Author: Anil Panchal

Technical Outlook For Gold, Silver & US Dollar Index: 01.02.2019

GOLD

Only if the Gold prices manage to post a weekly closing beyond $1306-08 resistance-region, it can confront $1338 TL barrier, else overbought RSI may play its role in dragging the quote to $1300 and then to the $1288 rest-points. In case prices continue trading downwards past-$1288, the $1275 and the $1266 are likely following numbers to appear on the chart. If at all the yellow metal cross the $1308 mark and rise above $1338, it’s rally to $1360 and then to the $1367 can’t be denied. Moreover, the metal’s successful march above $1367 enables it to challenge the $1375 and the $1381 resistance-levels.

SILVER

With the $16.15-20 horizontal-region again restricting the Silver‘ upside, the $15.80 regain market attention as a support. Though, the white-metal’s downside under $15.80 may find it hard to sustain for long due to upward slanting support-line at $15.40, adjacent to 200-day SMA level of $15.25 and the 50-day SMA level of $15.05. On the contrary, the precious-metal’s advances after $16.20 helps it to accelerate towards $16.50 and then to $16.70. During additional growth beyond $16.70, the $17.00 and the $17.30-35 can please buyers.

US DOLLAR INDEX [I.USDX]

The U.S. Dollar Index (I.USDX) bounced off the 95.25-20 support-confluence, including 200-day SMA and nine-month old ascending trend-line, which in-turn highlights the importance of 96.00 resistances but 96.45-50 resistance-area, comprising 50-day SMA & near-term resistance-line, could limit the gauge’s further rise. Given the pair index rally above 96.50, the 96.70 and the 97.00 may flash on Bulls’ radar. Alternatively, a daily closing under 95.20 can drag the greenback index to 94.75 and then to the 94.40. Also, quote’s further declines below 94.40 may have 93.80 and the 93.20 as follow-on rests.

Technical Update For Important NZD Pairs: 31.01.2019

NZD/USD

NZDUSD heads to nearly eight-month old descending resistance-line, at 0.6945 now, breaking which the 0.6970 and the 0.7000 may please the Kiwi Bulls. Should prices rally beyond 0.7000, the 0.7050-55 and the 0.7100 are likely following numbers to appear on the chart. In case overbought RSI play its role and drag the pair downwards, the 0.6870 and the 50-day SMA level of 0.6800, adjacent to 0.6760 TL support, can limit immediate declines. Given the pair drops beneath 0.6760, the 0.6705 mark including 100-day SMA and another support-line around 0.6635 becomes crucial to watch.

GBP/NZD

Having breached 1.9070-65 horizontal-support, the GBPNZD may slip to seven-week long ascending trend-line, at 1.8850, which if not respected can further fetch the quote to 1.8750. However, the 1.8600-1.8590 may restrict the pair’s dip past-1.8750, breaking which the 1.8475 and the 1.8375 could play their roles. On the contrary, an upside break of 1.9070 can avail 1.9100 and the 1.9190 resistances before confronting short-term resistance-line of 1.9225. Assuming the pair’s successful rise above 1.9225, the 1.9300 and the 1.9425 may please the buyers.

NZD/CAD

Unless clearing the 0.9085-75 region on H4 closing, chances of the NZDCAD’s pullback to the 0.9040 and then to the 0.9015 support-line can’t be denied. Though, pair’s extended south-run under 0.9015, also below 0.9000 psychological magnet, can drag it to the 0.8940 and to the 0.8905 rest-points. Meanwhile, sustained break of 0.9085 enables the pair to aim for 0.9110 ahead of looking at the 0.9165-70 resistance-area. Moreover, buyers’ dominance after 0.9170 might not hesitate challenging the 0.9200 and the 0.9255 numbers to north.

NZD/CHF

Alike NZDUSD, the NZDCHF also rises towards the medium-term resistance, namely the 0.6900 TL, but overbought RSI may question the pair’s afterward strength. If at all prices continue rallying beyond 0.6900, the 0.6940 and the 0.6965 can offer intermediate halts to its run up targeting 0.7000 round-figure. Alternatively, the 0.6815, the 50-day SMA level of 0.6740 and the 0.6700 mark comprising 200-day SMA seem adjacent supports for the pair. Should the 0.6700 SMA figure fall short of limiting the pair’s drop, the 0.6640-35 support-confluence, encompassing 100-day SMA & an upward sloping trend-line, could grab market attention.

Technical Checks For USDCAD, GBP, JPY & CHF: 30.01.2019

USD/CAD

Following its failure to surpass the 1.3370-75 resistance-region, the USDCAD again aims to test the two-month old support-line of 1.3200. Should the pair slips beneath the 1.3200 mark, the 1.3160 and the 1.3125 are likely following numbers to please sellers before flashing 1.3100 on the chart. On the upside, the 1.3280 can limit the pair’s immediate upside prior to highlighting the 1.3370-75 area. In case prices rally beyond 1.3375, the 1.3425 and the 1.3445 seem buffers during its rise to 1.3485-90 horizontal-resistance.

GBP/CAD

GBPCAD’s another reversal from 1.7475-90 resistance-zone signal brighter chances of its pullback to the 38.2% Fibonacci retracement level of 1.7285, breaking which 1.7170 and the 200-day SMA level of 1.7125 can grab the limelight. Given the pair’s refrain to respect the 1.7125, the 1.7060 and the 1.7000 may flash on the Bears’ radar. If at all the pair registers a daily closing past-1.7490 then its surge to 1.7580 and to the 1.7665-70 can’t be denied. During the pair’s sustained advances above 1.7670, the 1.7760 and the 1.7800 may attract market attention.

CAD/JPY

Even if short-term ascending trend-channel portrays the CADJPY strength, the pair needs to overcome the 82.90 horizontal-resistance in order to accelerate its up moves to the 83.40 resistance, including channel’s upper-line. However, the 83.70-80 region and the 84.25 could confine the pair’s north-run past-83.40. Meanwhile, the 82.20 and the channel-support of 82.00 might limit the pair’s adjacent declines, breaking which 81.30 and the 81.00 could come forward as supports. Should the pair continue trading southwards under 81.00, it can target the 80.60 and the 80.00 rest-points.

CAD/CHF

Observing a month-long ascending trend-line, the CADCHF now runs towards 200-day SMA level of 0.7550 ahead of looking at the 0.7580 and a bit broader resistance-line of 0.7600. Assuming the pair’s successful break of 0.7600, the 0.7680 and the 0.7720 may become Bulls’ favorites. Alternatively, a daily closing beneath the 0.7470 support-line highlights the importance of 50-day SMA level of 0.7420 and the 0.7370 levels. Additionally, the 0.7335 and the 0.7300 may appear as quote if the 0.7370 fall short of restricting the pair’s downside.

Technical Overview of EURUSD, GBP, AUD & CHF: 29.01.2019

EUR/USD

A second consecutive daily positive closing by the EURUSD still fall short of clearing the 100-day SMA barrier, which in-turn highlights the importance of 1.1340 and the 1.1300 supports. Should the pair drops beneath 1.1300, the 1.1260 and the 1.1215 are likely following numbers to gain sellers attention as break of which can drag the quote to 61.8% FE level of 1.1080. In case the pair manage to cross the 1.1450 SMA hurdle on a daily closing basis then a downward sloping trend-line, at 1.1530, near to 200-day SMA level of 1.1580, may flash on the chart. Additionally, pair’s sustained trading beyond the 1.1580 could pop-up 1.1610-20 and the 1.1650 on buyers’ radar.

GBP/USD

Unlike EURUSD, the GBPUSD is trading beyond resistance-turned-support confluence and may aim for the 1.3290-1.3300 resistance-zone; however, overbought RSI & the 1.3215 barrier could challenge the pair’s upside. Given the pair surpasses the 1.3300 region, the 1.3365 and the 1.3440 could become Bulls’ favorites. On the downside, a D1 close under 1.3065-60 support-confluence can reprint 1.3000 as levels whereas 100-day SMA level of 1.2900 and the 1.2810 may entertain the Bears afterwards. During the pair’s extended downturn past-1.2810, an ascending support-line, at 1.2740, seem tough support as break of which can diver market to 1.2700 and the 1.2610 rest-points.

AUD/USD

Failure to conquer the 0.7200 mark seems fetching the AUDUSD to 0.7070 support but its further downside might be confined by the 0.7015-10 and the 0.7000 round-figure. If the pair refrains to respect the 0.7000 support, the 0.6975, the 0.6910 and the 0.6800 might offer intermediate halts during the plunge to early-month lows near 0.6730. Alternatively, break of 0.7200 can accelerate the pair towards 0.7240 but the 0.7300-10 area, including 200-day SMA and seven-month old resistance-line, could restrict further rise. Assuming the pair’s ability to cross 0.7310, the 0.7400 and the 0.7445-50 can be targeted if holding long positions.

USD/CHF

USDCHF bounced off the 0.9910-05 horizontal-support but is yet to cross the 0.9935 resistance that holds the gate for its rise to 0.9965 and then to the 0.9990 resistance-line. In case the pair rally above 0.9990, the 1.0005 and the 61.8% FE level of 1.0025 may come back on the chart. Meanwhile, pair dip below 0.9905 can have 0.9870 and the 0.9845 as nearby rests before highlighting the 0.9800 support-figure. Should prices continue slipping under 0.9800, the 0.9785, the 0.9730 and the 0.9700 might try activating a U-turn.

Technical Update For AUD/USD, EUR & GBP: 25.01.2019

AUD/USD

AUDUSD’s sustained trading below 50-day SMA portray the pair’s weakness that can drag it to 0.7015 and the 0.7000 round-figure once 0.7070 immediate support breaks. However, a downward slanting trend-line, at 0.6950 now, could confine the pair’s downside past 0.7000, if not then sellers can again aim for early-month low around 0.6730. Alternatively, the 50-day SMA level of 0.7180, followed by 0.7235, can keep restricting the pair ‘s near-term advances. Given the pair manage to surpass the 0.7235, the 0.7280 and the 0.7305, including 200-day SMA, could gain market attention.

EUR/AUD

With the 100-day SMA level continue limiting the EURAUD’s upside momentum, the pair is likely to revisit the 50-day SMA level of 1.5855 but an upward slanting trend-line at 1.5815 may disappoint sellers then after. In case prices continue trading southwards past-1.5815, the 1.5760 and the 1.5670 may please the Bears. Meanwhile, a daily closing beyond 100-day SMA level of 1.5970 could challenge the 1.6000 round-figure before aiming the 1.6100 resistance. Though, pair’s successful rise past-1.6100 might recall the 1.6190 and the 1.6270 on the chart.

GBP/AUD

Although overbought RSI dragged the GBPAUD after it broke the 1.8380-70 region. the pair can’t be termed weak unless it closes below the 1.8370. Should this happen, then the 1.8350, the 1.8280 and the 1.8200 comeback as quotes. On the upside, the 1.8520 and the 1.8620 are likely adjacent resistances for the pair before it can target the recent high of 1.8725. During the pair’s extended rally above 1.8725, the 1.8800 and the 1.8880 can offer intermediate halts prior to diverting limelight on 1.9000 psychological magnet.

Technical Overview USD, EUR, AUD & CAD: 24.01.2019

USD/CHF

USDCHF’s pullback from 0.9935 can’t be considered as a sign of its strength unless the pair clears 1.0005-10 horizontal-region on a daily closing basis, which in-turn highlights the importance of 50-day SMA level of 0.9920 and 0.9900, including 200-day SMA as immediate supports. However, pair’s declines past-0.9900 might not hesitate recalling the 0.9860 and the 0.9800 on chart. In case prices rally beyond 1.0010, the 1.0040 and the 1.0085 could quickly appear as quote. Additionally, pair’s successful rise above 1.0085 can flash 1.0130 on buyers’ radar.

EUR/CHF

Unlike USDCHF, the EURCHF bounces off the near-term support-line, at 1.1270 now, which in-turn highlights the importance of 1.1315 and the 1.1355-60 resistance-region. Given the pair’s sustained rally after 1.1360, the 1.1390, the 1.1405 and the 1.1435 are likely consecutive resistances to gain market attention. Meanwhile, break of 1.1270 could trigger the pair’s dip to 1.1240 and then to 1.1210 whereas the 1.1190 and the 1.1180 might entertain sellers then after.

AUD/CHF

Failure to clearly cross the 50-day SMA seem dragging the AUDCHF to 0.7030 support, breaking which 0.6960 and the 0.6930 can offer intermediate halts during its drop to 0.6880-70 area. If at all the pair keep trading southwards under 0.6870, the early-month low of 0.6675 may become Bears’ favorite. Alternatively, 50-day SMA level of 0.7130 may restrict the pair’s adjacent rise prior to escalating its recovery to 0.7190 and the 200-day SMA level of 0.7240. Though, eight-month old resistance-line, at 0.7325, could challenge the Bulls past-0.7240, if not then 0.7400 might please them.

CAD/CHF

CADCHF still follows the “Rising Wedge” break indicating the pair’s slump to 0.7340-45 support-zone but 0.7415 & 0.7375 can act as buffers. Should prices slid below 0.7340, the 0.7300, the 0.7245 and the 0.7175 may be aimed if holding short positions. On the upside, 0.7490 and the 0.7515 could confine the pair’s immediate rise. Given the pair’s ability to surpass the 0.7515 barrier, the 0.7550 and the 0.7585 may lure the optimists.

Important GBP Pairs’ Technical Outlook: 23.01.2019

GBP/USD

Following its gradual recoveries since week-start, the GBPUSD again confronts four-month old resistance-line, around 1.2980, which if broken on a daily closing basis can propel the pair towards another important resistance, namely the joint of 200-day SMA and downward slanting trend-line stretched since June 2018, around 1.3080-90. Given the pair manage to print a D1 close beyond 1.3090, also clears 1.3100 mark, it may aim for 1.3180 & 1.3260 numbers to north. If at all the pair again fails to surpass the trend-line barrier, the 1.2910, the 1.2820 and the 50-day SMA level of 1.2755 could regain market attention before highlighting the 1.2700 mark including immediate support-line. Let’s say sellers fetch the quote under 1.2700 then the 1.2615 & 1.2570 might flash on their radars to target.

GBP/JPY

GBPJPY also ticked beyond 50-day SMA level of 142.20 but has to provide a daily closing bigger than that to please buyers with 144.00 and the 100-day SMA level of 144.50. However, 200-day SMA level of 145.55 may confine the pair’s rise after 144.50, if not then 146.00 & 146.80 may become optimists favorites. Meanwhile, the 140.90-80 and the 139.90-70 seem adjacent support to watch during the pair’s U-turn ahead of giving importance to 139.00 rest-point. Should prices keep trading southwards below 139.00, the 137.30 & the  135.75 might offer intermediate halts to its drop in direction to 132.35.

GBP/CAD

In spite of crossing the 1.7310-20 horizontal-region, the GBPCAD could find it hard to extend latest up-moves as an upward slanting trend-line, at 1.7365, adjacent to the 1.7400, might challenge the Bulls. In case the pair refrains to respect the 1.7400 resistance, the 1.7465 and the 1.7500 are likely following levels to appear on the chart. Alternatively, the 1.7250 may act as nearby support for the pair, breaking which lower-line of “Rising Wedge” formation, around 1.7155, can grab the limelight. If the pair slips below 1.7155, it confirms the short-term bearish pattern and could open the gate for a plunge towards 1.7050 & 1.7000 psychological magnet.

GBP/CHF

With the clear break of ten-month old descending trend-line and 200-day SMA, the GBPCHF may rally to 1.3030 and then to 1.3110 but the 1.3170 and the 1.3265-75 area could play their role of resistances afterwards. Given the pair’s rise above 1.3275, the 1.3390 and the 1.3450 can be aimed if holding long positions. On the contrary, a D1 close beneath 1.2920 may reprint 1.2875 and the 1.2830 as quotes while 1.2770 could entertain the pessimists then after. During the pair’s decline past-1.2770, the 100-day SMA level of 1.2750 and the 1.2660, including 50-day SMA, might offer rest to the downturn.

Technical Checks For EUR, USD, CAD & NZD: 22.01.2019

EUR/USD

Ever since the EURUSD declined from 1.1570, it’s moves can be depicted by a short-term descending trend-line, which in-turn presently drags the quote towards 1.1325 support-line. Should prices refrain to respect the 1.1325 rest-point, the 1.1300 and the 1.1265-60 may lure the sellers ahead of pushing them to aim for recent low around 1.1215. If at all the pair manage to cross the 1.1370 TL barrier, the 1.1420 and the 1.1450 could entertain counter-trend traders prior to challenging them with 1.1490-1.1500 resistance-zone. Though, pair’s successful break of 1.1500 enables it to revisit the 1.1540 and the 1.1570 numbers to north.

USD/JPY

USDJPY’s U-turn from 109.90 highlights the importance of 109.00, the 108.50 and the 108.00 consecutive supports for one more time. However, pair’s slide under 108.00 can find a halt near 107.50, breaking which 107.00 & 106.30-25 may gain market attention. Alternatively, upside clearance of 109.90 opens the door for the pair’s recovery to the 110.30 and the 110.80 before turning flashlight on to 200-day SMA level of 111.20. In case the pair surpasses 111.20, the 111.80 and the 112.10, including 100-day SMA, could please the buyers.

USD/CAD

Even after reversing from 100-day SMA, the USDCAD still needs to overcome the 50-day SMA level of 1.3345 on a daily closing basis in order to target the 1.3385 and the 1.3445-50 resistances. Given the pair’s sustained rally past-1.3450, the 1.3560 and the 1.3665 might become Bulls’ favorites. Meanwhile, a D1 close beneath 100-day SMA level of 1.3190 can trigger the pair’s dip to 200-day SMA level of 1.3095 and then to the medium-term support-line figure of 1.3000. Assuming the pair’s extended downturn below 1.3000, the 1.2880 & the 1.2770 may flash on Bears’ radars.

NZD/USD

NZDUSD retests the 0.6710-0.6700 horizontal-support, which if broken could further fetch the quote to 0.6670 and the 0.6650 rest-points. However, pair’s weakness past-0.6650 might only have 0.6620 as an intermediate stop prior to revisiting the 0.6585 support-mark. On the contrary, the 0.6735, followed by descending trend-line at 0.6755, can keep restricting the pair’s adjacent rise, breaking which 0.6790-0.6800 and the 0.6845-50 may play their roles of resistances. During the pair’s additional strength beyond 0.6850, the 0.6880 and the 0.6915 might be targeted if holding long positions.

Technical Overview of Important CAD Pairs: 18.01.2019

USD/CAD

Having reversed from 1.3325-15 resistance, the USDCAD is declining towards 1.3210 but the ten-week old ascending support-line, at 1.3185, could confine the pair’s downside then after. Should prices continue trading southwards past-1.3185, the 1.3125 and the 1.3080 may offer intermediate halts during the pair’s slip to 1.3055. If at all the pair manage to surpass the 1.3325 upside barrier, the 1.3380 & the 1.3420 can please buyers prior to challenging them with 1.3440-45 resistance-region. Given the pair’s ability to cross the 1.3445 mark, the 1.3500 & the 1.3565 might gain market attention.

EUR/CAD

Alike USDCAD, the EURCAD is also gradually slipping in direction to a TL support, at 1.5060, which if broken highlights the importance of 1.5000 psychological magnet. During the pair’s sustained dip beneath 1.5000, the 1.4950 & the 1.4900 seem to be buffers ahead of fetching the quote to 1.4845 support. Alternatively, the 1.5170 trend-line resistance can limit the pair’s nearby advances, breaking which 1.5180 & 1.5240 could appear on Bulls’ radars. However, the 1.5300-1.5310 horizontal-zone may restrict the pair’s rally above 1.5240, if not then 1.5400 can come back on the chart.

NZD/CAD

Failure to overcome the 0.9075-85 resistance-area presently drags the NZDCAD to 0.8950 support-line, breaking which the 0.8930, the 0.8915 and the 0.8900 may entertain the sellers. Though, pair’s refrain to respect the 0.8900 round-figure might not hesitate calling the 61.8% FE level of 0.8870 as a quote. Meanwhile, the 0.9000 & the 0.9030 can act as adjacent resistances for the pair before fueling it to the 0.9060 resistance-line. Should prices surge past-0.9060, the 0.9075-85 and the 0.9110 can become optimists favorites.

Technical Outlook For USD/JPY, EUR/JPY, AUD/JPY & CAD/JPY: 17.01.2019

USD/JPY

USDJPY’s pullback from 109.10-20 is less likely to signal the pair’s weakness unless a sustained drop beneath three-week-old upward slanting trend-line, at 108.40 now, takes place on the four-hour chart. If the pair slip under the 108.40, the 107.70, the 107.00 and the 106.70 support-levels may gain sellers’ attention. Meanwhile, clear break of 109.20 enables the pair to aim for the 109.50 and the 110.00 resistances. In case prices manage to extend its up-moves past-110.00, the 110.25-30 seems crucial to watch as it holds the gate for the pair’s rally to 110.80 & 111.35-40 numbers to north.

EUR/JPY

Inability to cross the 124.85-125.15 region indicates brighter chances of the EURJPY’s another dip to 123.40, breaking which 122.50 could flash on Bears’ radars. Should prices continue trading southwards below 122.50, the 122.00, the 120.60 and the 120.00 might offer intermediate halts during its drop to 118.65. If at all the quote surpasses 125.15 on a daily closing basis, the 125.80, the 126.40 & 50-day SMA level of 127.20 can lure the buyers. Though, a descending trend-line stretched since late-September, at 127.70, may confine the pair’s rise beyond 127.20, if not then 200-day SMA level of 129.10 and the 130.00 round-figure could be targeted on long positions.

AUD/JPY

Not only more than a month old resistance-line, at 78.20, but the 78.50-70 area also challenges the AUDJPY’s upside, which if conquered opens the gate for the pair’s rise to 79.00 & 80.00. However, 50-day & 100-day SMA confluence, around 80.35-45, may limit the advances after 80.00, which if not respected can trigger the pair’s surge to 81.40 level, including 200-day SMA. Alternatively, the 77.55 & the 77.00 could hold the pair’s decline captive, breaking which 76.00 and the 75.20 might come forward as supports. Assuming the pair’s weakness below 75.20, the 74.40, the 72.40 and the 70.85 could become its next rests.

CAD/JPY

Unless breaking 82.40-55 resistance-zone, the CADJPY may fall short of aiming the 83.00, needless to mention about 50-day SMA level of 83.80 and the three-month long descending trend-line, at 84.00. Given the pair crosses 82.55 and the 84.00 barriers, the 200-day SMA level of 84.95 and the 85.20 might become Bulls’ favorites. On the downside, the 81.65 support-line break can fetch the quote to 81.00 and then to 80.60 prior to highlighting the 80.00 psychological magnet. Should prices slide beneath 80.00, the 79.60, the 78.50 and the 77.15 can appear in limelight.

Technical Update For EUR/USD, GBP/USD, NZD/USD & USD/CHF: 16.01.2019

EUR/USD

Having failed to sustain 100-day SMA breakout, the EURUSD now rests around 50-day SMA level of 1.1380, breaking which nine-week old support-line, at 1.1320, and the 1.1260 can reappear on the chart. In case prices continue declining under 1.1260, the 1.1215 and the 61.8% FE level of 1.1080 may gain sellers’ attention. Meanwhile, the 1.1475 comprising 100-day SMA, followed by the 1.1550 & the 1.1570 could confine the pair’s near-term advances prior to challenging the 1.1610-25 region including 200-day SMA. If at all the pair manage to provide a daily closing beyond 1.1625, the 1.1700, the 1.1730 & the 1.1800 might please the buyers.

GBP/USD

GBPUSD is struggling with 100-day SMA level of 1.2895 in order to justify its strength in targeting the four-month old descending TL, at 1.3000. Given the pair’s D1 close past-1.3000, the 1.3070 and the 200-day SMA level of 1.3115 can well be aimed at if holding long positions. Assuming the pair’s inability to cross 1.2895 barrier, it may revisit the 1.2760 and the 1.2700 rest-points. However, an upward slanting trend-line, at 1.2670, could trigger the quote’s U-turn, if not then 1.2600 & 1.2550 might become Bears’ favorites.

NZD/USD

With its another dip from 200-day SMA, NZDUSD is likely to re-test the 0.6750 and the 0.6700 supports but 100-day SMA number of 0.6680 could restrict the pair’s further downside. Should the pair refrains to respect the 0.6680 mark, the 0.6600 TL figure seem crucial to watch as break of which can highlight the importance of 0.6540 & 0.6500 levels. On the contrary, the 0.6850 and the 0.6900 resistance-line might act as nearby strong upside hurdles for the pair, breaking which 0.6940 & 0.6965 could fetch the limelight. During the pair’s successful rise after 0.6965, the 0.7000 & the 0.7055 may flash on Bulls’ radar.

USD/CHF

Even after gradually recovering since a week, the USDCHF still needs to conquer a downward slanting trend-line stretched since mid-November, around 0.9890 now, to look towards 0.9920 & 0.9960 resistances. Though, 1.0000-1.0010 horizontal-area might question the pair’s strength above 0.9960, failing to which could push it to 1.0040 & 1.0080 numbers to north. Alternatively, the 0.9850 & the 0.9830 support-line may give troubles to sellers, breaking which 0.9800 & 0.9790-85 zone can come to their help. In case prices keep sliding under 0.9785, the 0.9760, the 0.9715 and the 61.8% FE level of 0.9660 could offer consecutive rests to the pair.

Technical Checks For AUD/USD, EUR/AUD & AUD/JPY: 11.01.2019

AUD/USD

AUDUSD needs to close beyond 50-day & 100-day SMA confluence-region of 0.7195-80 in order to aim for 0.7240 and the 0.7300 resistances; however, the 0.7330-40 area, comprising 200-day SMA & nine-month old descending trend-line, can restrict the pair’s upside past-0.7300. In case prices continue rallying past-0.7340, the 0.7400, the 0.7440 & the 0.7485 may flash on Bulls’ radars to target. Meanwhile, failure to offer a D1 close above 0.7195 could drag the pair back to 0.7150 and then 0.7075 prior to challenging the 0.7015-10 support-zone. Assuming the pair’s sustained downturn under 0.7010, the 0.6970, the 0.6900 and the 0.6825 might act as intermediate halts during its plunge to 0.6730.

EUR/AUD

Failure to hold its uptick to 1.6690 seems fetching the EURAUD to 1.5885-80 horizontal-line, breaking which the 1.5820, the 1.5780 and the 1.5700 could gain market attention before highlighting the 1.5675-70 for sellers. Given the quote declines beneath 1.5670, the 1.5580 & 1.5510-1.5500 might become Bears’ favorites. Alternatively, the 1.6085 trend-line can limit the pair’s near-term upside but break of which can print 1.6200 on the chart. Moreover, pair’s successful rally above 1.6200 may avail the 1.6280, 1.6320 and the 1.6400 to please the buyers.

AUD/JPY

Short-term ascending trend-line is likely favoring the AUDJPY’s gradual recovery towards month-long resistance-line, at 78.65, which in-turn can open the gate for the pair’s rise to 79.30 & 80.00 round-figure. Though, 80.60-65 might confine the pair’s advances after 80.00, if not then 81.20 & 81.60 could be targeted if having long positions. On the contrary, break of 77.90 support-line may trigger the pair’s fresh dip to 77.00 and to 76.00. If at all trade sentiment remains in favor of pessimists below 76.00, the 75.20 & 74.00 seem crucial supports.

Important CHF Pairs’ Technical Overview: 10.01.2019

USD/CHF

In spite of dropping to the lowest levels in fifteen-weeks’ time, the USDCHF still bounced off the eleven-month long ascending support-line, at 0.9710, which together with near oversold RSI signal brighter chances of the pair’s pullback moves to 0.9790 & 0.9840 immediate resistances. Should the pair manage to conquer 0.9840 barrier, the 200-day SMA level of 0.9885, the 0.9915 trend-line resistance and the 0.9950, including 50-day SMA, can entertain the buyers. In case prices close beneath 0.9710, also dip under 0.9700 round-figure, on a D1 basis, the 0.9680, the 0.9630 and the 0.9600 may flash on the chart. Moreover, pair’s sustained downturn below 0.9600 might not hesitate visiting the 0.9580 and the 0.9530 rest-points.

CHF/JPY

Having reversed from 111.25-40 resistance-region, the CHFJPY is likely declining towards 110.00 and then to 109.70 before testing the 109.20 support. Given the quote slips under the 109.20, the 108.60 and the 108.20 may regain market attention prior to highlighting the recent low around 106.15. Alternatively, a clear break of 111.40 could help the pair to rise in direction to 111.90 and 112.80-90 hurdles to north. Though, pair’s successful rally above 112.90 can please Bulls with 113.50 & 114.00 levels.

GBP/CHF

With the short-term descending trend-line restricting the GBPCHF upside, the pair is likely to aim for 1.2375-65 support-zone, breaking which 1.2285 might appear on sellers’ radar. If Bears refrain to respect the 1.2285 mark, the 61.8% FE level of 1.2165 should be targeted while holding short positions. Meanwhile, break of 1.2510 resistance-line can accelerate the pair’s recovery to 1.2590-1.2605 resistance-area. Assuming the buyers’ capacity to cross 1.2605, the 1.2670 and the 1.2710 could become their favorites.

AUD/CHF

AUDCHF presently rises to confront the 0.7030-45 broad resistance that’s been limiting the pair’s upside since three-weeks. If at all the prices surpass 0.7045, the 0.7070 & the 0.7100 could offer intermediate halts during their rally to 0.7150. On the contrary, 0.6960 support-line seems adjacent rest for the pair, breaking which it can dip to 0.6885 and 0.6825. However, extended south-run past-0.6825 can recall 0.6675 as a quote.

Technical Outlook For EURUSD, GBPUSD, USDJPY & USDCAD: 08.01.2019

EUR/USD

Unless successfully clearing the 1.1490-1.1500 resistance-region, EURUSD is less likely to remain strong for long, which in-turn highlights the importance of 1.1400 & 1.1360 rest-points. Though, an upward slanting trend-line, at 1.1300, might confine the pair’s declines past-1.1360, if not then 1.1260 & 1.1215 may regain sellers’ attention. Alternatively, breach of 1.1500 enables the pair to aim for the 1.1550 and the 1.1580 numbers to north ahead of confronting the 1.1610-20 upside barrier. Moreover, quote’s sustained up-moves beyond 1.1620 could avail 1.1650 as an intermediate halt before targeting the 1.1720-30 resistance-zone.

GBP/USD

GBPUSD is another major that’s struggling with immediate resistance, namely the 1.2795-1.2800 TL, break of which is required for the pair to escalate its recovery to 1.2830 and to 1.2880 levels. Should the pair manage to conquer 1.2880 hurdle, it can rally to the 1.2950, the 1.3000 and the 1.3035-40 consecutive upside figures prior to challenging the 1.3065-70 horizontal-area. In case prices take U-turn from current levels, the 1.2700 and the 1.2660 may appear in limelight whereas the 1.2610 and the 1.2545-35 could restrict additional south-run. Given the pair’s refrain to respect the 1.2535 support, the 1.2475, the 1.2430 and the 61.8% FE level of 1.2380 can become Bears’ favorites.

USD/JPY

Even after gradually rising from its last-week’s lows, the USDJPY still needs to cross the adjacent TL resistance, at 109.00 now, otherwise it’s slide under the 108.65 support-line can reprint 108.00 & 107.00 on the chart. If at all the pair continue trading down beneath 107.00, the 106.75, the 105.50 and the 104.75 might come back as quotes. Meanwhile, pair’s advances above 109.00 may have 109.60 and the 110.25-30 as follow-on benchmarks to avail, which if broken could please the buyers with 110.80 & 111.50. However, the 112.20-30 might question the pair’s strength after 111.50, breaking which the 112.70, the 113.00 and the 113.20 could lure the Bulls.

USD/CAD

Unlike all the aforementioned pairs, USDCAD has already dropped below a quarter-old ascending trend-line and 50-day SMA, which in-turn speaks louder of its weakness towards testing the 1.3225 and the 1.3160 mark, comprising 100-day SMA. Assuming the pair’s extended downturn past-1.3160, the 200-day SMA level of 1.3065 and a year-long upward slanting support-line, at 1.2990, may be aimed at if holding short positions. On the contrary, a daily closing above 50-day SMA level of 1.3320 can push the pair to support-turned-resistance line of 1.3360 and then to 1.3385. It should also be noted that pair’s successful rise beyond 1.3385 could help it target the 1.3440 and the 1.3500 round-figure.

Technical Update For GBP/USD, EUR/GBP & GBP/CAD: 04.01.2019

GBP/USD

With more than a quarter old support-line pulling the GBPUSD up, 50-day SMA level of 1.2775 is likely to play its role of resistance soon, if not then 1.2900 mark, comprising 100-day SMA, followed by 1.3000 round-figure, may gain buyers’ attention. Should prices rise beyond 1.3000 on a daily closing basis, eight-month long downward slanting TL, at 1.3055, and the 200-day SMA level of 1.3165 seem crucial to watch. Alternatively, the 1.2600, the 1.2570 and the 1.2500 could try limiting the pair’s declines before highlighting the 1.2425 TL support for one more time. In case the quote registers a D1 close under 1.2425, the 61.8% FE level of 1.2380 and the 1.2300 might entertain sellers prior to pleasing them with the 1.2200 & the 1.2120, including 100% FE, numbers to south.

EUR/GBP

Another failure to sustain an uptick past-0.9060-70 resistance-region presently drags the EURGBP towards ascending trend-line, at 0.8935, which if broken can fetch the pair to 0.8880-75 and 0.8810-0.8800 rest-points. Given the Bears’ refrain to respect the 0.8800 mark, the 0.8770, the 0.8740 and the 0.8690 may flash on their radars. Meanwhile, 0.9030 can serve as immediate resistance for the pair ahead of pushing Bulls to 0.9060-70 area. Though, successful clearance of 0.9070 enables the pair to target the 0.9105 and the 61.8% FE level of 0.9160.

GBP/CAD

GBPCAD is yet to justify its strength by conquering the 1.7130-40 resistance-zone, until that the pair might be considered weak enough to re-test the 1.6950-45 horizontal-support. If at all 1.6945 fall short of restricting the pair’s dip, the 1.6880, the 1.6775 and the 1.6700 could act as consecutive supports. On the contrary, pair’s ability to cross the 1.7140 barrier can escalate the recovery to 1.7200 and the 1.7270 but the 1.7315-20 may confine its further advances. Assuming the quote’s capacity to surpass 1.7320, the 1.7350, the 1.7400 and the 1.7465 might provide buffers during its rally to 1.7500 landmark.

Technical Overview of EUR/USD, NZD/USD, USD/CAD & USD/CHF for 03.01.2019

EUR/USD

Following its U-turn from 1.1490-1.1500 resistance-region, EURUSD bounced off the seven-week long ascending support-line, near 1.1295, which in-turn signal brighter chances for the 1.1400 and the 1.1420 to reappear on the chart. However, 100-day SMA level of 1.1480 and the 1.1490-1.1500 could confine the pair’s upside past-1.1420, if not then the 1.1560, the 1.1610 and the 1.1660, including 200-day SMA, might flash on Buyers’ radar to target. If at all the pair fails to sustain recent move and registers a daily closing under 1.1295, it’s drop to 1.1260 and 1.1215 can’t be negated. Also, pair’s additional downside beneath 1.1215 may make the 61.8% FE level of 1.1120 as market favorite.

NZD/USD

Alike EURUSD, the NZDUSD also rests on immediate TL support, here it is 0.6580, break of which is necessary for the pair to decline further in direction to 0.6550 & 0.6500 numbers to south. Should prices continue trading down after 0.6500, the 0.6470 and the 0.6470 can regain Bears’ attention. Alternatively, the 100-day SMA level of 0.6670 and the 0.6685-0.6700 region may limit the pair’s near-term advances, which if broken highlights the importance of 0.6755, including 50-day SMA. Assuming the pair’s successful rise beyond 0.6755, the 200-day SMA level of 0.6815 and the nine-month old resistance-line, at 0.6925, could lure the Bulls.

USD/CAD

In spite of its latest pullback, USDCAD is less likely to be termed weak unless it prints a W1 close below 1.3560-40 support-zone. As a result, the pair is expected to stretch its north-run  a bit longer prior to confronting an upside barrier, i.e. the 1.3790-1.3820 resistance-confluence. Given the pair manage to conquer the 1.3820 hurdle on a weekly closing, the 1.3930 and the 1.4000 might be targeted if holding long positions. Meanwhile, break of 1.3540 can trigger the pair’s declines to 1.3440 and the 1.3380 rest-points, breaking which 1.3300 and the 1.3230 may please the sellers.

USD/CHF

Not only a downward slanting trend-line at 0.9935 but the 1.0005-10 resistance-area also restricts the USDCHF upside. Hence, the pair needs to clear both these resistances in order to aim for 1.0040 and the 1.0080 ahead of looking at the 1.0110 & the 1.0130 figures to north. On the contrary, the 0.9840 and the 0.9815 seem adjacent supports for the pair, breaking which 0.9785 and the 61.8% FE level of 0.9735 might challenge the downside.

Technical Checks For Important JPY Pairs: 28.12.2018

USD/JPY

Having failed to cross 111.35-40 horizontal-resistance, the USDJPY again dips beneath 200-day SMA and aims for the 109.80-75 rest-region. In case oversold RSI fall short of activating the pair’s U-turn around 109.75, the 109.30, the 109.00 and the 108.60 can act as intermediate halts before drawing market attention to the 108.10-107.75 support-zone. Alternatively, an upside clearance of 111.40 on a daily closing basis could quickly fuel the quote towards the 111.80 and the 100-day SMA level of 112.40. Moreover, pair’s successful rise beyond 112.40 enables it to confront the 113.15 and a downward slanting resistance-line near 113.80.

CAD/JPY

Even after trading near the lowest levels in nine-months, the CADJPY is yet to provide a weekly closing under 80.65-50 area that has been restricting the pair’s downturn since early 2017. If at all the Bears manage to conquer 80.50, the 80.00, the 79.60 and the 78.80 are likely following numbers to appear on the chart. Meanwhile, the 82.05-15 may continue limiting the pair’s near-term advances, breaking which 83.00 & 83.50 might lure the buyers. It should also be noted that the pair’s sustained up-move past-83.50 can flash the 84.30, the 84.70 and the 85.60 on Bulls’ radars.

CHF/JPY

CHFJPY struggles with 200-day SMA level of 112.40 in order to justify its strength in targeting the 112.80 and the 113.10, comprising 50-day SMA. Though, three-month old descending trend-line, at 113.85 now, may confine the pair’s up-moves after 113.10, if not then 114.00 and the 114.40 can grab the limelight. On the downside, the 111.55-35 seem immediate support for the pair, breaking which 111.00 and the 110.60 needs to be observed carefully. Given the pair’s extended south-run below 110.60, the 110.00, the 109.45 and the 108.60 may become sellers’ favorites.

Technical Outlook For AUD/USD, GBP/AUD, AUD/NZD & AUD/CHF: 27.12.2018

AUD/USD

While three-week long descending trend-line continue restricting AUDUSD’s near-term upside, the pair has to close beneath 0.7020 in order to please sellers with fresh lows. In doing so, the quote can drop to 0.7000 round-figure and then to the 0.6930-25 support-zone ahead of aiming 61.8% FE level of 0.6900. Alternatively, the 0.7085 is likely immediate resistances for the pair prior to confronting the 0.7115 TL barrier, breaking which 0.7160 and 50-day SMA level of 0.7190 may come back on the chart. Moreover, pair’s sustained trading beyond 0.7190 could flash 0.7235-40 and the 0.7300 resistances on buyers’ radar.

GBP/AUD

Failure to surpass 1.8050-60 resistance-region may well drag the GBPAUD to adjacent support-line, around 1.7790, which if broken highlights the importance of 1.7730 and the 1.7650 rest-points. In case prices refrain to respect 1.7650 mark, the 1.7550, the 1.7470 and the 1.7370 could become Bear’s favorites. On the contrary, successful clearance of 1.8060 can trigger the pair’s rise towards the 1.8150 and the 1.8250 numbers to north. During the pair’s extended recovery past-1.8250, the 1.8360, the 1.8420 and the 1.8460 might entertain the Bulls.

AUD/NZD

AUDNZD still finds it hard to conquer eight-week old downward slanting resistance-line that gradually fetches it to the 1.0450-45 support-area that holds the gate for the pair’s further downturn to 1.0430 and then to the 61.8% FE level of 1.0380. Assuming the pair’s weakness under 1.0380, the 1.0365 and the 1.0320 can play their roles of crucial support-levels. If at all the pair manages to cross 1.0510 trend-line resistance, the 1.0530 and the 1.0580-90 may quickly mark their presence. However, the 1.0620 and the 1.0690-1.0700 might confine the pair’s advances after 1.0590, if not then 1.0765 seem critical if holding long positions.

AUD/CHF

Even after taking a U-turn from 0.6950-45, the 0.7000 and the 100-day SMA level of 0.7120 could challenge the AUDCHF’s recent pullback, which if surpassed can escalate the up-moves to 0.7190 and the 0.7250 resistances. Should the quote remain strong after 0.7250, the 0.7270, comprising 200-day SMA, followed by eleven-month long resistance-line at 0.7355, may lure the optimists. Meanwhile, a downside break of 0.6945 can have 0.6900 and the 0.6870 as rests before diverting market attention to 61.8% FE level of 0.6800 and the 0.6750 supports.

Technical Update For EUR/USD, GBP/USD, NZD/USD & USD/CHF: 26.12.2018

EUR/USD

A fortnight old ascending trend-line presently challenges EURUSD sellers around 1.1380, which if broken can quickly drag the quote to 1.1330 and then the 1.1300 but the 1.1270-65 horizontal-line could confine the pair’s following downside. In case the pair continue trading southwards past-1.1265, the 1.1215 and the 1.1200 may flash on the chart. Alternatively, the 1.1425 and the 1.1445-50 might restrict the pair’s near-term advances prior to highlighting the 1.1480-1.1500 resistance-region, comprising 100-day SMA on D1. If at all buyers conquer 1.1500 mark, the 1.1550, the 1.1570 and the 1.1620 can appear on their radars to target.

GBP/USD

With the short-term “Rising-Wedge” directing GBPUSD moves, the pair has to slid beneath the 1.2640 support in order to justify the bearish formation and aim for 1.2530. Should prices weaken under 1.2530, the 1.2475, the 1.2400 and the 61.8% FE level of 1.2365 can become Bears’ favorites. Meanwhile, pair’s sustained break of 1.2745 resistance-line defies the pattern and could extend the recovery towards 1.2810 ahead of confronting 1.2880-85 barrier. Additionally, the 1.2950, the 1.3000 and the 1.3035-40 can entertain Bulls beyond 1.2885.

NZD/USD

Unless breaking the 0.6705-0.6685 support-zone, the NZDUSD is less likely to revisit the 0.6630 and the 0.6600 round-figure; though, pair’s extended declines below 0.6600 may look for 0.6565, the 0.6500 and the 0.6460 rest-points. Given the pair takes a U-turn, the 0.6785 and the 0.6835 resistance-line could play their roles, which if ignored might give rise to the 0.6880 and the 0.6915 numbers on the chart. Assuming the pair’s successful rally over 0.6915, the 0.6970, the 0.7000 and the 0.7020, encompassing 61.8% FE, should be watched carefully.

USD/CHF

Even after trading near the lowest levels in more than two-months, the 200-day SMA level of 0.9865 still acts as a strong support for the USDCHF, which if broken on a daily closing basis can drag the pair to 0.9820 and then to 0.9790-80 support-area. In case prices dip beneath 0.9780, the 0.9750 may offer intermediate halt during their plunge to 0.9680 support-line. On the upside, the 0.9900, the 0.9950 and the 50-day SMA level of 0.9980 can act as immediate resistances for the pair before diverting market attention to 1.0000-10 territory. Given the pair manage to cross 1.0010 and marches afterwards, the 1.0060, the 1.0100 and the 1.0130 may again mark their presence.

Technical Overview of Gold, Silver & US Dollar Index : 21.12.2018

GOLD

Successful break of 200-day SMA fall short of clearing the $1266-67 horizontal-resistance, which in-turn drags the Gold presently towards aforesaid SMA figure of $1252 and then to the $1250 mark. In case the metal refrains to respect the $1250, the $1240-38 may regain market attention as strong support-zone. Though, beak of $1238 might not hesitate fetching the Bullion to $1230 and the $1217 whereas $1212-11 confluence, comprising 100-day SMA & an ascending TL, could restrict the downside afterwards. On the contrary, a D1 close beyond $1267 enables the metal to aim for $1275 and the $1282 numbers to north. Given the prices continue rallying past-$1282, the $1285, the $1288 and the $1293 can act intermediate halts prior to highlighting $1300 and the $1307 on chart.

SILVER

Silver also surpassed an important resistance, namely the 100-day SMA, for the first time in over six-months but is yet to cross the $14.90 – $15.00 area, which if broken could escalate the recovery to $15.30 and 200-day SMA level of $15.45. Should the quote conquer $15.45 hurdle, the $15.65, the $15.75 and the $16.00 may appear on buyers’ radar to target. Alternatively, the 100-day SMA level of $14.50 and the $14.20 can serve as immediate supports for the metal ahead of pushing sellers to $14.00. If at all Bears keep dominating under $14.00, the $13.88 and 61.8% FE level of $13.73 might become their favorites.

US Dollar Index [I.USDX]

Even after reversing from 97.75-70 region the US Dollar Index (I.USDX) didn’t close beneath an upward slanting support-line stretched since April, not to mention about 96.15-10 horizontal-line. As a result, chances of witnessing a pullback to the 97.00, the 97.30 and the 97.55 seem brighter. In case 97.55 fail to limit the index upside, the 97.70-75, the 98.00 and the 61.8% FE level of 98.60 could please the Bulls. Meanwhile, daily closing below 96.10 can trigger the index dip to 100-day SMA level of 95.95 and then to 95.50. It should also be noted that the gauge’s sustained downturn past-95.50 may reprint 94.80 and the 94.40, including 200-day SMA, as quotes.