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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2,297 6
AUDUSD Retains Its Broader Downside Bias

AUDUSD threatens further downside pressure as it sold off on Tuesday. On the downside, support 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 0.6750 level where a breach will aim at the 0.6800 level. Below here will open the door for a run at the 0.6850 level and then the 0.6900 level. On the whole, AUDUSD faces further downside threats medium term.


 

FXTechstrategy Team

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2,297 6
GBPUSD Rallies On Price Follow Through

GBPUSD rallied on Thursday as it followed through higher on the back of its Wednesday gain. Support lies at 1.2350 area with a break below that level turning attention to the 1.2300 level. Further down, support lies at the 1.2250 level where a violation will shift focus to the 1.2200 level. Below here will open the door towards the 1.2150 level. On the upside, resistance is located at the 1.2450 with a break above there allowing for morel strength to build up towards the 1.2500 level. Further out, resistance stands at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD retains its corrective upside pressure.


 

FXTechstrategy Team

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2,297 6
NZDUSD Remains On The Offensive On Recovery Pressure

NZDUSD the pair faces further corrective recovery as it closed higher the past week. Support lies at the 0.6250 level where a break will turn attention to the 0.6200 level. A break of here will have to happen to create scope for a move higher towards the 0.6150 level. Further out, resistance resides at the 0.6100 level. Resistance stands at the 0.6350 level. Further down, the 0.6400 level comes in as the next downside target and then the 0.6450 level. All in all, NZDUSD faces further recovery threats in the new week.


 

FXTechstrategy Team

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EURUSD Halts Weakness With Upside Pressure Envisaged.

EURUSD with a halt in price occurring on Friday, more strength is expected in the new week. 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 1.1000 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 gain in the days ahead.


 

FXTechstrategy Team

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2,297 6
GOLD Prepares For Further Upside Pressure

GOLD eyes further recovery pressure as it closed higher the past week. On the downside, support sits at the 1,500.00 level where a break will turn focus to the 1,490.00 level. Further down, a cut through here will open the door for a move decline towards the 1,480.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,470.00 level. Conversely, resistance resides at the 1,520.00 level. Further out, resistance resides at the 1,530.00 level where a break will aim at the 1,540.00 level. A turn above there will expose the 1,550.00 level. Further out, resistance stands at the 1,560.00 level. All in all, GOLD looks to correct further higher.

 

FXTechstrategy Team

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2,297 6
CRUDE OIL: Bounces Off Major Support On Recovery

CRUDE OIL faces risk of further corrective upside pressure after bouncing off its key support at 50.50 the past week. Support lies at the 53.50 level where a break will expose the 53.00 level. A cut through here will set the stage for a run at the 52.50 level. Further down, support comes in at the 52.00. On the upside, resistance resides at the 54.50 levels. Further out, resistance comes in at the 55.00 level. A break above here will aim at the 55.50 level and then the 56.00 level followed by the 56.50 level. All in all, CRUDE OIL remains vulnerable nearer term.

 

FXTechstrategy Team

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2,297 6
GBPJPY Sees Price Reversal On Sell Off

GBPJPY looks to weaken further on price sell off as it retains its broader medium term weakness. On the downside, support comes in at the 130.50 level where a violation will aim at the 130.00 level. A break below here will target the 129.50 level followed by the 129.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 131.00 level followed by the 131.50 level. A cut through that level will set the stage for a move further higher towards the 132.00 level. Further out, resistance resides at the 132.50 level. All in all, GBPJPY remains biased to the downside on further price weakness.

 

FXTechstrategy Team

Senior member
2,297 6
USDCAD Broader Bias Remains Higher Towards 1.3383 Zone

USDCAD broader bias remains higher towards 1.3383 zone. Support lies at the 1.3300 level where a violation will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3150 level. Conversely, resistance stands at the 1.3350 level where a break will target the 1.3400 level. Further up, resistance resides at the 1.3450 level and then the 1.3500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCAD looks to strengthen further.

 

FXTechstrategy Team

Senior member
2,297 6
USDCHF Remains Biased To The Upside Towards 1.0027 Zone

USDCHF with the pair retaining its upside pressure, more gain is expected to happen in the new week. Resistance comes in at the 1.0027 level. Above here, resistance lies at the 1.0050 level and then the 1.0100 level. Further out, resistance stands at the 1.0150 level. On the downside, support is located at the 0.9900 level with a turn below here opening the door for more decline towards the 0.9850 level. And then the 0.9800 level. Further down, support comes in at the 0.9750 level. All in all, USDCHF remains biased to the upside in the days ahead.

 

FXTechstrategy Team

Senior member
2,297 6
EURUSD Targets Further Upside Pressure With Eyes On 1.1109 Zone

EURUSD eyes further upside pressure following its second week of strength the past week. 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 gain in the days ahead.


 

FXTechstrategy Team

Senior member
2,297 6
GBPUSD Sees Price Extension With Eyes On 1.2900 Zone

GBPUSD with the pair extending its strength, more price gain is expected in the days ahead. Support lies at 1.2800 area with a break below that level turning attention to the 1.2750 level. Further down, support lies at the 1.2700 level where a violation will shift focus to the 1.2650 level. Below here will open the door towards the 1.2600 level. On the upside, resistance is located at the 1.2900 with a break above there allowing for morel strength to build up towards the 1.2950 level. Further out, resistance stands at the 1.3000 level followed by the 1.3050 level. On the whole, GBPUSD retains its upside pressure as it eyes further strength.


 

FXTechstrategy Team

Senior member
2,297 6
AUDUSD Further Price Offensive Eyes 0.6894 Zone

AUDUSD is threatening further upside pressure following its strong rally on Thursday. On the downside, support lies at the 1.6800 level. A cut through here will turn focus to the 0.6750 level and then the 0.6700 level where a violation will set the stage for a retarget of the 0.6650 level. Conversely, resistance lies at the 0.6850 level where a breach will aim at the 0.6900 level. Below here will open the door for a run at the 0.6950 level and then the 0.7000 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, AUDUSD faces further upside threats on correction.


 

FXTechstrategy Team

Senior member
2,297 6
EURUSD More Price Strength Envisaged

EURUSD with the pair retaining its recovery threats after closing higher the past week, more gain is expected. Support comes in at the 1.1100 where a break will turn risk to the 1.1050 level. A breach below here will target the 1.1000 level. Further down, support stands 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. All in all, EURUSD expects more gain in the days ahead


 

FXTechstrategy Team

Senior member
2,297 6
USDCAD Remains Vulnerable On Price Extension.

USDCAD remains vulnerable to the downside as it closed further lower on Monday. Support lies at the 1.3050 level where a break will aim at the 1.3000 level. Further down, support comes in at the 1.2950 level where a break lower may occur. This if seen will trigger further weakness towards the 1.2900 level. Its daily RSI bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.3150 level where a break will target the 1.3200 level. Further up, resistance resides at the 1.3250 level and then the 1.3300 level. All in all, USDCAD looks to weaken further on further decline.


 

FXTechstrategy Team

Senior member
2,297 6
USDJPY Retains Its Broader Uptrend

USDJPY the pair may be hesitating but still retains its broader upside pressure. On the upside, resistance comes in at 109.00 level. Above this level will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level on a break of that area, A cut through here will open the door for more gain towards the 110.50. Its daily RSI is bullish and pointing higher suggesting more strength. On the downside, support lies at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further upside pressure in the days ahead but with caution.

 

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