Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

EURUSD Eyes Further Upside Pressure On Bull Pressure.

EURUSD eyes further upside pressure on bull pressure as we enter a new week. Support comes in at the 1.1300 where a violation will turn risk to the 1.1250 level. A break below here will target the 1.1200 level. Further down, support sits at the 1.1150. Conversely, on the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD expects more recovery in the new week.

 

[Kaneab]

Forex market is a technical market and technical analysis play a crucial role in the success of a trader. I think we must have to work deeply on the technical analysis. If we get command in this field then we will get success as a trader. What do you people think?

 

[FXTechstrategy]

USDCHF Turns Off Higher Level Prices

USDCHF turns off higher level prices leaving risks of more weakness on the cards. 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 daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains weak and vulnerable on price rejection.

 

[FXTechstrategy]

EURUSD Looks To Weaken Further Lower Towards 1.1282

EURUSD looks to weaken further lower towards 1.1282. Support comes in at the 1.1350 where a violation will turn risk to the 1.1300 level. A break below here will target the 1.1250 level. Further down, support sits at the 1.1200. Conversely, on the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD expects more weakness on correction.

 

[FXTechstrategy]

GOLD Trades Below Key Resistance Zones

GOLD trades below key resistance zones as it looks to follow through lower on the back of its price rejection. On the downside, support comes in at the 1,408.00 level where a break will turn attention to the 1,400.00 level. Further down, a cut through here will open the door for a move lower towards the 1,390.00 level. Below here if seen could trigger further downside pressure targeting the 1,380.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 1,420.00 level. Further out, resistance resides at the 1,430.00 level where a break will aim at the 1,440.00 level. A turn above there will expose the 1,450.00 level. Further out, resistance stands at the 1,460.00 level. All in all, GOLD looks to weaken further on corrective pullbacks

 

[FXTechstrategy]

GOLD Nearer Term Price Weakness Remains Valid

GOLD nearer term price weakness remains valid as it looks for more weakness. On the downside, support comes in at the 1,390.00 level where a break will turn attention to the 1,380.00 level. Further down, a cut through here will open the door for a move lower towards the 1,370.00 level. Below here if seen could trigger further downside pressure targeting the 1,360.00 level. Conversely, resistance resides at the 1,400.00 level. Further out, resistance resides at the 1,410.00 level where a break will aim at the 1,420.00 level. A turn above there will expose the 1,430.00 level. Further out, resistance stands at the 1,440.00 level. All in all, GOLD looks to strengthen further in the short term.

 

[FXTechstrategy]

AUDUSD Downside Pressure Remains Towards 0.6850

AUDUSD downside pressure remains towards 0.6850 level as we expect more weakness to occur. On the upside, resistance lies at the 1.6950 level. A cut through here will turn attention to the 0.7000 level and then the 0.7150 level where a violation will set the stage for a retarget of the 0.7200 level. Support resides at the 0.6850 level where a breach will aim at the 0.6800 level. Below here will set the stage for a run at the 0.6750 level with a cut through here targeting further downside pressure towards the 0.6700 level. On the whole, AUDUSD faces further downside threats medium term.

 

[FXTechstrategy]

EURUSD Price Strength Builds Up On 1.1311 Region

EURUSD price strength builds up on 1.1311 region as it closed higher on reversal 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 comes in at 1.1300 level with a break through there opening the door for further upside towards the 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD looks for more recovery to occur in the days ahead.

 

[FXTechstrategy]

EURUSD Eyes Further Recovery Short Term

EURUSD eyes further recovery short term as it looks to extend gain in the new week. 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 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD expects more recovery to occur in the days ahead.

 

[FXTechstrategy]

GBPUSD Corrective Bull Pressure Remains Intact

GBPUSD corrective bull pressure remains intact as we look for price extension. Support comes in at 1.2500 with a turn below that level shifting focus to the 1.2450 level. Further down, support resides at the 1.2400 level where a break will turn attention to the 1.2350 level. Further down, support lies at the 1.2300 level. On the upside, resistance stands at the 1.2550 with a turn above here allowing for additional strength to build up towards the 1.2600 level. Further out, resistance stands at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD looks to recover further higher on correction.