Daily Technical Strategy On Currencies & Commodities

EURUSD Looks To Extend Its Upside Pressure

EURUSD: The pair remains biased to the upside leaving risk of more strength in the new week. Resistance comes in at 1.1950 level with a cut through here opening the door for more upside towards the 1.2000 level. Further up, resistance lies at the 1.2050 level where a break will expose the 1.2100 level. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. Below here will open the door for more weakness towards the 1.1750. All in all, EURUSD faces further recovery threats in the new week.

 

Will Brexit have a significant impact on the Euro - no matter what the outcome?

Personally I think other members will leave in due course.

 

GOLD: Bullish, Targets Further Upside Pressure.

GOLD: The commodity looks to extend upside pressure as it was seen following through higher on Monday. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure towards the 1,260.00 level. Conversely, resistance resides at the 1,300.00 level where a break will aim at the 1,310.00 level. A turn above there will expose the 1,320.00 level. Further out, resistance stands at the 1,330.00 level. All in all, GOLD looks to strengthen further on correction.

 

EURUSD Targeting Further Bull Pressure, Eyes 1.1960 Zone

EURUSD: The pair faces further upside as it looks for more strength. Resistance comes in at 1.1950 level with a cut through here opening the door for more upside towards the 1.2000 level. Further up, resistance lies at the 1.2050 level where a break will expose the 1.2100 level. Conversely, support lies at the 1.1850 level where a violation will aim at the 1.1800 level. A break of here will aim at the 1.1750 level. Below here will open the door for more weakness towards the 1.1700. All in all, EURUSD faces further downside threats.

 

GBPUSD: Bullish, Biased To The Upside On Trend Resumption

GBPUSD: The pair now faces risk of a trend resumption after reversing its Friday losses on during Monday trading session. Support lies at the 1.3500 level where a break will turn attention to the 1.3450 level. Further down, support lies at the 1.3400 level. Below here will set the stage for more weakness towards the 1.3350 level. Conversely, resistance stands at the 1.3550 levels with a turn above here allowing more strength to build up towards the 1.3600 level. Further out, resistance resides at the 1.3650 level followed by the 1.3700 level. On the whole, GBPUSD continues to face upside pressure short term.

 

GBPUSD: Rallies Off Intra Day Low, Eyes 1.3549 Zone

GBPUSD: The pair held of lower prices to close higher on a rally on Thursday. This development has opened the door for more strength in the days ahead. Support lies at the 1.3450 level where a break will turn attention to the 1.3400 level. Further down, support lies at the 1.3350 level. Below here will set the stage for more weakness towards the 1.3300 level. Conversely, resistance stands at the 1.3500 levels with a turn above here allowing more strength to build up towards the 1.3550 level. Further out, resistance resides at the 1.3600 level followed by the 1.3650 level. On the whole, GBPUSD looks to recover higher.

 

GBPUSD: Bearish, Looks To Weaken Further

GBPUSD: The pair closed lower the past leaving risk of more weakness on the cards in the new week. Support lies at the 1.3350 level where a break will turn attention to the 1.3300 level. Further down, support lies at the 1.3250 level. Below here will set the stage for more weakness towards the 1.3200 level. Conversely, resistance stands at the 1.3450 levels with a turn above here allowing more strength to build up towards the 1.3500 level. Further out, resistance resides at the 1.3550 level followed by the 1.3600 level. On the whole, GBPUSD looks to pullback further.

 

EURUSD: Vulnerable, Looks To Resume Short Term Downtrend

EURUSD: The pair looks to resume its short term downtrend following its upside price rejection. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD faces further downside pressure short term.

 

USDCHF: Hesitates, Upside Risk Builds Up

USDCHF: The With the pair continuing reject lower prices risk of a recovery higher is likely. On the downside, support lies at the 0.9900 level. A turn below here will open the door for more weakness towards the 0.9850 level and then the 0.9800 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0100. All in all, USDCHF faces further upside pressure but with caution

 

GBPJPY: Closes Lower, Eyes More Weakness

GBPJPY: The cross closed lower the past week leaving risk of more weakness on the cards. On the downside, support comes in at the 149.50 level where a violation will aim at the 149.00 level. A break below here will target the 148.50 level followed by the 148.00 level. Conversely, resistance is seen at the 150.50 level followed by the 151.00 level. A cut through that level will set the stage for a move further higher towards the 151.50 level. Further out, resistance resides at the 152.00 level. All in all, GBPJPY remains biased to the downside nearer term.