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GBPUSD: Bearish Momentum Extends
GBP faces further downside as it extended its weakness the past week and followed through higher during early trading today. This development leaves the pair weak and vulnerable with eyes on the 1.5700 level. A cut through here will turn attention to the 1.5600 level and then the 1.5500 level. Its weekly RSI is bearish and pointing lower supporting this view.
Mohammed Isah | Jan 28 | FX Tech Strategy
Yen Resumes Southbound Trajectory; A$ Hits the Skids
True to recent form, the bulk of the excitement came from the Japanese Yen overnight, which resumed a decline following comments from Japan's Vice Finance Minister Takehiko Nakao.
Chris Gore | Jan 25 | GoMarkets
USD/JPY Maintains Bullish Stance but may be Losing Steam?
Dips: USD/JPY has had some dips recently, but still maintains the bullish stance. Looking at the 4H chart we see that since the new year, there has been increasingly stronger dips, 158 pips, 212 pips, and most recently 218 pips. However, they all avoided the previous lows, while following up with higher highs eventually breaking above the 90 handle.
Fan Yang | Jan 24 | FX Times
AUD/USD Sliding Sharply out of a Rising Channel
Rising Channel: I noted AUD/USD was cracking the rising channel support in the previous update. Well, the result was a failed breakout, that lead to a rally that tested a key previous resistance at 1.0578. The RSI meanwhile was stuck between 40 and 60, and really maintained a bullish stance as it held above 40 because it had previously tagged 70 as a sign of bullish momentum.
Fan Yang | Jan 24 | FX Times
USDCHF- Consolidating Recent Gains
The pair requires a break and hold above the 0.9388 level to prevent a return below its broken trendline. If the above mentioned level is traded expect the pair to target the 0.9400 level followed by the 0.9456 level. Further out, resistance resides at the 0.9511 level and then the 0.9600 level. The alternative scenario will be for USDCHF to return to the 0.9200 level and then the 0.9100 level.
Mohammed Isah | Jan 24 | FX Tech Strategy
EURUSD: Consolidating With Upside Bias.
EURUSD: While price consolidation may be seen, EUR continues to hold on to its upside offensive in the medium term. As long as it holds and trades above its rising trendline, further upside is likely towards the 1.3335 level. Above here will call for a run at the 1.3403 level. If this is seen, further upside is possible towards the 1.3500 level followed by the 1.3600 level.
Mohammed Isah | Jan 23 | FX Tech Strategy
EUR/USD Oscillating in the Middle of a Consolidation Range
Consolidation Range: The EUR/USD established a consolidation range last week between1.3403 and 1.3255, with possible support down to a 1.3246 pivot. As you can see, this is a sideways market in the short-term after a bullish market that actually started back in July 2012. Note the 4H RSI reading stuck between 40 and 60, a sign that EUR/USD lacks direction.
Fan Yang | Jan 23 | FX Times
GBP/USD at 50% Retracement with Semblance of a Double Top
50% retracement: GBP/USD continued to slide after breaking below a rising trendline as noted in the previous GBP/USD update. Since the break last Friday, cable has edged lower until it hit 50% retracement of the 1.5267-1.6380 bull run from June 1 to Jan. 2.
Fan Yang | Jan 23 | FX Times
EURGBP: Maintains Its Bullishness
With a follow-through higher on the back of its last week gains occurring the past week, further bullish offensive now eyes the 0.8450 level. Above here will call for a run at the 0.8500 level with a violation of here threatening further upside towards the 0.8550 level. Its daily RSI is bullish and pointing higher.
Mohammed Isah | Jan 22 | FX Tech Strategy
Aussie Dollar Steady, BOJ to Dominate Today's Proceedings
After a brief period below 105-figure after Monday's open, the Aussie dollar adhered to a tight 25 pip range overnight, with little in the way of major themes to encourage a break-out. With no major local event risk until Wednesday's CPI, we anticipate residual moves from today's BOJ policy decision to guide the way.
Chris Gore | Jan 22 | GoMarkets
USDCAD: Recovering But Vulnerable
Although a higher close was recorded the past week, the pair will have to break and above its declining trendline to convince the market of further upside. While the mentioned trendline caps upside, an eventual return to the 0.9814/22 levels is likely. A breach will aim at the 0.9692/31 levels followed by the 0.9500 level.
Mohammed Isah | Jan 21 | FX Tech Strategy
AUD/USD Cracking Channel Support
Channel Support: AUD/USD has been choppily creeping down from the 1.0597 January-high. When it got to the 1.05 area, it was testing a rising channel support as seen in the 4H chart. The market is showing some crack of this trendline. It is also testing the 200 4H SMA. The 4H RSI reading is at 40.
Fan Yang | Jan 19 | FX Times
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