NZDUSD is approaching its support at 0.6843 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price is could potentially bounce up to its resistance at 0.6895 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 3.9% where a corresponding bounce could occur.
USDCAD bounced nicely off its support at 1.3332(100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3385 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 1.5% where a corresponding rise could occur.
EURGBP is approaching its support at 0.8941 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9073 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.8% where a corresponding bounce could occur.
EUR/USD:
In Wednesday’s briefing the piece underlined a strong interest in the H4 support area seen at 1.13/1.1314 as a possible buy zone (green – comprised of November’s opening level at 1.1314, a trend line support , a 78.6% Fibonacci support value at 1.1304, a round number at 1.13 and a complementing AB=CD bullish pattern ).
Reinforced by a softer US...
AUDCAD is approaching its resistance at 0.9727 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal swing high resistance) where it could potentially reverse down to its support at 0.9601(61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
USDCHF reversed off its resistance at 0.9937 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 0.9903 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) reversed off its resistance at 92% where a corresponding drop may occur.
CADJPY is approaching its resistance at 85.199 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 84.41 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is may occur.
EURUSD bounced nicely off its support at 1.1310 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1352 (50 Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 2.1% where a corresponding rise could occur.
USD/JPY:
For those who read Tuesday’s briefing you may recall the piece underlining a potential retest play off 113 as support, targeting December’s opening level at 113.64/H4 resistance at 113.70 (red arrows). As is evident from the H4 chart, price action retested 113 and responded beautifully. Well done to any of our readers who managed to jump aboard this...
EUR/USD:
The single currency relinquished further ground to the US dollar Tuesday, recording its second consecutive daily loss. The pair met strong selling at 1.14 mid-way through London’s session and aggressively turned lower. The move was later exacerbated on hotter-than-expected US PPI numbers – US PPI rose 0.1% in November, decelerating from the 0.6% in...
CADCHF is approaching its support at 0.7369 ( horizontal swing low support, 100% Fibonacci extension, long term descending support line) where it could potentially bounce to its resistance at 0.7471 (Horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (34, 5, 3) is approaching its support at 2.8% where a corresponding...
GBPJPY is approaching its resistance at 142.84 (100% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it is has a potential to reverse down to its support at 141.63 (horizontal swing low support).
NZDJPY is approaching its resistance at 78.14 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is has a potential to reverse down to its support at 77.70 (horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal might occur.
XAUUSD is approaching its support at 1230 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1249 (horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 6.6% where a corresponding bounce could occur.
A combination of softening crude oil prices and broad-based USD buying lifted the USD/CAD to higher ground Monday. Strong buying interest emerged from 1.33 on the H4 timeframe, pulling the unit above nearby resistance at 1.3329 (now acting support) towards 1.34/channel resistance (extended from the high 1.3317). Stop-loss orders above 1.34 are likely under...
USD/JPY:
For those who read Monday’s briefing you may recall the piece highlighted promising buying opportunities either off H4 demand at 112.19-112.36, or the round number located beneath it at 112. As you can see, the H4 demand retained its position in early Asia Monday and drew in buyers to lift price action above 113 to highs of 113.36.
Why the research...
AUDUSD is approaching its support at 0.7162 (61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7276 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 1.7% where a corresponding bounce could occur.
EURAUD is approaching its resistance at 1.5979 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where there is a potential to reverse down to its support at 1.5745 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a there might be a potential...
