After sharp jump yesterday due to Mario Draghi's coments on the future ECB policies, EUR/JPY is set for a slight downward correction today. The first significant target for bears is near the weekly S1 at 94.3116. However, if bulls take over the initiative on the market, we are likely to see the pair testing 20-day MA at 96.69 in near
USD/CHF has plunged below 0.9813/0.9795 and may even extend the dip to 0.9717/0.9680, behaviour after encounter with which is likely to determine whether the pair will preserve the bullish outlook or change it to the bearish one. A close below 0.9717/0.9680 would imply intention of the price to aim for 0.9352/42 in the long-term, while a simple test would reassure
Robust advancement of USD/JPY was not carried into the next day. Consequently, the pair continues to gravitate towards 78.16/08, which now has an increased possibility of being eroded. Additional support may be found at 77.85/82, followed by 77.66. Resistances, on the other hand, are situated at 78.68 and 78.92/98 and are viewed as able to contain the price in case
Yesterday the Cable effortlessly pierced through several resistances, but faltered ahead of the major area at 1.5715/27, which has again proved to be impenetrable. Above it lie levels at 1.5765 and 1.5841, though they seem to be safe for now. An interim support at 1.5620 may be soon tested as a result of a likely pullback following a sharp rally.
Neither 1.2187 nor 1.2236/62 managed to halt the currency pair and thus exposed a subsequent key area at 1.2386/1.2474. The latter resistance is highly unlikely to be violated, given that it is a confluence of several resistances, including 55 day SMA and monthly S1. Accordingly, our favoured scenario is a rebound from this zone and revitalisation of bearish activity.
Although RSI indicator shows neutral signal, the bearish reaction that started yesterday continues, and now EUR/NZD currency pair is heading towards an interim support at 1.5275 (Lower Bollinger Band). This level is very likely to reverse the trend to bullish, however, if it is broken, the subsequent support at 1.5144 (Weekly S1) might be the changing point for the current
Today USD/NOK continued its movement downwards, which was started yesterday, and the currency pair has already managed to close the gap at 6.0720. Now it is heading towards a new low in the bearish channel, which was started 2 weeks ago. Current support level is 55 say SMA at 6.0369, but in case it fails to prevent bearish trend from
Reserve Bank of New Zealand's rate announcement has given the market a positive impulse, especially on the NZD/USD pair, and the pair is augmenting for the second consecutive day. The closest bullish target is likely to be the Upper Bollinger band at 0.8046. In case of a downward correction, we might see the pair testing 0.7850 (Weekly S2).
Despite a neutral daily outlook, USD/CAD is continuing its slide, and now is reaching towards the weekly S2 at 1.0019. The pair is also continuing its Downward Channel movement, so a trend change is likely in near-term. All traders should pay attention to the psychological parity level (1.00), which is likely to be a strong support for the pair. If
Aussie's rally against Greenback is continuing, and the pair is likely to test the upper Bollinger band at 1.0373 in near term. In case of a successful breach, the pair is likely to be en-route towards 1.0470. the monthly R1, significantly exceeding monthly forecast. After such a sharp climb, there is an increased risk of a bearish correction to weekly
EUR/JPY is going through a slight bullish correction for the second day now after almost two months of persistent decline. 98.534 (55-day SMA) could serve as the first cap for the pair in near term. In case of continuous downtrend, traders should watch weekly S3 at 91.93 as the first target.
USD/CHF has strongly bounced off 0.9960/70 and breached an interim support at 0.9906, which has now become a resistance level. The currency pair may be a subject to a further decline down to 0.9853 or 0.9810/0.9795, but as long as a key zone at 0.9716/0.9680 stays intact, USD/CHF will remain bullish, being that most of technical indicators give buy signals
Even though 78.16/08 at first appeared to be incapable of halting USD/JPY, the price is increasing the distance from it at the moment. Nevertheless, the rebound should remain shallow, being that the currency pair has confirmed its intention to fall lower. Supports are at 77.85/84 and 77.66, while an initial resistance is rather far from the current price - at
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