FXTechstrategy Team: Forex Analysis

What does January holds for EURUSD having continued to hold its medium term downtrend


  • Total voters
    4
  • Poll closed .

FXTechstrategy Team

Senior member
2,301 6
NZDUSD Looks To Build Up On Correction

NZDUSD the pair faces further downside pressure as it looks to weaken further lower. Support lies at the 0.6300 level where a break will turn attention to the 0.6250 level. A break of here will have to happen to create scope for a move higher towards the 0.6200 level. Further out, support resides at the 0.6450 level. Conversely, resistance stands at the 0.6400 level. Further down, the 0.6450 level comes in as the next downside target and then the 0.6500 level. All in all, NZDUSD faces further downside threats.


 

FXTechstrategy Team

Senior member
2,301 6
EURUSD Looks To Weaken Further On Bearish Pressure

EURUSD with the pair closing lower the past week, more decline is expected. Support comes in at the 1.1050 where a break will turn risk to the 1.1000 level. A breach below here will target the 1.0950 level. Further down, support stands at the 1.0900. 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


 
  • Like
Reactions: 0FXTrader0

FXTechstrategy Team

Senior member
2,301 6
EURGBP Faces Risk Of More Price Weakness

EURGBP faces further bear threats as it looks to extend its broader medium term downtrend in the days ahead. On the downside, support stands at the 0.8600 level where a violation will turn focus to the 0.8550 level. A break below here will aim at the 0.8500 level. Its daily RSI is bearish and pointing lower suggesting more decline. Conversely, resistance lies at the 0.8650 level. A violation if seen will turn risk towards the 0.8700 level. Further up, resistance comes in at 0.8800 level followed by the 0.8850 level. All in all, EURGBP remains biased to the downside on further bear threats.


 

FXTechstrategy Team

Senior member
2,301 6
USDCHF Looks To Pullback Further Nearer Term

USDCHF with the pair following through lower on the back of its Tuesday price rejection, more weakness is envisaged. 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 daily RSI is bearish and pointing lower suggesting further weakness. 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 downside nearer term but with caution.


 

FXTechstrategy Team

Senior member
2,301 6
USDJPY Continues To Retain Its Pullback Threats.

USDJPY the pair rejected higher prices to sell off on Thursday opening the door for more weakness. 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 in the days ahead


 

FXTechstrategy Team

Senior member
2,301 6
USDCHF Extends Weakness, Eyes The 0.9840 Zone

USDCHF with the pair seen extending its losses on Friday, more decline is expected in the days ahead. Resistance comes in at the 0.9900 level. Above here, resistance lies at the 0.9950 level and then the 1.0000 level. Further out, resistance stands at the 1.0050 level. Its daily RSI is bearish and pointing lower suggesting further weakness. 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 downside nearer term.

 

FXTechstrategy Team

Senior member
2,301 6
NZDUSD Faces Further Corrective Pullback Threats

NZDUSD the pair closed lower on Monday opening the door for more decline. Support lies at the 0.6350 level where a break will turn attention to the 0.6300 level. A break of here will have to happen to create scope for a move higher towards the 0.6250 level. Further out, resistance resides at the 0.6200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 0.6450 level. Further down, the 0.6500 level comes in as the next downside target and then the 0.6550 level. All in all, NZDUSD faces further downside threats.







This is an excerpt fromFXT Technical Strategist Plus(PRO Plan Package), a 7-currency model analysis and trade alerts utilized by all levels of traders with trade alerts.See Pricing and Get Started
 

FXTechstrategy Team

Senior member
2,301 6
USDJPY Sees Price Follow Through On Strength

USDJPY faces further bull pressure as it extended its gain on Tuesday. On the upside, resistance comes in at 109.50 level. Above this level will turn attention to the 110.00 level. Further out, we expect a possible move towards the 110.50 level on a break of that area, A cut through here will open the door for more gain towards the 111.00.Its daily RSI suggesting further upside pressure. On the downside, support lies at the 109.00 level where a break will target the 109.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 107.50 level. On the whole, USDJPY faces further upside pressure in the days ahead but with caution.


 

FXTechstrategy Team

Senior member
2,301 6
GBPUSD Faces Further Corrective Downside Pressure

GBPUSD looks to weaken further as it retains its pullback threats. Support lies at 1.2800 area with a break below that level turning focus to the 1.2750 level. Further down, support comes in 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. Its daily RSI is bearish and pointing lower suggesting further weakness. 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 downside pressure on correction.


 

FXTechstrategy Team

Senior member
2,301 6
USDCHF Remains On The Offensive With Eyes On 1.0027 Level

USDCHF remains on the offensive with eyes on 1.0027 resistance zone. Resistance comes in at the 1.0050 level. Above here, resistance lies at the 1.0100 level and then the 1.0150 level. Further out, resistance stands at the 1.0200 level. On the downside, support comes in at the 0.9950 level with a turn below here opening the door for a move towards the 0.9800 level. And then followed by the 0.9750 level. Further down, support resides at the 0.9700 level. Its weekly RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF remains biased to the upside nearer term.

 

FXTechstrategy Team

Senior member
2,301 6
EURUSD with the pair reversing its upside pressure to close lower the past week, more decline is expected in the days ahead. Resistance comes in at the 1.1050 where a break will turn risk to the 1.1100 level. A breach below here will target the 1.1150 level. Further up, resistance stands at the 1.1200. Conversely, on the downside, support comes in at 1.1000 level with a violation of there opening the door for further gain towards the 1.0950 level. Further up, resistance lies at the 1.0900 level. A cut through that level will clear the way for a move towards the 1.0850 level. All in all, EURUSD expects more weakness in the days ahead

 

FXTechstrategy Team

Senior member
2,301 6
USDCAD Outlook Remains Higher In The Short Term

USDCAD remains biased to the upside on further recovery pressure in the short term. Support lies at the 1.3150 level where a break will aim at the 1.3100 level. Further down, support comes in at the 1.3050 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3200 level where a break will target the 1.3250 level. Further up, resistance resides at the 1.3300 level and then the 1.3350 level. All in all, USDCAD looks to weaken further on further strength.

 

FXTechstrategy Team

Senior member
2,301 6
GOLD Broader Bias Remains To The Downside Short Term.

GOLD faces risk of more weakness in the days ahead as it retains its downside pressure. On the downside, support sits at the 1,340.00 level where a break will turn focus to the 1,430.00 level. Further down, a cut through here will open the door for a move decline towards the 1,420.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,410.00 level. Conversely, resistance resides at the 1,460.00 level. Further out, resistance resides at the 1,470.00 level where a break will aim at the 1,480.00 level. A turn above there will expose the 1,490.00 level. Further out, resistance stands at the 1,500.00 level. All in all, GOLD looks to correct further lower.

 

FXTechstrategy Team

Senior member
2,301 6
EURJPY More Weakness Envisaged On Bear Pressure

EURJPY faces further downside pressure as it continues to retain corrective pullback threats. On the downside, support comes in at the 119.50 level where a break if seen will aim at the 119.00 level. A cut through here will turn focus to the 118.50 level and possibly lower towards the 118.00 level. On the upside, resistance resides at the 120.50 level. Further out, we envisage a possible move towards the 121.00 level. Further out, resistance resides at the 121.50 level with a turn above here aiming at the 122.00 level. On the whole, EURJPY continues to retain its downside pressure.




This is an excerpt fromFXT Technical Strategist Plus(PRO Plan Package), a 7-currency model analysis and trade alerts utilized by all levels of traders with trade alerts.See Pricing and Get Started
 

FXTechstrategy Team

Senior member
2,301 6
USDCHF Continues To Face Consolidation Threats

USDCHF with the pair continuing to retain its consolidation threats, directional move is now a challenge. 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. 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 nearer term but consolidation threats.

 

Similar threads


AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock