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.
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.
