Technical Outlook, Strategies & Commentaries On The Major Currencies

[FXTechstrategy Team]

Daily Technical Strategist On USDCHF

USDCHF: Faces Corrective Pullback Pressure

USDCHF: Although USDCHF continues to hold on to its broader upside medium term, it is now seen hesitating. If corrective weakness is triggered we could see more decline in the days ahead. On the upside, resistance resides at the 0.9400 level where a break will aim at the 0.9450 level. Further out, resistance resides at the 0.9500 level. A breather may occur here and turn the pair lower. On the downside, support lies at the 0.9300 level with a break targeting the 0.9250 level and then the 0.9200 level. Further down, support comes in at the 0.9150 level. A cut through here will target the 0.9100 level. All in all, the pair remains biased to the upside medium term but faces a corrective risk

 

[FXTechstrategy Team]

Special Focus on AUDUSD

AUDUSD: Declines Further, Eyes The 0.9050 Level

AUDUSD: With AUDUSD continuing to maintain its weakness and extending it today, further bearishness cannot be ruled out. Support lies at the 0.9100 level with cut through here turning attention to the 0.9050 level and then the 0.9000 level where a violation will set the stage for a retarget of the 0.8950 level. On the upside, resistance resides at the 0.9300 level where a break will aim at the 0.9373 level. A breach will aim at the 0.9415 level. Above that level will set the stage for a run at the 0.9476 level with a cut through here resuming its broader uptrend towards the 0.9550 level. All in all, the pair faces further pullback risk.

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPUSD

GBPUSD: Price hesitation Sets In

GBPUSD: GBP may have put a hold on to its recovery higher as price hesitation has set in. Support lies at the 1.6050 level where a break will aim at the 1.6000 levels. A break of here will turn attention to the 1.5950 level. Further down, support lies at the 1.5900 level. Conversely, resistance resides at the 1.6250 level with a break aiming at the 1.6300 level where a violation will aim at the 1.6350 level and possibly higher towards the 1.6400 level. On the whole, GBP continues to retain its downside bias short term

 

[FXTechstrategy Team]

Daily Technical Strategist On AUDUSD

AUDUSD: Halts Weakness, Looks To Recover Higher.

AUDUSD: With the pair halting its past week sell off during Thursday trading today, we envisaging a corrective recovery higher in the days ahead. Support lies at the 0.8983 level. A cut through here will turn attention to the 0.8950 level and then the 0.8900 level where a violation will set the stage for a retarget of the 0.8850 level. On the upside, resistance resides at the 0.9108 level where a breach will aim at the 0.9150 level. Above that level will set the stage for a run at the 0.9200 level with a cut through here resuming its broader uptrend towards the 0.9250 level. All in all, the pair faces further downside risk.

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPJPY

GBPJPY: Declines On Corrective Weakness

GBPJPY – With GBPJPY seen weakening on corrective pullback, more downside is envisaged. On the downside, support comes in at the 173.00 level where a violation will aim at the 172.50 level. A break below here will target the 172.00 level followed by the 171.50 level. Further down, support lies at the 171.00 level. Resistance lies at the 174.50 level followed by the 175.00 level where a break will aim at the 175.50 level. A cut through here will aim at the 176.00 level. All in all, the cross remains biased to the upside medium term but faces corrective pullback

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPUSD

GBPUSD: Maintains Recovery Bias

GBPUSD: With GBP following through on the back of its recovery during early trading today, it faces risk of continuation of that strength. Resistance resides at the 1.6350 level with a break aiming at the 1.6400 level. A violation will aim at the 1.6450 level and possibly higher towards the 1.6500 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6250 level where a break will aim at the 1.6200 levels. A break of here will turn attention to the 1.6150 level. Further down, support lies at the 1.6100 level. On the whole, GBP continues to retain its upside bias short term on correction

 

[FXTechstrategy Team]

Daily Technical Strategist On EURUSD

EURUSD: Recovery Threats Envisaged.

EURUSD: With EUR turning higher on Tuesday to halt its weakness, it could be building up energy to recover higher. Support lies at the 1.2800 level where a break will expose the 1.2750 level. Below here will pave the way for a move lower towards the 1.2700 level. If this continues, expect further downside to occur towards the 1.2650 level. On the upside, resistance lies at the 1.2900 level where a break will aim at the 1.2950 level, its psycho level followed by the 1.3000 level. Further out, resistance comes in at the 1.3050 level. All in all, EUR remains biased to the downside in the medium term

 

[FXTechstrategy Team]

Daily Technical Strategist On EURUSD

GOLD: Triggers Recovery, Eyes Further Upside.

GOLD: With GOLD triggering a correction higher during Thursday trading, further bullishness is envisaged. Support stands at the 1,200.00 level. Below here could trigger further downside towards the 1,180.00 level where a break will aim at the 1,150.00 level. A break will target the 1,130.00 level with a violation turning attention to the 1,100.00 level. On the upside, resistance lies at the 1,250.00 level where a break will target the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.30 level. All in all, GOLD remains biased to the upside in the nearer term on correction.

 

[FXTechstrategy Team]

Daily Technical Strategist On USDCAD

USDCAD: Maintains Offensive Bias

USDCAD: With USDCAD continuing to retain its broader upside bias, further bullishness is now envisaged. In such a case, it will aim at 1.1097 level. On the upside, resistance is seen at the 1.1150 level followed by the 1.1200 level. Further out, resistance comes in at the 1.1250 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1150 level. On the downside, support lies at the 1.1050 level followed by the 1.1000 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.0950 level and then the 1.0900 level. All in all, USDCAD continues to face further upside risk.

 

[JimFXtrader]

GBPUSD: Support Zone in 1.6330-18

EURUSD:http://jimfxtrader.blogspot.com/2014/09/probabilidades-para-el-eurusd.html

 

[FXTechstrategy Team]

Daily Technical Strategist On AUDUSD

AUDUSD: Price hesitation Sets In.

AUDUSD: W Though seeing a price hesitation during Friday trading session today, it continues to maintain its broader medium term downside pressure. Support lies at the 0.8750 level. A cut through here will turn attention to the 0.8700 level and then the 0.8650 level where a violation will set the stage for a retarget of the 0.8600 level. On the upside, resistance resides at the 0.8850 level where a breach will aim at the 0.8900 level. Above that level will set the stage for a run at the 0.8950 level with a cut through here resuming its broader uptrend towards the 0.9000 level. All in all, the pair faces further downside risk on correction.

 

[FXTechstrategy Team]

The Week Ahead On USDCHF

USDCHF: Bullish, Threatens, Further Upside.

USDCHF: With USDCHF closing higher on a follow through higher on the back of its previous week gains, further upside is envisaged. On the upside, resistance resides at the 0.9550 level where a break will aim at the 0.9600 level. Further out, resistance resides at the 0.9650 level. A breather may occur here and turn the pair lower. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9450 level with a break targeting the 0.9400 level and then the 0.9350 level. Further down, support comes in at the 0.9300 level. A cut through here will target the 0.9250 level. All in all, the pair remains biased to the upside medium term.

 

[FXTechstrategy Team]

Weekly Technical Strategist On EURUSD

EURUSD: Continues To Face Downside Pressure

EURUSD: Outlook for EUR remains lower after extending its weakness below the 1.2700 level the past week. Support lies at the 1.2600 level where a break will expose the 1.2550 level. Below here will pave the way for a move lower towards the 1.2500 level. If this continues, expect further downside to occur towards the 1.2450 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 1.2750 level where a break will aim at the 1.2800 level, its psycho level followed by the 1.2850 level. Further out, resistance comes in at the 1.2900 level. All in all, EUR remains biased to the downside in the medium term.

 

[FXTechstrategy Team]

Daily Technical Strategist On GBPJPY

GBPJPY: Faces Corrective Pullback Threats

GBPJPY – Although GBPJPY may be holding on to its medium term uptrend, it faces corrective pullback threats. While the 180.70 level continues to hold as resistance, corrective pullback cannot be ruled out. On the downside, support comes in at the 177.00 level where a violation will aim at the 176.50 level. A break below here will target the 176.00 level followed by the 175.50 level. Further down, support lies at the 175.00 level. Resistance lies at the 178.50 level followed by the 179.00 level where a break will aim at the 179.50 level. A cut through here will aim at the 180.00 level. All in all, the cross remains biased to the upside medium term

 

[FXTechstrategy Team]

Daily Technical Strategist On EURJPY

EURJPY: Weakens, Maintains Downside Bias

EURJPY- With EURJPY turning lower on a sell-off during Tuesday trading session, the risk is for more weakness to occur. Support comes in at the 137.50 level where a break will aim at the 137.00 level. A break will target the 136.61 level with a breach turning focus to the 136.00 level. Below here will aim at the 135.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 138.50 level where a break if seen will threaten further upside towards the 138.92. Further out, resistance resides at the 139.50 level where a break will aim at the 140.00. All in all, the cross continues to face correction weakness risk.

 

[FXTechstrategy Team]

EURJPY: Bearish, Vulnerable

EURJPY- While the cross continues to hold on to its downside pressure, further decline is possible. However, we think a correction higher cannot be ruled out. Support comes in at the 137.00 level where a break will aim at the 136.50 level. A break will target the 137.00 level with a breach turning focus to the 136.00 level. Below here will aim at the 135.50 level. On the upside, resistance resides at the 138.00 level where a break if seen will threaten further upside towards the 138.50. Further out, resistance resides at the 139.00 level where a break will aim at the 139.50. All in all, the cross faces correction weakness risk.

 

[FXTechstrategy Team]

Daily Technical Strategist On USDCAD

USDCAD: USDCAD: Corrective Pullback Not Yet Over.

USDCAD: With the pair weakening strongly on correction on Monday, it face further downside pressure. Despite price hesitation corrective bias remains. On the downside, support lies at the 1.1100 level followed by the 1.1050 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1000 level and then the 1.0950 level. On the upside, resistance is seen at the 1.1200 level followed by the 1.1250 level. Further out, resistance comes in at the 1.1300 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1350 level All in all, USDCAD continues to face further upside risk.

 

[FXTechstrategy Team]

Weekly Technical Strategist On EURUSD

EURUSD: Recovers Higher On Correction

EURUSD: Except EUR returns above the 1.2791 level, it faces a possible reversal of its corrective recovery triggered the past week. Support lies at the 1.2550 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2300 level. If this continues, expect further downside to occur towards the 1.2250 level. On the upside, resistance lies at the 1.2791 level where a break will aim at the 1.200 level, its psycho level followed by the 1.2650 level. Further out, resistance comes in at the 1.2700 level. All in all, EUR remains biased to the downside in the medium term.

 

[FXTechstrategy Team]

Commodity Technical Outlook On GOLD

GOLD: Faces Recovery Risk

GOLD: With GOLD triggering a recovery higher the past week, further bullishness is expected in the new week. However, its Thursday and Friday trading activities may suggest a halt in that recovery. On the upside, resistance lies at the 1,250.00 level where a break will target the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support stands at the 1,200.00 level. Below here could trigger further downside towards the 1,170.00 level where a break will aim at the 1,150.00 level. A break will target the 1,100.00 level. All in all, GOLD remains biased to the downside in the medium term though facing recovery threats.

 

[FXTechstrategy Team]

AUDUSD: Halts Weakness, Rallies

AUDUSD: With the pair on the verge of reversing its entire Friday losses, further strength is now envisaged. This is coming on the back of a rally off its intra day low at 0.8651. On the upside, resistance resides at the 0.8800 level where a breach will aim at the 0.8850 level. Above that level will set the stage for a run at the 0.8900 level with a cut through here resuming its broader uptrend towards the 0.8950 level. On the downside, support lies at the 0.8700 level. A cut through here will turn attention to the 0.8650 level and then the 0.8600 level where a violation will set the stage for a retarget of the 0.8550 level. All in all, the pair faces recovery threats.