FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

GBPUSD: Weakens, Key Support Level Targeted.

GBPUSD: GBP remains weak and vulnerable following through on its Wednesday losses and targeting further downside. Support comes in at the 1.5200 level. We expect a cap to occur here and turn it higher but if taken out, further downside could follow towards the 1.5150 level and then the 1.5100 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, it will have to return to the 1.5477 level to halt its declines. This if seen will push it further towards the 1.5530/55 levels. Above here if seen will open the door for more upside towards the 1.5676 level with a breach of here turning focus to the 1.5750 level. On the whole, GBP continues to face bear threats.

 

[FXTechstrategy Team]

AUDUSD: Looks To Return To Recapture Key Support On Price Failure

AUDUSD: With corrective recovery ending at the 0.9344 level and the pair now weakening, there is risk of an eventual return to the 0.9147 level. Below here will set the stage for more downside towards the 0.9100 level followed by its big psycho level at the 0.9000 level. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, AUDUSD will have to return above the 0.9344 level to resume its halted recovery. Further out, resistance resides at the 0.9400 level and then the 0.9450 level. All in all, the pair remains biased to the downside.

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

What happened to the American rates when small investors in the futures market have had important short positions as now? The answer to the graph:

 

[FXTechstrategy Team]

USDCHF: Strengthens On Further Recovery.

USDCHF – As referenced in our previous week analysis, USDCHF strengthened further for a second week in a row leaving risk of more gains on the cards in the new week. If this occurs expect the pair to push higher towards the 0.9625 level where price hesitation may happen. However, if that level is broken, It will pave the way for a run at the 0.9720 level, represent its weekly 200 ema and then the 0.9838 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, the risk to our analysis will be a return to the downside towards the 0.9303 level where a violation will aim at the 0.9130 level. Further down, support resides at the 0.9100 level. On the whole, the pair is maintaining a recovery tone in the short term.

 

[FXTechstrategy Team]

EURUSD: Headed Towards Trendline Support

EURUSD: Having closed lower for a second week in a row, the risk is for a follow through lower to occur. In such a case, further downside will target the 1.2906 level, its trendline support. Below here will call for a run at the 1.2800 level where a break will aim at the 1.2700 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, the pair will have to return above the 1.3150 level to halt its present weakness. This could force further upside towards the 1.3242 level and then the 1.3415 level. This if seen will expose the 1.3450 level with a cut through here targeting the 1.3550 level. All in all, EUR continues to retain its short term downside bias.

 

[FXTechstrategy Team]

GOLD: Sees Further Bearish Momentum

GOLD: The commodity remains on the tear weakening further the past week and targeting further downside in the new week. This development leaves GOLD aiming at the 1,170.00 level where a violation will turn attention to the 1,150 level. Further down, support comes in at the 1,100 level. Its weekly RSI is bearish and pointing lower supporting its broader downside. On the upside, GOLD will have to return above the 1,269.00 level and then the 1,321/38 levels to reduce its present downside pressure. Further out, resistance resides at the 1,370.00 level and then the 1,400.00 level, its psycho level. A cap may occur here and turn it lower. All in all, GOLD remains vulnerable to the downside in the medium term.

 

[FXTechstrategy Team]

USDJPY: Bullish, Extends Its Strengthen.

USDJPY: More upside offensive is now underway following its strong close for a second week in a row the past week. This development leaves USDJPY targeting further upside towards the 100.00 level where a breach will aim at the 100.71 level. A cut through here will pave the way for a run at the 102.51 level and then the 103.73 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk is for the pair to reverse its past week recovery and recapture the 98.69 level where a violation if seen will turn focus to the 97.95 level. Further down, support comes in at the 95.50 level and then the 93.78 level. On the whole, USDJPY maintains a bullish bias follow two successive weeks of bullish offensive.

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

Monthly closure of June with a shooting star for UsdJpy, warning signals for those who want to go long.

 

[Rambo35]

Re: EURUSD: Headed Towards Trendline Support

Wrong chart with your trade there champ. I do think that the EURUSD is finding support and feel good about my longs around 1.3000. I think the USD will get hammered after Friday's NFP report.

 

[FXTechstrategy Team]

EURUSD: Still Bearish Short Term Despite Recovery Attempts.

EURUSD: We are still holding our downside view on EUR despite its attempts at recovering higher. This is consistent with its weakness triggered off the 1.3415 level. A failed recovery could see it recapture the 1.2982 level where a break will resume its weakness towards the 1.2918 level. Below here will aim the 1.2850 level and then the 1.2800 level. On the other hand, the pair will have to recapture the 1.3254 level to signal an end to its corrective weakness. This if it occurs will set the stage for more upside towards the 1.3318 and then the 1.3415 level. Above here will resume its broader upside towards the 1.3450 level. All in all, EUR continues to retain its medium term upside bias but faces bear threats correction.

 

[FXTechstrategy Team]

GBPUSD: Bearish, Remains Weaken And Vulnerable.

GBPUSD: Price extension saw GBP weakening further Tuesday. This development leaves it targeting the 1.5139 level. We expect a cap to occur here and turn it higher but if taken out, further downside could follow towards the 1.5050 level. Further down, support comes in at the 1.5000 level, its big psycho level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, it will have to return to the 1.5248 level, its July 01’2013 high to halt its weakness. This if seen will have to occur to expose the 1.5350 level and then the 1.5477 level. On the whole, GBP continues to face bear threats with eyes on the 1.5100 level

 

[neil]

Re: GBPUSD: Bearish, Remains Weaken And Vulnerable.

GBPUSD: Price extension saw GBP weakening further Tuesday. This development leaves it targeting the 1.5139 level. We expect a cap to occur here and turn it higher but if taken out, further downside could follow towards the 1.5050 level. Further down, support comes in at the 1.5000 level, its big psycho level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, it will have to return to the 1.5248 level, its July 01’2013 high to halt its weakness. This if seen will have to occur to expose the 1.5350 level and then the 1.5477 level. On the whole, GBP continues to face bear threats with eyes on the 1.5100 level

Is that RSI trend line drawn correctly ?

 

[NVP]

Re: GBPUSD: Bearish, Remains Weaken And Vulnerable.

does look light in the loafer for such a big move ..............

 

[elisab]

Re: Technical Outlook, Strategies & Commentaries On The Major Currencies

Bad news for the Brazilian Real coming from the technical analysis and the economy: Protests in Brazil: Polices Have Consequences | BCA Research | FINANCIAL SENSE

 

[FXTechstrategy Team]

EURGBP- Turns Lower. Trades Below The 0.8597 Level

EURGBP- The cross sold off on Wednesday failing to retake the 0.8597 level and opening the door for more downside. If its present weakness extends, expect a move lower towards the 8409 level followed by the 0.8363 level. Additionally, support comes in at the 0.8300 level. Conversely, to reverse its downside pressure EURGBP will have to recapture the 0.8597 level. This level must break to convince the market of further upside gains possibly towards the 0.8700 level and then the 0.8750 level. All in all, the cross remains vulnerable.

 

[FXTechstrategy Team]

EURUSD: Reverses Lower On Price Failure.

EURUSD: With EUR selling off to reverse its Wednesday gains on Thursday, there is risk of further declines in the days ahead. Further down, support resides at the 1.2837 level where a violation will aim at the 1.2798 level. Bears may come in here and push the pair back up but if this fails, look for more downside to occur towards the 1.2700 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to turn higher above the 1.3031 level to take back its present weakness. This if seen will extend further upside towards the 1.3100 level and then the 1.3150 level. All in all, EUR continues to retain its medium term downside bias.

 

[FXTechstrategy Team]

EURUSD: Declines With Eyes On The 1.2750 Level.

EURUSD: With a sharp sell off occurring the past week, further downside is likely. This leaves the pair targeting the 1.2750 level with a turn below here shifting attention to the 1.2700 level and then the 1.2600 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, the pair will have to return above the 1.3000 level to halt its present weakness. This could force further upside towards the 1.3100 level and then the 1.3200 level. All in all, EUR continues to retain its downside bias.

 

[FXTechstrategy Team]

GBPUSD: Bounces Higher, Recovering With Caution.

GBPUSD: While corrective recovery attempts have set in, GBP’s broader downside bias remains intact as long as the 1.5003 level remains unbroken. On ending its correction it should retarget the 1.4830 level. We expect a halt to occur here and possibly turn it higher again but if taken out, further weakness will follow towards the 1.4750 level. Further down, support lies at the 1.4700 level. On the upside, GBP will have to break and hold above the 1.5003/7 levels to halt its broader weakness and bring further upside towards the 1.5050 level. On continued recovery, resistance comes in at the 1.5100 level. On the whole, GBP continues to retain its downside bias in the short term.

 

[FXTechstrategy Team]

USDJPY: Bull Pressure Unharmed.

USDJPY: The pair remains biased to the upside despite its price hesitation on Monday. Resistance resides at the 101.50 level with violation of here creating scope for a run at the 102.00 level. Further out, resistance comes in at the 102.51 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support is located at the 100.00 level where a breach will turn focus to the 99.27 level. A reversal of roles as support is likely to occur here and turn the pair higher. However, if this level fails to hold, further decline will develop towards the 98.00 level and then the 97.00 level. On the whole, USDJPY remains on the offensive.

 

[FXTechstrategy Team]

GBPUSD: Weak And Vulnerable Medium Term

GBPUSD: With a reversal of its one-day recovery occurring on Tuesday following a sell off, there is risk of further weakness though seen hesitating. The immediate support is at the 1.4930/00 area where a violation will push it further lower towards the 1.4750 level. Further down, support comes in at the 1.4700 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, GBP will have to break and hold above the 1.5003/7 levels to halt its broader weakness and bring further upside towards the 1.5050 level. On continued recovery, resistance comes in at the 1.5100 level. On the whole, GBP continues to retain its downside bias in the short term.