EURUSD: Faces Recovery Threats.
EURUSD: With EUR turning higher following a halt in its weakness on Thursday, we think a follow through should occur. Support lies at the 1.2800 level where a break will expose the 1.2750 level. Below here will pave the way for a move lower towards the 1.2700 level. If this continues, expect further downside to occur towards the 1.2650 level. On the upside, resistance lies at the 1.2900 level where a break will aim at the 1.2950 level, its psycho level…Continue
EURJPY: Bullish, Threatens Further Upside
EURJPY- With the cross reversing its one-day correction, further upside is now expected. On the upside, resistance resides at the 140.50 level where a break if seen will threaten further upside towards the 141.00. Further out, resistance resides at the 141.50 level where a break will aim at the 142.00. Support comes in at the 139.50 level where a break will aim at the 139.00 level. A break will target the 138.50 level with a breach turning…Continue
GBPUSD: Maintains Recovery Bias
GBPUSD: With GBP following through on the back of its recovery during early trading today, it faces risk of continuation of that strength. Resistance resides at the 1.6350 level with a break aiming at the 1.6400 level. A violation will aim at the 1.6450 level and possibly higher towards the 1.6500 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6250 level where a break will aim at the…Continue
GBPJPY: Declines On Corrective Weakness
GBPJPY – With GBPJPY seen weakening on corrective pullback, more downside is envisaged. On the downside, support comes in at the 173.00 level where a violation will aim at the 172.50 level. A break below here will target the 172.00 level followed by the 171.50 level. Further down, support lies at the 171.00 level. Resistance lies at the 174.50 level followed by the 175.00 level where a break will aim at the 175.50 level. A cut through here will…Continue