EURUSD

Extended the downmove from 1.2899, 10 Nov high, to 1.2760 low last Friday, before strong recovery. Upside break of trendline resistance at 1.2825, has seen gains extending to 1.2848 so far and bringing retest of 1.2875/99 region in focus. Caution of possible correction into 1.2810/00 area before the strength. Downside loss of 1.2780/60, however, weakens the short-term structure.

 

Res: 1.2875, 1.2899, 1.2913, 1.2925

Sup: 1.2810, 1.2800, 1.2780, 1.2760

eurusd

 

 

GBPUSD

Descended from 1.9176, 10 Nov high, to make a double bottom at 1.8835, 15/17 Nov, ahead of strong push higher. Today’s lift above 1.8964 resistance increases hopes of fresh recovery towards 1.9037/47 zone next, though overbought hourly studies warn of corrective pullback towards 1.8915/05, before fresh strength. Back under 1.8885/50 refocuses bears.

 

Res: 1.9000, 1.9037, 1.9047, 1.9101

Sup: 1.8930, 1.8905, 1.8885, 1.8850

gbpusd

 

 

USDJPY

Continues recovery off 116.56, 01 Nov low, with last Friday’s upside failure at 118.44, just below 118.57, 09 Nov recovery high, triggering sharp reversal to 117.57. Fresh push higher is underway, though 118.44/57 zone clearance is needed to resume recovery and target 119.65/85. otherwise, downside attempt at 117.57 and 117.50, trendline support, is likely.

 

Res: 118.57, 118.60, 118.75, 119.00

Sup: 117.73, 117.50, 117.23, 117.12

usdjpy

 

 

USDCHF

Recovery attempt from 1.2344, 10 Nov low, stalled at 1.2535, also trendline resistance, last Friday, ahead of fresh weakness that reached 1.2396 so far. This increases fears of further weakness to retest 1.2385, then 1.2357/44 lows, though while 1.2385 holds the downside, fresh push higher is not ruled out.

 

Res: 1.2439, 1.2452, 1.2490, 1.2500

Sup: 1.2385, 1.2357, 1.2344, 1.2320

usdchf