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Daily Technical Strategy On Currencies & Commodities

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  • #46
    EURUSD:Vulnerable, Sets Up To Weaken Further

    EURUSD: The pair closed lower after reversing its earlier gains for the week. On the upside, resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD faces further downside weakness

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    • #47
      USDCHF: Vulnerable, Turns Lower On Correction

      USDCHF: The pair faces further downside pressure after it triggered a correction during early trading today. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0100. All in all, USDCHF faces further corrective pullback pressure.

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      • #48
        USDJPY: Bullish, Eyes Further Upside Pressure

        USDJPY: The pair closed higher on Tuesday following through higher on Wednesday. On the downside, support lies at the 113.00 level where a break if seen will aim at the 112.50 level. A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. On the upside, resistance resides at the 113.50 level. Further out, we envisage a possible move towards the 114.00 level. Further out, resistance resides at the 114.50 level with a turn above here aiming at the 115.00 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, USDJPY faces further upside threats.

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        • #49
          USDJPY: Bullish, Eyes Further Upside Pressure

          USDJPY: The pair closed higher on Tuesday following through higher on Wednesday. On the downside, support lies at the 113.00 level where a break if seen will aim at the 112.50 level. A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. On the upside, resistance resides at the 113.50 level. Further out, we envisage a possible move towards the 114.00 level. Further out, resistance resides at the 114.50 level with a turn above here aiming at the 115.00 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, USDJPY faces further upside threats.

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          • #50
            EURUSD: Looks To Build Up On Strength

            EURUSD: The pair now looks to build up on its past week gains though seeing price hesitation on Friday. On the upside, resistance comes in at 1.1900 level with a cut through here opening the door for more upside towards the 1.1950 level. Further up, resistance lies at the 1.2000 level where a break will expose the 1.2050 level. Conversely, support lies at the 1.1800 level where a violation will aim at the 1.1750 level. A break of here will aim at the 1.1700 level. Below here will open the door for more weakness towards the 1.1650. All in all, EURUSD faces further downside weakness

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            • #51
              EURUSD: Closes Higher, Eyes Further Upside Pressure

              EURUSD: The pair extended its upside pressure the past week opening the door for gain in the new week. On the upside, resistance comes in at 1.2050 level with a cut through here opening the door for more upside towards the 1.2100 level. Further up, resistance lies at the 1.2150 level where a break will expose the 1.2200 level. Its weekly RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1950 level where a violation will aim at the 1.1900 level. A break of here will aim at the 1.1850 level. Below here will open the door for more weakness towards the 1.1800. All in all, EURUSD faces further upside pressure

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              • #52
                GOLD: Rejects Lower Prices, Risk Remains Higher

                GOLD: The commodity still faces its broader upside pressure as it saw a rejection of lower prices on Thursday. 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 towards the 1,270.00 level. Conversely, 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 strengthen further.

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                • #53
                  GBPUSD: Bullish, Remains On Upside Offensive

                  GBPUSD: The pair faces further upside pressure as it was seen building up on its past gain during Monday trading session. Support lies at the 1.3750 level where a break will turn attention to the 1.3700 level. Further down, support lies at the 1.3650 level. Below here will set the stage for more weakness towards the 1.3600 level. Conversely, resistance stands at the 1.3800 levels with a turn above here allowing more strength to build up towards the 1.3850 level. Further out, resistance resides at the 1.3900 level followed by the 1.3950 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD looks to move further higher on bull pressure.

                  Comment


                  • #54
                    EURUSD: Vulnerable, Loses Upside Momentum

                    EURUSD: The pair backed off higher prices to close on a rejection candle the past week. On the upside, resistance comes in at 1.2250 level with a cut through here opening the door for more upside towards the 1.2300 level. Further up, resistance lies at the 1.2350 level where a break will expose the 1.2400 level. Conversely, support lies at the 1.2200 level where a violation will aim at the 1.2150 level. A break of here will aim at the 1.2100 level. Below here will open the door for more weakness towards the 1.2050. Its daily RSI is bullish and pointing higher. All in all, EURUSD faces further upside move on bullish offensive

                    Comment


                    • #55
                      EURUSD: Caps Upside Pressure, Threatens Pullback

                      EURUSD: The pair may have closed higher the past week but faces corrective pullback in the new week. On the upside, resistance comes in at 1.2450 level with a cut through here opening the door for more upside towards the 1.2500 level. Further up, resistance lies at the 1.2550 level where a break will expose the 1.2600 level. Conversely, support lies at the 1.2400 level where a violation will aim at the 1.2350 level. A break of here will aim at the 1.2300 level. Below here will open the door for more weakness towards the 1.2250. All in all, EURUSD faces further upside move on bullish offensive but with caution.

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                      • #56
                        EURJPY: Declines On Bear Pressure

                        EURJPY: The pair now looks to weaken further after it saw a move lower during Monday trading session. On the downside, support comes in at the 134.00 level where a break if seen will aim at the 133.50 level. A cut through here will turn focus to the 133.00 level and possibly lower towards the 132.50 level. On the upside, resistance resides at the 135.00 level. Further out, we envisage a possible move towards the 135.50 level. Further out, resistance resides at the 136.00 level with a turn above here aiming at the 136.50 level. On the whole, EURJPY faces further weakness threats.

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                        • #57
                          EURUSD: Vulnerable On Correction Though With Caution

                          EURUSD: The pair closed lower the past week leaving risk of more weakness on the cards. We faces price hesitation with a move higher in the new week. On the upside, resistance comes in at 1.2300 level with a cut through here opening the door for more upside towards the 1.2350 level. Further up, resistance lies at the 1.2400 level where a break will expose the 1.2450 level. Conversely, support lies at the 1.2200 level where a violation will aim at the 1.2150 level. A break of here will aim at the 1.2100 level. Below here will open the door for more weakness towards the 1.2050. Its weekly RSI is bearish and pointing lower suggesting more weakness. All in all, EURUSD faces further pullback threats.



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                          • #58
                            EURJPY: Looks To Recovery Higher On Price Halt

                            EURJPY: The pair closed higher on price halt on Friday opening the door for more strength. On the downside, support comes in at the 133.00 level where a break if seen will aim at the 132.50 level. A cut through here will turn focus to the 132.00 level and possibly lower towards the 131.50 level. On the upside, resistance resides at the 133.50 level. Further out, we envisage a possible move towards the 134.00 level. Further out, resistance resides at the 134.50 level with a turn above here aiming at the 135.00 level. On the whole, EURJPY faces further bear threats

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                            • #59
                              EURUSD: Consolidates But With Recovery Risk

                              EURUSD: With the pair seeing price hesitation the past week, a directional move is a challenge. On the upside, resistance comes in at 1.2350 level with a cut through here opening the door for more upside towards the 1.2400 level. Further up, resistance lies at the 1.2450 level where a break will expose the 1.2500 level. Conversely, support lies at the 1.2250 level where a violation will aim at the 1.2200 level. A break of here will aim at the 1.2150 level. Below here will open the door for more weakness towards the 1.2100. All in all, EURUSD faces further bear threats on correction.

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                              • #60
                                GBPUSD: Strengthens, Remains On The Offensive

                                GBPUSD: The pair followed through higher on the back of its Friday gain on Monday. Support lies at the 1.4000 level where a break will turn attention to the 1.3950 level. Further down, support lies at the 1.3900 level. Below here will set the stage for more weakness towards the 1.3850 level. Conversely, resistance stands at the 1.4100 levels with a turn above here allowing more strength to build up towards the 1.4150 level. Further out, resistance resides at the 1.4200 level followed by the 1.4250 level. On the whole, GBPUSD looks to correct further higher.

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