Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

EURGBP Bullish With Further Price Extension

EURGBP bullish with further price extension expected in the new week. On the downside, support stands at the 0.8850 level where a violation will turn focus to the 0.8800 level. A break below here will aim at the 0.8750 level.. Conversely, resistance lies at the 0.8950 level. A violation if seen will turn risk towards the 0.9000 level. Further up, resistance comes in at 0.9050 level followed by the 0.9100 level. All in all, EURGBP remains biased to the upside on more recovery gain

 

[FXTechstrategy]

USDCHF Declines With Eyes On Support At 0.9853 Level

USDCHF declines with eyes on support at 0.9853 level. This is supportive of its current short term weakness. Resistance resides at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance comes in at the 1.0100 level. On the downside, support is seen at the 0.9850 level with a turn below here setting the stage for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support resides at the 0.9700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF targets further weakness in the days ahead.

 

[FXTechstrategy]

GBPUSD Sees Price Reversal With Eyes On The Upside

GBPUSD sees price reversal with eyes on the upside in the days ahead. Support lies at 1.2700 as it looks for more weakness. Below that level will turn attention to the 1.2650 level. Further down, support comes in at the 1.2600 level where a break will turn focus to the 1.2550 level. Further down, support lies at the 1.2500 level. On the upside, resistance stands at the 1.2750 with a turn above here allowing for additional strength to build up towards the 1.2800 level. Further out, resistance stands at the 1.2850 level followed by the 1.2900 level. On the whole, GBPUSD sees price reversal with eyes on the upside.

 

[FXTechstrategy]

USDCHF Recovery Threats Expected In The New Week

USDCHF recovery threats expected in the new week following its past week gain. Resistance resides at the 1.0000 level. Above here, resistance lies at the 1.0050 level and then the 1.0100 level. Further out, resistance comes in at the 1.0150 level. Its weekly RSI is bullish and pointing higher suggesting further upside pressure. On the downside, support is seen at the 0.9950 level with a turn below here opening the door for more decline towards the 0.9900 level. And then the 0.9850 level. Further down, support resides at the 0.9800 level. All in all, USDCHF targets further recovery on correction.

 

[FXTechstrategy]

CRUDE OIL Recovers Further Higher On Correction

CRUDE OIL recovers further higher on correction. Support lies at the 53.00 level where a break will expose the 52.30 level. A cut through here will set the stage for a run at the 52.00 level. Further down, support comes in at the 51.50 level. On the upside, resistance resides at the 53.50 levels. Further out, resistance comes in at the 54.00 level. A break above here will aim at the 54.50 level and then the 55.00 level followed by the 55.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, CRUDE OIL recovers further higher on correction.

 

[FXTechstrategy]

EURUSD Remains Bullish With Eyes On 1.1347 Resistance

EURUSD remains bullish with eyes on 1.1347 resistance in the days ahead. 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 1.1347 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. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD expects more recovery to occur in the days ahead.

 

[FXTechstrategy]

USDCHF Tumbles Lower On Bearishness

USDCHF tumbles lower on bearishness with more weakness expected in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support resides at the 0.9550 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF targets further weakness in the days ahead.

 

[FXTechstrategy]

EURUSD Eyes Further Upside Pressure On Bull Pressure.

EURUSD eyes further upside pressure on bull pressure as we enter a new week. Support comes in at the 1.1300 where a violation will turn risk to the 1.1250 level. A break below here will target the 1.1200 level. Further down, support sits at the 1.1150. Conversely, on the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD expects more recovery in the new week.

 

[FXTechstrategy]

USDCHF Turns Off Higher Level Prices

USDCHF turns off higher level prices leaving risks of more weakness on the cards. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support resides at the 0.9550 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains weak and vulnerable on price rejection.

 

[FXTechstrategy]

EURUSD Looks To Weaken Further Lower Towards 1.1282

EURUSD looks to weaken further lower towards 1.1282. Support comes in at the 1.1350 where a violation will turn risk to the 1.1300 level. A break below here will target the 1.1250 level. Further down, support sits at the 1.1200. Conversely, on the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD expects more weakness on correction.

 

[FXTechstrategy]

GOLD Trades Below Key Resistance Zones

GOLD trades below key resistance zones as it looks to follow through lower on the back of its price rejection. On the downside, support comes in at the 1,408.00 level where a break will turn attention to the 1,400.00 level. Further down, a cut through here will open the door for a move lower towards the 1,390.00 level. Below here if seen could trigger further downside pressure targeting the 1,380.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 1,420.00 level. Further out, resistance resides at the 1,430.00 level where a break will aim at the 1,440.00 level. A turn above there will expose the 1,450.00 level. Further out, resistance stands at the 1,460.00 level. All in all, GOLD looks to weaken further on corrective pullbacks

 

[FXTechstrategy]

GOLD Nearer Term Price Weakness Remains Valid

GOLD nearer term price weakness remains valid as it looks for more weakness. On the downside, support comes in at the 1,390.00 level where a break will turn attention to the 1,380.00 level. Further down, a cut through here will open the door for a move lower towards the 1,370.00 level. Below here if seen could trigger further downside pressure targeting the 1,360.00 level. Conversely, resistance resides at the 1,400.00 level. Further out, resistance resides at the 1,410.00 level where a break will aim at the 1,420.00 level. A turn above there will expose the 1,430.00 level. Further out, resistance stands at the 1,440.00 level. All in all, GOLD looks to strengthen further in the short term.

 

[FXTechstrategy]

AUDUSD Downside Pressure Remains Towards 0.6850

AUDUSD downside pressure remains towards 0.6850 level as we expect more weakness to occur. On the upside, resistance lies at the 1.6950 level. A cut through here will turn attention to the 0.7000 level and then the 0.7150 level where a violation will set the stage for a retarget of the 0.7200 level. Support resides at the 0.6850 level where a breach will aim at the 0.6800 level. Below here will set the stage for a run at the 0.6750 level with a cut through here targeting further downside pressure towards the 0.6700 level. On the whole, AUDUSD faces further downside threats medium term.

 

[FXTechstrategy]

EURUSD Price Strength Builds Up On 1.1311 Region

EURUSD price strength builds up on 1.1311 region as it closed higher on reversal on Wednesday. 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. Conversely, on the upside, resistance comes in at 1.1300 level with a break through there opening the door for further upside towards the 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD looks for more recovery to occur in the days ahead.

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[FXTechstrategy]

EURUSD Eyes Further Recovery Short Term

EURUSD eyes further recovery short term as it looks to extend gain in the new week. 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. Conversely, on the upside, resistance resides at 1.1300 level with a break through there opening the door for further upside towards the 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD expects more recovery to occur in the days ahead.

 

[FXTechstrategy]

USDCHF Retains Its Downside Pressure

USDCHF retains its downside pressure as it looks to weaken further in the days ahead. Resistance resides at the 0.9850 level. Above here, resistance lies at the 0.9900 level and then the 0.9950 level. Further out, resistance comes in at the 1.0000 level. On the downside, support is seen at the 0.9750 level with a turn below here opening the door for more decline towards the 0.9700 level. And then the 0.9650 level. Further down, support resides at the 0.9600 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further corrective weakness.

 

[FXTechstrategy]

GBPJPY Bear Pressure Remains Towards 133.84

GBPJPY bear pressure remains towards 133.84 support zone as we expect more weakness. On the downside, support comes in at the 134.00 level where a violation will aim at the 133.50 level. A break below here will target the 133.00 level followed by the 132.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 135.00 level followed by the 135.50 level. A cut through that level will set the stage for a move further higher towards the 136.00 level. Further out, resistance resides at the 136.50 level. All in all, GBPJPY remains biased to the downside nearer term.

 

[FXTechstrategy]

EURUSD Targets Immediate Resistance At 1.1161 Level

EURUSD targets immediate resistance at 1.1161 level as we enter the new week. Support comes in at the 1.1050 where a violation will turn risk to the 1.1000 level. A break below here will target the 1.0950 level. Further down, support sits at the 1.0900. Conversely, on the upside, resistance resides at 1.1150 level with a break through there opening the door for further upside towards the 1.1.1200 level. Further up, resistance comes in at the 1.1250 level where a violation will expose the 1.1300 level. All in all, EURUSD expects more recovery in the new week.

 

[FXTechstrategy]

EURJPY Remains Vulnerable With Eyes On Further Weakness

EURJPY remains vulnerable with eyes on further weakness. On the downside, support comes in at the 117.50 level where a break if it occurs aiming at the 117.00 level. A break through here will turn focus to the 116.50 level and possibly lower towards the 116.00 level. Its daily RSI bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 118.50 level. Further out, we envisage a possible move towards the 119.00 level. Further out, resistance resides at the 119.50 level with a turn above here aiming at the 120.00 level. On the whole, EURJPY retains its downside pressure in the medium term.


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[FXTechstrategy]

USDCHF Bounces Off Lower Prices On Correction.

USDCHF bounces off lower prices on correction the past week. This has opened the door for more gain in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9750 level with a turn below here opening the door for more decline towards the 0.9700 level. And then the 0.9650 level. Further down, support resides at the 0.9600 level. All in all, USDCHF remains biased to the upside on further corrective strength.


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