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Daily Technical Strategy On Currencies & Commodities

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  • #61
    EURUSD: Looks To Recover Further Higher

    EURUSD: With the pair seeing higher price close the past week, more strength is envisaged in the new week. 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 1.2200 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. All in all, EURUSD faces further bull threats on correction.

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    • #62
      GOLD: Takes Back Gain, Sets Up To Weaken Further

      GOLD: The commodity closed lower after backing off higher prices on Wednesday. On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,320.00 level. Further down, a cut through here will open the door for a move lower towards the 1,310.00 level. Below here if seen could trigger further downside pressure targeting the 1,300.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, GOLD looks to weaken further.

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      • #63
        GBPUSD: Sees Price Follow Through Higher

        GBPUSD: The pair continues to retain its upside pressure on recovery extending its Friday gain. Support lies at the 1.3850 level where a break will turn attention to the 1.3800 level. Further down, support lies at the 1.3750 level. Below here will set the stage for more weakness towards the 1.3700 level. Conversely, resistance stands at the 1.3950 levels with a turn above here allowing more strength to build up towards the 1.4000 level. Further out, resistance resides at the 1.4050 level followed by the 1.4100 level. On the whole, GBPUSD looks to follow through higher.

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        • #64
          USDJPY: Weakens, Threatens Price Extension

          USDJPY: The pair looks to weaken further as more decline is expected in the days ahead. On the downside, support lies at the 105.50 level where a break if seen will aim at the 105.00 level. A cut through here will turn focus to the 104.50 level and possibly lower towards the 104.00 level. On the upside, resistance resides at the 106.50 level. Further out, we envisage a possible move towards the 107.00 level. Further out, resistance resides at the 107.50 level with a turn above here aiming at the 108.00 level. On the whole, USDJPY faces further downside pressure

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          • #65
            EURUSD: Faces Further Weakness

            EURUSD: The pair looks to follow through higher on the back of past week gain. On the upside, resistance comes in at 1.2400 level with a cut through here opening the door for more upside towards the 1.2450 level. Further up, resistance lies at the 1.2500 level where a break will expose the 1.2550 level. Conversely, support lies at the 1.2300 level where a violation will aim at the 1.2250 level. A break of here will aim at the 1.2200 level. Below here will open the door for more weakness towards the 1.2150. All in all, EURUSD faces further recovery threats.

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            • #66
              CRUDE OIL: Recovers, Rejects Lower Prices

              CRUDE OIL: The commodity turned higher off its intra day low on Thursday leaving risk of more strength on the cards. On the downside, support resides at the 64.50 level where a break will expose the 64.00 level. A cut through here will set the stage for a run at the 63.50 level. Further down, support resides at the 63.00 level. On the upside, resistance resides at the 65.50 level. Further out, resistance comes in at the 66.00 level. A break above here will aim at the 66.50 level and then the 67.00 level followed by the 67.50 level. All in all, CRUDE OIL remains biased to the downside on pullback but with caution.

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              • #67
                EURUSD: Continues To Retain Downside Pressure

                EURUSD: The pair continues to hold on to its downside as it looks to extend its correction. 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 downside threats.

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                • #68
                  EURUSD: Continues To Face Downside Pressure

                  EURUSD: The pair faces recovery 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. All in all, EURUSD faces further downside threats.

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                  • #69
                    GBPUSD: Weakens On Further Bear Pressure

                    GBPUSD: The pair saw further weakness following its past week losses. Support lies at the 1.3950 level where a break will turn attention to the 1.3900 level. Further down, support lies at the 1.3850 level. Below here will set the stage for more weakness towards the 1.3800 level. Conversely, resistance stands at the 1.4000 levels with a turn above here allowing more strength to build up towards the 1.4050 level. Further out, resistance resides at the 1.4100 level followed by the 1.4150 level. On the whole, GBPUSD remains biased to downside on further weakness.

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                    • #70
                      EURUSD: Weakens Further, Eyes The 1.1750 Zone

                      EURUSD: The pair faces further bear pressure as it continues to hold on to its bear pressure. On the upside, resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 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 pressure.

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                      • #71
                        EURUSD: Weakens Further, Eyes The 1.1700 Zone

                        EURUSD: The pair faces further bear pressure as it continues to hold on to its bear pressure after closing lower on Friday. 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 pressure.

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                        • #72
                          USDCHF: Remains Vulnerable To The Downside On Corrective Pullback

                          USDCHF: The pair looks to weaken further in the new week on corrective pullback threats. 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 1.0200. All in all, USDCHF faces further corrective downside pressure

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                          • #73
                            i'm waiting for today market analysis.

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                            • #74
                              USDJPY: Loses Downside Momentum, Recovers

                              USDJPY: The pair saw price recovery on Wednesday on Tuesday as it looks to weaken further. On the downside, support lies at the 108.50 level where a break if seen will aim at the 108.00 level. A cut through here will turn focus to the 107.50 level and possibly lower towards the 107.00 level. On the upside, resistance resides at the 109.50 level. Further out, we envisage a possible move towards the 110.00 level. Further out, resistance resides at the 110.50 level with a turn above here aiming at the 111.00 level. On the whole, USDJPY faces further downside pressure.

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                              • #75
                                EURUSD: Risk Remains Higher On Correction

                                EURUSD: The pair faces recovery higher leaving risk higher. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further upside pressure

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