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...
EURGBP is approaching its resistance at 0.8993(61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where there is a potential to reverse down to its support at 0.8926 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a there might be a potential...
AUDCAD is approaching its support at 0.9529 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.9646 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 5.3% where a corresponding bounce could occur.
EUR/USD:
Weekly Gain/Loss: +0.38%
Weekly Close: 1.1393
Weekly perspective:
The single currency staged a reasonably decisive recovery over the course of last week, breaking a two-week bearish phase. Further buying, however, may be challenging. Less than 100 pips overhead resistance is seen priced in at 1.1465, which, as you can probably see, brings with it a...
USD/CHF:
Weekly Gain/Loss: -0.81%
Weekly Close: 0.9896
Weekly perspective:
In form of a robust bearish engulfing candle printed just south of the 2016 yearly opening level at 1.0029, the USD/CHF market declined in excess of 80 pips last week. According to weekly structure, additional selling could materialize this week having seen the next support target not...
GBPCHF is approaching its support at 1.2661 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.2706 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (21, 5, 3) is approaching its support at 5% where a corresponding bounce...
NZDJPY bounced nicely off its support at 77.34 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 77.94 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is bounced off its support at 5.8% where a corresponding rise could occur.
GBPJPY is approaching its resistance at 144.72(100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 143.36 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 91% where a corresponding reversal could occur.
AUDCAD is approaching its support at 0.9650 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9698 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 7.9% where a corresponding bounce could occur.
