XAUUSD is approaching its support at 1229.87(100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1240.00 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
EUR/USD:
Weekly Gain/Loss: -0.77%
Weekly Close: 1.1303
Weekly perspective:
By way of a reasonably strong-looking bearish engulfing configuration forming just south of resistance priced in at 1.1465 (brings with it a nearby cloned trend line resistance ), the EUR/USD concluded the week in negative territory. Should further downside surface this week, demand...
USDCHF is approaching its resistance at 0.9956 (100% Fibonacci extension, 61.8% Fibonacci retracement, Horizontal swing high resistance) where it could potentially to reverse down to its support at 0.9885 (100% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 92% where a corresponding reversal may occur.
CADCHF is approaching its resistance at 0.7474 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 0.7416 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
AUDNZD is approaching its resistance at 1.0590 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.0518 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 93% where a corresponding reversal may occur.
GBPUSD reversed off its resistance at 1.2682 (100% Fibonacci extension , 23.6% Fibonacci retracement , horizontal overlap resistance) where it is could potentially drop further to its support at 1.2561 (61.8% Fibonacci retracement ).
Stochastic (55, 5, 3) reversed off its resistance at 90% where a corresponding drop may occur.
USD/JPY:
USD/JPY bulls went on the offensive Thursday, up 0.27% on the day. Bolstered by US-China trade optimism along with the greenback receiving a lift from post-ECB selling, the H4 candles shook hands with a rather interesting area of resistance at 113.85/113.64 into the close.
Shaded in green we have a zone composed of the underside of a weekly supply at...
CADCHF is approaching its resistance at 0.7457 (100% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal swing high resistance) where it could potentially drop to its support at 0.7375 (61.8% Fibonacci extension, 76.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding drop could occur.
NZDUSD is approaching its support at 0.6843 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price is could potentially bounce up to its resistance at 0.6895 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 3.9% where a corresponding bounce could occur.
USDCAD bounced nicely off its support at 1.3332(100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3385 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 1.5% where a corresponding rise could occur.
EURGBP is approaching its support at 0.8941 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9073 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.8% where a corresponding bounce could occur.
EUR/USD:
In Wednesday’s briefing the piece underlined a strong interest in the H4 support area seen at 1.13/1.1314 as a possible buy zone (green – comprised of November’s opening level at 1.1314, a trend line support , a 78.6% Fibonacci support value at 1.1304, a round number at 1.13 and a complementing AB=CD bullish pattern ).
Reinforced by a softer US...
AUDCAD is approaching its resistance at 0.9727 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal swing high resistance) where it could potentially reverse down to its support at 0.9601(61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
USDCHF reversed off its resistance at 0.9937 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 0.9903 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) reversed off its resistance at 92% where a corresponding drop may occur.
CADJPY is approaching its resistance at 85.199 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 84.41 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is may occur.
EURUSD bounced nicely off its support at 1.1310 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1352 (50 Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 2.1% where a corresponding rise could occur.
USD/JPY:
For those who read Tuesday’s briefing you may recall the piece underlining a potential retest play off 113 as support, targeting December’s opening level at 113.64/H4 resistance at 113.70 (red arrows). As is evident from the H4 chart, price action retested 113 and responded beautifully. Well done to any of our readers who managed to jump aboard this...
EUR/USD:
The single currency relinquished further ground to the US dollar Tuesday, recording its second consecutive daily loss. The pair met strong selling at 1.14 mid-way through London’s session and aggressively turned lower. The move was later exacerbated on hotter-than-expected US PPI numbers – US PPI rose 0.1% in November, decelerating from the 0.6% in...
