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(Discuss) Daily Technical Strategy On Currencies & Commodities

USDJPY: Weakens, Eyes The 112.00 Zone

USDJPY: Weakens, Eyes The 112.00 Zone

USDJPY: The pair weakened on Thursday leaving risk of more decline to occur in the days ahead. On the downside, support comes in at the 112.50 level where a break if seen will aim at the 112.00 level. A cut through here will turn focus to the 111.50 level and possibly lower towards the 111.00 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 looks to extend its downside pressure.
 
EURUSD: Vulnerable To Downside Though With Caution

EURUSD: Vulnerable To Downside Though With Caution

EURUSD: With the pair closing strongly lower on Friday, further weakness is envisaged. On the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure.
 
GOLD: Risk Remains Lower On Pullback Threats

GOLD: The commodity continues to retain its upside pressure but with caution. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Conversely, resistance resides at the 1,240.00 level where a break will aim at the 1,250.00 level. A turn above there will expose the 1,260.00 level. Further out, resistance stands at the 1,270.00 level. All in all, GOLD looks to strengthen further.

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EURUSD: Weakens, Extends Bear Pressure

EURUSD: Weakens, Extends Bear Pressure

EURUSD: With the pair continuing to weaken further on Wednesday, more decline is likely in the days ahead. On the upside, resistance comes in at 1.0550 level with a cut through here opening the door for more upside towards the 1.0600 level. Further up, resistance lies at the 1.0650 level where a break will expose the 1.0600 level. Conversely, support lies at the 1.0450 level where a violation will aim at the 1.0400 level. A break of here will aim at the 1.0350 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure on declines
 
EURUSD: Risk Remains Lower Bear Pressure

EURUSD: Risk Remains Lower Bear Pressure

EURUSD: With the pair following through lower the past week, further weakness is likely in the new week. On the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. Conversely, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure on declines

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GBPUSD: Consolidates With Downside Risk

GBPUSD: Consolidates With Downside Risk

GBPUSD: The pair continues to consolidate leaving directional move a challenge. However, it should head lower nearer term. Support lies at the 1.2400 level where a break will turn attention to the 1.2350 level. Further down, support lies at the 1.2300 level. Below here will set the stage for more weakness towards the 1.2250 level. Conversely, resistance stands at the 1.2500 levels with a turn above here allowing more strength to build up towards the 1.2550 level. Further out, resistance resides at the 1.2600 level followed by the 1.2650 level. On the whole, GBPUSD continues to face consolidation threats.
 
EURUSD: Risk Remains Lower Despite Price Recovery


EURUSD: The pair retains its downside pressure a recovery threat on Monday. On the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. All in all, EURUSD faces further downside pressure short term.

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USDCHF Remains Vulnerable On Price Rejection

USDCHF Remains Vulnerable On Price Rejection

USDCHF: The pair rejected higher prices the past week leaving risk lower. On the downside, support lies at the 1.0000 level. A turn below here will open the door for more weakness towards the 0.9950 level and then the 0.9900 level. On the upside, resistance resides at the 1.0100 level where a break will clear the way for more strength to occur towards the 1.0150 level. Further out, resistance comes in at the 1.0200 level. All in all, USDCHF remains biased to the downside on price weakness.
 
EURUSD: Rejects Lower Prices, Eyes More Recovery.

EURUSD: Rejects Lower Prices, Eyes More Recovery.

EURUSD: The pair saw a price rejection the past week, leaving risk higher in the new week. On the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. All in all, EURUSD faces further downside pressure medium term but faces recovery higher.
 
GOLD: Retains Upside Pressure Despite Pullback

GOLD: Retains Upside Pressure Despite Pullback

GOLD: The commodity closed lower the past week though with caution. On the downside, support comes in at the 1,240.00 level where a break will turn attention to the 1,230.00 level. Further down, a cut through here will open the door for a move lower towards the 1,220.00 level. Below here if seen could trigger further downside pressure targeting the 1,210.00 level. Conversely, resistance resides at the 1,260.00 level where a break will aim at the 1,270.00 level. A turn above there will expose the 1,280.00 level. Further out, resistance stands at the 1,290.00 level. All in all, GOLD looks to strengthen further.

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USDJPY: Remains Vulnerable But With Caution

USDJPY: Remains Vulnerable But With Caution

USDJPY: Remains Vulnerable But With Caution

USDJPY: The pair still faces downside pressure though closing higher the past week. On the downside, support comes in at the 114.00 level where a break if seen will aim at the 113.50 level. A cut through here will turn focus to the 113.00 level and possibly lower towards the 112.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 114.50 level. Further out, we envisage a possible move towards the 115.00 level. Further out, resistance resides at the 115.50 level with a turn above here aiming at the 116.00 level. On the whole, USDJPY looks to weaken in the nearer term.
 
GBPUSD: Eyes Further Weakness On Bear Pressure

GBPUSD: Eyes Further Weakness On Bear Pressure

GBPUSD: The pair faces further weakness following its continued downside pressure. Support lies at the 1.2150 level where a break will turn attention to the 1.2100 level. Further down, support lies at the 1.2050 level. Below here will set the stage for more weakness towards the 1.2000 level. Conversely, resistance stands at the 1.2250 levels with a turn above here allowing more strength to build up towards the 1.2300 level. Further out, resistance resides at the 1.2350 level followed by the 1.2300 level. On the whole, GBPUSD continues to face downside threats but with caution.
 
GBPUSD: Bearish, Remains Vulnerable To The Downside

GBPUSD: Bearish, Remains Vulnerable To The Downside

GBPUSD: The pair continues to face further weakness following more declines on Wednesday. Support lies at the 1.2150 level where a break will turn attention to the 1.2100 level. Further down, support lies at the 1.2050 level. Below here will set the stage for more weakness towards the 1.2000 level. Conversely, resistance stands at the 1.2250 levels with a turn above here allowing more strength to build up towards the 1.2300 level. Further out, resistance resides at the 1.2350 level followed by the 1.2300 level. On the whole, GBPUSD continues to face downside threats but with caution.
 
EURUSD: Bullish, Faces Further Upside Pressure

EURUSD: Bullish, Faces Further Upside Pressure

EURUSD: The pair faces further recovery pressure following its past week higher close. On the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. All in all, EURUSD faces further upside pressure.

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GOLD: Bearish But With Risk Of Correction

GOLD: Bearish But With Risk Of Correction

GOLD: The commodity closed lower the past week but it looks to trigger corrective recovery. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 level. All in all, GOLD looks to weaken further.
 
EURUSD: Rallies, Looks To Extend Strength

EURUSD: Rallies, Looks To Extend Strength

EURUSD: The pair rallied strongly to reverse its two-day losses on Wednesday. On the upside, resistance comes in at 1.0750 level with a cut through here opening the door for more upside towards the 1.0800 level. Further up, resistance lies at the 1.0850 level where a break will expose the 1.0900 level. Conversely, support lies at the 1.0650 level where a violation will aim at the 1.0700 level. A break of here will aim at the 1.0750 level. Its daily RSI is bullish and pointing higher suggesting further upside. All in all, EURUSD faces further upside pressure.
 
EURUSD: Bullish, Faces Further Recovery Higher

EURUSD: Bullish, Faces Further Recovery Higher

EURUSD: With the pair closing higher the past week, further recovery is envisaged. On the upside, resistance comes in at 1.0800 level with a cut through here opening the door for more upside towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. Its weekly RSI bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level. All in all, EURUSD faces further upside pressure but with caution.
 
GBPUSD: Bullish, Targeting Further Upside Pressure

GBPUSD: Bullish, Targeting Further Upside Pressure

GBPUSD: The pair remains on the offensive leaving risk higher in the days ahead. Support lies at the 1.2350 level where a break will turn attention to the 1.2300 level. Further down, support lies at the 1.2250 level. Below here will set the stage for more weakness towards the 1.2200 level. Conversely, resistance stands at the 1.2450 levels with a turn above here allowing more strength to build up towards the 1.2500 level. Further out, resistance resides at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD continues to face upside pressure.
 
EURUSD: Bullish, Threatens Further Upside Pressure

EURUSD: Bullish, Threatens Further Upside Pressure

EURUSD: With the pair rallying back above its key resistance, further bullishness is likely. On the upside, resistance comes in at 1.0850 level with a cut through here opening the door for more upside towards the 1.0900 level. Further up, resistance lies at the 1.0950 level where a break will expose the 1.1000 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.0750 level where a violation will aim at the 1.0700 level. A break of here will aim at the 1.0650 level. All in all, EURUSD faces pullback threats.
 
CRUDE OIL: Weakens, Extends Bear Pressure

CRUDE OIL: Weakens, Extends Bear Pressure

CRUDE OIL: The commodity extend its Tuesday losses on Wednesday opening the door for more declines. On the downside, support resides at the 47.00 level where a break will expose the 46.00 level. A cut through here will set the stage for a run at the 45.00 level. Further down, support resides at the 44.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 48.00 level. Further out, resistance comes in at the 49.00 level. A break above here will aim at the 50.00 level and then the 51.00 level followed by the 52.00 level. All in all, CRUDE OIL remains biased to the downside short term.
 
USDJPY: Threatening Further Weakness Short Term

USDJPY: Threatening Further Weakness Short Term

USDJPY: The pair continued to retain its downside pressure with more declines expected. On the downside, support comes in at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level. On the upside, resistance resides at the 112.50 level. Further out, we envisage a possible move towards the 113.00 level. Further out, resistance resides at the 113.50 level with a turn above here aiming at the 114.00 level. On the whole, USDJPY looks to weaken further short term.
 
EURUSD: Bullish With Eyes On Key Resistance

EURUSD: Bullish With Eyes On Key Resistance

EURUSD: With the pair closing higher the past week, it now leaves risk of more strength on the upside. On the upside, resistance comes in at 1.0850 level with a cut through here opening the door for more upside towards the 1.0900 level. Further up, resistance lies at the 1.0950 level where a break will expose the 1.1000 level. Its daily RSI is bullish and pointing lower suggesting further weakness. Conversely, support lies at the 1.0750 level where a violation will aim at the 1.0700 level. A break of here will aim at the 1.0650 level. All in all, EURUSD faces further recovery threats.
 
EURUSD: Bearish, Targets Further Weakness

EURUSD: Bearish, Targets Further Weakness

EURUSD: With the pair closing further lower on Wednesday, it now looks to weaken further in the days ahead. This exposes its support located at 1.0700 level. Resistance comes in at 1.0800 level with a cut through here opening the door for more upside towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. Conversely, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level. All in all, EURUSD faces further pullback threats.
 
USDCHF: Remains On The Offensive With Eyes On 1.0100 Zone

USDCHF: Remains On The Offensive With Eyes On 1.0100 Zone

USDCHF: The pair looks to extend its upside pressure after closing strongly higher the past week. On the downside, support lies at the 0.9950 level. A turn below here will open the door for more weakness towards the 0.9900 level and then the 0.9850 level. On the upside, resistance resides at the 1.0100 level where a break will clear the way for more strength to occur towards the 1.0150 level. Further out, resistance comes in at the 1.0200 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF faces further price strength.
 
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