FXTechstrategy Team: Forex Analysis

What does January holds for EURUSD having continued to hold its medium term downtrend


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FXTechstrategy Team

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2,383 6
EURUSD Bull Recovery Remains Intact But With Caution

EURUSD bull recovery remains intact as more strengthen is envisaged. However, with price hesitation seen on Friday that strength may subside a bit. On the upside, resistance comes in at 1.1600 level with a break through there 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 1.1550 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 still faces further upside pressure on corrective recovery.

 

FXTechstrategy Team

Senior member
2,383 6
USDCAD Remains Vulnerable Towards 1.2926/00 Zone

USDCAD remains vulnerable towards 1.2926/00 zone as it retains its pullback pressure. Support lies at the 1.2900 level where a break will aim at the 1.2850 level. Further down, support comes in at the 1.2800 level where a turn lower may occur. But if further weakness occurs support comes in at the 1.2750 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the up, resistance comes in at the 1.3000 level where a violation will target the 1.3050 level. Further up, resistance resides at the 1.3100 level and then the 1.3150 level. All in all, USDCAD looks to weaken further on correction.

 

FXTechstrategy Team

Senior member
2,383 6
EURUSD Downside Pressure Stalls, Bounces Off 1.1531 Support

EURUSD downside pressure stalled as it saw a bounce off its key support at 1.1531 to close higher on Friday. While that level holds as support it faces the risk of a move further higher nearer term. On the upside, resistance comes in at 1.1550 level. A break through there opens 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. On the downside, support lies at the 1.1450 level where a violation will aim at the 1.1400 level. A break of here will aim at the 1.1350 level. Below here will open the door for more weakness towards the 1.1300. All in all, EURUSD still faces a downside pressure medium term but with recovery threats.

 

FXTechstrategy Team

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2,383 6
GOLD Faces Consolidation Threats On Price Halt

GOLD faces consolidation threats following a price halt on Friday. On the downside, support comes in at the 1,215.00 level where a break will turn attention to the 1,205.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,100.00 level. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, resistance resides at the 1,230.00 level where a break will aim at the 1,240.00 level. A turn above there will expose the 1,250.00 level. Further out, resistance stands at the 1,260.00 level. All in all, GOLD looks to decline further lower on price halt.

 

FXTechstrategy Team

Senior member
2,383 6
USDJPY Price Reversal Leaves Risk Towards 112.88 Zone

USDJPY price reversal leaves risk towards the 112.88 resistance. On the downside, support comes at the 112.00 level where a break will target the 111.50 level. A break through here will turn focus to the 111.00 level and then lower towards the 110.50 level. On the upside, resistance comes in at 112.50 level. Above here will open the door for more strength towards the 113.00 level. Further out, we expect a possible move towards the 113.50 level on a break of the former level. Further out, resistance resides at the 114.00 level with a turn above here targeting the 114.50 level. On the whole, USDJPY faces further upside pressure following its price reversal

 

FXTechstrategy Team

Senior member
2,383 6
AUDUSD Triggers Price Rally, Eyes More Strength

AUDUSD triggers price rally and now eyes next resistance at 0.7200 level. On the upside, anothprice rally and now eyes next resistance at 0.7200 level. On the upside, anotho the 0.7300 level and then the 0.7350 level. Break above here will open the door for a move towards the 0.7400 level. Its daily RSI is bullish and pointing higher suggesting further strength. Support resides at the 0.7100 level where a breach will aim at the 0.7050 level. Below here will set the stage for a run at the 0.7000 level with a cut through here targeting further downside pressure towards the 0.6950 level. On the whole, AUDUSD faces further upside threats with eyes on key resistance.

 

FXTechstrategy Team

Senior member
2,383 6
EURUSD Short Term Bearishness Remains Valid With More Weakness

EURUSD short term bearishness remains valid with more weakness expected in the new week. This is coming on the back of its past week flat close. Support lies at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will aim at the 1.1250 level. Further down, support lies at the 1.1200. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at 1.1400 level. A break through there will open the door for further upside towards the 1.1500 level. Further up, resistance comes in at the 1.1550 level where a violation will expose the 1.1600 level. All in all, EURUSD continues to face further downside pressure in the medium term

 

FXTechstrategy Team

Senior member
2,383 6
GOLD Threatens More Bull Pressure Towards 1,243.00 Zone

GOLD threatens more bull pressure as it looks to retarget the 1,243.41 resistance zone. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,1990.00 level. Resistance resides at the 1,243.41 level where a break will aim at the 1,250.00 level. Above here will expose the 1,260.00 level. Further out, resistance stands at the 1,270.00 level. Its weekly RSI is bullish and pointing higher suggesting further strength. All in all, GOLD looks to recover further higher.

 

FXTechstrategy Team

Senior member
2,383 6
NZDUSD Recovers Higher Towards 0.6698 Resistance Zone

NZDUSD recovers higher towards 0.6698 resistance zone as the pair holds on to its upside pressure. Resistance comes in at the 0.6700 level where a break will turn focus to the 0.6750 level. A break of here will have to happen to open the door for a move towards the 0.6800 level. Further out, resistance stands at the 0.6850 level. On the downside, support lies at the 0.6700 level. Further down, the 0.6750 level comes in as the next downside target. And then the 0.6800 level. All in all, NZDUSD faces further upside pressure on further corrective recovery.

 

FXTechstrategy Team

Senior member
2,383 6
EURUSD Sees Strong Rally With Eyes On 1.1549 Zone

EURUSD sees strong rally with eyes on the 1.1549 zone. This is a build up on its recent bullish recovery. Support lies at the 1.1450. A violation will aim at the 1.1400 level. A turn below here will target the 1.1350 level. Further down, support lies at the 1.1300. On the upside, resistance resides at 1.1550 level with a break through there opening the door for further upside towards the 1.1600 level. Further up, resistance comes in at the 1.1650 level where a violation will expose the 1.1700 level. All in all, EURUSD continues to face further upside pressure.

 

FXTechstrategy Team

Senior member
2,383 6
USDCHF Retains Broader Upside Bias, Eyes 1.0094 Region

USDCHF retains broader upside bias with eyes is key resistance located at 1.0094. Further out, resistance resides at the 1.0150 level where a breach will clear the way for more strength to develop towards the 1.0200 level. Above here, resistance comes in at the 1.0250 level followed by the 1.0300 level. On the downside, support lies at the 1.0000 level. A turn below there will open the door for more decline towards the 0.9950 level. And then the 0.9900 level. All in all, USDCHF faces further price strength with eyes on the 1.0094 and beyond.

 

FXTechstrategy Team

Senior member
2,383 6
EURUSD Downside Pressure Builds Up Towards 1.3000 Zone

EURUSD downside pressure builds up towards the 1.3000 zone. This is coming on the back of its pasty week price weakness. Support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break below here will aim at the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to face further downside pressure medium term

 

FXTechstrategy Team

Senior member
2,383 6
GOLD Eyes Additional Price Weakness Towards 1,200.00 Area

GOLD eyes additional price weakness towards 1,200.00 area in the new week. This is coming on the back of its past week losses. 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. Its weekly RSI is bearish and pointing lower suggesting further weakness. 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 weaken further lower short term.

 

FXTechstrategy Team

Senior member
2,383 6
GBPJP Challenges 146.00 Key Support Zone On Bearishness

GBPJPY challenges 146.00 key support zone on bearishness. This is a follow through lower on the back of its Friday losses. On the downside, support comes in at the 145.50 level where a violation will aim at the 145.00 level. A break below here will target the 144.50 level followed by the 144.00 level. Conversely, resistance comes in at the 147.00 level followed by the 147.50 level. A cut through that level will set the stage for a move further higher towards the 149.50 level. Further out, resistance resides at the 150.00 level. All in all, GBPJPY faces further downside pressure on further decline.

 

FXTechstrategy Team

Senior member
2,383 6
USDJPY Broader Risk Points Higher Towards 114.53 Resistance

USDJPY broader risk points higher towards 114.53 resistance zone. As long as the pair trades and holds above the 113.38/57 support levels, its broader uptrend remains valid. On the upside, resistance comes in at 115.00 level. Above here will turn focus to the 115.50 level. Further out, we expect a possible move towards the 116.00 level if the earlier level is taken out. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the downside, support comes in at the 113.50 level where a break will target the 113.00 level. A break through that level will turn focus to the 112.50 level and then lower towards the 112.00 level. On the whole, USDJPY faces further upside pressure with eyes on the 114.53 zone
 
 
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