Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

EURGBP Eyeing Medium Term Uptrend Resumption

EURGBP looks to strengthen further and resume its medium term uptrend. On the downside, support lies at the 0.8700 level where a violation will turn focus to the 0.8650 level. A break below here will aim at the 0.8600 level. Further down, support comes in at 0.8550 level. Conversely, resistance lies at the 0.8800 level. A violation if seen will turn risk towards the 0.8850 level. Further up, resistance comes in at 0.8900 level followed by the 0.8950 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURGBP remains biased to the upside on further bull pressure.


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[FXTechstrategy]

USDCHF Vulnerable, Looks To Weaken Further

USDCHF faces risk of further bear pressure in the new week. Resistance comes in at the 0.9550 level. Above here, resistance lies at the 0.9600 level and then the 0.9650 level. Further out, resistance stands at the 0.9650 level. On the downside, support is located at the 0.9450 level with a turn below here opening the door for more decline towards the 0.9400 level. And then the 0.9350 level. Further down, support comes in at the 0.9300 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further pullbacks.

 

[FXTechstrategy]

EURJPY Vulnerable Towards The 116.11 Level


EURJPY continues to face downside pressure as it looks to weaken further towards its key support at 116.11 level. On the downside, support comes in at the 116.50 level where a break if seen will aim at the 116.00 level. A cut through here will turn focus to the 115.50 level and possibly lower towards the 115.00 level. On the upside, resistance resides at the 117.50 level. Further out, we envisage a possible move towards the 118.00 level. Further out, resistance resides at the 118.50 level with a turn above here aiming at the 119.00 level. On the whole, EURJPY continues to retain its downside pressure.e way for a move towards the 1.0750 level. All in all, EURUSD looks for more upside pressure on correction.

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[FXTechstrategy]

EURUSD Turns Higher Ahead Of Key Resistance

EURUSD faces risk of further move higher after backing off lower prices on Friday. Resistance comes in at the 1.0850 where a break will turn risk towards the 1.0900 level. A breach of here will target the 1.0950 level. Further up, resistance stands at the 1.1000. Conversely, on the downside, support comes in at 1.0750 level with a violation opening the door for further gain towards the 1.0700 level. Further down, resistance lies at the 1.0650 level. A cut through that level will clear the way for a move towards the 1.0600 level. All in all, EURUSD looks for more upside on recovery

 

[FXTechstrategy]

GBPUSD Looks To Weaken Further Lower

GBPUSD looks to correct further lower as it holds on to its downside pressure. Support stands at 1.2300 area with a break turning focus to the 1.2250 level. Further down, support lies at the 1.2200 level where a violation will turn 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 1.2450 level. Further out, resistance stands at the 1.2500 level followed by the 1.2550 level. On the whole, GBPUSD faces further downside threats.

 

[FXTechstrategy]

USDCAD Sets Up To Strengthen Further

USDCAD faces risk of further upside as it looks to follow through higher on the back of 2 days gain.. Support comes in at the 1.4050 level where a break will aim at the 1.4000 level. Further down, support comes in at the 1.3950 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3900 level. On the upside, resistance stands at the 1.4150 level where a break will target the 1.4200 level. Further up, resistance resides at the 1.4250 level and then the 1.4300 level. All in all, USDCAD looks to strengthen further in the days ahead.


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[FXTechstrategy]

EURUSD Rallies Sharply, Eyes More Strength

EURUSD faces risk of further move higher following its sharp rally on Monday. Resistance stands at the 1.0950 where a break will turn risk towards the 1.1000 level. A breach of here will target the 1.1050 level. Further up, resistance stands at the 1.1100. Conversely, on the downside, support comes in at 1.0850 level with a violation opening the door for further gain towards the 1.0800 level. Further down, resistance lies at the 1.0750 level. A cut through that level will clear the way for a move towards the 1.0700 level. All in all, EURUSD looks for further bull threats

 

[FXTechstrategy]

EURGBP Bull Pressure Exposes 0.9175 Level

EURGBP looks to extend further upside pressure with eyes on key resistance at 0.9175 resistance zone. On the downside, support stands at the 0.9100 level where a violation will turn focus to the 0.9050 level. A break below here will aim at the 0.9000 level. Further down, support comes in at 0.8950 level. Conversely, resistance lies at the 0.9150 level. A violation if seen will turn risk towards the 0.9200 level. Further up, resistance comes in at 0.9250 level followed by the 0.9300 level. All in all, EURGBP remains biased to the upside towards its key resistance at 0.9175 area.

 

[FXTechstrategy]

EURUSD Risk Continues To Build Up Towards The 1.1496 Level

EURUSD faces risk of further upside pressure as it looks to recapture its key resistance at 1.1496 level. Resistance comes in at the 1.1550 with a break turning risk towards the 1.1600 level. A cut through here will target the 1.1650 level. Further up, resistance stands at the 1.1700. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, on the downside, support comes in at 1.1450 level with a violation opening the door for further gain towards the 1.1400 level. Further down, resistance lies at the 1.1350 level. A cut through that level will clear the way for a move towards the 1.1300 level. All in all, EURUSD looks for more upside recovery.

 

[FXTechstrategy]

EURUSD Breaks And Trades Above 1.1496 Resistance Zone

EURUSD looks to extend its past week gains in the new week after breaking above its key resistance at 1.1496 area. Resistance comes in at the 1.1700 with a break turning risk towards the 1.1750 level. A cut through here will target the 1.1800 level. Further up, resistance stands at the 1.1850. Its weekly RSI is bullish and pointing higher suggesting more strength. Conversely, on the downside, support comes in at 1.1600 level with a violation opening the door for further gain towards the 1.1550 level. Further down, resistance lies at the 1.1500 level. A cut through that level will clear the way for a move towards the 1.1450 level. All in all, EURUSD looks for more upside gain.

 

[FXTechstrategy]

GBPJPY Sets Up To Strengthen Further

GBPJPY looks to decline further as it retains its downside pressure into the new week. On the upside, support comes in at the 136.00 level where a violation will aim at the 136.50 level. A break below here will target the 137.00 level followed by the 137.50 level. Conversely, support is seen at the 135.50 level followed by the 135.00 level. A cut through this level will set the stage for a move further lower towards the 134.50 level. Further down, support resides at the 134.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. All in all, GBPJPY remains biased to the downside in the short term.

 

[FXTechstrategy]

EURUSD Looks To Weaken On Price Rejection

EURUSD faces risk of a move lower after rejecting higher prices on Thursday and Friday the past week. Resistance now comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.1950. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more downside pressure on correction.

 

[FXTechstrategy]

CRUDE OIL Broader Upside Bias Remains Valid

CRUDE OIL looks to strengthen further as it looks to resume its broader uptrend. Support lies at the 40.50 level where a break will turn attention to the 40.00 level. A push through here will set the stage for a run at the 39.50 level. Further down, support comes in at the 39.00. Its daily RSI is bullish and pointing higher suggesting more gain. On the upside, resistance resides at the 41.50 levels. Further out, resistance comes in at the 42.00 level. A break above here will aim at the 42.50 level and then the 43.50 level followed by the 44.00 level. All in all, CRUDE OIL remains biased to the upside medium term.

 

[FXTechstrategy]

USDCHF Rallies, Eyes Further Upside Pressure

USDCHF continues to face recovery risk as it saw a rally on Monday. On the downside, support comes in at the 0.9100 level. Below here leaves support at the 0.9050 level and then the 0.9000 level. Further down, support comes in at the 0.8950 level. On the upside, resistance is located at the 0.9200 level with a turn above here opening the door for a move towards the 0.9250 level. And then the 0.9300 level. Further down, support comes in at the 0.9350 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCHF remains biased to the upside on further corrective recovery.


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[FXTechstrategy]

EURJPY Halts Weakness, Faces Recovery Risk

EURJPY faces risk of further move higher halting its weakness on Thursday. On the downside, support comes in at the 122.50 level where a break will turn focus towards the 122.00 level. A cut through here will see a move towards the 121.50 level and possibly lower towards the 121.00 level. On the upside, resistance resides at the 123.50 level. Further out, we envisage a possible move towards the 124.00 level. Further out, resistance resides at the 124.50 level with a turn above here aiming at the 125.00 level. On the whole, EURJPY continues to face downside pressure short term but with risk of correction higher.

 

[FXTechstrategy]

EURUSD Extends Weakness In The Short Term

EURUSD faces risk of further move lower as we look for more decline in the new week. Resistance comes in at the 1.1650 with a break of that area turning risk towards the 1.1700 level. A move above here will target the 1.1750 level. Further up, resistance stands at the 1.1800. On the down, support comes in at 1.1600 level with a violation opening the door for a run at the 1.1550 level. Further down, support is seen at the 1.1500 level. A cut through that level will clear the way for a move towards the 1.1450 level. All in all, EURUSD looks for more downside pressure.

 

[FXTechstrategy]

EURUSD Biased To The Upside On Recovery Medium Term

EURUSD continues to face risk of further upside pressure as we enter a new week. Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level. Further up, resistance stands at the 1.1800. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level. All in all, EURUSD looks for more upside pressure.

 

[FXTechstrategy]

EURUSD Bullish, Risk Points Higher

EURUSD faces further upside pressure as we look for more gain. Resistance comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1700 level. Further down, support is seen at the 1.1650 level. A cut through that level will clear the way for a move towards the 1.1600 level. All in all, EURUSD looks for more upside pressure in the new week.


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[FXTechstrategy]

EURUSD Risk Continues To Point Lower Short Term

EURUSD faces further downside pressure as it holds on its downside short term trend. Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level. Further up, resistance stands at the 1.1900. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level. All in all, EURUSD looks for more downside pressure in the new week.

 

[FXTechstrategy]

EURUSD Looks To Resume Upside Pressure

EURUSD faces further upside pressure as it looks to resume its uptrend in the new week. Resistance comes in at the 1.1900 with a break of that area turning risk towards the 1.1950 level. A move above here will target the 1.2000 level. Further up, resistance stands at the 1.2050. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more upside pressure in the days ahead.



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