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fxtech posted a blog post

GBPUSD: Tests The 1.6819/22 level, Eyes Further Upside

GBPUSD: GBP remains bullish strengthening further on Wednesday and targeting further upside. Though seen strengthening during early trading today, it requires a break and hold above the 1.6819/22 level to create scope for more gains. The pair needs to decisively break and hold above here to trigger further bullish offensive towards the 1.6877 level. Further out, resistance resides at the 1.6900 level where a break will aim at the 16950 level and then its big psycho level at the 1.7000 level.…See More
5 minutes ago
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Apr 9
fxtech posted a blog post

The Week Ahead On USDCHF

USDCHF: With USDCHF capping its strength at the 0.8952 level to close the marginally lower (daily chart), it faces the risk of a correction in the new week. Expect it returned above the 0.8952 level, this view remains valid with eyes on the downside. Support lies at the 0.8874 level where a violation if seen targeting the 0.8813 level. A cut through here will set the stage for a run at the 0.8750 level and subsequently the 0.8698 level. If it violates this level it will resume its medium term…See More
Apr 5
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fxtech posted a blog post

USDCHF: Maintains Recovery Tone But With Caution.

USDCHF: While USDCHF may have closed higher for a second week in a row, it ended the week with a rejection candle on the daily chart suggesting price exhaustion has set in. Except it recaptures the 0.8898 level, it faces the risk of a corrective weakness in the new week. In such a case, support lies at the 0.8786 level where a break will set the stage for a run at the 0.8698 level. If it violates this level it will resume its medium term downtrend presently on hold. Further down, support comes…See More
Mar 30
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George Sofianos commented on fxtech's blog post GOLD: Weighed Down By Bears.
"You are right about the critical 1300 level. Not only it is psychological but around there (1296) lies it's 200 DME which right now is retested as support. If it holds we are long and only long on gold, a new bull market is on the way. Watch…"
Mar 26
fxtech posted a blog post

GOLD: Weighed Down By Bears.

GOLD: With GOLD reversing its intra-day gains to weak further today, further downside pressure is now envisaged. Key support lies at its big psycho level at the 1,300 .00. We expect bulls to come in here and push it higher but if broken further downside is likely towards the 1,280.00 level followed by the 1,250 level. Its daily RSI bearish and pointing lower supporting this view. On the upside, for GOLD to annul its correction it will have to recapture the 1,367.40 level, a tough call based on…See More
Mar 26
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fxtech's blog post was featured

The Week Ahead: USDCHF

USDCHF: With the pair closing higher following its price halt the past week, the risk is for more gains to occur. However, the situation on the daily chart is different as its mentioned rally has printed a reversal candle (shooting star) suggesting it may be tough for USDCHF strengthen further for now. If it cannot go up we think it should head lower on correction. Support comes in at the 0.8768 level where a violation will turn focus to the 0.8698 level. Further down, support is located at the…See More
Mar 24
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fxtech's blog post was featured

USDCHF: Bearish, Sees Further Weakness.

USDCHF: With the pair extending its weakness the past week, further downside is expected in the new week. However, it may begin to look for corrective recovery since the mentioned weakness is overextended. On the other hand, support comes in at the 0,8698 level with a break and hold below here resuming its medium term downtrend towards the 0.8650 level. Further down, support is located at the 0.8600 level and then the 0.8568 level and then the 0.8500 level. On the upside, resistance resides at…See More
Mar 16
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fxtech posted a blog post

EURUSD: Maintains Bullish Tone

EURUSD: Having closed strongly higher for a fourth week in a row, further bullish offensive is likely. As long as it can trade and hold above the 1.3824 level, we look for the pair to strengthen further towards the 1.3914 level where a violation will turn attention to the 1.3950 level and then the 1.4000 level, its psycho level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 1.3824 level where a break will expose the 1.3772 level. Further…See More
Mar 10
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fxtech's blog post was featured

USDCHF: Bearish, Eyes Further Downside With Caution

USDCHF: With USDCHF giving back its earlier gains for the week to close lower marginally lower the past week, more decline is likely in the week. This is with a lot of caution. Support comes in at the 0.8700 level, its psycho level. Below here will set the stage for further weakness towards the 0.8650 level. Further down, support is located at the 0.8600 level and then the 0.8568 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, resistance resides at…See More
Mar 9
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fxtech's blog post was featured

USDCHF: Sees Further Bearish Momentum.

USDCHF: With continued weakness seeing USDCHF testing a low of 0.8776 before closing lower at the 0.8801 level on Friday, further decline remains intact. It requires a break and close below the 0.8798 level, its Dec 27 2013 low and the 0.8776 level, its past week low to decline further. Further down, support lies at the 0.8750 level with a cut through here paving the way for a run at the 0.8700 level, its big psycho level. Below here if seen will set the stage for more weakness towards the…See More
Mar 1
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fxtech's blog post was featured

USDJPY: Pressure Builds On The 102.82 Level

USDJPY: With USDJPY reversing its Tuesday losses, further upside is expected towards the 102.82 level. A cut through here will open the door for more gain towards  the 103.43 level, its Jan 29 2014 high. Above here will set the stage for a run at the 104.oo level. Further out, resistance comes in at the 104.50 level and then the 105.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, support stands at 102.00 level where a violation will expose the…See More
Feb 27
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fxtech's blog post was featured

The Week Ahead: USDCHF

USDCHF: Weakens, Extends Bearishness.USDCHF: With a third-week of decline as occurring the past week, further weakness is likely towards the 0.8798 level, its Dec 27 2013 low. Further down, support lies at the 0.8750 level with a cut through here paving the way for a run at the 0.8700 level, its big psycho level. Below here if seen will set the stage for more weakness towards the 0.8650 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, to resume its short…See More
Feb 23
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fxtech posted a blog post

Special Focus On GBPUSD

GBPJPY: Vulnerable But Retains Its Broader Long Term Uptrend BiasGBPJPY – The cross remains biased to the upside in the medium and long terms but now faces corrective downside. In order for it to resume its uptrend, it will have to break above the 171.15/87 levels. A breach could force further upside towards the 172.50 level. Further out, resistance resides at the 173.64 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, support comes in at the 169.11 level…See More
Feb 20
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Fxtech's Blog

GBPUSD: Tests The 1.6819/22 level, Eyes Further Upside

Posted on April 17, 2014 at 12:25pm 0 Comments

GBPUSD: GBP remains bullish strengthening further on Wednesday and targeting further upside. Though seen strengthening during early trading today, it requires a break and hold above the 1.6819/22 level to create scope for more gains. The pair needs to decisively break and hold above here to trigger further bullish offensive towards the 1.6877 level. Further out, resistance resides at the 1.6900 level where a break will aim at the 16950 level and then its big psycho level at the…

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Commodity Technical Outlook On CRUDE OIL

Posted on April 16, 2014 at 7:30pm 0 Comments

CRUDE OIL: Turns Lower, Vulnerable

CRUDE OIL: With the commodity reversing its intra day gains during Wednesday trading session, it faces the risk of further downside pressure. On further weakness, support comes in at the 102.94 level where a breach will aim at the 102.04 level. A cut through here will target the 100.68 level with a push below here if seen will expose the 99.93 level with a violation targeting the 99.81 level. Further down, supports are seen at the 98.86 level and…

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AUDUSD: Weakens, Vulnerable To The Downside.

Posted on April 15, 2014 at 3:53pm 0 Comments

AUDUSD: With AUDUSD remaining weak and vulnerable in a corrective mode after losing steam at the 0.9460 level the past week, further downside pressure is envisaged. Support lies at the 0.9334 level where a break will aim at the 0.9303/7 levels. A reversal of roles as support is likely to occur. Further down, support comes in at the 0.9250 level followed by the 0.9200 level where a break will turn focus to the 0.9166 level. Resistance resides at the 0.9460 level where a break will aim at the…

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Special Focus on USDJPY

Posted on April 14, 2014 at 9:35pm 0 Comments

USDJPY: Triggers Upside Recovery With Eyes On Further Upside



USDJPY: With USDJPY triggering a recovery higher following through on the back of its Friday gains, the risk is for more gains to occur. Further out, resistance resides at the 102.15 level where a breach will turn focus to the 103.00 level. Further out, resistance is seen at the 103.50 level and then the 104.00 level. Its daily RSI has turned higher supporting this view. On the other…

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