Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

GBPJPY Looks To Strengthen Further On Recovery

GBPJPY looks to strengthen further on recovery following Its Tuesday price rejection. On the downside, support comes in at the 128.50 level where a violation will aim at the 128.00 level. A break below here will target the 127.00 level followed by the 127.00 level. Conversely, resistance is seen at the 129.50 level followed by the 130.00 level. A cut through that level will set the stage for a move further higher towards the 130.50 level. Further out, resistance resides at the 131.00 level. All in all, GBPJPY remains biased to the upside on further recovery.

 

[FXTechstrategy]

EURUSD Declines With Eyes On 1.1026/00 Support Zone

EURUSD declines with eyes on 1.1026/10 support zone as looks to resume its broader downside pressure. Support comes in at the 1.1000 where a violation will turn risk to the 1.0950 level. A break below here will target the 1.0900 level. Further down, support sits at the 1.0850. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1100 level with a violation of there opening the door for further gain towards the 1.1150 level. Further up, resistance lies at the 1.1200 level. A cut through that level will clear the way for a move towards the 1.1250 level. All in all, EURUSD expects looks to weaken further towards the 1.1026/10 support zone.

 

[FXTechstrategy]

GBPUSD Bullish Strength Leaves Risk Towards 1.2381 Level

GBPUSD bullish strength leaves risk towards 1.2381 level following its rally on Thursday. Support lies at 1.2200 with a turn below that level turning attention to the 1.2150 level. Further down, support resides at the 1.2100 level where a break will turn attention to the 1.2050 level. Further down, support lies at the 1.2000 level. On the upside, resistance stands at the 1.2300 with a turn above here allowing for additional strength to build up towards the 1.2350 level. Further out, resistance stands at the 1.2400 level followed by the 1.2450 level. On the whole, GBPUSD retains its corrective upside pressure

 

[FXTechstrategy]

USDCHF Weakens On Strong Sell-off

USDCHF weakens on strong sell-off following its intra day price rejection on Friday. Resistance comes in at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance stands at the 1.0000 level. On the downside, support is located 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 comes in 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 weakness.

 

[FXTechstrategy]

GOLD Further Bull Pressure Is Envisaged

GOLD further bull pressure is envisaged as we look for price extension. On the downside, support comes in at the 1,520.00 level where a break will turn attention to the 1,510.00 level. Further down, a cut through here will open the door for a move lower towards the 1,500.00 level. Below here if seen could trigger further downside pressure targeting the 1,490.00 level. Conversely, resistance resides at the 1,530.00 level. Further out, resistance resides at the 1,540.00 level where a break will aim at the 1,550.00 level. A turn above there will expose the 1,560.00 level. Further out, resistance stands at the 1,570.00 level. All in all, GOLD looks to strengthen further in the new week.

 

[FXTechstrategy]

EURUSD Risk Turns Lower Towards 1.1051/26 Support Zone

EURUSD risk turns lower towards 1.1051/25 support zone as it retains downside pressure. 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. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1150 level with a violation of there opening the door for further gain towards the 1.1200 level. Further up, resistance lies at the 1.1250 level. A cut through that level will clear the way for a move towards the 1.1300 level. All in all, EURUSD expects more weakness in the days ahead.

 

[FXTechstrategy]

GOLD Trades Below Key Support On Correction.

GOLD trades below key support on correction as it remains vulnerable. On the downside, support comes in at the 1,520.00 level where a break will turn attention to the 1,510.00 level. Further down, a cut through here will open the door for a move lower towards the 1,500.00 level. Below here if seen could trigger further downside pressure targeting the 1,490.00 level. Conversely, resistance resides at the 1,540.00 level. Further out, resistance resides at the 1,550.00 level where a break will aim at the 1,560.00 level. A turn above there will expose the 1,570.00 level. Further out, resistance stands at the 1,580.00 level. All in all, GOLD looks to weaken further on corrective pullbacks.

 

[FXTechstrategy]

USDCHF Bull Pressure Eyes The 0.9974 Resistance Zone

USDCHF bull pressure eyes the 0.9974 resistance zone in the new week. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9850 level with a turn below here opening the door for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support comes in at the 0.9700 level. All in all, USDCHF remains biased to the upside on further bull pressure.

 

[FXTechstrategy]

GOLD Faces Pullback Threats On Price Rejection

GOLD faces pullback threats on price rejection as we enter a new week. On the downside, support comes in at the 1,510.00 level where a break will turn attention to the 1,500.00 level. Further down, a cut through here will open the door for a move lower towards the 1,490.00 level. Below here if seen could trigger further downside pressure targeting the 1,480.00 level. Conversely, resistance resides at the 1,530.00 level. Further out, resistance resides at the 1,540.00 level where a break will aim at the 1,550.00 level. A turn above there will expose the 1,560.00 level. Further out, resistance stands at the 1,570.00 level. All in all, GOLD looks to weaken further on corrective pullbacks

 

[FXTechstrategy]

GBPUSD Declines On Bear Pressure With Eyes On 1.2014 Zone

GBPUSD declines on bear pressure with eyes on 1.2014 zone in the days ahead. Support lies at 1.2014/00 area with a break below that level turning attention to the 1.1950 level. Further down, support lies at the 1.1900 level where a violation will shift focus to the 1.1850 level. Below here will open the door towards the 1.1800 level. On the upside, resistance is located at the 1.2100 with a break above there allowing for morel strength to build up towards the 1.2150 level. Further out, resistance stands at the 1.2200 level followed by the 1.2250 level. On the whole, GBPUSD retains its downside pressure with eyes on 1.2014/00 area.

 

[FXTechstrategy]

EURUSD Rallies Strongly With Eyes On 1.1051 Area

EURUSD rallies strongly with eyes on 1.1051 area as it looks for more recovery. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. Conversely, on the upside, resistance comes in at 1.1100 level with a violation of there opening the door for further gain towards the 1.1150 level. Further up, resistance lies at the 1.1200 level. A cut through that level will clear the way for a move towards the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD expects more recovery in the days ahead.

 

[FXTechstrategy]

GOLD Sets Up To Trigger Long Term Uptrend

GOLD sets up to trigger long term uptrend as it closing further higher on Wednesday. On the downside, support sits at the 1,540.00 level where a break will turn focus to the 1,530.00 level. Further down, a cut through here will open the door for a move decline towards the 1,520.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,510.00 level. Conversely, resistance resides at the 1,560.00 level. Further out, resistance resides at the 1,570.00 level where a break will aim at the 1,580.00 level. A turn above there will expose the 1,590.00 level. Further out, resistance stands at the 1,600.00 level. All in all, GOLD looks to strengthen further on bull pressure.

 

[FXTechstrategy]

USDCHF Looks To Extend Its Short Term Recovery Pressure

USDCHF looks to extend its short term recovery pressure. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9850 level with a turn below here opening the door for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support comes in at the 0.9700 level. All in all, USDCHF remains biased to the upside on price extension

 

[FXTechstrategy]

EURUSD Continues To Retain Its Broader Downside Pressure

EURUSD continues to retain its broader downside pressure as it holds on ti its broader medium term weakness. Support comes in at the 1.1000 where a break will turn risk to the 1.0950 level. A breach below here will target the 1.0900 level. Further down, support stands at the 1.0850. Conversely, on the upside, resistance comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more weakness in the days ahead

 

[FXTechstrategy]

GBPUSD Resumes Its Corrective Recovery Strength

GBPUSD resumes its corrective recovery strength with eyes on the 1.2459 level. Support lies at 1.2300 area with a break below that level turning attention to the 1.2250 level. Further down, support lies at the 1.2200 level where a violation will shift focus to the 1.2150 level. Below here will open the door towards the 1.2100 level. On the upside, resistance is located at the 1.2400 with a break above there allowing for morel strength to build up towards the 1.2459 level. Further out, resistance stands at the 1.2517 level followed by the 1.2558 level. On the whole, GBPUSD retains its upside pressure on further corrective recovery.

 

[FXTechstrategy]

EURUSD Declines Strongly On Price Sell-off

EURUSD declines strongly on price sell off with more weakness expected in the days ahead. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. Conversely, on the upside, resistance comes in at 1.1050 level wit h a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more weakness in the days ahead.

 

[FXTechstrategy]

EURJPY Rallies On Further Upside Pressure With Eyes On 120.20 Level

EURJPY rallies on further upside pressure with eyes on 120.20 level. On the downside, support resides at the 119.00 level where a break will aim at the 118.50 level. A turn below here will turn focus to the 117.50 level and possibly lower towards the 117.00 level. On the upside, resistance resides at the 120.00 level. Further out, we envisage a possible move towards the 120.50 level. Further out, resistance resides at the 121.00 level with a turn above here aiming at the 121.50. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the whole, EURJPY retains its corrective upside pressure as it looks for more gain.

 

[FXTechstrategy]

EURUSD Closes Higher On Price Recovery Towards 1.1163

EURUSD faces further upside pressure following its past week higher close. Support comes in at the 1.1000 where a break will turn risk to the 1.0950 level. A breach below here will target the 1.0900 level. Further down, support stands at the 1.0850. Conversely, on the upside, resistance comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more weakness in the days ahead

 

[SymphonyTrading]

View attachment 14415 My support and resistance levels are a little more of a macro view. Plenty of resistance at around 1.1220 and support around 1.090. With bearish trend line also in play. Until I see trading above resistance, which includes averages and trendline, I also see more weakness ahead.

 

[FXTechstrategy]

GBPJPY Looks To Resume Short Term Uptrend

GBPJPY looks to resume short term uptrend as it eyes further upside strength. On the downside, support comes in at the 135.00 level where a violation will aim at the 134.50 level. A break below here will target the 134.00 level followed by the 133.50 level. Conversely, resistance is seen at the 136.00 level followed by the 136.50 level. A cut through that level will set the stage for a move further higher towards the 137.00 level. Further out, resistance resides at the 137.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY remains biased to the upside on further recovery.