Forexalerts
EURUSD Risk Remains Lower On Further Decline EURUSD risk remains lower on further decline in the new week as it closed lower the past week. Support stands at the 1.1300 where a break will aim at the 1.1250 level. A break below here will target the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to threaten further downside pressure.
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GBPJPY Tumbles Lower On Price Reversal GBPJPY tumbles lower on price reversal with further weakness expected in the days ahead. On the downside, support comes in at the 142.00 level where a violation will aim at the 141.50 level. A break below here will target the 141.00 level followed by the 140.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 142.50 level followed by the 143.00 level. A cut through that level will set the stage for a move further higher towards the 143.50 level. Further out, resistance resides at the 144.00 level. All in all, GBPJPY faces further downside pressure on price sell off.
EURUSD Pulls Back Ahead Of Key Resistance EURUSD pulls back ahead of key resistance at 1.1569 level with risk of more weakness. Support comes in at the 1.1400 where a violation will aim at the 1.1350 level. A break below here will target the 1.1300 level. Further down, support lies at the 1.1250. On the upside, resistance resides at 1.1500 level with a break through there opening the door for further upside towards the 1.1550 level. Further up, resistance comes in at the 1.1600 level where a violation will expose the 1.1650 level. All in all, EURUSD continues to threaten further upside pressure but with caution pf pullback.
USDCAD H4 and Watch for correction and look for SellUSDCAD H4 and Watch for correction and look for Sell
Bullish Flag on JPYAUD?JPYAUD appears to be forming a bullish flag. Too early to tell, but if going bullish it is usually a good idea to wait for a pull back. Waiting also gives you the opportunity see any sharp reversals and change your mind. Expecting to see a pull back/sell off because of the recent bullish activity, however if all goes as planned it will continue to rise higher and form a bullish flag.
GBPNZD!following the trend I predict the price is going to rise up at least 200 pips to a new desired price level.
EURUSD - Can Head & Shoulder - Become Bullish ? 1.1250 - 1.1800We all know Head and Shoulder (H & S) is a classic pattern which activates only below the neckline & neckline low is recent low of 1.1215
So why not take advantage of buying the pattern if it holds above 1.1250 level & any opportunity between 1.1265 - 1.1275 should be seen as good risk reward trade in next few weeks if it holds above 1.1250 mark.
Upside Target - 1.1800 - No long trades below 1.1250 mark.
