AUDUSD is testing its resistance at 0.7123(23.6% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 0.7086 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 99%.
NZDUSD is testing its resistance at 0.6503 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance) where it could reverse down to its support at 0.6453 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97%.
Although the USD/JPY chalked up its fourth consecutive loss, overall structure in this market remains unchanged.
Weekly flow remains poised to approach its 2018 yearly opening level at 112.65. This comes after the market engaged with a notable supply at 115.50-113.85 last week (boasts notable history, capping upside on a number of occasions throughout 2017) in...
EURAUD is approaching its support at 1.6167 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce up to its resistance at 1.6260 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 2.0% where a corresponding bounce could occur.
CADCHF bounced nicely off its support at 0.7627 (61.8% & 100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7692 (76.4% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55 5, 3) is bounced off its support at 1.6% where a corresponding rise could occur.
GBPUSD is approaching its resistance at 1.3152 (61.8% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.3041 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97%.
NZDUSD bounced nicely off its support at 0.6426 (61.8% & 100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.6487 (23.6% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89 5, 3) is bounced off its support at 3.3% where a corresponding rise could occur.
XAUUSD is approaching its support at 1194 (61.8% Fibonacci extension, 61.8%, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1200 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4.5% where a corresponding bounce could occur.
EURCAD is approaching its resistance at 1.4920 (61.8% Fibonacci extension x2, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.4839 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDJPY is approaching its resistance at 80.64 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 80.19 (61.8% Fibonacci retracement, horizontal overlap support).
RSI (89, 5, 3) has broken out of its ascending support line.
USDJPY bounced nicely off its support at 113.56(61.8% Fibonacci extension, 23.6% & 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 114.04 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 11.2% where a...
Weekly Gain/Loss: +0.24%
Weekly Close: 1.2938
Weekly perspective:
Having seen the market respond to the trend line resistance-turned support (extended from the high 1.4689) back in late August, and also act as firm resistance from its peak on a number of occasions in the past, it should not come as much of a surprise to see the line hold firm last week. The next...
XAUUSD is approaching its support at 1194 (61.8% Fibonacci extension, 61.8%, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1201 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4.5% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.2977(100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.2889 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
GBPUSD is approaching its resistance at 1.3068 (100% Fibonacci extension, 50%, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.2982 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDJPY is approaching its support at 80.62 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 81.73 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
EURAUD reversed off its resistance at 1.6168(100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 1.6092(50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
NZDJPY is approaching its support at 74.13 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 74.98 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
