official Daily Technical Strategy On Currencies & Commodities

[Guest FXTechstrategy]

USDCAD Sets Up To Strengthen Further

 

USDCAD faces risk of further upside as it looks to follow through higher on the back of 2 days gain.. Support comes in at the 1.4050 level where a break will aim at the 1.4000 level. Further down, support comes in at the 1.3950 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3900 level. On the upside, resistance stands at the 1.4150 level where a break will target the 1.4200 level. Further up, resistance resides at the 1.4250 level and then the 1.4300 level. All in all, USDCAD looks to strengthen further in the days ahead.

 

 

[Guest FXTechstrategy]

EURUSD Rallies Sharply, Eyes More Strength

 

EURUSD faces risk of further move higher following its sharp rally on Monday. Resistance stands at the 1.0950 where a break will turn risk towards the 1.1000 level. A breach of here will target the 1.1050 level. Further up, resistance stands at the 1.1100. Conversely, on the downside, support comes in at 1.0850 level with a violation opening the door for further gain towards the 1.0800 level. Further down, resistance lies at the 1.0750 level. A cut through that level will clear the way for a move towards the 1.0700 level. All in all, EURUSD looks for further bull threats.

 

 

[Guest FXTechstrategy]

EURUSD faces risk of further upside pressure as it looks to recapture its key resistance at 1.1496 level. Resistance comes in at the 1.1550 with a break turning risk towards the 1.1600 level. A cut through here will target the 1.1650 level. Further up, resistance stands at the 1.1700. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, on the downside, support comes in at 1.1450 level with a violation opening the door for further gain towards the 1.1400 level. Further down, resistance lies at the 1.1350 level. A cut through that level will clear the way for a move towards the 1.1300 level. All in all, EURUSD looks for more upside recovery.

 

Edited July 19, 2020 by FXTechstrategy

[Guest FXTechstrategy]

EURUSD Breaks And Trades Above 1.1496 Resistance Zone

 

EURUSD looks to extend its past week gains in the new week after breaking above its key resistance at 1.1496 area. Resistance comes in at the 1.1700 with a break turning risk towards the 1.1750 level. A cut through here will target the 1.1800 level. Further up, resistance stands at the 1.1850. Its weekly RSI is bullish and pointing higher suggesting more strength. Conversely, on the downside, support comes in at 1.1600 level with a violation opening the door for further gain towards the 1.1550 level. Further down, resistance lies at the 1.1500 level. A cut through that level will clear the way for a move towards the 1.1450 level. All in all, EURUSD looks for more upside gain.

 

[Guest FXTechstrategy]

USDCAD Vulnerable, Risk Continues To Point Lower

 

USDCAD looks to extend its downside pressure in the days ahead. Support comes in at the 1.3300 level where a break will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3150 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance stands at the 1.3350 level where a break will target the 1.3400 level. Further up, resistance resides at the 1.3450 level and then the 1.3500 level. All in all, USDCAD looks to decline further lower.

 

 

[Guest FXTechstrategy]

GBPJPY Rallies, Extend Its Bull Pressure

 

GBPJPY looks to strengthen further higher in the days ahead following its rally on Thursday. On the downside, support comes in at the 140.00 level where a violation will aim at the 139.50 level. A break below here will target the 139.00 level followed by the 138.50 level. Conversely, resistance is seen at the 141.00 level followed by the 141.50 level. A cut through that level will set the stage for a move further higher towards the 142.00 level. Further out, resistance resides at the 142.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, GBPJPY remains biased to the upside in the medium term.

 

 

 

 

[Guest FXTechstrategy]

EURUSD Puts In Temporary Bottom

 

EURUSD faces risk of a move higher in the new week as it rejected lower prices on Friday. Resistance now comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more recovery pressure.

 

 

 

[Guest FXTechstrategy]

GBPJPY Sets Up To Strengthen Further

 

GBPJPY looks to decline further as it retains its downside pressure into the new week. On the upside, support comes in at the 136.00 level where a violation will aim at the 136.50 level. A break below here will target the 137.00 level followed by the 137.50 level. Conversely, support is seen at the 135.50 level followed by the 135.00 level. A cut through this level will set the stage for a move further lower towards the 134.50 level. Further down, support resides at the 134.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. All in all, GBPJPY remains biased to the downside in the short term.

 

 

 

[Guest FXTechstrategy]

CRUDE OIL Broader Upside Bias Remains Valid

 

CRUDE OIL looks to strengthen further as it looks to resume its broader uptrend. Support lies at the 40.50 level where a break will turn attention to the 40.00 level. A push through here will set the stage for a run at the 39.50 level. Further down, support comes in at the 39.00. Its daily RSI is bullish and pointing higher suggesting more gain. On the upside, resistance resides at the 41.50 levels. Further out, resistance comes in at the 42.00 level. A break above here will aim at the 42.50 level and then the 43.50 level followed by the 44.00 level. All in all, CRUDE OIL remains biased to the upside medium term.

 

 

[Guest FXTechstrategy]

USDCHF Rallies, Eyes Further Upside Pressure

 

USDCHF continues to face recovery risk as it saw a rally on Monday. On the downside, support comes in at the 0.9100 level. Below here leaves support at the 0.9050 level and then the 0.9000 level. Further down, support comes in at the 0.8950 level. On the upside, resistance is located at the 0.9200 level with a turn above here opening the door for a move towards the 0.9250 level. And then the 0.9300 level. Further down, support comes in at the 0.9350 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCHF remains biased to the upside on further corrective recovery.

 

 

[Guest FXTechstrategy]

EURJPY Halts Weakness, Faces Recovery Risk

 

EURJPY faces risk of further move higher halting its weakness on Thursday. On the downside, support comes in at the 122.50 level where a break will turn focus towards the 122.00 level. A cut through here will see a move towards the 121.50 level and possibly lower towards the 121.00 level. On the upside, resistance resides at the 123.50 level. Further out, we envisage a possible move towards the 124.00 level. Further out, resistance resides at the 124.50 level with a turn above here aiming at the 125.00 level. On the whole, EURJPY continues to face downside pressure short term but with risk of correction higher.

 

[Guest FXTechstrategy]

AUDUSD Bullish, Remains On The Offensive

 

AUDUSD remains biased to the upside retaining its short term trend and looking for further gain. On the downside, support comes in at the 1.7150 level. A cut through here will turn focus to the 0.7100 level and then the 0.7050 level. A violation will set the stage for a retarget of the 0.7000 level. Conversely, resistance lies at the 0.7200 level where a breach will aim at the 0.7250 level. Below here will open the door for a run at the 0.7300 level and then the 0.7350 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, AUDUSD faces further upside threats.

 

[Guest FXTechstrategy]

EURUSD Biased To The Upside On Recovery Medium Term

 

EURUSD continues to face risk of further upside pressure as we enter a new week. Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level. Further up, resistance stands at the 1.1800. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level. All in all, EURUSD looks for more upside pressure.

 

 

[Guest FXTechstrategy]

NZDUSD Vulnerable, Eyes Further Weakness

 

NZDUSD continues to face risk of further move lower after declining on Tuesday. Support lies at the 0.6550 level where a break will turn attention to the 0.6500 level. A break of here will have to happen to create scope for a move higher towards the 0.6450 level. Further down, support resides at the 0.6400 level. Conversely, resistance stands at the 0.6650 level. Further down, the 0.6700 level comes in as the next downside target and then the 0.6750 level. All in all, NZDUSD faces further downside pressure

 

[Guest FXTechstrategy]

USDCHF Bearish, Weakens On Sell Off

 

USDCHF sold off on Friday following its bear pressure. This development leaves risk of more decline on the cards. Support comes in at the 0.9050 level. Below here, support lies at the 0.9000 level and then the 0.8950 level. Further down, support comes in at the 0.8900 level. Its daily RSI is bearish and pointing lower suggesting more weakness. On the upside, resistance is seen at the 0.9150 level with a turn above there opening the door for a move towards the 0.9200 level. And then the 0.9250 level. Further up, resistance comes in at the 0.9300 level. All in all, USDCHF remains biased to the downside on further pullback.

 

 

[Guest FXTechstrategy]

USDJPY Vulnerable, Extends Weakness

 

USDJPY looks to move further lower after selling off on Wednesday. On the downside, support comes in at 105.00 level. Below this level will turn attention to the 104.50 level. Further down, support is seen at the 104.00 level. A cut through here will open the door for more decline towards the 103.50. Its daily RSI is bearish and pointing lower suggesting further decline. On the upside, resistance comes in at the 105.50 level where a break will target the 106.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 107.00 level. On the whole, USDJPY faces further downside threats.

 

 

 

[Guest FXTechstrategy]

EURUSD Risk Continues To Point Lower Short Term

 

EURUSD faces further downside pressure as it holds on its downside short term trend. Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level. Further up, resistance stands at the 1.1900. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level. All in all, EURUSD looks for more downside pressure in the new week.

 

 

 

[Guest FXTechstrategy]

EURUSD Looks To Resume Upside Pressure

 

EURUSD faces further upside pressure as it looks to resume its uptrend in the new week. Resistance comes in at the 1.1900 with a break of that area turning risk towards the 1.1950 level. A move above here will target the 1.2000 level. Further up, resistance stands at the 1.2050. On the down, support comes in at 1.1800 level with a violation opening the door for a run at the 1.1750 level. Further down, support is seen at the 1.1700 level. A cut through that level will clear the way for a move towards the 1.1650 level. All in all, EURUSD looks for more upside pressure in the days ahead.

 

 

 

[Guest FXTechstrategy]

USDJPY Bullish, Eyeing Further Upside

 

USDJPY looks to move further higher as it retains most of its rally gain. On the downside, support comes in at 105.00 level. Below this level will turn attention to the 104.50 level. Further down, support is seen at the 104.00 level. A cut through here will open the door for more decline towards the 103.50. On the upside, resistance comes in at the 105.50 level where a break will target the 106.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 107.00 level. On the whole, USDJPY faces further upside threat in the days ahead.

 

 

[Guest FXTechstrategy]

EURUSD Pressure Continues To Build Up

 

EURUSD faces further upside pressure after closing for a second day in a row on Friday. Resistance comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1850 level with a violation opening the door for a run at the 1.1800 level. Further down, support is seen at the 1.1750 level. A cut through that level will clear the way for a move towards the 1.1700 level. All in all, EURUSD looks for more upside pressure in the days ahead.