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FXTechstrategyT

Daily Technical Strategy On Currencies & Commodities

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EURUSD: Backs Off Lower Prices, Eyes More Strength

EURUSD: The pair looks to extend its recovery triggered the past week in the new week. On the upside, resistance comes in at 1.1750 level with a cut through here opening the door for more upside towards the 1.1800 level. Further up, resistance lies at the 1.1850 level where a break will expose the 1.1900 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 upside pressure.

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USDJPY: Rejects Lower Prices, Looks To Recover Higher

USDJPY: The pair rejected lower prices to close flat on Monday leaving risk of a move higher on the cards. On the downside, support lies at the 111.00 level where a break if seen will aim at the 110.50 level. A cut through here will turn focus to the 110.00 level and possibly lower towards the 109.50 level. On the upside, resistance resides at the 112.00 level. Further out, we envisage a possible move towards the 112.50 level. Further out, resistance resides at the 113.00 level with a turn above here aiming at the 113.50 level. On the whole, USDJPY faces further downside pressure.
 

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GBPUSD: Bullish, Eyes Further Corrective Upside

GBPUSD: The pair continues to retain its upside pressure leaving risk of more strength on the cards in the days ahead. Support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD remains biased to upside on correction.

GBPUSDDaily-3.png

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EURUSD: Eyes Further Upside Pressure

EURUSD: The pair looks to recovery higher on correction though facing consolidation threats. 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.
 

EURUSDWeekly-4.png

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EURJPY: Triggers Further Upside Pressure

EURJPY: The pair continues to retain its upside pressure rallying strongly on Tuesday and opening the door for more fain. Support comes in at the 130.50 level where a break if seen will aim at the 130.00 level. A cut through here will turn focus to the 129.50 level and possibly lower towards the 129.00 level. On the upside, resistance resides at the 131.00 level. Further out, we envisage a possible move towards the 131.50 level. Further out, resistance resides at the 132.00 level with a turn above here aiming at the 132.50 level. On the whole, EURJPY faces further upside threats.

EURJPYDaily-2.png

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GBPUSD: Bearish, Extends Weakness

GBPUSD: The pair continues to retain its downside pressure selling off further on Friday. Support lies at the 1.2750 level where a break will turn attention to the 1.2700 level. Further down, support lies at the 1.2650 level. Below here will set the stage for more weakness towards the 1.2600 level. Conversely, resistance stands at the 1.2850 levels with a turn above here allowing more strength to build up towards the 1.2900 level. Further out, resistance resides at the 1.2950 level followed by the 1.3000 level. On the whole, GBPUSD remains biased to the downside medium term.
 

GBPUSDDaily-1.png

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EURUSD: Bearish, Targets Further Downside

EURUSD: The pair looks to weaken further in the new week following its past week losses. On the upside, resistance comes in at 1.1550 level with a cut through here opening the door for more upside towards the 1.1600 level. Further up, resistance lies at the 1.1650 level where a break will expose the 1.1700 level. Conversely, support lies at the 1.1550 level where a violation will aim at the 1.1500 level. A break of here will aim at the 1.1450 level. Below here will open the door for more weakness towards the 1.1400. All in all, EURUSD faces further downside pressure

EURUSDWeekly-1.png

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USDJPY: Sees Further Recovery Higher

USDJPY: The pair looks to extend further recovery higher as more strength is likely. On the downside, support lies at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level. On the upside, resistance resides at the 111.50 level. Further out, we envisage a possible move towards the 112.00 level. Further out, resistance resides at the 112.50 level with a turn above here aiming at the 113.00 level. On the whole, USDJPY faces further recovery pressure.
 

USDJPYDaily-1.png

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AUDUSD: Remains Bullish On Correction

AUDUSD. The pair looks to strengthen further after closing higher on Thursday. Support resides at the 0.7200 level where a breach will aim at the 0.7150 level. Below that level will set the stage for a run at the 0.7100 level with a cut through here targeting further downside pressure towards the 0.7050 level. On the upside, resistance lies at the 0.7250 level. A cut through here will turn attention to the 0.7300 level and then the 0.7350 level where a violation will set the stage for a retarget of the 0.7400 level. On the whole, AUDUSD faces further upside threats.
 

AUDUSDDaily.png

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EURUSD: Halts Weakness, Eyes Further Recovery Higher

EURUSD: The pair looks to correct further higher in the new week as it faces further recovery threats. On the upside, resistance comes in at 1.1450 level with a cut through here opening the door for more upside towards the 1.1500 level. Further up, resistance lies at the 1.1550 level where a break will expose the 1.1600 level. Conversely, support lies at the 1.1400 level where a violation will aim at the 1.1350 level. A break of here will aim at the 1.1300 level. Below here will open the door for more weakness towards the 1.1250. All in all, EURUSD faces further downside pressure
 

EURUSDWeekly-2.png

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EURUSD: Bullish, Sees Further Upside Pressure

EURUSD: The pair followed through higher on a rally on Tuesday opening the door for more strength in the days ahead. On the upside, resistance comes in at 1.1600 level with a cut through here opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1500 level where a violation will aim at the 1.1450 level. A break of here will aim at the 1.1400 level. Below here will open the door for more weakness towards the 1.1350. All in all, EURUSD faces further downside pressure.
 

EURUSDDaily-1.png

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USDJPY: Bullish, Eyes Further Upside Pressure

USDJPY: The pair extended its upside pressure on Wednesday and was seen following through higher during Thursday trading session. On the downside, support lies at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level. On the upside, resistance resides at the 111.50 level. Further out, we envisage a possible move towards the 112.00 level. Further out, resistance resides at the 112.50 level with a turn above here aiming at the 113.00 level. On the whole, USDJPY faces further upside pressure.

USDJPYDaily-3.png

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EURJPY: Bullish, Extends Recovery Higher

EURJPY: The pair looks to recover further higher following a hold on its recent gains during Friday trading today. Support comes in at the 128.50 level where a break if seen will aim at the 128.00 level. A cut through here will turn focus to the 127.50 level and possibly lower towards the 127.00 level. On the upside, resistance resides at the 129.50 level. Further out, we envisage a possible move towards the 130.00 level. Further out, resistance resides at the 130.50 level with a turn above here aiming at the 131.00 level. On the whole, EURJPY continues to face further upside threats
 

EURJPYDaily.png

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EURGBP: Bullish, Targets Further Upside pressure

EURGBP- The pair continues to retain its upside pressure closing higher the past week and opening the door for more strength. Support lies at the 0.9000 level where a violation will turn focus to the 0.8950 level. A break will expose the 0.8900 level. Conversely, resistance resides at the 0.9100 level where a violation if seen will turn risk towards the 0.9150 level. Further up, resistance resides at 0.9200 level followed by the 0.9250 level. All in all, EURGBP remains biased to the upside on bull pressure.

EURGBPWeekly-1.png

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EURUSD: Sets Up To Recover Further Higher

EURUSD: The pair looks to recover further higher following its past week strength. On the upside, resistance comes in at 1.1650 level with a cut through here opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 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

EURUSDWeekly-3.png

 

Edited by FXTechstrategyT

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GBPUSD: Looks To Recover Further Higher On Correction

GBPUSD: The pair now faces further corrective recovery as we begin a new week. Support lies at the 1.2800 level where a break will turn attention to the 1.2750 level. Further down, support lies at the 1.2700 level. Below here will set the stage for more weakness towards the 1.2650 l0evel. Conversely, resistance stands at the 1.2850 levels with a turn above here allowing more strength to build up towards the 1.2900 level. Further out, resistance resides at the 1.2950 level followed by the 1.3000 level. On the whole, GBPUSD remains biased to the upside on further correction.

ScreenHunter_133-Aug.-27-20.24.jpg

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EURJPY: Sees Further Bullishness, Remains On The Offensive

EURJPY: The pair looks to recover further higher as it closed strongly higher on Monday. Support comes in at the 129.00 level where a break if seen will aim at the 128.50 level. A cut through here will turn focus to the 128.00 level and possibly lower towards the 127.50 level. On the upside, resistance resides at the 129.50 level. Further out, we envisage a possible move towards the 130.00 level. Further out, resistance resides at the 130.50 level with a turn above here aiming at the 131.00 level. On the whole, EURJPY continues to face further upside threats

EURJPYDaily-2.png

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GOLD: Eyes Further Upside Pressure Towards 1,217.20 Zone

GOLD: The commodity continues to hold on to its upside pressure closing higher on Monday and opening the door for additional gain. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 level. All in all, GOLD looks to strengthen further  higher.
 

XAUUSDDaily-6.png

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EURUSD: Halts Recovery Ahead Of Key Resistance, Faces Pullback Risk

EURUSD: The pair now faces pullback risk after halting its upside pressure on Tuesday. 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 1.1650 level where a violation will aim at the 1.1600 level. A break of here will aim at the 1.1550 level. Below here will open the door for more weakness towards the 1.1500. All in all, EURUSD faces further upside pressure.
 

EURUSDDaily-2.png

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USDCHF: The pair continues to face downside pressure closing further lower on Wednesday. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.9800 level where a break will clear the way for more strength to occur towards the 0.9850 level. Further out, resistance comes in at the 0.9900 level. Above here if seen will turn attention to 0.9950. All in all, USDCHF faces further downside threats.

USDCHFDaily-1.png

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CRUDE OIL: Sees Further Upside, Eyes The 70.41 Region

CRUDE OIL: The commodity faces further recovery threats following its higher close on Wednesday. On the downside, support resides at the 69.50 level where a break will expose the 69.00 level. A cut through here will set the stage for a run at the 68.50 level. Further down, support resides at the 68.00 level. On the upside, resistance resides at the 70.50 level. Further out, resistance comes in at the 71.00 level. A break above here will aim at the 71.50 level and then the 72.00 level followed by the 72.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside.
 

WTI.fsDaily-1.png

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EURJPY: Weakens, Threatens Move Towards The 128.79 Area

EURJPY: The pair looks to weaken further leaving risk of a move towards the 128.79 zone on the cards. Support comes in at the 128.50 level where a break if seen will aim at the 128.00 level. A cut through here will turn focus to the 127.50 level and possibly lower towards the 127.00 level. On the upside, resistance resides at the 129.50 level. Further out, we envisage a possible move towards the 130.00 level. Further out, resistance resides at the 130.50 level with a turn above here aiming at the 131.00 level. On the whole, EURJPY continues to face further downside pressure on correction.

EURJPYDaily-3.png

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USDCHF: Risk Continues To Point Lower, Eyes 1.9600 Region

USDCHF: The With the pair selling off the past week, more weakness is envisaged in the new week. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Above here if seen will turn attention to 0.9850. All in all, USDCHF faces further downside threats on bear pressure

USDCHF-Weekly.jpg

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EURUSD: Loses Upside Momentum, Faces Pullback Risk With Eyes On 1.1534 Zone

EURUSD: The pair looks to pullback in the new week after turning lower the past week. On the upside, resistance comes in at 1.1650 level with a break through there opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 level. Conversely, support lies at the 1.1550 level where a violation will aim at the 1.1500 level. A break of here will aim at the 1.1450 level. Below here will open the door for more weakness towards the 1.1400. All in all, EURUSD faces further downside pressure
 

EURUSDWeekly.png

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GOLD: The commodity looks to weaken further in the new week despite its price hesitation on Friday. On the downside, support comes in at the 1,190.00 level where a break will turn attention to the 1,180.00 level. Further down, a cut through here will open the door for a move lower towards the 1,170.00 level. Below here if seen could trigger further downside pressure targeting the 1,160.00 level. Conversely, resistance resides at the 1,210.00 level where a break will aim at the 1,220.00 level. A turn above there will expose the 1,230.00 level. Further out, resistance stands at the 1,240.00 level. All in all, GOLD looks to weaken further  lower in the new week

XAUUSDDaily.png

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