EURUSD
The Euro remains under pressure, with fresh weakness off 1.2630, yesterday’s recovery peak, hitting fresh 3 ½ week low, on a probe below yesterday’s 1.2545 low. Yesterday’s close below 1.2660, Nov 2012 low, is seen as initial signal for further descend, with overall bearish technicals supporting the notion. However, yesterday’s hammer candle close, signals reduced selling pressure, which may trigger further consolidation, ahead of fresh weakness. Watch the weekly close, which is required to occur bellow 1.2660 and also below 1.2600, former base, to confirm bearish resumption. Otherwise, prolonged sideways trade could be expected in the near-term, while rallies above 1.2630 would delay bears. Pivotal resistance lies at 1.2690, daily sideways moving Tenkan-sen and Kijun-sen lines.
Res: 1.2600; 1.2630; 1.2663; 1.2690
Sup: 1.2539; 1.2499, 1.2464; 1.2400
GBPUSD
The pair attempts again below psychological 1.60 level, where the pair closed yesterday with Doji candle, which emerged after recovery attempts stalled at 1.6037. Bears prevail on all timeframes, which favors further weakness, for possible retest of key support at 1.5873, 15 Oct low, for full retracement of 1.5873/1.6182, after the pair left double-top at 1.6182/80 and accelerated lower sharply. Weekly close below 1.60 barrier, which also marks 50% of larger 1.4812/1.7189, 2013 low/2014 peak ascend, to confirm bearish resumption. Conversely, close above would signal further consolidation. Only sustained break above 1.6037, yesterday’s high and 1.6067, daily 20SMA / Tenkan-sen line, would sideline near-term bears.
Res: 1.6000; 1.6037; 1.6054; 1.6067
Sup: 1.5949; 1.5900; 1.5873; 1.5850
USDJPY
Fresh acceleration higher, which cleared strong barriers and previous highs at 110 zone, also 110.66, 15 Aug 2008 peak, took out 111 barrier. Strong rally looks for test of psychological 112 resistance and 112.38, Fibonacci 61.8% of multi-year 135.16/75.55 descend and 112.67, Fibonacci 76.4% retracement of 124.14/75.55 descend. Corrective actions on overbought near-term studies, should be contained above 110 zone, above which weekly close is also required, to keep bulls intact.
Res: 112.00; 112.38; 112.67; 113.00
Sup: 111.00; 110.72; 110.20; 110.00
AUDUSD
The pair remains in near-term range trading, following false break above 0.89 range top and subsequent pullback. Near-term price action is attempting to stabilize above 0.88 support, also daily Tenkan-sen line, which is required to keep the price in the upper part of the range, for possible renewed attempts higher. Near-term studies are in neutral mode, while dailies are gaining momentum and keeping near-term focus at the upside. Initial supports lay at 0.8783, daily 20SMA, session low, reinforced by daily Kijun-sen line and 0.8753, yesterday’s low, above which today’s close should occur, to keep upside targets in play.
Res: 0.8830; 0.8850; 0.8880; 0.8909
Sup: 0.8800; 0.8783; 0.8753; 0.8717
The Euro remains under pressure, with fresh weakness off 1.2630, yesterday’s recovery peak, hitting fresh 3 ½ week low, on a probe below yesterday’s 1.2545 low. Yesterday’s close below 1.2660, Nov 2012 low, is seen as initial signal for further descend, with overall bearish technicals supporting the notion. However, yesterday’s hammer candle close, signals reduced selling pressure, which may trigger further consolidation, ahead of fresh weakness. Watch the weekly close, which is required to occur bellow 1.2660 and also below 1.2600, former base, to confirm bearish resumption. Otherwise, prolonged sideways trade could be expected in the near-term, while rallies above 1.2630 would delay bears. Pivotal resistance lies at 1.2690, daily sideways moving Tenkan-sen and Kijun-sen lines.
Res: 1.2600; 1.2630; 1.2663; 1.2690
Sup: 1.2539; 1.2499, 1.2464; 1.2400
GBPUSD
The pair attempts again below psychological 1.60 level, where the pair closed yesterday with Doji candle, which emerged after recovery attempts stalled at 1.6037. Bears prevail on all timeframes, which favors further weakness, for possible retest of key support at 1.5873, 15 Oct low, for full retracement of 1.5873/1.6182, after the pair left double-top at 1.6182/80 and accelerated lower sharply. Weekly close below 1.60 barrier, which also marks 50% of larger 1.4812/1.7189, 2013 low/2014 peak ascend, to confirm bearish resumption. Conversely, close above would signal further consolidation. Only sustained break above 1.6037, yesterday’s high and 1.6067, daily 20SMA / Tenkan-sen line, would sideline near-term bears.
Res: 1.6000; 1.6037; 1.6054; 1.6067
Sup: 1.5949; 1.5900; 1.5873; 1.5850
USDJPY
Fresh acceleration higher, which cleared strong barriers and previous highs at 110 zone, also 110.66, 15 Aug 2008 peak, took out 111 barrier. Strong rally looks for test of psychological 112 resistance and 112.38, Fibonacci 61.8% of multi-year 135.16/75.55 descend and 112.67, Fibonacci 76.4% retracement of 124.14/75.55 descend. Corrective actions on overbought near-term studies, should be contained above 110 zone, above which weekly close is also required, to keep bulls intact.
Res: 112.00; 112.38; 112.67; 113.00
Sup: 111.00; 110.72; 110.20; 110.00
AUDUSD
The pair remains in near-term range trading, following false break above 0.89 range top and subsequent pullback. Near-term price action is attempting to stabilize above 0.88 support, also daily Tenkan-sen line, which is required to keep the price in the upper part of the range, for possible renewed attempts higher. Near-term studies are in neutral mode, while dailies are gaining momentum and keeping near-term focus at the upside. Initial supports lay at 0.8783, daily 20SMA, session low, reinforced by daily Kijun-sen line and 0.8753, yesterday’s low, above which today’s close should occur, to keep upside targets in play.
Res: 0.8830; 0.8850; 0.8880; 0.8909
Sup: 0.8800; 0.8783; 0.8753; 0.8717
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700 as USD struggles ahead of data
EUR/USD is posting small gains above 1.0700 in the European session on Thursday. The pair remains underpinned by a sustained US Dollar weakness, in the aftermath of the Fed policy announcements and ahead of more US employment data.
GBP/USD stays firm above 1.2500 amid US Dollar weakness
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair's uptick is supported by a broadly weakness US Dollar on dovish Fed signals. A mixed market mood could cap the GBP/USD upside ahead of mid-tier US data.
Gold price trades with modest losses amid positive risk tone, downside seems limited
Gold price edges lower amid an uptick in the US bond yields, though the downside seems cushioned. A positive risk tone is seen as another factor undermining demand for the safe-haven precious metal.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.