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FXTechstrategy

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  1. GOLD Targets Further Weakness, Eyes 1,298.23 Zone GOLD: The commodity followed through lower the past week to open the door for more on Tuesday, opening the door for additional weakness. 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 targeting 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. All in all, GOLD looks to weaken further on bear pressure.
  2. EURJPY Resumes Broader Uptrend, Remains On THe Offensive EURJPY: The pair remains offensive following its trend resumption the past week. 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 132.00 level. Further out, we envisage a possible move towards the 133.50 level. Further out, resistance resides at the 134.00 level with a turn above here aiming at the 134.50 level. On the whole, EURJPY faces further bull pressure in the days ahead.
  3. GOLD Targets Further Weakness Towards Psycho Support at 1,300.00 Zone GOLD: The commodity closed lower the past week to open the door for more weakness. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to weaken further.
  4. EURUSD: Broader Bias Remains Higher But With Caution EURUSD: With the pair still holds on to its broader uptrend despite lower close the past week. Resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break will expose the 1.2150 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 upside pressure though with caution.
  5. EURUSD Backs Off Lower Prices, Eyes Further Upside Pressure EURUSD: With the pair halting its weakness to close higher on Thursday, a move further higher is envisaged. Resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break will expose the 1.2150 level. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. Below here will open the door for more weakness towards the 1.1750. All in all, EURUSD faces further upside on corrective recovery.
  6. EURGBP: Tumbles, Continues To Retain Its Downside Pressure EURGBP- The cross continues to hold on to its downside pressure selling off on Thursday and opening the door for more weakness. Support lies at the 0.8850 level where a violation will turn focus to the 0.8800 level. A break will expose the 0.8850 level. Resistance resides at the 0.8900 level where a violation if seen will turn risk towards the 0.8950 level. Further up, resistance resides at 0.9000 level followed by the 0.9050 level. Its daily RSI is bearish and pointing lower suggesting more weakness. All in all, EURGBP remains biased to the downside on further weakness
  7. CRUDE OIL Targets Further Upside Pressure Towards 49.39 Zone CRUDE OIL: The commodity is building up on its Tuesday gains as it eyes it key resistance residing at 49.39 zone. On the downside, support resides at the 48.00 level where a break will expose the 47.50 level. A cut through here will set the stage for a run at the 47.00 level. Further down, support resides at the 46.50 level. On the upside, resistance resides at the 49.00 level. Further out, resistance comes in at the 49.50 level. A break above here will aim at the 50.00 level and then the 50.00 level followed by the 50.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside nearer term.
  8. EURUSD Sees Bear Pressure, Targets The 1.1867 Zone EURUSD: With the pair seen closing lower on correction on Monday and following through on Tuesday, more decline is envisaged in the days ahead. Resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break will expose the 1.2150 level. Its daily RSI is bearish and pointing lower suggesting further downside pressure. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. Below here will open the door for more weakness towards the 1.1750. All in all, EURUSD faces further downside on correction.
  9. USDJPY Triggers Corrective Recovery, Eyes 109.00 Zone USDJPY: The pair saw a saw recovery during early trading today opening the door for correction in the days ahead. On the downside, support comes in at the 108.00 level where a break if seen will aim at the 107.50 level. A cut through here will turn focus to the 107.00 level and possibly lower towards the 106.50 level. On the upside, resistance resides at the 109.00 level. Further out, we envisage a possible move towards the 109.50 level. Further out, resistance resides at the 110.00 level with a turn above here aiming at the 110.50 level. On the whole, USDJPY now faces a recovery higher threats.
  10. GOLD Faces Pullback Threats Despite Bull Pressure GOLD: The commodity looks to weaken further following its Friday price rejection. On the downside, support comes in at the 1,340.00 level where a break will turn attention to the 1,330.00 level. Further down, a cut through here will open the door for a move lower towards the 1,320.00 level. Below here if seen could trigger further downside pressure targeting the 1,310.00 level. Conversely, resistance resides at the 1,350.00 level where a break will aim at the 1,360.00 level. A turn above there will expose the 1,370.00 level. Further out, resistance stands at the 1,380.00 level. All in all, GOLD looks to weaken further.
  11. EURUSD Closes Higher On Bull Pressure But With Caution EURUSD: With the pair seen closing higher on Tuesday, more recovery is envisaged. Resistance comes in at 1.2100 level with a cut through here opening the door for more upside towards the 1.2150 level. Further up, resistance lies at the 1.2200 level where a break will expose the 1.2250 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.2000 level where a violation will aim at the 1.1950 level. A break of here will aim at the 1.1900 level. Below here will open the door for more weakness towards the 1.1850. All in all, EURUSD faces further upside towards its key resistance.
  12. GBPUSD: Bullish On Price Extension GBPUSD: The pair followed through higher on Friday on the back of Thursday gains. Support lies at the 1.3150 level where a break will turn attention to the 1.3100 level. Further down, support lies at the 1.3050 level. Below here will set the stage for more weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3250 levels with a turn above here allowing more strength to build up towards the 1.3300 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD continues to face further upside pressure with price extension on Friday.
  13. EURUSD Remains Vulnerable To The Downside Below Key Resistance EURUSD: With the pair continuing to retain its downside pressure on correction, more weakness is likely despite present price hesitation. Resistance comes in at 1.1950 level with a cut through here opening the door for more upside towards the 1.2000 level. Further up, resistance lies at the 1.2050 level where a break will expose the 1.2100 level. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. All in all, EURUSD faces further downside pressure on correction.
  14. CRUDE OIL: Extends Its Upside Pressure On Recovery CRUDE OIL: The commodity has extended its bull pressure as it looks to build up on it further. On the downside, support resides at the 47.50 level where a break will expose the 47.00 level. A cut through here will set the stage for a run at the 46.50 level. Further down, support resides at the 46.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the upside, resistance resides at the 48.50 level. Further out, resistance comes in at the 49.00 level. A break above here will aim at the 49.50 level and then the 50.00 level followed by the 50.50 level. All in all, CRUDE OIL remains biased to the upside nearer term on corrective recovery.
  15. EURUSD Loses Upside Steam, Targets Further Weakness EURUSD: With the pair rejecting higher to close lower the past week, more decline is envisaged. 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. A cut though here will open the door for more strength towards 1.1650 level. All in all, EURUSD faces further downside pressure on corrective pullback.
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