CAD experienced another bullish correction. At the particular moment the currency couple is about to test the weekly R2 at 1.2726, which will probably bring some bearish momentum. If it fails to stop the rally, then next resistance at 1.2758 (weekly R3) might change the direction of the
Today the EUR/AUD currency couple experienced a significant bullish advance, which has already managed to breach the upper Bollinger band at 1.2510, and now the price is approaching the weekly R3 at 1.2575, which might slow down the prevailing rally, In case it is broken, then the currency pair might reach the monthly R2 at 1.2740, which in turn is
Since NZD/USD has lingered near the upper limit of the bullish channel for the last 16 days, it creates suspicion that the pair is forming a rising wedge pattern, downward breakout of which generally occurs more often than the upward one. The nearest support is at 0.8243, but is not deemed capable of halting the possible dip. Level at 0.8181
The currency pair is presently well-positioned to trim its prior gains since September 14, being unable to continue its advancement above 0.9859/64. In order to confirm bearish intentions, USD/CAD should violate 0.9806/0.9798, this is turn will allow the price to go as low as 0.9717 or even 0.9678/70 in light of absence of any notable supports nearby.
AUD/USD did not yet close beneath 1.0342/20, a key support, but there are already few reasons to believe the bullish outlook will be preserved. Following a breakout of an uptrend support line we are likely to observe an extension of a dip down to 1.0133 with a scope of a further decline to 0.9915. In order to rule out the
An uptrend resistance line at 101.05 curbed the latest rally of EUR/JPY after it had rebounded from a 38.2% Fibo retracement level for a move started on July 25. Once 100.61/55 is eroded, the Euro will be poised for further losses against the Yen, down to 100.14 initially, then to a formidable area at 99.04/98.45, mainly reinforced by 55 and
Formidable resistance at 0.9414/26 halted advancement of the pair, implying that the recent rally was simply a bullish correction and USD/CHF should now continue to drift lower. The initial target for the price lies at 0.9346, although a real test of bearish momentum will occur once the pair dips to 0.9245/34, as it was unable to breach it earlier.
USD/JPY attempts to erode 77.99/78.10, but lacks bullish impetus in order to negate selling pressure and pave the way towards subsequent resistances, which are located at 78.41 and 78.72/78, These levels are expected to fall victims to a robust recovery of the pair eventually, but not at the moment. Meanwhile, dips are to be contained by 77.43/26 in conjunction with
GBP/USD appears to be willing to challenge 1.6233 once again, given that an uptrend support at 1.6100/1.6085 withstood downward push and short-term indicators point to the upside. However, the rally should be capped at 1.6300/44, even if the price does close above 1.6233, since in the long run the currency couple is deemed to be bearish.
A two-week decline was ensued by a strong rally from 1.2826/1.2791, which is able to extend further, up to 1.34. Once 1.3151/71 is overcome, the way will be cleared towards a major downtrend resistance line, from where EUR/USD is expected to slide down for a protracted period of time. This view is also reinforced by monthly technical indicators and medians
The NZD/USD currency couple keeps moving inside the bullish price channel, and today the currency pair rebounded from the Weekly PP at 0.8270, and now the price is slowly approaching the upper Bollinger band at 0.8366, which is likely to slow down the prevailing tendency. In case it is breached, then next resistance at 0.8448 (Monthly R1) will probably bring
The interim uptrend failed to continue, as today USD/CAD experienced a significant bearish correction, and now the currency couple is about to test the weekly S1 at 0.9779, however, if it is broken, then the price might reach the lower Bollinger band at 0.9718, which in turn is expected to change the direction of the prevailing tendency. Moreover, RSI indicator
Today the AUD/USD currency pair rebounded from the support line of the rising wedge pattern at 1.0350, and now the bullish trend is in action. As for now, the price confronts the Monthly PP at 1.0378, which might bring some bearish impetus, however, if it is breached, then next resistance at 1.0432 (55-day SMA) will probably reverse the direction of
The interim bearish tendency seems to have finally ended, as today the EUR/JPY currency couple experienced a significant bullish correction, which has already managed to overcome the Monthly PP at 100.55. At the particular moment the price confronts the Weekly R1 at 100.95, which might slow down the rally. In case the uptrend prevails, then the currency pair is likely
Whether EUR/USD manages to secure its medium-term bullish outlook depends on toughness of support at 1.2792, which is formed by the 200 day SMA and an uptrend support line that shaped the rally since July 25. Absence of any significant resistances up until 1.3151/54 is also worthy of notice, as it increases the chance of a pair's recovery from the
USD/CHF has violated both a downtrend resistance line and the 200 day SMA, leaving 0.9472/78 exposed. Still, upward momentum is weak, implying that bullish correction might soon come to an end. Being that indicators are mixed at the moment, the pair is expected to consolidate near 0.9413 before making any pronounced movements.
Range of USD/JPY narrows, as it is being contained by two converging lines. One of them has kept the price in a downtrend since March 15, while the other has underpinned the pair for nearly a year. Therefore we would expect a breakout of a downward sloping line due to support's seniority and a subsequent surge of USD/JPY above 78.41
Rally above 1.6223 proved to be unsustainable, sending the cable back beneath 1.6170. Support at 1.6100/1.6085, however, halted depreciation of the Sterling and may provide sufficient bullish impetus for the price to retest a major downtrend resistance at 1.6223, although long-term technical indicators give "sell" signals and thus advancement is unlikely to be continued from there.
Yesterday's bullish correction failed to continue, as today the XAU/USD exchange rate experienced a slight bearish reaction. As for now, the price is about to test the weekly PP at 1769, however, if it fails to stop the prevailing movement downwards, then the exchange rate might reach the 20-day SMA, which in turn is expected to reverse the current downtrend.
Today GBP/JPY experienced a significant bearish reaction, and at the particular moment the GBP/JPY currency pair is slowly moving towards 55-day SMA at 124.58, which will probably reverse the prevailing movement downwards. If it is broken, then next support at 124.17 (lower Bollinger band) is very likely to bring some bullish impetus. Moreover, RSI indicator shows a neutral signal, although
The downtrend, which started a couple of days ago, successfully managed to continue, and today the EUR/CAD currency pair experienced another bearish decline. At the particular moment the currency couple is heading towards the 20-day SMA at 1.2634. If it is breached, the the price might reach the weekly S1 at 1.2607, which in turn will probably bring some bullish
The bearish tendency, which started more than a week ago, has finally ended, as today the EUR/AUD currency couple experienced a bullish correction. As for now, the price confronts the 200-day SMA at 1.2420, which is expected to change the direction of the prevailing uptrend, however, if it fails to slow down the rally, then next resistance at 1.2480 (upper
Recent developments allow us to believe that pair is range bound between weekly pivot (S1) at 1.035 and 1.045 and is currently depressed slightly below monthly pivot (PP)/Fibonacci retracement (50% of move since 6th of September) at 1.0404. As technical indicators point at appreciation of the pair it is likely it will bounce of the support levels below.
After sharp appreciation pair rebounded from 14th of September high at 0.8352 and is currently hovering slightly above major (psychological) level at 0.8300. It is likely pair will drop all the way to weekly pivot (PP) at 0.8270 or Fibonacci retracement (23.6% of move since 5th of September), but should pick up once again after that.