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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GOLD Retains Upside Pressure On Corrective Recovery

GOLD retains upside pressure on corrective recovery following its price halt on Friday. This development leaves GOLD targeting the 1,314.00 resistance zone in the days ahead. Further out, 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. Its daily RSI is pointing higher suggesting further strength. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. All in all, GOLD looks to move further higher in the days ahead.

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FXTechstrategy Team

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EURUSD Threatens Further Upside Pressure Towards 1.1340 Zone

EURUSD threatens further upside pressure towards 1.1340 zone. This is coming on the back of its Tuesday gain. Support comes in at the 1.1250 where a break will aim at the 1.1200 level. A break below here will target the 1.1150 level. Further down, support lies at the 1.1100. 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. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD continues to threaten further upside pressure.

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FXTechstrategy Team

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USDJPY Sees Rally With Eyes On Key Resistance Area

USDJPY sees rally with eyes on key resistance area located at 11213. Further out, resistance comes in at 112.50 level. Above this level will shift focus to the 113.00 level with a cut through sending the pair towards the 113.50 level. A break through here will open the door for more gain towards the 114.00. Its daily RSI points higher suggesting further upside pressure. On the downside, support comes in at the 111.00 level where a break will target the 110.50 level. Below that level will turn focus to the 110.00 level and then lower towards the 109.50 level. On the whole, USDJPY faces further upside pressure threats.


USDJPYDaily.png
 

FXTechstrategy Team

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EURUSD Threatens Further Upside Pressure With Eyes On 1.1380 Zone

EURUSD threatens further upside pressure with eyes on 1.1380 zone in the new week. Support comes in at the 1.1300 where a break will aim at the 1.1250 level. A break below here will target 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. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD continues to threaten further upside pressure.
 

FXTechstrategy Team

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2,132 5
GOLD Threatening Further Upside Pressure Nearer Term

GOLD threatening further upside pressure nearer term as it closed higher the past week. The pair looks to move higher towards the 1,310.00 resistance zone in the new week. Further out, 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. Its daily RSI is pointing higher suggesting further strength. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. All in all, GOLD looks to move further higher in the days ahead.

XAUUSDDaily.png
 

FXTechstrategy Team

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2,132 5
USDJPY Risk Remains Lower On More Weakness

USDJPY risk remains lower on more weakness as it closed lower on Monday. On the upside, resistance comes in at 111.50 level. Above this level will turn attention to the 112.00 level. Further out, we expect a possible move towards the 112.50 level. A cut through here will open the door for more gain towards the 113.00. On the downside, support comes in at the 111.00 level where a break will target the 110.50 level. Below that level will turn focus to the 110.00 level and then lower towards the 109.50 level. On the whole, USDJPY faces further upside pressure.

USDJPYDaily.png
 

FXTechstrategy Team

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2,132 5
GBPUSD Risk Continues To Point Higher Despite Price Hesitation

GBPUSD risk continues to point higher despite price hesitation. Support stands at 1.3250 level. Further down, support comes in at the 1.3200 level where a break will turn focus to the 1.3150 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. On the upside, resistance stands at the 1.3300 with a turn above here allowing for additional strength to build up towards the 1.3350 level. Further out, resistance stands at the 1.3400 level followed by the 1.3450 level. On the whole, GBPUSD faces further upside pressure on more strength.

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FXTechstrategy Team

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2,132 5
EURUSD Bull Pressure Remains Towards Major Resistance At 1.1419 Area

EURUSD bull pressure remains towards major resistance at 1.1419 area. This is coming on the back of its recent gain. Support lies at the 1.1300 where a break will turn attention to the 1.1250 level. A break below here will target the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.14050 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD continues to threaten further upside pressure.

EURUSDDaily.png
 

FXTechstrategy Team

Senior member
2,132 5
USDCAD Eyes More Upside Pressure On Corrective Recovery

USDCAD eyes more upside pressure on corrective recovery as it saw a rally on Thursday. Support comes in at the 1.3300 level where a break will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.3150 level. Conversely, resistance lies at the 1.3400 level where a violation will target the 1.3450 level. Further up, resistance resides at the 1.3500 level and then the 1.3550 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCAD looks to strengthen further higher on more correction.

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FXTechstrategy Team

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2,132 5
USDJPY Halts Weakness With Eyes On More Recovery

USDJPY eyes more recovery following its price halt on Thursday. As long as it stays above the 110.35 support zone, more price strength is expected. On the upside, resistance comes in at 111.50 level. Above this level will turn attention to the 112.00 level. Further out, we expect a possible move towards the 112.50 level. A cut through here will open the door for more gain towards the 113.00. On the downside, support comes in at the 110.50 level where a break will target the 110.00 level. Below that level will turn focus to the 109.50 level and then lower towards the 109.00 level. On the whole, USDJPY faces further upside pressure on further recovery.

USDJPYDaily.png
 

FXTechstrategy Team

Senior member
2,132 5
NZDUSD Loses Upside Momentum With Risk Seen Towards 0.6808

NZDUSD loses upside momentum with risk see towards 0.6808 in the new week. Resistance comes in at the 0.6900 level where a break will turn attention to the 0.6950 level. A break of here will have to happen to create scope for a move higher towards the 0.7000 level. Further out, resistance resides at the 0.7050 level. Support stands at the 0.6850 level. Further down, the 0.6800 level comes in as the next downside target and then the 0.6750 level. All in all, NZDUSD faces further downside pressure on price rejection.

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FXTechstrategy Team

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2,132 5
EURUSD Expects More Weakness On Price Rejection

EURUSD expects more weakness on price rejection following its lower close the past week. Support stands at the 1.1250 where a break will turn attention to the 1.1200 level. A break below that level will target the 1.1150 level. Further down, support lies at the 1.1100. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 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 threaten further downside pressure.

EURUSDWeekly.png
 

FXTechstrategy Team

Senior member
2,132 5
GOLD Looks To Pullbacks On Corrective Weakness

GOLD looks to pullback on corrective weakness. While the commodity trades below the 1,320.35 level, risk of more decline remains. The commodity looks to move higher towards the 1,320.00 resistance zone. Further out, 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. 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. All in all, GOLD looks to move further lower on correction.

XAUUSDDaily.png
 

FXTechstrategy Team

Senior member
2,132 5
GBPUSD Looks To Follow Through Higher On Correction.

GBPUSD looks to follow through higher on correction. Support stands at 1.3150 level. Further down, support comes in at the 1.3100 level where a break will turn focus 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. On the upside, resistance stands at the 1.3250 with a turn above here allowing for additional strength to build up towards the 1.3300 level. Further out, resistance stands at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD faces further upside pressure on more recovery threats.

GBPUSDDaily.png
 

FXTechstrategy Team

Senior member
2,132 5
EURUSD Sets Up To Resume Downside Pressure

EURUSD sets up to resume downside pressure following reversal of its Monday losses during Tuesday trading session. Support comes in at the 1.1250 where a violation will turn risk to the 1.1200 level. A break below here will target the 1.1150 level. Further down, support sits at the 1.1100. Conversely, on the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 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 threaten further downside pressure on price weakness.