Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

EURUSD Holds Off The 1.1106 Key Support Zone

EURUSD holds off the 1.1106 key support zone as it looks to recover further higher. Support comes in at the 1.1150 where a violation will turn risk to the 1.1050 level. A break below here will target the 1.1000 level. Further down, support sits at the 1.0950. Conversely, on the upside, resistance resides at 1.1150 level with a break through there opening the door for further upside towards the 1.1200 level. Further up, resistance comes in at the 1.1250 level where a violation will expose the 1.1300 level. All in all, EURUSD continues to threaten further upside pressure on correction.

 

[FXTechstrategy]

EURGBP Looks To weaken Further Lower On Correction

EURGBP looks to weaken further lower on correction as it retains its downside pressure. On the downside, support stands at the 0.8800 level where a violation will turn focus to the 0.8750 level. A break below here will aim at the 0.8700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.8900 level. A violation if seen will turn risk towards the 0.8950 level. Further up, resistance comes in at 0.9000 level followed by the 0.9050 level. All in all, EURGBP remains biased to the upside on more recovery

 

[FXTechstrategy]

EURUSD Rejects Higher Prices, Weakens

EURUSD rejects higher prices, weakens as it lost upside pressure on Wednesday. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Conversely, on the upside, resistance resides at 1.1300 level with a break through there opening the door for further upside towards the 1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD continues to threaten further upside pressure on correction.

 

[FXTechstrategy]

EURGBP Bullish With Further Price Extension

EURGBP bullish with further price extension expected in the new week. On the downside, support stands at the 0.8850 level where a violation will turn focus to the 0.8800 level. A break below here will aim at the 0.8750 level.. Conversely, resistance lies at the 0.8950 level. A violation if seen will turn risk towards the 0.9000 level. Further up, resistance comes in at 0.9050 level followed by the 0.9100 level. All in all, EURGBP remains biased to the upside on more recovery gain

 

[FXTechstrategy]

USDCHF Declines With Eyes On Support At 0.9853 Level

USDCHF declines with eyes on support at 0.9853 level. This is supportive of its current short term weakness. Resistance resides at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance comes in at the 1.0100 level. On the downside, support is seen at the 0.9850 level with a turn below here setting the stage for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support resides at the 0.9700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF targets further weakness in the days ahead.

 

[FXTechstrategy]

GBPUSD Sees Price Reversal With Eyes On The Upside

GBPUSD sees price reversal with eyes on the upside in the days ahead. Support lies at 1.2700 as it looks for more weakness. Below that level will turn attention to the 1.2650 level. Further down, support comes in at the 1.2600 level where a break will turn focus to the 1.2550 level. Further down, support lies at the 1.2500 level. On the upside, resistance stands at the 1.2750 with a turn above here allowing for additional strength to build up towards the 1.2800 level. Further out, resistance stands at the 1.2850 level followed by the 1.2900 level. On the whole, GBPUSD sees price reversal with eyes on the upside.

 

[FXTechstrategy]

USDCHF Recovery Threats Expected In The New Week

USDCHF recovery threats expected in the new week following its past week gain. Resistance resides at the 1.0000 level. Above here, resistance lies at the 1.0050 level and then the 1.0100 level. Further out, resistance comes in at the 1.0150 level. Its weekly RSI is bullish and pointing higher suggesting further upside pressure. On the downside, support is seen at the 0.9950 level with a turn below here opening the door for more decline towards the 0.9900 level. And then the 0.9850 level. Further down, support resides at the 0.9800 level. All in all, USDCHF targets further recovery on correction.

 

[FXTechstrategy]

CRUDE OIL Recovers Further Higher On Correction

CRUDE OIL recovers further higher on correction. Support lies at the 53.00 level where a break will expose the 52.30 level. A cut through here will set the stage for a run at the 52.00 level. Further down, support comes in at the 51.50 level. On the upside, resistance resides at the 53.50 levels. Further out, resistance comes in at the 54.00 level. A break above here will aim at the 54.50 level and then the 55.00 level followed by the 55.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, CRUDE OIL recovers further higher on correction.

 

[FXTechstrategy]

EURUSD Remains Bullish With Eyes On 1.1347 Resistance

EURUSD remains bullish with eyes on 1.1347 resistance in the days ahead. Support comes in at the 1.1250 where a violation will turn risk to the 1.1200 level. A break below here will target the 1.1150 level. Further down, support sits at the 1.1100. Conversely, on the upside, resistance resides at 1.1347 level with a break through there opening the door for further upside towards the 1.1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD expects more recovery to occur in the days ahead.

 

[FXTechstrategy]

USDCHF Tumbles Lower On Bearishness

USDCHF tumbles lower on bearishness with more weakness expected in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9700 level with a turn below here opening the door for more decline towards the 0.9650 level. And then the 0.9600 level. Further down, support resides at the 0.9550 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF targets further weakness in the days ahead.