USDCHF: Remains On The Offensive

USDCHF: With a second week of strength seeing further bullishness the past week, additional bull pressure is envisaged. However, watch out for a pullback following its two-week run to the upside. On the upside, resistance resides at the 0.9250 level where a break will aim at the 0.9300 level. Further out, resistance resides at the 0.9350 level. A breather may occur here and turn the pair lower but if that level is taken out, expect a push further…

GOLD: Declines On Price Sell Off

GOLD: With GOLD selling off sharply during Thursday trading session, further downside pressure is expected in the days ahead. On the downside, support comes in at the 1,250.00 level where a break will aim at the 1,230.00 level. Below here if seen could trigger further downside towards the 1,200.00 level where a break will aim at the 1,180.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the…

USDJPY: Faces Price Consolidation

USDJPY: With USDJPY still facing consolidation price action, a directional move is now on hold. On the downside, support comes in at the 117.00 level where a break will target the 116.50 level. Below here if seen will aim at the 116.00 level followed by the 115.00 and then the 114.00. On the upside, resistance resides at the 119.00 level followed by the 120.00 level where a break will target the 121.00 level. Further out, resistance comes in at the…

USDCHF: Halts Recovery, Vulnerable

USDCHF: The pair continues to hold on to its upside pressure but now faces price hesitation. On the downside, support lies at the 0.8950 level with a break targeting the 1.8900 level and then the 0.8850 level. Further down, support comes in at the 0.9000 level. On the upside, resistance resides at the 0.9050 level where a break will aim at the 0.9100 level. Further out, resistance resides at the 0.9150 level. A breather may occur here and turn the…