Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

EURUSD Risk Turns Lower Towards 1.1051/26 Support Zone

EURUSD risk turns lower towards 1.1051/25 support zone as it retains downside pressure. Support comes in at the 1.1050 where a violation will turn risk to the 1.1000 level. A break below here will target the 1.0950 level. Further down, support sits at the 1.0900. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1150 level with a violation of there opening the door for further gain towards the 1.1200 level. Further up, resistance lies at the 1.1250 level. A cut through that level will clear the way for a move towards the 1.1300 level. All in all, EURUSD expects more weakness in the days ahead.

 

[FXTechstrategy]

GOLD Trades Below Key Support On Correction.

GOLD trades below key support on correction as it remains vulnerable. On the downside, support comes in at the 1,520.00 level where a break will turn attention to the 1,510.00 level. Further down, a cut through here will open the door for a move lower towards the 1,500.00 level. Below here if seen could trigger further downside pressure targeting the 1,490.00 level. Conversely, resistance resides at the 1,540.00 level. Further out, resistance resides at the 1,550.00 level where a break will aim at the 1,560.00 level. A turn above there will expose the 1,570.00 level. Further out, resistance stands at the 1,580.00 level. All in all, GOLD looks to weaken further on corrective pullbacks.

 

[FXTechstrategy]

USDCHF Bull Pressure Eyes The 0.9974 Resistance Zone

USDCHF bull pressure eyes the 0.9974 resistance zone in the new week. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9850 level with a turn below here opening the door for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support comes in at the 0.9700 level. All in all, USDCHF remains biased to the upside on further bull pressure.

 

[FXTechstrategy]

GOLD Faces Pullback Threats On Price Rejection

GOLD faces pullback threats on price rejection as we enter a new week. On the downside, support comes in at the 1,510.00 level where a break will turn attention to the 1,500.00 level. Further down, a cut through here will open the door for a move lower towards the 1,490.00 level. Below here if seen could trigger further downside pressure targeting the 1,480.00 level. Conversely, resistance resides at the 1,530.00 level. Further out, resistance resides at the 1,540.00 level where a break will aim at the 1,550.00 level. A turn above there will expose the 1,560.00 level. Further out, resistance stands at the 1,570.00 level. All in all, GOLD looks to weaken further on corrective pullbacks

 

[FXTechstrategy]

GBPUSD Declines On Bear Pressure With Eyes On 1.2014 Zone

GBPUSD declines on bear pressure with eyes on 1.2014 zone in the days ahead. Support lies at 1.2014/00 area with a break below that level turning attention to the 1.1950 level. Further down, support lies at the 1.1900 level where a violation will shift focus to the 1.1850 level. Below here will open the door towards the 1.1800 level. On the upside, resistance is located at the 1.2100 with a break above there allowing for morel strength to build up towards the 1.2150 level. Further out, resistance stands at the 1.2200 level followed by the 1.2250 level. On the whole, GBPUSD retains its downside pressure with eyes on 1.2014/00 area.

 

[FXTechstrategy]

EURUSD Rallies Strongly With Eyes On 1.1051 Area

EURUSD rallies strongly with eyes on 1.1051 area as it looks for more recovery. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. Conversely, on the upside, resistance comes in at 1.1100 level with a violation of there opening the door for further gain towards the 1.1150 level. Further up, resistance lies at the 1.1200 level. A cut through that level will clear the way for a move towards the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD expects more recovery in the days ahead.

 

[FXTechstrategy]

GOLD Sets Up To Trigger Long Term Uptrend

GOLD sets up to trigger long term uptrend as it closing further higher on Wednesday. On the downside, support sits at the 1,540.00 level where a break will turn focus to the 1,530.00 level. Further down, a cut through here will open the door for a move decline towards the 1,520.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,510.00 level. Conversely, resistance resides at the 1,560.00 level. Further out, resistance resides at the 1,570.00 level where a break will aim at the 1,580.00 level. A turn above there will expose the 1,590.00 level. Further out, resistance stands at the 1,600.00 level. All in all, GOLD looks to strengthen further on bull pressure.

 

[FXTechstrategy]

USDCHF looks to extend its short term recovery pressure. Resistance comes in at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support is located at the 0.9850 level with a turn below here opening the door for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support comes in at the 0.9700 level. All in all, USDCHF remains biased to the upside on price extension

 

[FXTechstrategy]

EURUSD Continues To Retain Its Broader Downside Pressure

EURUSD continues to retain its broader downside pressure as it holds on ti its broader medium term weakness. Support comes in at the 1.1000 where a break will turn risk to the 1.0950 level. A breach below here will target the 1.0900 level. Further down, support stands at the 1.0850. Conversely, on the upside, resistance comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more weakness in the days ahead

 

[FXTechstrategy]

GBPUSD Resumes Its Corrective Recovery Strength

GBPUSD resumes its corrective recovery strength with eyes on the 1.2459 level. Support lies at 1.2300 area with a break below that level turning attention to the 1.2250 level. Further down, support lies at the 1.2200 level where a violation will shift focus to the 1.2150 level. Below here will open the door towards the 1.2100 level. On the upside, resistance is located at the 1.2400 with a break above there allowing for morel strength to build up towards the 1.2459 level. Further out, resistance stands at the 1.2517 level followed by the 1.2558 level. On the whole, GBPUSD retains its upside pressure on further corrective recovery.