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Daily Technical Strategy On Currencies & Commodities

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  • EURJPY: Continues To Retain Upside Pressure

    EURJPY: The pair retains its broader uptrend though seeing price hesitation. Support comes in at the 130.00 level where a break if seen will aim at the 129.50 level. A cut through here will turn focus to the 129.00 level and possibly lower towards the 128.50 level. On the upside, resistance resides at the 130.50 level. Further out, we envisage a possible move towards the 131.00 level. Further out, resistance resides at the 131.50 level with a turn above here aiming at the 132.00 level. On the whole, EURJPY faces further upside threats but with caution.

    Comment


    • EURUSD: Vulnerable, Faces Further Downside Pressure

      EURUSD: The pair looks to extend its weakness after selling off on Wednesday. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further upside pressure but with caution of a recovery.

      Comment


      • EURUSD: Faces Further Downside Pressure But With Caution

        EURUSD: The pair looks to extend its weakness after selling off on Wednesday. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further upside pressure but with caution of a recovery.

        Comment


        • GBPUSD: Looks To Correct Further Higher

          GBPUSD: The pair faces further upside pressure following its higher close on Friday and during early trading today. Support lies at the 1.3250 level where a break will turn attention to the 1.3200 level. Further down, support lies at the 1.3150 level. Below here will set the stage for more weakness towards the 1.3100 level. Conversely, resistance stands at the 1.3300 levels with a turn above here allowing more strength to build up towards the 1.3350 level. Further out, resistance resides at the 1.3400 level followed by the 1.3450 level. On the whole, GBPUSD remains biased to upside on correction.

          Comment


          • EURJPY: Eyes Further Bullishness In The Short Term

            EURJPY: The pair continues to retain its broader uptrend as it looks to extend that upside pressure. Support comes in at the 131.00 level where a break if seen will aim at the 130.50 level. A cut through here will turn focus to the 130.00 level and possibly lower towards the 129.50 level. On the upside, resistance resides at the 132.00 level. Further out, we envisage a possible move towards the 132.50 level. Further out, resistance resides at the 133.00 level with a turn above here aiming at the 133.50 level. On the whole, EURJPY faces further upside threats.

            Comment


            • EURUSD: Remains Vulnerable, Eyes More Weakness

              EURUSD: The pair looks to extend its weakness as it continues to press lower. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further downside pressure.

              Comment


              • USDJPY: Pulls Back, Weakens

                USDJPY: The pair remains biased to the downside on further corrective weakness. On the downside, support lies at the 112.00 level where a break if seen will aim at the 111.50 level. A cut through here will turn focus to the 111.00 level and possibly lower towards the 110.50 level. On the upside, resistance resides at the 113.00 level. Further out, we envisage a possible move towards the 113.50 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. On the whole, USDJPY faces further downside pressure

                Comment


                • EURUSD: Backs Off Lower Prices, Eyes More Strength

                  EURUSD: The pair looks to extend its recovery triggered the past week in the new week. On the upside, resistance comes in at 1.1750 level with a cut through here opening the door for more upside towards the 1.1800 level. Further up, resistance lies at the 1.1850 level where a break will expose the 1.1900 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD faces further upside pressure.

                  Comment


                  • USDJPY: Rejects Lower Prices, Looks To Recover Higher

                    USDJPY: The pair rejected lower prices to close flat on Monday leaving risk of a move higher on the cards. On the downside, support lies at the 111.00 level where a break if seen will aim at the 110.50 level. A cut through here will turn focus to the 110.00 level and possibly lower towards the 109.50 level. On the upside, resistance resides at the 112.00 level. Further out, we envisage a possible move towards the 112.50 level. Further out, resistance resides at the 113.00 level with a turn above here aiming at the 113.50 level. On the whole, USDJPY faces further downside pressure.

                    Comment


                    • GBPUSD: Bullish, Eyes Further Corrective Upside

                      GBPUSD: The pair continues to retain its upside pressure leaving risk of more strength on the cards in the days ahead. Support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD remains biased to upside on correction.

                      Comment


                      • EURUSD: Eyes Further Upside Pressure

                        EURUSD: The pair looks to recovery higher on correction though facing consolidation threats. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further upside pressure.

                        Comment


                        • USDCHF: Bearish, Targets Further Weakness

                          USDCHF: The pair saw a price weakness during early trading on Monday opening the door for more correction. On the downside, support lies at the 0.9900 level. A turn below here will open the door for more weakness towards the 0.9850 level and then the 0.9800 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0100. All in all, USDCHF faces further downside pressure

                          Comment


                          • EURJPY: Triggers Further Upside Pressure

                            EURJPY: The pair continues to retain its upside pressure rallying strongly on Tuesday and opening the door for more fain. Support comes in at the 130.50 level where a break if seen will aim at the 130.00 level. A cut through here will turn focus to the 129.50 level and possibly lower towards the 129.00 level. On the upside, resistance resides at the 131.00 level. Further out, we envisage a possible move towards the 131.50 level. Further out, resistance resides at the 132.00 level with a turn above here aiming at the 132.50 level. On the whole, EURJPY faces further upside threats.

                            Comment


                            • EURUSD: Bearish, Retains Downside Pressure

                              EURUSD: The pair looks to weaken further as it holds on to its downside pressure. On the upside, resistance comes in at 1.1600 level with a cut through here opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1500 level where a violation will aim at the 1.1450 level. A break of here will aim at the 1.1400 level. Below here will open the door for more weakness towards the 1.1350. All in all, EURUSD faces further downside pressure

                              Comment


                              • GBPUSD: Bearish, Extends Weakness

                                GBPUSD: The pair continues to retain its downside pressure selling off further on Friday. Support lies at the 1.2750 level where a break will turn attention to the 1.2700 level. Further down, support lies at the 1.2650 level. Below here will set the stage for more weakness towards the 1.2600 level. Conversely, resistance stands at the 1.2850 levels with a turn above here allowing more strength to build up towards the 1.2900 level. Further out, resistance resides at the 1.2950 level followed by the 1.3000 level. On the whole, GBPUSD remains biased to the downside medium term.

                                Comment

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