official Daily Technical Strategy On Currencies & Commodities

[Guest FXTechstrategy]

EURUSD Looks To Weaken Further On Bear Pressure

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.

[Guest FXTechstrategy]

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.

 

[Guest FXTechstrategy]

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.
 

 

[Guest FXTechstrategy]

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.

[Guest FXTechstrategy]

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.
 

 

[Guest FXTechstrategy]

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. 
 

 

[Guest FXTechstrategy]

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.
 

 

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[Guest FXTechstrategy]

EURUSD: Sees Price Extension On Bear 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.

 

[Guest FXTechstrategy]

GBPUSD: Recovers Higher With Eyes On 1.2591 Zone

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. 

 

[Guest FXTechstrategy]

USDCHF: Loses Upside Momentum, Eyes 1.0091 Level

USDCHF: The pair remains biased to the downside on corrective weakness threats having followed through lower during Friday trading session. On the downside, support lies at the 1.0100 level. A turn below here will open the door for more weakness towards the 1.0050 level and then the 1.0000 level. On the upside, resistance resides at the 1.0200 level where a break will clear the way for more strength to occur towards the 1.0250 level. Further out, resistance comes in at the 1.0300 level. All in all, USDCHF remains biased to the downside as it weaken on corrective pullback.

 

[Guest FXTechstrategy]

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.
 

[Guest FXTechstrategy]

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.

 

[Guest FXTechstrategy]

CRUDE OIL: Extends Bullish Offensive On Rally

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.
 

[Guest FXTechstrategy]

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.

 

[Guest FXTechstrategy]

GBPUSD: Eyes Further Upside On Bull Pressure

GBPUSD: The pair closed strongly higher the past week and looks to extend that strength in the new week. On the downside, support lies at the 1.2700 level where a break will turn attention to the 1.2650 level. Further down, support  lies at the 1.2600 level. Below here will set the stage  for more weakness towards the 1.2550 level. Conversely, resistance stands at the 1.2800 levels with a turn above here allowing more strength to build up towards the 1.2850 level. Further out, resistance  resides at the 1.2900 level followed by the 1.2950 level. On the whole, GBPUSD threatens further upside pressure but with caution.

 

[Guest FXTechstrategy]

GBPUSD: Sees Price Hesitation With Downside Bias

GBPUSD: The pair turned lower on Wednesday leaving risk of more weakness on the cards. However, its correction higher is not over yet. On the downside, support lies at the 1.2600 level where a break will turn attention to the 1.2550 level. Further down, support  lies at the 1.2500 level. Below here will set the stage  for more weakness towards the 1.2450 level. Conversely, resistance stands at the 1.2700 levels with a turn above here allowing more strength to build up towards the 1.2750 level. Further out, resistance  resides at the 1.2800 level followed by the 1.2850 level. On the whole, GBPUSD threatens further downside pressure but with caution.
 

[Guest FXTechstrategy]

EURUSD: Weakens, Broader Bias Remains Lower

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.

[Guest FXTechstrategy]

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.

 

[Guest FXTechstrategy]

GOLD: Extends Losses On Bear 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.