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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2,294 6
EURUSD Closes Higher On Price Recovery Towards 1.1163

EURUSD faces further upside pressure following its past week higher close. 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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2,294 6
GOLD Remains Vulnerable With Further Decline Expected

GOLD eyes further weakness as it faces more bear pressure in the new week. On the downside, support sits at the 1,480.00 level where a break will turn focus to the 1,470.00 level. Further down, a cut through here will open the door for a move decline towards the 1,460.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,450.00 level. Conversely, resistance resides at the 1,500.00 level. Further out, resistance resides at the 1,510.00 level where a break will aim at the 1,520.00 level. A turn above there will expose the 1,530.00 level. Further out, resistance stands at the 1,540.00 level. All in all, GOLD looks to weaken further on corrective pullback pressure.

 

FXTechstrategy Team

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2,294 6
NZDUSD Risk Remains Lower On More Decline

NZDUSD with the pair closing lower the past week and extending that weakness during Monday trading today, further decline is envisaged. Resistance lies at the 0.6400 level where a break will turn attention to the 0.6450 level. A break of here will have to happen to create scope for a move higher towards the 0.6500 level. Further out, resistance resides at the 0.6550 level. Support stands at the 0.6300 level. Further down, the 0.6250 level comes in as the next downside target and then the 0.6200 level. All in all, NZDUSD risk remains lower on more decline on pullback threats in the days ahead.

 

FXTechstrategy Team

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2,294 6
USDJPY Risk Continues To Point Higher On Further Price Strength

USDJPY risk continues to point higher on further price strength. On the upside, resistance comes in at 108.50 level. Above this level will turn attention to the 109.00 level. Further out, we expect a possible move towards the 109.50 level on a break of that area, A cut through here will open the door for more gain towards the 110.00. On the downside, support lies at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further upside pressure in the days ahead.

 

FXTechstrategy Team

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2,294 6
GBPJPY Looks To Resume Short Term Uptrend

GBPJPY looks to resume short term uptrend as it eyes further upside strength. On the downside, support comes in at the 135.00 level where a violation will aim at the 134.50 level. A break below here will target the 134.00 level followed by the 133.50 level. Conversely, resistance is seen at the 136.00 level followed by the 136.50 level. A cut through that level will set the stage for a move further higher towards the 137.00 level. Further out, resistance resides at the 137.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY remains biased to the upside on further recovery.

 

FXTechstrategy Team

Senior member
2,294 6
GBPUSD Triggers Short Term Uptrend

GBPUSD with the pair resuming its short term uptrend on Thursday, more strength is expected in the days ahead. Support lies at 1.2500 area with a break below that level turning attention to the 1.2450 level. Further down, support lies at the 1.2400 level where a violation will shift focus to the 1.2350 level. Below here will open the door towards the 1.2300 level. On the upside, resistance is located at the 1.2600 with a break above there allowing for morel strength to build up towards the 1.2650 level. Further out, resistance stands at the 1.2700 level followed by the 1.2750 level. On the whole, GBPUSD retains its upside pressure

 

FXTechstrategy Team

Senior member
2,294 6
AUDUSD Threatens Further Weakness Towards The 0.6700 Zone

AUDUSD threatens further weakness towards the 0.6700 level in the new week. On the upside, resistance lies at the 1.6800 level. A cut through here will turn focus to the 0.6850 level and then the 0.6900 level where a violation will set the stage for a retarget of the 0.6950 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 downside threats on more weakness.

 

FXTechstrategy Team

Senior member
2,294 6
GBPUSD Sets Up To Pullback Further On Price Extension

GBPUSD with the pair extending its correction during Monday trading session, further decline is expected in the days ahead. Support comes in 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 downside pressure on correction.


 

FXTechstrategy Team

Senior member
2,294 6
USDJPY Outlook Remains Lower Towards The 106.75 Area

USDJPY outlook remains lower towards the 106.75 area, its key support. On the upside, resistance comes in at 108.00 level. Above this level will turn attention to the 108.50 level. Further out, we expect a possible move towards the 109.00 level on a break of that area, 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 downside pressure.


 

FXTechstrategy Team

Senior member
2,294 6
GBPJPY Targets Further Weakness On Price Decline

GBPJPY looks to weaken further lower as it retains its corrective pressure. On the downside, support comes in at the 132.50 level where a violation will aim at the 132.00 level. A break below here will target the 131.50 level followed by the 131.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 133.50 level followed by the 134.00 level. A cut through that level will set the stage for a move further higher towards the 134.50 level. Further out, resistance resides at the 135.00 level. All in all, GBPJPY remains biased to the downside on further correction.


 

FXTechstrategy Team

Senior member
2,294 6
AUDUSD Risk Remains Lower Towards 0.6700 Support Zone

AUDUSD threatens further downside pressure as it looks to decline further towards the 0.6700 support zone. On the downside, resistance lies at the 1.6650 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level where a violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.6800 level where a breach will aim at the 0.6850 level. Below here will open the door for a run at the 0.6900 level and then the 0.6950 level. On the whole, AUDUSD faces further downside threats




 

FXTechstrategy Team

Senior member
2,294 6
USDJPY Extends Gain With Eyes On The 108.47 Zone

USDJPY looks to strengthen further as more gain is expected towards its key resistance at 108.47. On the upside, resistance comes in at 108.40 level. Above this level will turn attention to the 109.00 level. Further out, we expect a possible move towards the 109.50 level on a break of that area, A cut through here will open the door for more gain towards the 110.00. On the downside, support lies at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further upside pressure on possible trend resumption




 

FXTechstrategy Team

Senior member
2,294 6
USDCHF Consolidates But With Upside Bias

USDCHF with the pair continuing to hesitate directional move is now a challenge. Resistance stands at the 0.9950 level. Above here will open the door for a move towards the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. 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.


 

FXTechstrategy Team

Senior member
2,294 6
EURUSD Retains Its Medium Term Downtrend

EURUSD retains its medium term downtrend as it looks for more weakness in the new week. Support comes in at the 1.0900 where a break will turn risk to the 1.0850 level. A breach below here will target the 1.0800 level. Further down, support stands at the 1.0750. Conversely, on the upside, resistance comes in at 1.1000 level with a violation of there opening the door for further gain towards the 1.1050 level. Further up, resistance lies at the 1.1100 level. A cut through that level will clear the way for a move towards the 1.1150 level. All in all, EURUSD expects more weakness in the days ahead


 

FXTechstrategy Team

Senior member
2,294 6
USDJPY Eyeing Further Upside Pressure

USDJPY eyes further upside pressure on corrective recovery as it closed higher on Monday. On the upside, resistance comes in at 108.50 level. Above this level will turn attention to the 109.00 level. Further out, we expect a possible move towards the 109.50 level on a break of that area, A cut through here will open the door for more gain towards the 110.00. On the downside, support lies at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further downside pressure.


 

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