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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AUDUSD Faces Recovery Threats On Lower Price Rejection

AUDUSD faces recovery threats on lower price rejection ahead of its key support. On the upside, resistance lies at the 1.6750 level. A cut through here will turn focus to the 0.6800 level and then the 0.6900 level where a violation will set the stage for a retarget of the 0.6850 level. Support lies at the 0.6700 level where a breach will aim at the 0.6650 level. Below here will open the door for a run at the 0.6600 level and then the 0.6550 level. On the whole, AUDUSD faces further upside threats on recovery.


 

FXTechstrategy Team

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EURUSD Rallies Strongly With Eyes On 1.1051 Area

EURUSD rallies strongly with eyes on 1.1051 area as it looks for more recovery. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. 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. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD expects more recovery in the days ahead.

 

FXTechstrategy Team

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GOLD Sets Up To Trigger Long Term Uptrend

GOLD sets up to trigger long term uptrend as it closing further higher on Wednesday. On the downside, support sits at the 1,540.00 level where a break will turn focus to the 1,530.00 level. Further down, a cut through here will open the door for a move decline towards the 1,520.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,510.00 level. Conversely, resistance resides at the 1,560.00 level. Further out, resistance resides at the 1,570.00 level where a break will aim at the 1,580.00 level. A turn above there will expose the 1,590.00 level. Further out, resistance stands at the 1,600.00 level. All in all, GOLD looks to strengthen further on bull pressure.

 

FXTechstrategy Team

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GBPJPY Follows Through Higher On Price Extension

GBPJPY extended its strength on Thursday following its rally on Wednesday. On the downside, support comes in at the 131.50 level where a violation will aim at the 131.00 level. A break below here will target the 130.50 level followed by the 130.00 level. Conversely, resistance is seen at the 132.50 level followed by the 133.00 level. A cut through that level will set the stage for a move further higher towards the 133.50 level. Further out, resistance resides at the 134.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY remains biased to the upside on further recovery pressure.

 

FXTechstrategy Team

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NZDUSD Extends Gain On Strong Rally

NZDUSD extends gain on strong rally as it retains its corrective recovery. Resistance comes in at the 0.6450 level where a break will turn attention to the 0.6500 level. A break of here will have to happen to create scope for a move higher towards the 0.6550 level. Further out, resistance resides at the 0.6600 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Support stands at the 0.6400 level. Further down, the 0.6350 level comes in as the next downside target and then the 0.6300 level. All in all, NZDUSD faces further upside in the days ahead.

 

FXTechstrategy Team

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USDCHF Looks To Extend Its Short Term Recovery Pressure

USDCHF looks to extend its short term recovery pressure. 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 price extension


 

FXTechstrategy Team

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EURUSD Continues To Retain Its Broader Downside Pressure

EURUSD continues to retain its broader downside pressure as it holds on ti its broader medium term weakness. Support comes in at the 1.1000 where a break will turn risk to the 1.0950 level. A breach below here will target the 1.0900 level. Further down, support stands at the 1.0850. 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

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2,278 5
GOLD Targets Further Weakness With Eyes On 1,479.89 Level

GOLD targets further weakness with eyes on 1,479.89 level following its two-day declines. On the downside, support sits at the 1,490.00 level where a break will turn focus to the 1,480.00 level. Further down, a cut through here will open the door for a move decline towards the 1,470.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,460.00 level. Conversely, resistance resides at the 1,510.00 level. Further out, resistance resides at the 1,520.00 level where a break will aim at the 1,530.00 level. A turn above there will expose the 1,540.00 level. Further out, resistance stands at the 1,550.00 level. All in all, GOLD looks to weaken further on corrective pullback pressure.


 

FXTechstrategy Team

Senior member
2,278 5
GBPUSD Resumes Its Corrective Recovery Strength

GBPUSD resumes its corrective recovery strength with eyes on the 1.2459 level. Support lies at 1.2300 area with a break below that level turning attention to the 1.2250 level. Further down, support lies at the 1.2200 level where a violation will shift focus to the 1.2150 level. Below here will open the door towards the 1.2100 level. On the upside, resistance is located at the 1.2400 with a break above there allowing for morel strength to build up towards the 1.2459 level. Further out, resistance stands at the 1.2517 level followed by the 1.2558 level. On the whole, GBPUSD retains its upside pressure on further corrective recovery.


 

FXTechstrategy Team

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2,278 5
CRUDE OIL: Price Build Up Targets The 58.79 Resistance Zone

CRUDE OIL price build up targets the 58.79 resistance zone as it retains its strength. Support lies at the 57.50 level where a break will expose the 57.00 level. A cut through here will set the stage for a run at the 56.50 level. Further down, support comes in at the 56.00. On the upside, resistance resides at the 58.50 levels. Further out, resistance comes in at the 59.00 level. A break above here will aim at the 59.50 level and then the 60.00 level followed by the 60.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains on further recovery threats.

 

FXTechstrategy Team

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2,278 5
USDJPY Looks To Extend Recovery Towards 107.93 Zone

USDJPY looks to extend recovery towards 107.93 zone in the days ahead. On the upside, resistance comes in at 107.93 level. Above this level will turn attention to the 108.50 level. Further out, we expect a possible move towards the 109.00 level. A cut through here will open the door for more gain towards the 109.50. On the downside, support lies at the 107.00 level where a break will target the 106.50 level. Below that level will turn focus to the 106.00 level and then lower towards the 105.50 level. On the whole, USDJPY faces further upside pressure in the days ahead.

 

FXTechstrategy Team

Senior member
2,278 5
EURUSD Declines Strongly On Price Sell-off

EURUSD declines strongly on price sell off with more weakness expected in the days ahead. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. Conversely, on the upside, resistance comes in at 1.1050 level wit h 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
2,278 5
EURJPY Rallies On Further Upside Pressure With Eyes On 120.20 Level

EURJPY rallies on further upside pressure with eyes on 120.20 level. On the downside, support resides at the 119.00 level where a break will aim at the 118.50 level. A turn below here will turn focus to the 117.50 level and possibly lower towards the 117.00 level. On the upside, resistance resides at the 120.00 level. Further out, we envisage a possible move towards the 120.50 level. Further out, resistance resides at the 121.00 level with a turn above here aiming at the 121.50. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the whole, EURJPY retains its corrective upside pressure as it looks for more gain.

 

FXTechstrategy Team

Senior member
2,278 5
GBPUSD Rally sets Sights On The 1.2522 Resistance Zone

GBPUSD faces further bull pressure as it sets sights on the 1.2522 resistance zone. Support lies at 1.2400 area with a break below that level turning attention to the 1.2350 level. Further down, support lies at the 1.2300 level where a violation will shift focus to the 1.2250 level. Below here will open the door towards the 1.2200 level. On the upside, resistance is located at the 1.2500 with a break above there allowing for morel strength to build up towards the 1.2550 level. Further out, resistance stands at the 1.2600 level followed by the 1.2650 level. On the whole, GBPUSD retains its upside pressure on further corrective recovery threats.

 

FXTechstrategy Team

Senior member
2,278 5
USDCHF Retains Short Term Upside Bias

USDCHF retains short term upside bias with more gain expected 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 price extension.


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