GOLD: Having rejected upside pressure to close lower on Wednesday, further weakness is envisaged. On the downside, support comes in at the 1,260.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,240.00 level. Below here if seen could trigger further downside pressure targeting the 1,230.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,270.00 level where a break will aim at the 1,280.00 level. A turn above there will expose the 1,290.00 level. Further out, resistance stands at the 1,300.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD Rejects Lower Level Prices With Eyes On The Upside
EURUSD: The pair closed higher on a correction the past week. This development has left EUR threatening further upside pressure. On the down, support lies at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will aim at the 1.0850 level. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. All in all, EURUSD faces a recovery threat in the new week.
GOLD: Having remained vulnerable to the downside, more weakness is likely in the new week. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,280.00 level where a break will aim at the 1,290.00 level. A turn above there will expose the 1,300.00 level. Further out, resistance stands at the 1,350.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD: Rallies With Eyes On 1.1122 Resistance Zone
EURUSD: The pair closed strongly higher on Tuesday leaving risk higher in the days ahead towards its key resistance at 1.1122 level. On the down, support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0900 level. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further recovery higher on the days ahead.
USDJPY: With the pair dropping further on Wednesday, further weakness is likely. On the downside, support comes in at the 104.50 level where a break if seen will aim at the 104.00 level. A cut through here will turn focus to the 103.50 level and possibly lower towards the 103.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 105.00 level. Further out, we envisage a possible move towards the 105.50 level. Further out, resistance resides at the 106.00 level with a turn above here aiming at the 106.50 level. On the whole, USDJPY looks to move further lower on corrective pullback.
GOLD: Having rejected lower prices to close on Thursday, risk is now building up on more strength. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to recover higher on further correction.
USDCHF: The pair extended its weakness the past week following its recent bear pressure. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on correction.
EURUSD Eyes Upside Pressure On Further Bullishness
EURUSD: The pair followed through higher leaving risk to the upside in the new week. On the down, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.0000 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURUSD faces further recovery higher.
GOLD: Having held on to its upside pressure, more recovery is envisaged. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to recover higher on correction.
GOLD: Having rejected higher prices on Monday, further weakness is likely. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,330.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD: The pair rejected its intra day gains to close lower on Thursday. This development leaves risk lower in the days ahead. On the down, support lies at the 1.0900 level where a violation will aim at the 1.0850 level. A break of here will aim at the 1.0800 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. All in all, EURUSD faces further downside pressure.
GBPJPY Rallies On Strength With Eyes On The 135.00 Zone
GBPJPY: The cross remains on recovery after rejecting lower level prices on Wednesday. On the downside, support comes in at the 133.00 level where a violation will aim at the 132.00 level. A break below here will target the 131.00 level followed by the 130.00 level. Conversely, resistance is seen at the 135.00 level followed by the 136.00 level. A cut through that level will set the stage for a move further higher towards the 135.00 level. Further out, resistance resides at the 134.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY looks to recover further higher.
USDCHF Faces Further Upside Pressure On Price Rejection
USDCHF: The pair faces further upside pressure after closing higher the past week. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9900 level where a break will clear the way for more strength to occur towards the 0.9950 level. Further out, resistance comes in at the 1.0000 level. All in all, USDCHF remains biased to the downside on correction.
EURUSD Looks To Weaken Further With Eyes On 1.0800 Zone
EURUSD: The pair retains its downside pressure as we enter a new week. This development leaves risk lower. On the down, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Its Daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0900 level with a cut through here opening the door for more upside towards the 1.0950 level. Further up, resistance lies at the 1.1000 level where a break will expose the 1.1050 level. All in all, EURUSD faces further downside pressure.
GOLD: Risk Remains Lower On Additional Bear Pressure
GOLD: Having retained its downside pressure, more weakness is likely. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 1,230.00 level where a break will aim at the 1,240.00 level. A turn above there will expose the 1,250.00 level. Further out, resistance stands at the 1,260.00 level. All in all, GOLD looks to weaken further on correction.
GBPUSD: Eyes Further Downside Pressure On Corrective Weakness
GBPUSD: The pair closed lower on corrective pullback on Monday leaving risk to the downside. On the downside, support lies at the 1.2450 level where a break will turn attention to the 1.2400 level. Further down, support lies at the 1.2350 level. Below here will set the stage for more weakness towards the 1.2300 level. Conversely, resistance stands at the 1.2550 levels with a turn above here allowing more strength to build up towards the 1.2600 level. Further out, resistance resides at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD threatens further weakness on correction.
GOLD: Having halted its downside pressure to close higher on Tuesday, further recovery is expected. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Conversely, resistance resides at the 1,240.00 level where a break will aim at the 1,250.00 level. A turn above there will expose the 1,260.00 level. Further out, resistance stands at the 1,270.00 level. All in all, GOLD looks to weaken further on correction.
EURUSD: Halts Weakness On Loss Of Downside Momentum
EURUSD: The pair has halted its weakness and turned higher suggesting further recovery in the days ahead. On the 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. Conversely, on the upside, resistance comes in at 1.0750 level with a cut through here opening the door for more upside towards the 1.0800 level. Further up, resistance lies at the 1.0850 level where a break will expose the 1.0900 level. All in all, EURUSD faces corrective upside pressure.
EURUSD: The pair weakened further the past week leaving risk lower in the new week. On the down, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. All in all, EURUSD faces further downside pressure in the new week.
GOLD: Having the commodity closed lower the past week, further bearishness is envisaged. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 level. All in all, GOLD looks to weaken further on correction.
GBPUSD: The pair closed higher on Monday leaving risk higher in the days ahead. On the downside, support lies at the 1.2450 level where a break will turn attention to the 1.2400 level. Further down, support lies at the 1.2350 level. Below here will set the stage for more weakness towards the 1.2300 level. Conversely, resistance stands at the 1.2550 levels with a turn above here allowing more strength to build up towards the 1.2600 level. Further out, resistance resides at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD threatens further weakness on correction.
EURUSD: Halts Weakness, Recovery Risk Remains On The Cards
EURUSD: The pair continues to retain its broader downside pressure but faces corrective recovery threats in the new week after halting its broader weakness the past week. On the down, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Conversely, on the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. All in all, EURUSD faces further downside pressure.
EURUSD Rejects Higher Level Prices With Risk More Weakness Envisaged
EURUSD: The pair continues to retain its broader downside pressure having rejected higher prices on Monday. This development leaves EURUSD vulnerable to the downside in the days ahead. On the down, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Conversely, on the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. All in all, EURUSD faces further downside pressure.
EURJPY: The pair resumed its medium term on Wednesday leaving risk of additional strength on the cards in the days ahead. On the downside, support comes in at the 120.00 level where a break will aim at the 119.50 level. A turn below here will target the 119.00 level with a breach turning focus to the 118.50 level. Conversely, resistance lies at the 121.00 level. Further out, resistance comes in at the 122.00 level where a break if seen will threaten further upside towards the 122.50. Further out, resistance resides at the 123.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURJPY eyes further upside pressure medium term.
CRUDE OIL: With the commodity rallying for two days in a row, more price extension is likely in the days ahead. On the downside, support resides at the 51.00 level where a break will expose the 50.00 level. A cut through here will set the stage for a run at the 49.00 level. Further down, support resides at the 48.00 level. On the upside, resistance resides at the 52.00 level. Further out, resistance comes in at the 53.00 level. A break above here will aim at the 54.00 level and then the 55.00 level followed by the 56.00 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, CRUDE OIL remains biased to the upside on bull pressure.
EURUSD Retains Recovery Threats With Eyes On 1.0759 Zone
EURUSD: The pair continues to seek for recovery though closing marginally higher on Friday. On the down, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. Conversely, on the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bullish and pointing higher suggesting further corrective recovery. All in all, EURUSD faces further downside pressure.
EURUSD: The pair rejected higher prices to sell off and close lower the past week. On the down, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. All in all, EURUSD faces further Downside pressure.
EURUSD: Retains Its Broader Downside Bias But With Caution
EURUSD: The pair continues to hold on to its downside pressure leaving risk lower in the new week. However, we could see a mild price recovery higher. On the down, support lies at the 1.0400 level where a violation will aim at the 1.0350 level. A break of here will aim at the 1.0300 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0500 level with a cut through here opening the door for more upside towards the 1.0550 level. Further up, resistance lies at the 1.0600 level where a break will expose the 1.0650 level. All in all, EURUSD faces further Downside pressure.
GOLD: The commodity continues to hold on to its downside pressure as it looks to weaken further in the new week. On the downside, support comes in at the 1,120.00 level where a break will turn attention to the 1,110.00 level. Further down, a cut through here will open the door for a move lower towards the 1,100.00 level. Below here if seen could trigger further downside pressure targeting the 1,090.00 level. Conversely, resistance resides at the 1,140.00 level where a break will aim at the 1,150.00 level. A turn above there will expose the 1,160.00 level. Further out, resistance stands at the 1,170.00 level. All in all, GOLD looks to weaken further on trend resumption.
GBPUSD: The pair remains vulnerable to the downside having continued to face bear pressure. On the downside, support lies at the 1.2300 level where a break will turn attention to the 1.2250 level. Further down, support lies at the 1.2200 level. Below here will set the stage for more weakness towards the 1.2150 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.2400 levels with a turn above here allowing more strength to build up towards the 1.2450 level. Further out, resistance resides at the 1.2500 level followed by the 1.2550 level. On the whole, GBPUSD threatens further downside pressure.
Comments
GOLD: Having rejected upside pressure to close lower on Wednesday, further weakness is envisaged. On the downside, support comes in at the 1,260.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,240.00 level. Below here if seen could trigger further downside pressure targeting the 1,230.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,270.00 level where a break will aim at the 1,280.00 level. A turn above there will expose the 1,290.00 level. Further out, resistance stands at the 1,300.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD: The pair closed higher on a correction the past week. This development has left EUR threatening further upside pressure. On the down, support lies at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will aim at the 1.0850 level. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. All in all, EURUSD faces a recovery threat in the new week.
GOLD: Having remained vulnerable to the downside, more weakness is likely in the new week. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,280.00 level where a break will aim at the 1,290.00 level. A turn above there will expose the 1,300.00 level. Further out, resistance stands at the 1,350.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD: The pair closed strongly higher on Tuesday leaving risk higher in the days ahead towards its key resistance at 1.1122 level. On the down, support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0900 level. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further recovery higher on the days ahead.
USDJPY: With the pair dropping further on Wednesday, further weakness is likely. On the downside, support comes in at the 104.50 level where a break if seen will aim at the 104.00 level. A cut through here will turn focus to the 103.50 level and possibly lower towards the 103.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 105.00 level. Further out, we envisage a possible move towards the 105.50 level. Further out, resistance resides at the 106.00 level with a turn above here aiming at the 106.50 level. On the whole, USDJPY looks to move further lower on corrective pullback.
GOLD: Having rejected lower prices to close on Thursday, risk is now building up on more strength. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to recover higher on further correction.
USDCHF: The pair extended its weakness the past week following its recent bear pressure. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on correction.
EURUSD: The pair followed through higher leaving risk to the upside in the new week. On the down, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.0000 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURUSD faces further recovery higher.
GOLD: Having held on to its upside pressure, more recovery is envisaged. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to recover higher on correction.
GOLD: Having rejected higher prices on Monday, further weakness is likely. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,330.00 level. All in all, GOLD looks to recover higher on correction.
EURUSD: The pair rejected its intra day gains to close lower on Thursday. This development leaves risk lower in the days ahead. On the down, support lies at the 1.0900 level where a violation will aim at the 1.0850 level. A break of here will aim at the 1.0800 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. All in all, EURUSD faces further downside pressure.
GBPJPY: The cross remains on recovery after rejecting lower level prices on Wednesday. On the downside, support comes in at the 133.00 level where a violation will aim at the 132.00 level. A break below here will target the 131.00 level followed by the 130.00 level. Conversely, resistance is seen at the 135.00 level followed by the 136.00 level. A cut through that level will set the stage for a move further higher towards the 135.00 level. Further out, resistance resides at the 134.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY looks to recover further higher.
USDCHF: The pair faces further upside pressure after closing higher the past week. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9900 level where a break will clear the way for more strength to occur towards the 0.9950 level. Further out, resistance comes in at the 1.0000 level. All in all, USDCHF remains biased to the downside on correction.
EURUSD: The pair retains its downside pressure as we enter a new week. This development leaves risk lower. On the down, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Its Daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0900 level with a cut through here opening the door for more upside towards the 1.0950 level. Further up, resistance lies at the 1.1000 level where a break will expose the 1.1050 level. All in all, EURUSD faces further downside pressure.
GOLD: Having retained its downside pressure, more weakness is likely. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 1,230.00 level where a break will aim at the 1,240.00 level. A turn above there will expose the 1,250.00 level. Further out, resistance stands at the 1,260.00 level. All in all, GOLD looks to weaken further on correction.
GBPUSD: The pair closed lower on corrective pullback on Monday leaving risk to the downside. On the downside, support lies at the 1.2450 level where a break will turn attention to the 1.2400 level. Further down, support lies at the 1.2350 level. Below here will set the stage for more weakness towards the 1.2300 level. Conversely, resistance stands at the 1.2550 levels with a turn above here allowing more strength to build up towards the 1.2600 level. Further out, resistance resides at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD threatens further weakness on correction.
GOLD: Having halted its downside pressure to close higher on Tuesday, further recovery is expected. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Conversely, resistance resides at the 1,240.00 level where a break will aim at the 1,250.00 level. A turn above there will expose the 1,260.00 level. Further out, resistance stands at the 1,270.00 level. All in all, GOLD looks to weaken further on correction.
EURUSD: The pair has halted its weakness and turned higher suggesting further recovery in the days ahead. On the 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. Conversely, on the upside, resistance comes in at 1.0750 level with a cut through here opening the door for more upside towards the 1.0800 level. Further up, resistance lies at the 1.0850 level where a break will expose the 1.0900 level. All in all, EURUSD faces corrective upside pressure.
EURUSD: The pair weakened further the past week leaving risk lower in the new week. On the down, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. All in all, EURUSD faces further downside pressure in the new week.
GOLD: Having the commodity closed lower the past week, further bearishness is envisaged. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 level. All in all, GOLD looks to weaken further on correction.
GBPUSD: The pair closed higher on Monday leaving risk higher in the days ahead. On the downside, support lies at the 1.2450 level where a break will turn attention to the 1.2400 level. Further down, support lies at the 1.2350 level. Below here will set the stage for more weakness towards the 1.2300 level. Conversely, resistance stands at the 1.2550 levels with a turn above here allowing more strength to build up towards the 1.2600 level. Further out, resistance resides at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD threatens further weakness on correction.
EURUSD: The pair continues to retain its broader downside pressure but faces corrective recovery threats in the new week after halting its broader weakness the past week. On the down, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Conversely, on the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. All in all, EURUSD faces further downside pressure.
EURUSD: The pair continues to retain its broader downside pressure having rejected higher prices on Monday. This development leaves EURUSD vulnerable to the downside in the days ahead. On the down, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Conversely, on the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. All in all, EURUSD faces further downside pressure.
EURJPY: The pair resumed its medium term on Wednesday leaving risk of additional strength on the cards in the days ahead. On the downside, support comes in at the 120.00 level where a break will aim at the 119.50 level. A turn below here will target the 119.00 level with a breach turning focus to the 118.50 level. Conversely, resistance lies at the 121.00 level. Further out, resistance comes in at the 122.00 level where a break if seen will threaten further upside towards the 122.50. Further out, resistance resides at the 123.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURJPY eyes further upside pressure medium term.
CRUDE OIL: With the commodity rallying for two days in a row, more price extension is likely in the days ahead. On the downside, support resides at the 51.00 level where a break will expose the 50.00 level. A cut through here will set the stage for a run at the 49.00 level. Further down, support resides at the 48.00 level. On the upside, resistance resides at the 52.00 level. Further out, resistance comes in at the 53.00 level. A break above here will aim at the 54.00 level and then the 55.00 level followed by the 56.00 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, CRUDE OIL remains biased to the upside on bull pressure.
EURUSD: The pair continues to seek for recovery though closing marginally higher on Friday. On the down, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. Conversely, on the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bullish and pointing higher suggesting further corrective recovery. All in all, EURUSD faces further downside pressure.
EURUSD: The pair rejected higher prices to sell off and close lower the past week. On the down, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. All in all, EURUSD faces further Downside pressure.
EURUSD: The pair continues to hold on to its downside pressure leaving risk lower in the new week. However, we could see a mild price recovery higher. On the down, support lies at the 1.0400 level where a violation will aim at the 1.0350 level. A break of here will aim at the 1.0300 level. Its daily RSI is bearish and pointing suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0500 level with a cut through here opening the door for more upside towards the 1.0550 level. Further up, resistance lies at the 1.0600 level where a break will expose the 1.0650 level. All in all, EURUSD faces further Downside pressure.
GOLD: The commodity continues to hold on to its downside pressure as it looks to weaken further in the new week. On the downside, support comes in at the 1,120.00 level where a break will turn attention to the 1,110.00 level. Further down, a cut through here will open the door for a move lower towards the 1,100.00 level. Below here if seen could trigger further downside pressure targeting the 1,090.00 level. Conversely, resistance resides at the 1,140.00 level where a break will aim at the 1,150.00 level. A turn above there will expose the 1,160.00 level. Further out, resistance stands at the 1,170.00 level. All in all, GOLD looks to weaken further on trend resumption.
GBPUSD: The pair remains vulnerable to the downside having continued to face bear pressure. On the downside, support lies at the 1.2300 level where a break will turn attention to the 1.2250 level. Further down, support lies at the 1.2200 level. Below here will set the stage for more weakness towards the 1.2150 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.2400 levels with a turn above here allowing more strength to build up towards the 1.2450 level. Further out, resistance resides at the 1.2500 level followed by the 1.2550 level. On the whole, GBPUSD threatens further downside pressure.