NZDUSD is approaching its resistance at 0.6824 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.6769 (50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
CADJPY is approaching its support at 85.66 (100% Fibonacci extensionx2, 61.8% Fibonacci retracement, horizontal swing low support) where price could potentially bounce up to its resistance at 86.23 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is testing its support at 4.5% where a corresponding...
With the EUR/USD recording its second consecutive daily gain, it should not come as a surprise to see the USD/CHF register similar, only inverse. As can be seen from the H4 chart this morning, the unit retested the underside of its 1.01 handle and pressed for lower ground, consequently forming a nice-looking AB=CD correction pattern around the 1.0038 region...
The Australian dollar retained its bullish tone Wednesday on the back of broad-based USD weakness, consequently recording a second consecutive daily gain. Although the H4 candles recently overthrew October’s opening level at 0.7229, resistance in the form of a 61.8% Fib resistance at 0.7250 is in play (positioned just south of an AB=CD 127.2% bearish pattern at...
Since the pair bottomed just north of weekly demand at 1.1119-1.1212, price has sported a reasonably bullish tone. Although the unit may endure some selling pressure around 1.1310 (the swing resistance marked with a pink arrow), the path appears relatively clear towards the weekly resistance area at 1.1717-1.1862.
Daily resistance at 1.1310 (also seen as a swing...
USDCAD reversed off its resistance at 1.3250 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 1.3182 (38.2% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
EURJPY bounced nicely off its support at 127.49 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 129.80 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is bounced off its support at 3.7% where a corresponding...
XAUUSD bounced nicely off its support at 1193.9 (61.8% Fibonacci extension , 61.8% & 76.4% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 1212.6 (38.2% Fibonacci retracement , horizontal pullback resistance). Stochastic (89, 5, 3) is bounced off its support at 1.8% where a corresponding rise could occur.
CADCHF is approaching its support at 0.7606 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where price could potentially bounce up to its resistance at 0.7625 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is testing its support at 3.7% where a corresponding bounce could occur.
After striking highs of 1.3263 Tuesday, its highest daily close in nearly four months, the USD/CAD came under pressure. Weighed on by broad-based USD selling, the H4 candles successfully faded a nearby Quasimodo resistance at 1.3260. Additional confluence supporting a move lower from the H4 Quasimodo resistance is the ABCD approach (black arrows) that terminated...
Optimism continued to surface in recent trade after White House Economic adviser Kudlow announced positive talks with China. In response, the AUD/USD concluded Tuesday’s session up 0.63% and pared all of Monday’s losses.
From a technical perspective, this has seen weekly action respect its 2017 yearly opening level at 0.7199. Room for further buying is also...
NZDUSD bounced nicely off its support at 0.6695 (100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6695 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is bounced off its support 6% where a corresponding rise could occur.
AUDUSD bounced nicely off its support at 0.7159 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7215 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is bounced off its support at 2% where a corresponding rise could occur.
CADJPY bounced nicely off its support at 0.7159 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 86.13 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is bounced off its support at 2.3% where a corresponding...
EURCAD is approaching its support at 1.4849 (100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where price could potentially bounce up to its resistance at 1.4920 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
EURJPY reversed off its resistance at 130.00 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 127.88 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) reversed off its resistance at 99% where a corresponding...
XAUUSD is approaching its support at 1207.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1219.99 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.
EURUSD is approaching its support at 1.1306 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.1397 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 1.5% where a corresponding bounce could occur.
