Daily Technical Strategy On Currencies & Commodities

Discussion in 'Technical Analysis' started by FXTechstrategy, Jul 27, 2017.

  1. FXTechstrategy

    FXTechstrategy Active Trader

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    GBPJPY Faces Further Price Extension On Sell Off

    GBPJPY faces further price extension on sell off. This development now eyes the 143.50 level as the next support. A violation will aim at the 144.00 level. A break below here will target the 143.50 level followed by the 143.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 145.50 level followed by the 146.00 level. A cut through that level will set the stage for a move further higher towards the 146.50 level. Further out, resistance resides at the 147.00 level. All in all, GBPJPY faces further downside pressure on more sell off.
     
  2. FXTechstrategy

    FXTechstrategy Active Trader

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    AUDUSD Upside Momentum Stalled, Eyes More Correction

    AUDUSD upside momentum stalled with eyes on more weakness in the days ahead. On the upside, resistance lies at the 1.7350 level. A cut through here will turn attention to the 0.7400 level and then the 0.7450 level where a violation will set the stage for a retarget of the 0.7500 level. Support resides at the 0.7250 level where a breach will aim at the 0.7200 level. Below here will set the stage for a run at the 0.7150 level with a cut through here targeting further downside pressure towards the 0.7100 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the whole, AUDUSD faces further upside threats.
     
  3. FXTechstrategy

    FXTechstrategy Active Trader

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    EURGBP Continues To Target Higher Prices

    EURGBP faces further recovery threats following its higher close the past week. On the downside, support stands at the 0.8900 level where a violation will turn focus to the 0.8850 level. A break below here will aim at the 0.8800 level. 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. Its weekly RSI is bullish and pointing higher suggesting more strength. All in all, EURGBP remains biased to the upside on further bull pressure
     
  4. FXTechstrategy

    FXTechstrategy Active Trader

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    USDJPY Bull Pressure Builds Up On 113.81 Resistance Zone

    USDJPY bull pressure builds up on113.81 resistance zone and now leaves risk of a move towards the 113.81. On the upside, resistance comes in at 114.00 level. Above here will turn attention to the 114.50 level. Further out, we expect a possible move towards the 115.00 level if the earlier resistance is taken out. Above here will open the door for more gain towards the 115.50. On the downside, support comes in at the 113.00 level where a break will target the 112.50 level. Below that level will turn focus to the 112.00 level and then lower towards the 111.50 level. On the whole, USDJPY faces further upside pressure on more upside.
     
  5. FXTechstrategy

    FXTechstrategy Active Trader

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    GBPJPY Eyes Further Bear Pressure On Correction

    GBPJPY eyes further bear pressure on correction as it targets the 141.50 level. On the downside, support comes in at the 141.00 level where a violation will aim at the 140.50 level. A break below here will target the 140.00 level followed by the 139.50 level. Conversely, resistance is seen at the 142.50 level followed by the 143.00 level. A cut through that level will set the stage for a move further higher towards the 143.50 level. Further out, resistance resides at the 144.00 level. All in all, GBPJPY faces further downside pressure with eyes on key support.
     
  6. FXTechstrategy

    FXTechstrategy Active Trader

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    AUDUSD Remains Vulnerable To The Downside

    AUDUSD remains vulnerable to the downside as it looks to resume its broader weakness. On the upside, resistance lies at the 1.7250 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. Support resides at the 0.7150 level where a breach will aim at the 0.7100 level. Below here will set the stage for a run at the 0.7050 level with a cut through here targeting further downside pressure towards the 0.7000 level. On the whole, AUDUSD faces further downside threats.
     
  7. FXTechstrategy

    FXTechstrategy Active Trader

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    EURJPY Maintains Downside Pressure With Eyes On 126.62 Level

    EURJPY maintains downside pressure with eyes on 126.62 level. On the downside, support comes in at the 126.50 level where a break if seen will aim at the 126.00 level. A cut through here will turn focus to the 125.50 level and possibly lower towards the 125.00 level. On the upside, resistance resides at the 127.50 level. Further out, we envisage a possible move towards the 128.00 level. Further out, resistance resides at the 128.50 level with a turn above here aiming at the 129.00 level. On the whole, EURJPY faces further downside threats.
     
  8. FXTechstrategy

    FXTechstrategy Active Trader

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    EURUSD Risk Remains Higher With Eyes On 1.1499 Zone

    EURUSD risk remains higher with eyes on 1.1499 zone. Support comes in at the 1.1400 where a violation will aim at the 1.1350 level. A break below here will target the 1.1300 level. Further down, support lies at the 1.1250. On the upside, resistance resides at 1.1500 level with a break through there opening the door for further upside towards the 1.1550 level. Further up, resistance comes in at the 1.1600 level where a violation will expose the 1.1650 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, EURUSD continues to threaten further upside.
     
  9. FXTechstrategy

    FXTechstrategy Active Trader

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    EURUSD Eyes Recovery Threats Towards 1.1496 Zone

    EURUSD eyes recovery threats towards 1.1496 zone. Support comes in at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will target the 1.1250 level. Further down, support lies at the 1.1200. On the upside, resistance comes at 1.1400 level with a break through there opening the door for further upside towards the 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 continues to threaten further upside pressure.
     
  10. FXTechstrategy

    FXTechstrategy Active Trader

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    GBPUSD Sets Up To Recover Further Higher On Bull Pressure

    GBPUSD sets up to recover further higher on bull pressure following its Friday positive close. Support is seen at 1.2700 level. Further down, support comes in at the 1.2650 level where a break will turn focus to the 1.2600 level. Further down, support lies at the 1.2550 level. Below here will set the stage for more weakness towards the 1.2500 level. On the upside, resistance stands at the 1.2800 with a turn above here allowing for additional strength to build up towards the 1.2850 level. Further out, resistance stands at the 1.2900 level followed by the 1.2950 level. On the whole, GBPUSD faces further upside pressure on recovery.
     
  11. FXTechstrategy

    FXTechstrategy Active Trader

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    AUDUSD Retains Corrective Recovery Bias

    AUDUSD retains corrective recovery bias with eyes on more strength in the days ahead. On the upside, resistance lies at the 1.7150 level. A cut through here will turn attention to the 0.7200 level and then the 0.7250 level where a violation will set the stage for a retarget of the 0.7300 level. Its daily RSI is bullish and pointing higher suggesting further strength. Support resides at the 0.7100 level where a breach will aim at the 0.7050 level. Below here will set the stage for a run at the 0.7000 level with a cut through here targeting further downside pressure towards the 0.6950 level. On the whole, AUDUSD faces further downside threats.
     
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  12. FXTechstrategy

    FXTechstrategy Active Trader

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    NZDUSD Resumes Recovery Strength, Bullish

    NZDUSD resumes recovery strength as it eyes a move further higher towards the 0.6800 resistance zone. Above here will target the 0.6850 level where a break will turn attention to the 0.6900 level. A break of here will have to occur to create scope for a move towards the 0.6950 level. Further out, resistance resides at the 0.7000 level. Its daily RSI is bullish and pointing higher suggesting further upside. Support stands at the 0.6750 level. Further down, the 0.6700 level comes in as the next downside target and then the 0.6650 level. All in all, NZDUSD faces further upside pressure on recovery.
     
  13. FXTechstrategy

    FXTechstrategy Active Trader

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    CRUDE OIL Retains Its Bullish Offensive Short Term

    CRUDE OIL retains its bullish offensive short term as it looks for more strength. Support lies at the 52.00 level where a break will expose the 51.50 level. A cut through here will set the stage for a run at the 51.00 level. Further down, support comes in at the 50.50 level. On the upside, resistance resides at the 53.00 level. Further out, resistance comes in at the 53.50 level. A break above here will aim at the 54.00 level and then the 54.50 level followed by the 55.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside in the short term
     
  14. FXTechstrategy

    FXTechstrategy Active Trader

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    USDCHF Sees Price Halt With Recovery Risk

    USDCHF sees price halt with recovery risk expected in the new week. This leaves resistance residing at the 0.9850 level as the next upside target. A break of here will clear the way for more gain towards the 0.9900 level. Above here, resistance comes in at the 0.9950 level and then the 1.0000 level. On the downside, support is seen at the 0.9800 level. A turn below there will set the stage for more decline towards the 0.9750 level. And then the 0.9700 level. All in all, USDCHF faces further upside threats on a possible corrective recovery higher.
     
  15. FXTechstrategy

    FXTechstrategy Active Trader

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    GOLD Remains Vulnerable Below Key Resistance At 1,2987.55 Level

    GOLD remains vulnerable below key resistance at 1,298.55 level as it looks for more weakness. commodity looks to pullback as it rejected higher prices the past week. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 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 1,320.00 level. All in all, GOLD looks to move further lower on correction.
     
  16. FXTechstrategy

    FXTechstrategy Active Trader

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    GBPUSD Bearish, Sets Up To Weaken Further On Corrective Pressure

    GBPUSD sets up to weaken further corrective pressure following its rejection of upside pressure. Support is seen at 1.2700 level. Further down, support comes in at the 1.2650 level where a break will turn focus to the 1.2600 level. Further down, support lies at the 1.2550 level. Below here will set the stage for more weakness towards 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 1.9000 level. On the whole, GBPUSD faces further downside pressure
     
  17. FXTechstrategy

    FXTechstrategy Active Trader

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    USDJPY Remains Biased To The Upside On Corrective Recovery.

    USDJPY remains biased to upside on corrective as we expect more strength in the days ahead. On the upside, resistance comes in at 109.00 level. Above here will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level if the earlier resistance is taken out. A break of here will open the door for more gain towards the 110.50. Its daily RSI is bearish and pointing higher suggesting further weakness. On the downside, support comes in at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further upside on corrective recovery.
     
  18. FXTechstrategy

    FXTechstrategy Active Trader

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    GBPUSD Targets Further Upside Pressure Towards 1.3000/29 Zone

    GBPUSD targets further upside pressure towards 1.3000/29 zone. Support is seen at 1.2950 level. Further down, support comes in at the 1.2900 level where a break will turn focus to the 1.2850 level. Further down, support lies at the 1.2800 level. Below here will set the stage for more weakness towards the 1.2750 level. On the upside, resistance stands at the 1.3000 with a turn above here allowing for additional strength to build up towards the 1.3050 level. Further out, resistance stands at the 1.3100 level followed by the 1.3150 level. On the whole, GBPUSD faces further upside pressure.
     
  19. FXTechstrategy

    FXTechstrategy Active Trader

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    EURJPY Looks To Recover Further Higher Towards 125.08 Zone

    EURJPY looks to recover further higher towards 125.08 zone as it eyes price extension. Support comes in at the 124.50 level where a break if seen will aim at the 124.00 level. A cut through here will turn focus to the 123.50 level and possibly lower towards the 123.00 level. On the upside, resistance resides at the 125.08 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further price recovery towards its key resistance at 125.08 and beyond.
     
  20. FXTechstrategy

    FXTechstrategy Active Trader

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    EURUSD Continues To Retain Downside Pressure Short Term

    EURUSD continues to retain downside pressure following its past week losses. Support comes in at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will target the 1.1250 level. Further down, support lies at the 1.1200. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at 1.1450 level with a break through there opening the door for further upside towards the 1.1500 level. Further up, resistance comes in at the 1.1550 level where a violation will expose the 1.1600 level. All in all, EURUSD continues to threaten further downside pressure
     

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