FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

EURUSD: Broader Bearishness Remains In Force (Weekly Technical Outlook)

EURUSD: With EUR weakening to close the week lower on Friday, risk remains lower as it enters the new week. Despite its Friday recovery higher seen on the daily chart, its broader medium term risk points lower. This leaves downside risk towards the 1.2286 level where a violation will pave the way for a run at its key support located at the 1.2149 level. Its weekly RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to break and hold above the 1.2620 level and the 1.2824 level to annul its present downside and bring further upside gain towards the 1.3000 level. Further out, resistance resides at its April 14’2012 high at 1.3146. All in all, EUR remains biased to the downside medium term

 

[FXTechstrategy Team]

GBPJPY: Broader Downtrend Remains Lower Despite Price Hesitation

GBPJPY – Having continued to maintain its broader downside bias, further declines are likely to occur despite its current price hesitation. In such a case, support lies at the 119.57 level with a cut through there allowing for more declines towards the 118. 78 level, its Friday low. The cross requires a decisive break and hold below here to resume its weakness towards the 117.35 level where a penetration will pave the way for more declines towards the 116.78 level, its Sept 2011 low. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, a return above the 121.02 level must occur to trigger a convincing recovery where a violation will call for a move higher towards the 122.47 level and then the 124.96 level. All in all, the cross remains biased to the downside medium term.

 

[FXTechstrategy Team]

USDCHF –Halts Declines, Looks To Resume Its Uptrend.

USDCHF: With USDCHF halting its two-day corrective pullbacks and turning higher in early trading today, risk of a return to the 0.9768 level could be developing. Above here will call for a run at the 0.9850 level and possibly higher towards the 0.9944 level, its 200 weekly ema. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9591 level where a reversal of roles as support is expected. However, if this fails, further downside could shape up towards the 0.9400 level and then the 0.9331 level. Another reversal of roles as support is likely to occur here. On the whole, the pair remains biased to the upside in the medium term.

 

[FXTechstrategy Team]

GBPUSD: Recovery Eyes Further Strength.

GBPUSD: With the pair seen reversing its Tuesday marginal weakness on a strong rally, further upside is now expected. In such a case, the 1.5524 level serves as the immediate upside target with a breach aiming at the 1.5601 level and possibly the 1.5714 level. Its daily RSI has turned higher supporting this view. The alternative scenario will be for the pair to reverse its strength and return to the 1.5266 level. A breach will call for a run at the 1.5235 level as the next downside objective where a violation will call for a run at its July 18’2010 low located at the 1.5122 level and then the 1.4947 level, its July 11’2010 low. On the whole, the pair continues to hold on to its broader downside pressure though seen recovering.

 

[rsh01]

Re: EURUSD: Broader Bearishness Remains In Force (Weekly Technical Outlook)

EURUSD: With EUR weakening to close the week lower on Friday, risk remains lower as it enters the new week. Despite its Friday recovery higher seen on the daily chart, its broader medium term risk points lower. This leaves downside risk towards the 1.2286 level where a violation will pave the way for a run at its key support located at the 1.2149 level. Its weekly RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to break and hold above the 1.2620 level and the 1.2824 level to annul its present downside and bring further upside gain towards the 1.3000 level. Further out, resistance resides at its April 14’2012 high at 1.3146. All in all, EUR remains biased to the downside medium term

So your marketing strategy is to clog up fx pages of trading forums by telling us what your hindsighgt indicators are suggesting, which in reality tells us sweet fa.

However if you think this info is useful why don't you trade using it, provide some live calls and hey presto you won't have to control +v all over the web anymore. Simples.

 

[Nigel-P]

Re: EURUSD: Broader Bearishness Remains In Force (Weekly Technical Outlook)

So your marketing strategy is to clog up fx pages of trading forums by telling us what your hindsighgt indicators are suggesting, which in reality tells us sweet fa.

However if you think this info is useful why don't you trade using it, provide some live calls and hey presto you won't have to control +v all over the web anymore. Simples.

I agree. I've raised this before with them but they didn't respond. They could have the courtesy and manners to keep all their posts in one thread but that obviously doesn't fit with the marketing strategy. When you come on here there is regularly 8 or 9 threads on the first page all with the same awful useless rubbish.

 

[FXTechstrategy Team]

EURUSD: Recovery Risks Build Up.

EURUSD: After reversing its Tuesday weakness on a rally on Wednesday, risk of further corrective recovery is likely. This leaves the immediate resistance at the 1.2622 level, its May 28’2012 high. A decisive clearance of here will call for move higher towards the 1.2733 level, its Jan 18’2011 low and then the 1.2824 level. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, the risk to this analysis will be a return to the 1.2408 level, its Jun 05’2012 low. A cut through here will pave the way for a move lower towards the 1.2286 level. Further down, support lies at the 1.2149 level. The pair could turn higher on testing this level but if that breaks, further declines could shape up towards the 1.2100 level. All in all, EUR remains biased to the downside medium term though facing recovery risks.

 

[rsh01]

Re: EURUSD: Broader Bearishness Remains In Force (Weekly Technical Outlook)

I agree. I've raised this before with them but they didn't respond. They could have the courtesy and manners to keep all their posts in one thread but that obviously doesn't fit with the marketing strategy. When you come on here there is regularly 8 or 9 threads on the first page all with the same awful useless rubbish.

Indeed its nonsense, and they have gone and opened up another EU thread - because this one now is defunct hindsight reporting. There are often some decent threads pushed to page 2 cos if this junk, and no doubt ppl are missing them if they only visit these forums for short periods.

Now I know why the report button is useless. Vendors rule.

 

[rsh01]

Re: EURUSD: Recovery Risks Build Up.

Its daily RSI is bullish and pointing higher supporting this view.

All in all, EUR remains biased to the downside medium term though facing recovery risks.

Its daily rsi is bullish cos the market went up, but all in all in the medium term it cld go down....or it cld go up.

F genius.

 

[FXTechstrategy Team]

AUDUSD: Collapses, Set To Weaken Further.

AUDUSD: With a shooting star candle (top reversal signal) formed and a follow through lower seen, there is risk of further declines in the days ahead. In such a case, the 0.9735 level will be targeted where a violation will call for a run at the 0.9584 level. A breach will pave the way for a move further lower towards the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be for AUDUSD to return above the 1.0001 level where a violation will call for a run at the 1.0050 level where a break will call for a run at the 1.0143 level. Further out, resistance resides at the 1.0216 level . All in all, the pair remains biased to the downside having ended its corrective recovery.

 

[FXTechstrategy Team]

USDCHF – Loses Upside Momentum (The Week Ahead)

USDCHF: Although USDCHF has closed lower the past week on corrective pullbacks, it continues to hold on to its broader medium term uptrend. However, it will require a return above the 0.9768 level, its Jun’2012 high to ward off the bears. This if seen will pave the way for a run at the 0.9850 level where a violation could push the pair further higher towards the 0.9944 level, its 200 weekly ema. The alternative scenario will be the pair to decline towards the 0.9512 level, its Jun 07’2012 low where a break will resume its corrective weakness. Further down, support stands at the 0.9400 level and subsequently the 0.9331 level. On the whole, the pair remains biased to the upside in the medium term though facing corrective pullback risks.

 

[FXTechstrategy Team]

EURUSD: Recovering But Susceptible (Weekly Technical Outlook)

EURUSD: While EUR may have halted its broader weakness and closed higher the past week, it continues to hold its medium term downside bias. This suggests that on any failed recovery, the pair should return to the 1.2286 level where a violation will call for a run at the 1.2149 level. The pair could turn higher on testing and holding at this level but if that breaks, further declines could shape up towards the 1.2100 level. On the upside, to resume its recovery it will have to break and hold above the 1.2622 level, its May 28’2012 high. This will clear the way for a run at the 1.2733 level, its Jan 18’2011 low. All in all, EUR remains biased to the downside medium term though facing recovery risks.

 

[FXTechstrategy Team]

USDJPY: Recovery Intact Despite Price Hesitation (Daily Technical Strategist)

USDJPY: Although USDJPY is now seen backing off higher prices, its nearer term outlook remains corrective. Its bullish weekly close the past week is consistent with this view. However, it will have to return above 79.78 level printed on Jun 07’2012 to resume its correction towards the 80.51 level with a cut through there targeting its April 04’2012 high at 81.85. Above here will create further upside scope towards the 82.53 level. On the downside, a return below its key support standing at the 77.66 level will have to occur to reverse its recovery risks and then open the door for a move lower towards the 76.49 level. Below here will expose the 76.00 level. All in all, USDJPY continues to hold on to its recovery risks though susceptible to the downside medium term

 

[FXTechstrategy Team]

GOLD: Price Hesitation Sets In, Retains Its Broader Medium Term Downside Bias

GOLD: GOLD may have halted its weakness on Friday, printing a rejection candle to close marginally higher but it continues to hold on to its broader medium downtrend. As long as it continues to trade below its daily 200 ema currently at 1,636 level and its May 01’2012 high at 1,670 level, the above view remains valid for an eventual recapture of the 1,527.05 level. A cut through here will pave the way for further declines towards the 1,500.00 level. Price hesitation could occur here but if that level gives in, expect Gold to decline further towards 1,478.05 level. The alternative scenario will be a return above the 1,635/1,640.45 level. This will pave the way for further correction towards the 1,670.70 level and possibly higher towards the 1,700 level. All in all, Gold continues to hold on to its broader medium term downside bias though facing recovery risks.

 

[FXTechstrategy Team]

GBPJPY: Still Faces Upside Risks

GBPJPY – While upside risk is still seen, GBPJPY must break and hold above the 124.32 level to trigger its recovery. Above here will aim at the 125.50 level and possibly higher. Its daily RSI is bearish and pointing higher suggesting further upside. On the downside, support lies at 121.89 level where a break will call for a run at the 120.00 level. Further down, support lies at its Jun’2012 low at 118.78 level followed by the 118.29 level and then the 117.26 level. All in all, the cross continues to hold on to recovery tone.

 

[FXTechstrategy Team]

EURUSD: Continues To Hesitate, Vulnerable To The Downside Medium Term

EURUSD: As long as EUR holds below the 1.2620/68 levels, the risk remains lower towards the 1.2408 level, its Jun 05’2012 low. A cut through here will pave the way for a move lower towards the 1.2286 level. Further down, support lies at the 1.2149 level. The pair could turn higher on testing this level but if that breaks, further declines could shape up towards the 1.2100 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return to the 1.2620 and the 1.2622 level, its May 28’2012 high to reverse its present weakness. A decisive clearance of here will call for a move higher towards the 1.2733 level, its Jan 18’2011 low and then the 1.2824 level. All in all, EUR remains biased to the downside medium term though facing price hesitation.

 

[FXTechstrategy Team]

GBPJPY: Consolidates

GBPJPY – Although seen turning off ahead of the 124.32 level on Wednesday to close lower, it continues to retain most of corrective recovery gains. As long as it continues to hold above the 121.89 level, the risk is for it to return to the 124.32 level. Above here will aim at the 125.50 level and possibly higher. Its daily RSI is bearish and pointing higher suggesting further upside. On the downside, support lies at 121.89 level where a break will call for a run at the 120.00 level. Further down, support lies at its Jun’2012 low at 118.78 level followed by the 118.29 level and then the 117.26 level. All in all, the cross continues to hold on to recovery tone.

 

[FXTechstrategy Team]

EURUSD: Vulnerable Below The 1.2668 Level.

EURUSD: While EUR may be slightly biased to the upside, it now sees price hesitation putting its upside on hold. As long as the pair holds below the 1.2620/68 levels, the risk remains lower towards the 1.2408 level, its Jun 05’2012 low. A cut through here will pave the way for a move lower towards the 1.2286 level. Further down, support lies at the 1.2149 level. The pair could turn higher on testing this level but if that breaks, further declines could shape up towards the 1.2100 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return to the 1.2620 and the 1.2622 level, its May 28’2012 high to reverse its present weakness. A decisive clearance of here will call for a move higher towards the 1.2733 level, its Jan 18’2011 low and then the 1.2824 level. All in all, EUR remains biased to the downside medium term though facing price hesitation.

 

[FXTechstrategy Team]

USDCHF –Vulnerable On Corrective Pullback (Weekly Technical Analysis)

USDCHF: Although the pair continues to face downside threats, its broader medium term bias still points higher. As long as the pair continues to trade above the 0.9366/34 levels, the above view remains valid. With that said, USDCHF faces the risk of eventually returning to the 0.9768 level on ending its present price hesitation. Above here will open the door for a run at the 0.9850 level and possibly extending towards the 0.9944 level, its 200 weekly ema. The alternative scenario will be for the pair to return to the 0.9512 level and the 0.94 where a break will aim at the 0.9400 level and then the 0.9331 level. On the whole, the pair remains biased to the upside in the medium term.

 

[FXTechstrategy Team]

EURUSD: Corrective Recovery Threats Seen.

EURUSD: The pair continues to face recovery threats as EUR looks to strengthen further in the new week. However, it will have to break and hold above the 1.2687 level to open the door for further upside. In such a case, the 1.2733 level, its Jan 18’2011 low will be targeted where a violation will aim at the 12824 level. Its weekly RSI is bullish and pointing higher suggesting further strength. The alternative scenario will be for the pair to return to the 1.2286 level where a violation will call for a run at the 1.2149 level. EUR could turn higher on testing and holding at this level but if that breaks, further declines could shape up towards the 1.2100 level. All in all, EUR remains biased to the downside medium term though facing recovery risks.