USD/CHF:
Supported by a 161.8% H4 Fibonacci ext. point at 0.9995, H4 supply marked with a red arrow at 1.0007-0.9988, daily resistance plotted at 0.9986 and the RSI indicator running a divergence play, the market observed a strong selloff take shape from 1.0000 (parity) Wednesday on the back of comments from Fed Chair Powell regarding interest rates.
For those...
USDCAD is approaching its resistance at 1.3384 (100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal swing high resistance, ascending channel resistance) where it could potentially reverse to its support at 1.3263 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is approaching its...
EURGBP is approaching its support at 0.8825 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.8876 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
EURCAD is approaching its support at 1.4967 (61.8%& 100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5079 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 5.8% where a corresponding bounce could occur.
AUDJPY is approaching its resistance at 82.35 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 81.91 (50% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
USD/JPY:
Broad-based USD strength reinforced USD/JPY buying Tuesday, consequently recording its third consecutive daily gain and reaching highs of 113.84.
Despite recent upside pressure, the pair could be gearing up for a pullback according to the technical picture. Weekly supply at 115.50-113.85 elbowed its way into the spotlight yesterday, which, as is...
EURUSD is approaching its support at 1.1189 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1374 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.2% where a...
AUDNZD is approaching its resistance at 1.0703 (100% Fibonacci extension, 61.8%, 23.6% & 32.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.0652 (horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal could occur.
AUDCHF is approaching its support at 0.71975 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7221 (50% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 3.4% where a corresponding bounce could occur.
NZDUSD is approaching its support at 0.6699 (100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 0.6783 (76.4% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 5.6% where a corresponding bounce could occur.
AUDJPY is approaching its resistance at 82.24 (61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 81.48 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). Stochastic (21, 5, 3) is approaching its resistance at 94% where a corresponding reversal could occur.
CADJPY is approaching its resistance at 85.68 (61.8% Fibonacci extension, 61.8% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 85.32 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
CADCHF is approaching its resistance at 0.7557 (61.8% Fibonacci extension, 32.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 0.7507 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal could occur.
USDJPY is approaching its resistance at 113.25 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 112.87 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
Weekly Gain/Loss: -0.31%
Weekly Close: 0.9968
Weekly perspective:
The USD/CHF extended losses over the course of last week’s trading, firmly positioning price action beneath its 2016 yearly opening level at 1.0029. Providing sellers remain in the driving seat, the next support target does not come into view until the 2018 yearly opening level at 0.9744.
Daily...
CADCHF is approaching its resistance at 0.7555 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it could potentially reverse to its support at 0.7473 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
GBPJPY is approaching its resistance at 146.11(100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it could potentially reverse down to its support at 144.85 (61.8% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURAUD is approaching its support at 1.5677 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.5748 (horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 3.1% where a corresponding bounce could occur.
