Technical Outlook, Strategies & Commentaries On The Major Currencies

[FXTechstrategy Team 10]

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 10]

EURGBP- Bearish, Threatens Further Downside

 

EURGBP- We continue to hold our downside bias on the cross as it continues to maintain its bearishness. On the downside, support lies at the 0.7800 level where a break will expose the 0.7780 level. Further down, support comes in at the 0.7750 level where a violation will turn attention to the 0.7700 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 0.7900 level where a violation if seen will turn focus to the 0.7950 level. All in all, the cross is biased to the downside in the medium term.

 

[FXTechstrategy Team 10]

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 10]

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 10]

EURUSD: Eyes Further Upside On Recovery

 

EURUSD: With EUR remaining biased to the upside on recovery, further strength is envisaged. Support lies at the 1.2570 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2450 level. If this continues, expect further downside to occur towards the 1.2400 level. 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 10]

USDCHF: Bearish, Extends Weakness

 

USDCHF: With the pair remaining vulnerable to the downside and extending its weakness during Thursday trading session, we look for more decline to occur. 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. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9532 level where a break will aim at the 0.9595 level. Further out, resistance resides at the 0.9650 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction

 

[FXTechstrategy Team 10]

AUDUSD: Declines, Targets Further Downside

 

AUDUSD: Having turned lower off its higher prices following an end to its correction on Thursday, further decline is now seen. Support lies at the 0.8650 level with a cut through here turning attention to the 0.8600 level and then the 0.8550 level where a violation will set the stage for a retarget of the 0.8500 level. Its daily RSI is bearish and pointing lower supporting this view. 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. All in all, the pair faces further downside risk.

 

[FXTechstrategy Team 10]

USDCHF: Weakens But With Caution

 

USDCHF: With the pair closing lower the past week, it faces further downside pressure. However, on the daily chart that weakness seem to have been halted suggesting a resumption of its broader upside could be developing. On the downside, support lies at the 0.9500 level with a break targeting the 0.9450 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9680 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the upside in the medium term despite recovery threats.

 

[FXTechstrategy Team 10]

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 10]

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 10]

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.

 

[FXTechstrategy Team 10]

GBPUSD: Sells Off, Eyes More Decline

 

GBPUSD: With GBP selling off to resume its broader downtrend during Thursday trading session, further weakness is likely. On the downside, support lies at the 1.5920 level where a break will aim at the 1.5850 level. A break of here will turn attention to the 1.5800 level. Further down, support lies at the 1.5750 level. Its daily RSI is bullish and pointing lower supporting this view. Resistance resides at the 1.6000 level with a break aiming at the 1.6050 level. A violation will aim at the 1.6100 level and possibly higher towards the 1.6150 level. On the whole, GBP continues to retain its broader downside bias medium term

 

[FXTechstrategy Team 10]

EURJPY: Faces Further Downside Pressure.

 

EURJPY- With the cross turning lower and reversing its Monday gains, further decline is envisaged. Support comes in at the 135.00 level where a break will aim at the 134.50 level. A break will target the 134.00 level with a breach turning focus to the 133.50 level. Below here will aim at the 133.00 level. On the upside, resistance resides at the 136.00 level where a break if seen will threaten further upside towards the 136.50. Further out, resistance resides at the 137.00 level where a break will aim at the 137.50. All in all, the cross faces correction recovery risk.

 

[FXTechstrategy Team 10]

USDJPY: Pullback Threats Seen But With Caution

 

USDJPY: With USDJPY reversing its Tuesday gains to close lower on sell off on Wednesday, further downside pressure is envisaged. However, a corrective recovery higher may occur in the days ahead especially now that it has tested its key support at 105.43 level (visible on the weekly chart). On the downside, support comes in at the 105.00 level where a break will target the 104.50 level. Below here if seen will aim at the 104.00 level followed by the 103.50 and then the 103.00. On the upside, resistance resides at the 106.50 level followed by the 107.00 level where a break will target the 107.50 level. Further out, resistance comes in at the 108.00 level where a violation will aim at the 108.50 level. On the whole, USDJPY remains exposed to the downside.

 

[FXTechstrategy Team 10]

EURJPY: Targets Further Bullishness

 

EURJPY- Having reversed its intra day weakness to close higher on a rejection candle formation on Thursday, further recovery higher is likely. Support comes in at the 135.50 level where a break will aim at the 135.00 level. A break will target the 134.50 level with a breach turning focus to the 134.00 level. Below here will aim at the 133.50 level. On the upside, resistance resides at the 136.50 level where a break if seen will threaten further upside towards the 137.00. Further out, resistance resides at the 137.50 level where a break will aim at the 138.00. All in all, the cross faces correction recovery risk.

 

[FXTechstrategy Team 10]

USDCHF: Bearish, Extends Weakness

 

USDCHF: Outlook for the pair continues to point lower following its bearish price extension the past week. On the downside, support lies at the 0.9350 level with a break targeting the 0.9300 level and then the 0.9250 level. Further down, support comes in at the 0.9200 level. A cut through here will target the 0.9150 level. On the upside, resistance resides at the 0.9450 level where a break will aim at the 0.9500 level. Further out, resistance resides at the 0.9550 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction

 

[Guest muhitalam]

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[FXTechstrategy Team 10]

USDJPY: Hesitates Ahead Of The 107.52 Level.

 

USDJPY: Trouble is now looming ahead of the 107.52 level as USDJPY is now facing bear threat. If it closes lower on a negative candle, it would have ended its recovery and turned risk lower. On the downside, support comes in at the 106.00 level where a break if seen will aim at the 105.50.00 level. A break if it occurs will aim at the 106.00 followed by the 105.00. Conversely, resistance resides at the 107.50 level where a break will target the 108.00 level. Further out, resistance comes in at the 108.50 level where a violation will aim at the 109.00 level. On the whole, USDJPY remains exposed to the downside short term.

 

[FXTechstrategy Team 10]

EURUSD: Risk Turns Lower, Extends Weakness

 

EURUSD: With EUR turning lower on Tuesday and following through lower on Wednesday, further bearishness is now envisaged. On the other hand, 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. On the upside, resistance lies at the 1.2733 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 upside in the short term.

 

[shuvo7748 10]

Hello FXTechstrategy Team,

 

I like this post. i also going to share ``EURUSD Technical Analysis`` Take a look and let me know how is it....

 

D1 price is on bearish ranging between 1.2583 support and 1.2886 resistance levels.

 

H4 price is on bullish ranging between 1.2705 support and 1.2839 resistance:

 

price is above Sinkou Span A line and above Ichimoku cloud/kumo which is indicating the bullish as a primary trend

Chinkou Span line of Ichimoku indicator is coming to be very near with the price. If Chinkou Span line will break the price from above to below so we may see good correction within primary bullish with good possibility to price reversal from bullish to bearish market condition.

W1 price is on bearish: market rallyf as secondary trend is just started with 1.2500 as a key support level.

 

MN price: bearish - Chinkou Span line is crossing the price on open bar together with 1.2571 support level which is ready to be broken on open bar too. If Chinkou Span line will break MN price from above to below on close monthly bar so we may see the bearish market condition for this pair for the next months of this and next year. I just hope it will not be start on this November.

 

If D1 price will break 1.2583 support level so the primary bearish will be continuing (good to open sell trade for example)

If D1 price will break 1.2886 resistance - we may see the secondary market rally inside primary bearish (good to counter-trend trading systems)

If not so we may see the ranging market condition within bearish.

 

Recommendation for long: watch D1 price to break 1.2886 resistance for possible buy trade

Recommendation to go short: watch D1 price to break 1.2583 support for possible sell trade

Trading Summary: bearish

[FXTechstrategy Team 10]

GBPJPY: Strengthens, Eyes Further Upside

 

GBPJPY – With GBPJPY taking back some of its intraday losses on Wednesday and strengthening during Thursday trading today, further upside pressure is expected. On the upside, resistance lies at the 173.50 level followed by the 174.00 level where a break will aim at the 175.00 level. A cut through here will aim at the 175.50 level. On the downside, support comes in at the 171.00 level where a violation will aim at the 170.00 level. A break below here will target the 169.50 level followed by the 169.00 level. Further down, support lies at the 168.50 level. All in all, the cross remains biased to the upside on recovery.

 

[FXTechstrategy Team 10]

USDCAD: Biased To The Downside On Pullback

 

USDCAD: Our bias on the pair continues to point lower on correction of its recent strength. On the downside, support lies at the 1.1150 level followed by the 1.1100 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1050 level and then the 1.1000 level. On the upside, resistance is seen at the 1.1250 level followed by the 1.1300 level. Further out, resistance comes in at the 1.1350 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1400 level. All in all, USDCAD continues to face corrective threats

 

[FXTechstrategy Team 10]

USDCHF: Faces Further Recovery Threats

 

USDCHF: The pair put in a temporary bottom and closed higher the past week. This development leaves USDCHF threatening further upside. On the downside, support lies at the 0.9450 level with a break targeting the 0.9471 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9600 level where a break will aim at the 0.9650 level. Further out, resistance resides at the 0.9700 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the upside in the medium term.

 

[FXTechstrategy Team 10]

EURUSD: Threatening Trend Resumption

 

EURUSD: With EUR halting its recovery the past week , it faces downside risk in the new week. On the upside, resistance lies at the 1.2839 level where a break will aim at the 1.2900 level, its psycho level followed by the 1.2950 level. Further out, resistance comes in at the 1.3050 level. 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. All in all, EUR remains biased to the upside on recovery.

 

[FXTechstrategy Team 10]

AUDUSD: Faces Consolidation Risk

 

AUDUSD: The pair continues to consolidate as it looks for directional trigger. 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. 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. All in all, the pair faces further downside risk.