EURUSD: Vulnerable But With Caution

EURUSD: With EUR extending its weakness on Thursday, further downside pressure is likely. With a rejection candle printed on Wednesday, beware of a recovery higher risk. Support lies at the 1.3000 level where a break will expose the 1.3350 level. Below here will pave the way for a move lower towards the 1.3300 level. If this continues, expect further downside to occur towards the 1.3250 level. On the upside, resistance lies at the 1.3650 level, its…

USDCAD: Extends Its Bullish Offensive

USDCAD: With USDCAD rallying strongly on Tuesday, further bullishness is now envisaged. On the upside, resistance is seen at the 1.0900 level followed by the 1.0950 level. Further out, resistance comes in at the 1.1000 level where a reversal of roles is expected to occur and turn it lower. On the downside, support lies at the 1.0750 level followed by the 1.0700 level where a break will aim at the 1.0650 level and then the 1.0600 level. Further…

USDJPY: Builds Up On Its Strength

USDJPY: Further bullish price extension is now underway following the pair’s higher close on Monday. Resistance resides at the 102.79 level where a break will target the 102.79 level. Further out, resistance resides at the 103.01 level where a violation will aim at the 103.38 level and possibly higher towards the 104.12 level. On the downside, support comes in at the 101.00 level where a break if seen will aim at the 100.72 followed by the 100.50 and…

GBPUSD: Susceptible With Caution

GBPUSD: With continued downside pressure seen the past week, further downside is likely though a correction could occur in the new week. On the other hand, support lies at the 1.6921 level where a break will aim at the 1.6900 levels. A break of here will turn attention to the 1.6850 level. Further down, support lies at the 1.6800 level. Conversely, resistance resides at the 1.7042 level with a break aiming at the 1.7100 level where a violation will aim…