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(Discuss) Daily Technical Strategy On Currencies & Commodities

GOLD: Remains Biased To The Upside On Correction

GOLD: The commodity closed higher the past week leaving risk higher. On the downside, support comes in at the 1,250.00 level where a break will turn attention to the 1,240.00 level. Further down, a cut through here will open the door for a move lower towards the 1,230.00 level. Below here if seen could trigger further downside pressure targeting the 1,220.00 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.
 
AUDUSD: Rallies Further On Bull Pressure

AUDUSD: Rallies Further On Bull Pressure

AUDUSD. The pair continues to retain its recovery threats strengthening strongly on Tuesday and leaving risk of price extension. On the downside, support resides at the 0.7450 level where a breach will aim at the 0.7400 level. Below that level will set the stage for a run at the 0.7350 level with a cut through here targeting further downside pressure towards the 0.7300 level. On the upside, resistance lies at the 0.7550 level. A cut through here will turn attention to the 0.7600 level and then the 0.7650 level where a violation will set the stage for a retarget of the 0.7700 level. On the whole, AUDUSD remains biased to the upside on correction.
 
USDJPY: Sells Off On Bear Pressure

USDJPY: Sells Off On Bear Pressure

USDJPY: The pair remains vulnerable to the downside on correction as it sold off during Friday trading today. 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 111.50 level. Further out, we envisage a possible move towards the 112.00 level. Further out, resistance resides at the 112.50 level with a turn above here aiming at the 113.00 level. On the whole, USDJPY looks vulnerable on more weakness.
 
EURUSD: Closes Lower On Rejection Candle

EURUSD: Closes Lower On Rejection Candle

EURUSD: With the pair failing to hold on to its past week gains to close on a rejection candle the past week, it now faces pullback threats. Resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Conversely, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. All in all, EURUSD faces further bear pressure.
 
EURUSD: With the pair rejecting lower prices to close higher on Tuesday, further bullishness is likely in the days ahead. Resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Conversely, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. All in all, EURUSD faces further recovery pressure.

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GOLD Hesitates But Still Retains Upside Bias

GOLD Hesitates But Still Retains Upside Bias

GOLD: The commodity continues to hold on to its upside pressure short term though hesitating on Tuesday. On the downside, support comes in at the 1,250.00 level where a break will turn attention to the 1,240.00 level. Further down, a cut through here will open the door for a move lower towards the 1,230.00 level. Below here if seen could trigger further downside pressure targeting the 1,220.00 level. Conversely, resistance resides at the 1,270.00 level where a break will aim at the 1,280.00 level. A turn above there will expose the 1,290.00 level. Further out, resistance stands at the 1,300.00 level. All in all, GOLD looks to strengthen further despite price hesitation
 
EURJPY: Eyes Further Recovery Higher

EURJPY: Eyes Further Recovery Higher

EURJPY: The With the pair continuing to hold on to its recovery pressure, more strength is now expected in the days ahead. On the downside, support comes in at the 124.00 level where a break if seen will aim at the 123.50 level. A cut through here will turn focus to the 123.00 level and possibly lower towards the 122.50 level. On the upside, resistance resides at the 125.00 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further recovery threats.
 
USDCHF: With the pair extending its weakness the past week, more decline is envisaged in the new week. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. All in all, USDCHF faces further bearishness in the new week.
 
EURUSD: Broader Bias Remains Higher On Bullishness

EURUSD: Broader Bias Remains Higher On Bullishness

EURUSD: With the pair closing higher the past week, risk of more strength is likely. Resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level. All in all, EURUSD faces further recovery threats in the new week.
 
USDJPY: Vulnerable, Retains Downside Pressure

USDJPY: Vulnerable, Retains Downside Pressure

USDJPY: The pair faces further downside pressure in the short term though seen hesitating during early Monday trading. On the downside, support comes in at the 110.00 level where a break if seen will aim at the 109.50 level. A cut through here will turn focus to the 109.00 level and possibly lower towards the 108.50 level. On the upside, resistance resides at the 111.00 level. Further out, we envisage a possible move towards the 111.50 level. Further out, resistance resides at the 112.00 level with a turn above here aiming at the 112.50 level. On the whole, USDJPY looks vulnerable to the downside.
 
AUDUSD: Rallies, Extends Its Upside Pressure.

AUDUSD: Rallies, Extends Its Upside Pressure.

AUDUSD. The pair continues to retain its upside pressure rallying further on Wednesday. On the downside, support resides at the 0.7500 level where a breach will aim at the 0.7450 level. Below that level will set the stage for a run at the 0.7400 level with a cut through here targeting further downside pressure towards the 0.7350 level. On the upside, resistance lies at the 0.7600 level. A cut through here will turn attention to the 0.7650 level and then the 0.7700 level where a violation will set the stage for a retarget of the 0.7750 level. On the whole, AUDUSD remains biased to the upside on further bullishness.
 
USDCHF Remains Vulnerable But With Caution

USDCHF Remains Vulnerable But With Caution

USDCHF: With the pair continuing to retain its downside pressure, more decline is envisaged despite price hesitation. However, we a close higher seen the past week, further bullishness is likely. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9750 level where a break will clear the way for more strength to occur towards the 0.9800 level. Further out, resistance comes in at the 0.9850 level. All in all, USDCHF faces further bearishness but with caution
 
EURUSD: Retains Upside Threats Despite Pullback Risk

EURUSD: Retains Upside Threats Despite Pullback Risk

EURUSD: With the pair continuing to retain its upside pressure, more strength is envisaged though hesitating the past week. Resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Conversely, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. All in all, EURUSD faces further recovery threats in the new week.
 
EURUSD: With the pair continuing to hold on to its downside pressure, further bearishness is likely. Resistance comes in at 1.1150 level with a cut through here opening the door for more upside towards the 1.1200 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. Conversely, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. All in all, EURUSD faces further downside threats.
 
GOLD: Targets Further Weakness On Bearishness

GOLD: Targets Further Weakness On Bearishness

GOLD: The commodity continues to face its pullback threats. On the downside, support comes in at the 1,250.00 level where a break will turn attention to the 1,240.00 level. Further down, a cut through here will open the door for a move lower towards the 1,230.00 level. Below here if seen could trigger further downside pressure targeting the 1,220.00 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.
 
GOLD: Bearish, Targets Further Weakness

GOLD: Bearish, Targets Further Weakness

GOLD: The commodity continues to face downside pressure on bearishness. 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. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, resistance resides at the 1,250.00 level where a break will aim at the 1,260.00 level. A turn above there will expose the 1,270.00 level. Further out, resistance stands at the 1,280.00 level. All in all, GOLD looks to weaken further on bear pressure.
 
AUDUSD: Weakens, Faces Further Bear Pressure

AUDUSD: Weakens, Faces Further Bear Pressure

AUDUSD. The pair continues to hold on to its downside pressure leaving risk lower. On the downside, support resides at the 0.7500 level where a breach will aim at the 0.7450 level. Below that level will set the stage for a run at the 0.7400 level with a cut through here targeting further downside pressure towards the 0.7350 level. On the upside, resistance lies at the 0.7600 level. A cut through here will turn attention to the 0.7650 level and then the 0.7700 level where a violation will set the stage for a retarget of the 0.7750 level. On the whole, AUDUSD remains biased to the downside nearer term.
 
EURGBP: Continues To Retain Its Upside Pressure

EURGBP: Continues To Retain Its Upside Pressure

EURGBP- The cross continues to retain its short term uptrend as it looks to resume upside pressure. Support lies at the 0.8800 level where a violation will turn focus to the 0.8750 level. A break will expose the 0.8700 level. Resistance resides at the 0.8850 level where a violation if seen will turn risk towards the 0.8900 level. Further up, resistance resides at 0.8950 level followed by the 0.9000 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURGBP remains biased to the upside on recovery.
 
GBPUSD: Recovers Higher Within Trading Range

GBPUSD: Recovers Higher Within Trading Range

GBPUSD: The pair continues to face upside pressure but within its established range. Support lies at the 1.2700 level where a break will turn attention to the 1.2650 level. Further down, support lies at the 1.2600 level. Below here will set the stage for more weakness towards the 1.2550 level. Conversely, resistance stands at the 1.2800 levels with a turn above here allowing more strength to build up towards the 1.2850 level. Further out, resistance resides at the 1.2900 level followed by the 1.2950 level. On the whole, GBPUSD continues to face upside threats.
 
EURUSD: Rejects Lower Prices, Eyes Further Recovery

EURUSD: Rejects Lower Prices, Eyes Further Recovery

EURUSD: With the pair seeing rejecting lower prices to close higher the past week, further bullishness is likely. Resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level. Its weekly RSI is bullish and pointing higher suggesting more strength. Conversely, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level. All in all, EURUSD faces further upside threats on price rejection.
 
USDJPY: Looks To Recover Higher Nearer Term

USDJPY: Looks To Recover Higher Nearer Term

USDJPY: The pair is now see a move higher with more strength envisaged. On the downside, support comes in 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 looks vulnerable to the downside.
 
CRUDE OIL: Builds Up On Bull Recovery

CRUDE OIL: Builds Up On Bull Recovery

CRUDE OIL: The commodity continues to retain its upside pressure on correction. On the downside, support resides at the 43.00 level where a break will expose the 42.50 level. A cut through here will set the stage for a run at the 42.00 level. Further down, support resides at the 41.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the upside, resistance resides at the 44.00 level. Further out, resistance comes in at the 44.50 level. A break above here will aim at the 45.00 level and then the 45.50 level followed by the 46.00 level. All in all, CRUDE OIL remains biased to the upside on further strength.
 
EURUSD: Rallies Strongly on Price Reversal

EURUSD: Rallies Strongly on Price Reversal

EURUSD: With the pair seen rallying on Tuesday following its Monday price reversal, more strength is envisaged in the days ahead. Resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will aim at the 1.1150 level. All in all, EURUSD faces further upside pressure.
 
GBPUSD Remains Bullish, Eyes Further Upside Pressure

GBPUSD Remains Bullish, Eyes Further Upside Pressure

GBPUSD: The pair continues to face upside pressure following its higher close on Tuesday. 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. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD continues to face upside threats.
 
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