CADCHF is approaching its support at 0.7588 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7636 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 2.5% where a corresponding bounce could occur.
Weekly Gain/Loss: -0.46%
Weekly Close: 1.1335
Weekly perspective:
Over the course of last week’s session the single currency continued to spiral south. By way of a bearish pin-bar formation, the pair recorded its fourth consecutive losing week and placed a question mark on the demand area drawn from 1.1312-1.1445. In the event the unit pushes for lower ground...
USD/JPY:
Weekly Gain/Loss: +0.53%
Weekly Close: 113.79
Weekly perspective:
The US dollar made strong gains vs. its Japanese counterpart last week, lifting the pair into supply territory at 115.50-113.85. Note this supply has incredibly strong history dating as far back as May 2017. For that reason, traders may feel the need to pencil in the possibility of a...
XAUUSD is approaching its support at 1220 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1226 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.
AUDUSD reversed off its resistance at 0.7295 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 0.7201(38.2% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
EURUSD is approaching its support at 1.1358 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1406 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is approaching its support at 3% where a corresponding bounce could occur.
XAGUSD is approaching its support at 14.23 (61.8% & 100%x2 Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 14.47 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.
In recent sessions, H4 price decorated its chart with a strong bullish candle in response to the latest FOMC action, though failed to maintain a bullish presence above November’s opening level at 1.3158. Since October 26 the H4 candles have been busy carving out a consolidation (yellow) between November’s opening level and September’s opening level at 1.3070....
Once again, the AUD/USD found itself around 0.73 territory Thursday, though failed to sustain gains beyond this point. Down 0.24% on the day, a resurgence of bidding entered USD markets amid the latest round of FOMC action, consequently weighing on the commodity currency.
For those who read previous reports, the spotlight was drawn towards 0.7304/0.7282 as a...
XAUUSD is approaching its support at 1211.93 (50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1238.06 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 7% where a corresponding bounce could occur.
NZDUSD is approaching its support at 0.6721 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6792 (horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.3172 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.3102 (61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
AUDNZD is approaching its resistance at 1.0761 (61.8% Fibonacci extension, 38.2% Fibonacci retracement) where it could potentially reverse down to its support at 1.0714 (horizontal swing low support). RSI (55, 5, 3) is approaching its resistance where a corresponding reversal could occur.
The US dollar concluded Wednesday’s session marginally higher against its Japanese counterpart, after reaching a peak of 113.81 amid the US mid-term election results.
Recent buying brought weekly action within close proximity of supply at 115.50-113.85. Note this supply has incredibly strong history. Despite strong selling likely residing around the underside...
AUDCAD is testing its resistance at 0.9519 (61.8% Fibonacci extension, 38.2% & 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.9371 (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) is testing its resistance at 96% and there may be bearish divergence with...
AUDJPY is approaching its resistance at 82.31 (100% Fibonacci extension , 38.2% & 61.8% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 81.36 (23.6% Fibonacci retracement , horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal...
EURJPY is approaching its resistance at 130.20 (100% & 61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 129.42 (23.6% Fibonacci retracement , horizontal pullback support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
USDJPY is approaching its resistance at 113.82 (61.8% Fibonacci extension, 76.4% Fibonacci retracement) where it could potentially reverse down to its support at 113.08 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
