CADCHF is approaching its resistance at 0.7469 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 0.7431 (50 Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
GBPUSD is approaching its resistance at 1.3202 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.3149 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
Another pretty much sideways day for the yellow metal on Tuesday, with very little in the way of fresh drivers.
Fixed around the underside of daily supply at 1221.2-1207.5, we can see the H4 candles continue to carve out a range between 1212.5/1189.7 (houses September’s opening level at 1200.0). Also eye catching on this scale is the converging trend lines...
EURCHF reversed off its resistance at 1.1378 (100% Fibonacci extension, 76.4%, 38.2% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 1.1322(38.2% Fibonacci retracement, horizontal pull back support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop could occur.
EURGBP is approaching its support at 0.8922 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.8948(38.2% Fibonacci retracement).
Stochastic (55, 5, 3) is bounced off its support at 3.3% where a corresponding bounce could occur.
Over the course of Tuesday’s sessions, the British pound advanced against its US rival to weekly highs of 1.3193. Following a near-pip-perfect response off its 1.31 handle on the H4 timeframe amid early London hours, the pair forced through Monday’s high of 1.3166 and touched gloves with July’s opening level positioned at 1.3183.
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USDCAD is approaching resistance at 1.2977 (100% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.2913 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
CHFJPY is approaching its support at 116.86 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 117.55 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.8% where a corresponding bounce could occur.
NZDUSD is approaching its support at 0.6624 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6669 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
AUDUSD is approaching its support at 0.7242 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7296 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2.5% where a corresponding bounce could occur.
GBPJPY is approaching its support 146.98 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price could rise to its resistance at 148.53 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4.3% where a corresponding bounce could occur.
USDCHF is testing its resistance at 0.9604 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.9554 (horizontal swing low support) could occur.
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding drop could occur.
GBPUSD is approaching its support at 1.3062(100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.3201 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.5% where a corresponding bounce could occur.
NZDUSD is approaching its resistance at 0.6717 (100% Fibonacci extension, 38.2%, 61.8%, 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6635 (38.2% Fibonacci retracement, horizontal overlap support) could occur.
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding drop could occur.
USDJPY approaching resistance at 113.00 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially fall to its support at 111.77 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding drop could occur.
AUDUSD is testing its resistance at 0.7315 (100% Fibonacci extension, 76.4% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.7223 (38.2% Fibonacci retracement, horizontal pullback support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop could occur.
NZDUSD is testing its resistance at 0.6719(100% Fibonacci extension, 50% & 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6622(38.2% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 96% where a corresponding drop is expected.
EURUSD is testing its resistance at 1.1781 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 1.1607 (38.2% Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding drop could occur.
