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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GBPJPY Looks To Strengthen Further On Recovery

GBPJPY looks to strengthen further on recovery following Its Tuesday price rejection. On the downside, support comes in at the 128.50 level where a violation will aim at the 128.00 level. A break below here will target the 127.00 level followed by the 127.00 level. Conversely, resistance is seen at the 129.50 level followed by the 130.00 level. A cut through that level will set the stage for a move further higher towards the 130.50 level. Further out, resistance resides at the 131.00 level. All in all, GBPJPY remains biased to the upside on further recovery.


 

FXTechstrategy Team

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EURUSD Declines With Eyes On 1.1026/00 Support Zone

EURUSD declines with eyes on 1.1026/10 support zone as looks to resume its broader downside pressure. Support comes in at the 1.1000 where a violation will turn risk to the 1.0950 level. A break below here will target the 1.0900 level. Further down, support sits at the 1.0850. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1100 level with a violation of there opening the door for further gain towards the 1.1150 level. Further up, resistance lies at the 1.1200 level. A cut through that level will clear the way for a move towards the 1.1250 level. All in all, EURUSD expects looks to weaken further towards the 1.1026/10 support zone.

 

FXTechstrategy Team

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GBPUSD Bullish Strength Leaves Risk Towards 1.2381 Level

GBPUSD bullish strength leaves risk towards 1.2381 level following its rally on Thursday. Support lies at 1.2200 with a turn below that level turning attention to the 1.2150 level. Further down, support resides at the 1.2100 level where a break will turn attention to the 1.2050 level. Further down, support lies at the 1.2000 level. On the upside, resistance stands at the 1.2300 with a turn above here allowing for additional strength to build up towards the 1.2350 level. Further out, resistance stands at the 1.2400 level followed by the 1.2450 level. On the whole, GBPUSD retains its corrective upside pressure


 

FXTechstrategy Team

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USDCHF Weakens On Strong Sell-off

USDCHF weakens on strong sell-off following its intra day price rejection on Friday. Resistance comes in at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance stands at the 1.0000 level. On the downside, support is located at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support comes in at the 0.9600 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further weakness.


 

FXTechstrategy Team

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EURUSD Backs Off Lower Prices With Eyes On 1.1200

EURUSD backs off lower prices with eyes on 1.1200 resistance as we enter a new week. Support comes in at the 1.1100 where a violation will turn risk to the 1.1050 level. A break below here will target the 1.1000 level. Further down, support sits at the 1.0950. Conversely, on the upside, resistance comes in at 1.1200 level with a violation of there opening the door for further gain towards the 1.1250 level. Further up, resistance lies at the 1.1300 level. A cut through that level will clear the way for a move towards the 1.1350 level. Its weekly RSI is bullish and pointing higher suggesting more gain. All in all, EURUSD expects more recovery higher in the new week.



 

FXTechstrategy Team

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GOLD Further Bull Pressure Is Envisaged

GOLD further bull pressure is envisaged as we look for price extension. On the downside, support comes in at the 1,520.00 level where a break will turn attention to the 1,510.00 level. Further down, a cut through here will open the door for a move lower towards the 1,500.00 level. Below here if seen could trigger further downside pressure targeting the 1,490.00 level. Conversely, resistance resides at the 1,530.00 level. Further out, resistance resides at the 1,540.00 level where a break will aim at the 1,550.00 level. A turn above there will expose the 1,560.00 level. Further out, resistance stands at the 1,570.00 level. All in all, GOLD looks to strengthen further in the new week.


 

FXTechstrategy Team

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USDCAD Bear Pressure Sets Up To Extend Further

USDCAD bear pressure sets up to extend further following its Friday losses. Support lies at the 1.3200 level where a violation will aim at the 1.3150 level. Further down, support comes in at the 1.3100 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3050 level. Its daily RSI remains vulnerable to the downside suggesting more decline. Conversely, resistance stands at the 1.3300 level where a break will target the 1.3350 level. Further up, resistance resides at the 1.3400 level and then the 1.3450 level. All in all, USDCAD looks to weaken further in the days ahead.

 

FXTechstrategy Team

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EURUSD Risk Turns Lower Towards 1.1051/26 Support Zone

EURUSD risk turns lower towards 1.1051/25 support zone as it retains downside pressure. Support comes in at the 1.1050 where a violation will turn risk to the 1.1000 level. A break below here will target the 1.0950 level. Further down, support sits at the 1.0900. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1150 level with a violation of there opening the door for further gain towards the 1.1200 level. Further up, resistance lies at the 1.1250 level. A cut through that level will clear the way for a move towards the 1.1300 level. All in all, EURUSD expects more weakness in the days ahead.

 

FXTechstrategy Team

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USDJPY Risk Builds Up On 106.97 Resistance Area

USDJPY risk builds up on 106.97 resistance area as it looks to strengthen further in the days ahead. On the upside, resistance comes in at 106.50 level. Above this level will turn attention to the 107.00 level. Further out, we expect a possible move towards the 107.50 level. A cut through here will open the door for more gain towards the 108.00. On the downside, support comes in at the 105.50 level where a break will target the 105.00 level. Below that level will turn focus to the 104.50 level and then lower towards the 104.00 level. On the whole, USDJPY faces further upside pressure.



 

FXTechstrategy Team

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USDCHF Rallies With Risk Building Up Towards 0.9907 Resistance

USDCHF rallies with risk building up towards 0.9907 resistance in the days ahead. Resistance comes in at the 0.9900 level. Above here, resistance stands at the 0.9950 level and then the 1.0000 level. Further out, resistance stands at the 1.0050 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9800 level with a turn below here opening the door for more decline towards the 0.9750 level. And then the 0.9700 level. Further down, support comes in at the 0.9650 level. All in all, USDCHF remains biased to the upside on price rally



 

FXTechstrategy Team

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2,255 5
GOLD Trades Below Key Support On Correction.

GOLD trades below key support on correction as it remains vulnerable. On the downside, support comes in at the 1,520.00 level where a break will turn attention to the 1,510.00 level. Further down, a cut through here will open the door for a move lower towards the 1,500.00 level. Below here if seen could trigger further downside pressure targeting the 1,490.00 level. Conversely, resistance resides at the 1,540.00 level. Further out, resistance resides at the 1,550.00 level where a break will aim at the 1,560.00 level. A turn above there will expose the 1,570.00 level. Further out, resistance stands at the 1,580.00 level. All in all, GOLD looks to weaken further on corrective pullbacks.



 

FXTechstrategy Team

Senior member
2,255 5
USDCHF Bull Pressure Eyes The 0.9974 Resistance Zone


USDCHF bull pressure eyes the 0.9974 resistance zone in the new week. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9850 level with a turn below here opening the door for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support comes in at the 0.9700 level. All in all, USDCHF remains biased to the upside on further bull pressure.


 

FXTechstrategy Team

Senior member
2,255 5
EURUSD Broader Bias Remains Lower Medium Term

EURUSD broader bias remains lower medium term. This development leaves risk lower in the days ahead. Support comes in at the 1.0950 where a violation will turn risk to the 1.0900 level. A break below here will target the 1.0850 level. Further down, support sits at the 1.0800. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more weakness in the days ahead.


 

FXTechstrategy Team

Senior member
2,255 5
GOLD Faces Pullback Threats On Price Rejection

GOLD faces pullback threats on price rejection as we enter a new week. On the downside, support comes in at the 1,510.00 level where a break will turn attention to the 1,500.00 level. Further down, a cut through here will open the door for a move lower towards the 1,490.00 level. Below here if seen could trigger further downside pressure targeting the 1,480.00 level. Conversely, resistance resides at the 1,530.00 level. Further out, resistance resides at the 1,540.00 level where a break will aim at the 1,550.00 level. A turn above there will expose the 1,560.00 level. Further out, resistance stands at the 1,570.00 level. All in all, GOLD looks to weaken further on corrective pullbacks


 

FXTechstrategy Team

Senior member
2,255 5
GBPUSD Declines On Bear Pressure With Eyes On 1.2014 Zone

GBPUSD declines on bear pressure with eyes on 1.2014 zone in the days ahead. Support lies at 1.2014/00 area with a break below that level turning attention to the 1.1950 level. Further down, support lies at the 1.1900 level where a violation will shift focus to the 1.1850 level. Below here will open the door towards the 1.1800 level. On the upside, resistance is located at the 1.2100 with a break above there allowing for morel strength to build up towards the 1.2150 level. Further out, resistance stands at the 1.2200 level followed by the 1.2250 level. On the whole, GBPUSD retains its downside pressure with eyes on 1.2014/00 area.

 

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