Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

USDCAD Faces More Bull Pressure Short Term

USDCAD faces more bull pressure short term as it looks to extend its strength. Support comes in at the 1.3250 level where a break will aim at the 1.3200 level. Further down, support comes in at the 1.3150 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.3100 level. Conversely, resistance lies at the 1.3350 level where a violation will target the 1.3400 level. Further up, resistance resides at the 1.3450 level and then the 1.3500 level. All in all, USDCAD looks to weaken further lower.

 

[FXTechstrategy]

EURJPY Retains Downside Pressure With Eyes On 125.53 Zone

EURJPY retains downside pressure with eyes on 125.53 zone. Support comes in at the 125.50 level where a break if seen will aim at the 125.00 level. A cut through here will turn focus to the 124.50 level and possibly lower towards the 124.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 126.50 level. Further out, we envisage a possible move towards the 127.00 level. Further out, resistance resides at the 127.50 level with a turn above here aiming at the 128.00 level. On the whole, EURJPY faces further price weakness in the short term.

 

[FXTechstrategy]

USDCHF Risk Remains Higher With Eyes On The 1.0127 Zone

USDCHF risk remains higher with eyes on the 1.0127 zone as it expects more strength in the new week towards its key resistance. Resistance stands at the 1.0150 level. A break of there will clear the way for a run at the 1.0200 level. Above here, resistance lies at the 1.0150 level and then the 1.0250 level. Its weekly RSI is bullish and pointing higher suggesting further upside. On the downside, support is seen at the 1.0000 level. A turn below here will set the stage for more decline towards the 0.9950 level. And then the 0.9900 level. Further down, support resides at the 0.9850 level. All in all, USDCHF faces further upside pressure following its higher close the past week.

 

[FXTechstrategy]

EURUSD Threatens Further Upside Pressure Towards 1.1340 Zone

EURUSD threatens further upside pressure towards 1.1340 zone. This is coming on the back of its Tuesday gain. Support comes in at the 1.1250 where a break will aim at the 1.1200 level. A break below here will target the 1.1150 level. Further down, support lies at the 1.1100. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD continues to threaten further upside pressure.

 

[FXTechstrategy]

EURUSD Bull Pressure Remains Towards Major Resistance At 1.1419 Area

EURUSD bull pressure remains towards major resistance at 1.1419 area. This is coming on the back of its recent gain. Support lies at the 1.1300 where a break will turn attention to the 1.1250 level. A break below here will target the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.14050 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD continues to threaten further upside pressure.

 

[FXTechstrategy]

USDCAD Eyes More Upside Pressure On Corrective Recovery

USDCAD eyes more upside pressure on corrective recovery as it saw a rally on Thursday. Support comes in at the 1.3300 level where a break will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.3150 level. Conversely, resistance lies at the 1.3400 level where a violation will target the 1.3450 level. Further up, resistance resides at the 1.3500 level and then the 1.3550 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCAD looks to strengthen further higher on more correction.

 

[FXTechstrategy]

USDJPY Halts Weakness With Eyes On More Recovery

USDJPY eyes more recovery following its price halt on Thursday. As long as it stays above the 110.35 support zone, more price strength is expected. On the upside, resistance comes in at 111.50 level. Above this level will turn attention to the 112.00 level. Further out, we expect a possible move towards the 112.50 level. A cut through here will open the door for more gain towards the 113.00. On the downside, support comes in at the 110.50 level where a break will target the 110.00 level. Below that level will turn focus to the 109.50 level and then lower towards the 109.00 level. On the whole, USDJPY faces further upside pressure on further recovery.

 

[FXTechstrategy]

NZDUSD Loses Upside Momentum With Risk Seen Towards 0.6808

NZDUSD loses upside momentum with risk see towards 0.6808 in the new week. Resistance comes in at the 0.6900 level where a break will turn attention to the 0.6950 level. A break of here will have to happen to create scope for a move higher towards the 0.7000 level. Further out, resistance resides at the 0.7050 level. Support stands at the 0.6850 level. Further down, the 0.6800 level comes in as the next downside target and then the 0.6750 level. All in all, NZDUSD faces further downside pressure on price rejection.

 

[FXTechstrategy]

EURUSD Expects More Weakness On Price Rejection

EURUSD expects more weakness on price rejection following its lower close the past week. Support stands at the 1.1250 where a break will turn attention to the 1.1200 level. A break below that level will target the 1.1150 level. Further down, support lies at the 1.1100. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to threaten further downside pressure.

 

[FXTechstrategy]

GOLD Looks To Pullbacks On Corrective Weakness

GOLD looks to pullback on corrective weakness. While the commodity trades below the 1,320.35 level, risk of more decline remains. The commodity looks to move higher towards the 1,320.00 resistance zone. Further out, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. On the downside, support comes in at the 1,300.00 level where a break will turn attention to the 1,290.00 level. Further down, a cut through here will open the door for a move lower towards the 1,280.00 level. Below here if seen could trigger further downside pressure targeting the 1,270.00 level. All in all, GOLD looks to move further lower on correction.

 

[FXTechstrategy]

GBPUSD Looks To Follow Through Higher On Correction.

GBPUSD looks to follow through higher on correction. Support stands at 1.3150 level. Further down, support comes in at the 1.3100 level where a break will turn focus to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. On the upside, resistance stands at the 1.3250 with a turn above here allowing for additional strength to build up towards the 1.3300 level. Further out, resistance stands at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD faces further upside pressure on more recovery threats.

 

[FXTechstrategy]

EURUSD Sets Up To Resume Downside Pressure

EURUSD sets up to resume downside pressure following reversal of its Monday losses during Tuesday trading session. Support comes in at the 1.1250 where a violation will turn risk to the 1.1200 level. A break below here will target the 1.1150 level. Further down, support sits at the 1.1100. Conversely, on the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to threaten further downside pressure on price weakness.

 

[FXTechstrategy]

EURUSD Sets Up To Resume Downside Pressure

EURUSD sets up to resume downside pressure following reversal of its Monday losses during Tuesday trading session. Support comes in at the 1.1250 where a violation will turn risk to the 1.1200 level. A break below here will target the 1.1150 level. Further down, support sits at the 1.1100. Conversely, on the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to threaten further downside pressure on price weakness.

 

[FXTechstrategy]

EURJPY Looks To Resume Downside Pressure

EURJPY looks to resume downside pressure despite its present price hesitation threats. Support comes in at the 124.00 level where a break if seen will aim at the 123.50 level. A cut through here will turn focus to the 123.00 level and possibly lower towards the 123.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 125.00 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further price weakness nearer term.

 

[FXTechstrategy]

USDJPY Recovery Threat Eyes The 111.15/29 Resistance Zone

USDJPY recovery threat eyes the 111.15/29 resistance zone. On the upside, resistance comes in at 111.00 level. Above this level will turn attention to the 111.50 level. Further out, we expect a possible move towards the 112.00 level. A cut through here will open the door for more gain towards the 112.30. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the downside, support comes in at the 110.00 level where a break will target the 109.50 level. Below that level will turn focus to the 109.00 level and then lower towards the 108.50 level. On the whole, USDJPY faces further upside pressure on more recovery.

 

[FXTechstrategy]

GBPUSD Retains Downside Pressure Short Term

GBPUSD retains downside pressure in the short term as it closed lower on Friday. Support stands at 1.3000 level. Further down, support comes in at the 1.2950 level where a break will turn focus to the 1.2900 level. Further down, support lies at the 1.2850 level. Below here will set the stage for more weakness towards the 1.2800 level. On the upside, resistance stands at the 1.3050 with a turn above here allowing for additional strength to build up towards the 1.3100 level. Further out, resistance stands at the 1.3150 level followed by the 1.3200 level. On the whole, GBPUSD faces further downside pressure on more weakness threats.

 

[FXTechstrategy]

EURUSD Faces Further Bearishness Towards Key Support

EURUSD faces further bearishness towards its key support. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Its weekly RSI is bearish and pointing lower suggesting more weakness. Conversely, on the upside, resistance resides at 1.1250 level with a break through there opening the door for further upside towards the 1.1.1300 level. Further up, resistance comes in at the 1.1350 level where a violation will expose the 1.1400 level. All in all, EURUSD faces further bearishness on price decline

 

[FXTechstrategy]

GOLD Eyes 1,310.00 Resistance Zone On Bull Pressure

GOLD eyes 1,310.00 resistance zone on further strength. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Conversely, resistance resides at the 1,310.00 level. Further out, resistance resides at the 1,320.00 level where a break will aim at the 1,330.00 level. A turn above there will expose the 1,340.00 level. Further out, resistance stands at the 1,350.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GOLD looks to move further higher on bull pressure.

 

[FXTechstrategy]

USDJPY Sees Rally With Eyes On 111.82 Zone

USDJPY sees rally with eyes on 111.82 zone in the days ahead. On the upside, resistance comes in at 112.00 level. Above this level will turn attention to the 112.50 level. Further out, we expect a possible move towards the 113.00 level. A cut through here will open the door for more gain towards the 113.50. On the downside, support comes in at the 111.00 level where a break will target the 110.50 level. Below that level will turn focus to the 110.00 level and then lower towards the 109.50 level. On the whole, USDJPY sees rally with eyes on 111.82 zone in the days ahead.

 

[FXTechstrategy]

EURUSD Sets Up To Extend Recovery Threats

EURUSD sets up to extend recovery threats as the pair still retains its upside pressure. Support comes in at the 1.1250 where a violation will turn risk to the 1.1200 level. A break below here will target the 1.1150 level. Further down, support sits at the 1.1100. Conversely, on the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD sets up to extend recovery threats on upside pressure.