Fxtech's Blog (863)

AUDUSD: Risk Turns Higher On Recovery Offensive

AUDUSD: With the pair rallying strongly during early trading on Thursday, further upside offensive is envisaged. This development suggests a temporary bottom is now in place. This should see more strength build up with eyes on the 0.7200 zone. On the upside, resistance lies at the 0.7250 level. A cut through here will turn attention to the 0.7300 level and then the 0.7350 level where a violation will set the stage for a retarget of the 0.7400 level. On the downside, support resides at the…

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Added by fxtech on November 12, 2015 at 6:07am — No Comments

EURJPY Retains Downside Bias Despite Price Hesitation

EURJPY: The cross saw downside pressure on Tuesday though taking back some of those gains. It still remains weak and vulnerable to the downside. We continue to look for more weakness. Support comes in at the 131.50 level. Further down, support stands at the 131.00 level where a violation will aim at the 130.50 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance comes in at the 132.50 level where a break will aim at the 133.00 level. Further out, a…

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Added by fxtech on November 11, 2015 at 4:12pm — No Comments

EURUSD Exposed To Downside Below The 1.0805/07 Zone

EURUSD:  The pair’s attempt on the upside was rebuffed by the bears on Monday to close slightly higher. This development leaves the risk lower in the direction of its broader downside bias. We look for more weakness to occur towards the 1.0700 level. Further down,  support lies at the 1.0650 level where a violation will aim at the 1.0600 level. A break of here will aim at the 1.0550 level with a turn below that level targeting the 1.0500 level. Its daily RSI is bearish and pointing lower,…

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Added by fxtech on November 10, 2015 at 1:07pm — No Comments

USDJPY Faces Bear Threats On Corrective Pullback



USDJPY: The pair lost upside momentum following its failure at 123.59 level to close lower on a rejection candle on Monday. While the 123.59/78 zone caps, we think more weakness should follow. On the downside, support comes in at the 122.50 level where a break if seen will aim at the 122.00 level. A cut through here will turn focus to the 121.50 level and possibly lower towards the 121.00 level. On the upside, resistance resides at the 123.50 level where a cap may be occur again.…

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Added by fxtech on November 10, 2015 at 4:21am — No Comments

GBPUSD: Vulnerable But Faces Corrective Risk

GBPUSD: The pair sold off to resume its broader downside pressure the past week leaving risk of further weakness on the cards. This view remains valid while GBP can trade and hold below the 1.5133/22 zone. However, we may see price consolidation or even a recovery higher in the new week. Note that the 1.5000 level psycho logical support is nearby. Support lies at the 1.5000 level where a break will turn attention to the 1.4950 level. Further down, support lies at the 1.4900 level. Below here…

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Added by fxtech on November 9, 2015 at 4:25am — No Comments

EURUSD: Tumbles On Heavy Sell Off, Stays Below 1.0807

EURUSD: The pair witnessed a sharp sell off the past week cutting through its key support the 1.0818/08 zone. This development leaves EUR lower as we enter a new week. It will have to maintain below the mentioned support turned resistance to prevent any bullish offensive. But beware of a recovery higher following such a sell off. Support is located at the 1.0700 level but if violated, expect more weakness to occur towards the 1.0650 level. Further down,  support lies at the 1.0600 level…

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Added by fxtech on November 8, 2015 at 4:19pm — No Comments

AUDUSD Eyes Key Support At The 0.6899 Region

AUDUSD: AUDUSD remains weak and vulnerable to the downside with risk of more weakness on the cards. Its big support lies at the 0.6926/0.6899 zone. However, we may see a recovery higher on correction in the new week folowing its last week sell off. On the downside, support resides at the 0.7000 level where a breach will aim at the 0.6950 level. Below that level will set the stage for a run at the 0.6900 level with a cut through here targeting further downside towards the 0.6850 level. Its…

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Added by fxtech on November 8, 2015 at 5:40am — No Comments

CRUDE OIL Bull Pressure Sets For The 43.19/42.56 Zone

CRUDE OIL: The commodity extended its weakness on Friday to close the week lower. It also reversed most of its previous week gains. This development has opened the door for more weakness towards its key support at 43.19 zone. On the downside, support resides at the 42.56 level where a break will expose the 42.00 level. A cut through here will set the stage for a run at the 41.00 level. Further down, support resides at the 40.00 level. Its daily RSI is bearish and pointing lower supporting…

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Added by fxtech on November 7, 2015 at 2:45am — No Comments

GBPJPY Extends Its Sells Off, Targets 183.86 Region

GBPJPY: With the cross tumbling lower on Thursday and following through lower during Friday trading today, further downside pressure is expect. It looks to retarget its key support at the 183.86 zone. On the downside, support comes in at the 184.00 level where a violation will aim at the 183.36 level. A break below here will target the 182.50 level followed by the 182.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance is seen at the 185.00…

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Added by fxtech on November 6, 2015 at 1:31pm — No Comments

EURUSD Threatens Recovery Above The 1.0847 Level

EURUSD:  The pair may have put in a temporary bottom, having closed higher on a rejection candle ahead of its key support at 1.0847 level. We now envisage a mild recovery higher as long as EUR holds above its June 2015 low at the 1.0807 level. But if violated, expect more weakness to occur towards the 1.0750 level. Further down,  support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level with a turn below that level targeting…

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Added by fxtech on November 6, 2015 at 5:57am — No Comments

EURUSD Threatens Recovery Above The 1.0847 Level

EURUSD:  The pair may have put in a temporary bottom, having closed higher on a rejection candle ahead of its key support at 1.0847 level. We now envisage a mild recovery higher as long as EUR holds above its June 2015 low at the 1.0807 level. But if violated, expect more weakness to occur towards the 1.0750 level. Further down,  support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level with a turn below that level targeting…

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Added by fxtech on November 6, 2015 at 5:57am — No Comments

GBPUSD Plunges On Further Bearishness, Eyes 1.5241/00 Zone

GBPUSD: GBP tumbled further lower during Thursday trading session leaving risk of more weakness on the cards. It now eyes a move lower towards its nearby support located at the 1.5241 level. On the downside, support lies at the 1.5200 level with a break of here turning attention to the 1.5150 level. Further down, support lies at the 1.5100 level. Below here will set the stage for more weakness towards the 1.5050 level. Its daily RSI is bearish and pointing lower suggesting further weakness.…

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Added by fxtech on November 5, 2015 at 2:23pm — No Comments

EURJPY: Vulnerable While 133.14/43 Zone Caps Upside Pressure

EURJPY: The cross saw a decline on Tuesday and was seen following through lower during Wednesday trading session today. This leaves more risk lower while it trades below its key resistance zone at the 133.14/43. Support comes in at the 132.00 level where a break will aim at the 131.50 level. Further down, a turn below here will shift attention to the 131.50 level with a breach will turn focus to the 131.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely,…

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Added by fxtech on November 4, 2015 at 3:19pm — No Comments

USDJPY: Risk Turns To 121.50/73 Zone On Bull Pressure

USDJPY: With a second day of recovery seeing the pair closing higher on Tuesday, further bullishness is envisaged. It was seen following through higher during early trading today. Beware of the 121.50/73 area because it is key to any full blown bullish offensive. On the upside, resistance resides at the 121.50 level where a cap may be occur again. Further out, we envisage a possible move towards its range top at the 121.99 level. Further out, resistance resides at the 122.50 level with a…

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Added by fxtech on November 4, 2015 at 6:41am — No Comments

EURUSD Follows Through Lower, Sets Up For 1.0900 Level

EURUSD:  EUR continues to look weak and vulnerable to the downside. It is currently weakening following through lower on the back of its Monday losses. Nearby support is located at the 1.0950 level with a break turning risk further lower towards  the 1.0896 level. Further down,  support lies at the 1.0850 level where a violation will aim at the 1.0800 level and subsequently the 1.0750 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance is comes at…

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Added by fxtech on November 3, 2015 at 1:08pm — No Comments

GBPUSD: Risk Of Bear Pressure Builds Up Below The 1.5505/07 Zone

GBPUSD: Having GBP capped its intra day gains at the 1.5505/07 zone to close lower on a rejection candle on Monday, risk of a follow through lower continues to build. On the downside, support lies at the 1.5350 level with a break of here turning attention to the 1.5300 level. Further down, support lies at the 1.5250 level. Below here will set the stage for more weakness towards the 1.5200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance…

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Added by fxtech on November 3, 2015 at 3:56am — No Comments

GOLD Remains On The Defensive On Price Extension.

GOLD: With GOLD weakening further on the back of its past week losses during Monday trading session, additional decline is envisaged. On the downside, support comes in at the 1125.00 level where a break will turn attention to the 1110.00 level. Further down, a cut through here will open the door for a move lower towards the 1100.00 level. Below here if seen could trigger further downside pressure targeting the 1090.00 level. Its daily RSI is bearish and pointing lower suggesting further…

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Added by fxtech on November 2, 2015 at 2:02pm — No Comments

GBPJPY Bull Pressure Eyes The 186.30/72 Region

GBPJPY: The cross may have closed the week flat but still faces upside threats while its key support at the 183.86 level remains unbroken. Its also continues to trade above its rising trendline (red). On the downside, support comes in at the 185.00 level where a violation will aim at the 184.00 level. A break below here will target the 183.00 level followed by the 182.00 level. Conversely, resistance is seen at the 186.72 level followed by the 187.50 level. A cut through will set the stage…

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Added by fxtech on November 2, 2015 at 7:10am — No Comments

EURUSD Broader Bias Continues To Point Lower

EURUSD: The pair may have closed flat the past week, a sign of price exhaustion but it still holds on to broader downside bias. Support is located at the 1.0950 level But if violated, expect more weakness to occur towards the 1.0896 level. Further down,  support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level with a turn below that level targeting the 1.0700 level. Its weekly RSI I bearish and pointing lower supporting…

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Added by fxtech on November 1, 2015 at 6:09pm — No Comments

EURGBP Retains Broader Downside Pressure

EURGBP: The cross closed lower the past week leaving risk of more weakness in the new week. As long as it trades and holds below the 0.7170/96 zone, further weakness cannot be ruled out.  Support comes in at 0.7080 level. Further down, support lies at the 0.7050 level where a violation will turn focus to the 0.7000 level. A break will expose the 0.6950 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lies at the 0.7150 level where a…

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Added by fxtech on November 1, 2015 at 6:12am — No Comments

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