Daily Technical Strategy On Currencies & Commodities

Discussion in 'Technical Analysis' started by FXTechstrategy.com, May 13, 2016.

  1. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    USDJPY: Looks To Recover Higher With Eyes On 102.00

    USDJPY: The pair halted its weakness to print a rejection candle on Wednesday leaving risk of recovery on the cards. While it continues to reject lower level prices, we look for it to head higher on correction. On the downside, support comes in at the 101.00 level where a break if seen will aim at the 100.50 level. A cut through here will turn focus to the 100.00 level and possibly lower towards he 99.50 level. On the upside, resistance resides at the 102.00 level. Further out, we envisage a possible move towards the 102.50 level. Further out, resistance resides at the 103.00 level with a turn above here aiming at the 103.50 level. On the whole, USDJPY looks to weaken further in the medium term.

    [​IMG]
     
  2. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURJPY: Bear Pressure Remains Intact

    EURJPY: Having continued to hold on to its downside pressure, more bearishness is envisaged. Support comes in at the 111.00 level where a break will aim at the 110.50 level. A turn below here will target the 110.00 level with a breach turning focus to the 109.50 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance lies at the 112.00 level. Further out, resistance comes in at the 112.50 level where a break if seen will threaten further upside towards the 113.00. Further out, resistance resides at the 113.50 level. All in all, EURJPY remains vulnerable in the medium term.

    [​IMG]
     
  3. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    CRUDE OIL Remains Vulnerable On Correction

    CRUDE OIL: The commodity continues to face downside pressure weakening on Thursday to open the door for more weakness. On the downside, support resides at the 45.00 level where a break will expose the 44.00 level. A cut through here will set the stage for a run at the 43.00 level. Further down, support resides at the 42.00 level. On the upside, resistance resides at the 46.00 level. Further out, resistance comes in at the 47.00 level. A break above here will aim at the 48.00 level and then the 49.00 level followed by the 50.00 level. All in all, CRUDE OIL remains biased to the downside on correction

    [​IMG]
     
  4. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD Threatens Further Weakness Towards 1.0909 Level

    EURUSD: With a reversal of its previous week’s gains seen the past week, more decline is envisaged. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside in the medium term.

    [​IMG]
     
  5. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    GOLD: Bullish, Targets Key Resistance

    GOLD: The commodity extended its recovery the past week leaving risk higher in the days ahead. On the downside, support comes in at the 1,355.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,340.00 level. Below here if seen could trigger further downside pressure targeting the 1,330.00 level. Conversely, resistance resides at the 1,370.00 level where a break will aim at the 1,380.00 level. A turn above there will expose the 1,390.00 level. Further out, resistance stands at the 1,400.00 level. Its weekly RSI is bullish and pointing higher suggesting more strength. All in all, GOLD looks to strengthen further in the new week.

    [​IMG]
     
  6. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    GBPUSD: Biased To The Downside In The Medium Term

    GBPUSD: The pair capped its gains to close lower on Wednesday leaving risk lower. On the downside, support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD threatens further downside pressure in the medium term.

    [​IMG]
     
  7. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    GOLD Tumbles, Eyes The 1,312.00 Zone

    GOLD: The commodity reversed its Wednesday gain to weaken on Thursday leaving risk of more lower towards the 1,312.00 zone on the cards. On the downside, support comes in at the 1,312.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,1280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to weaken further on correction

    [​IMG]
     
  8. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    USDJPY Remains On Bullish Offensive

    USDJPY: Having the pair continued to hold on to its upside pressure, further bullishness is likely. On the downside, support comes in at the 105.00 level where a break if seen will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the 103.50 level. On the upside, resistance resides at the 106.00 level. Further out, we envisage a possible move towards the 106.50 level. Further out, resistance resides at the 107.00 level with a turn above here aiming at the 107.50 level. On the whole, USDJPY looks to strengthen further on correction.

    [​IMG]
     
  9. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    USDCHF Closes Flat, Vulnerable To The Downside

    USDCHF: Having the pair closed flat the past week, it remains vulnerable to the downside in the new week. On the downside, support lies at the 0.9750 level. A turn below here will open the door for more weakness towards the 0.9700 level and then the 0.9650 level. Below here will expose the 0.9600 level. On the upside, resistance resides at the 0.9850 level where a break will clear the way for more strength to occur towards the 0.9900 level. Further out, resistance comes in at the 1.0000 level and then the 1.0050 level. All in all, USDCHF remains biased to the downside after rejecting higher level prices the past week.

    [​IMG]
     
  10. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD Sets Up To Weaken Further On Loss Of Momentum

    EURUSD: With the pair rejecting higher price to close almost flat the past week, more weakness is expected in the new week. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside in the medium term.

    [​IMG]
     
  11. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    GOLD Triggers Corrective Pullback

    GOLD: The commodity triggered a corrective weakness the past week leaving risk lower. But it could move a little bit higher in the new week following its Friday close(see daily chart). On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,310.00 level. Further down, a cut through here will open the door for a move lower towards the 1,300.00 level. Below here if seen could trigger further downside pressure targeting the 1,1290.00 level. Conversely, resistance resides at the 1,350.00 level where a break will aim at the 1,360.00 level. A turn above there will expose the 1,370.00 level. Further out, resistance stands at the 1,380.00 level. All in all, GOLD looks to weaken further on correction

    [​IMG]
     
  12. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    GBPUSD Retains Downside Pressure Below Key Resistance Zone

    GBPUSD: The Unless the pair breaks and holds above the 1.3480 zone, risk will continue to point lower on more weakness medium term. On the downside, support lies at the 1.3200 level where a break will turn attention to the 1.3150 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. Conversely, resistance stands at the 1.3400 levels with a turn above here allowing more strength to build up towards the 1.3450 level. Further out, resistance resides at the 1.3500 level followed by the 1.3550 level. On the whole, GBPUSD threatens further downside pressure below its key resistance zone.

    [​IMG]
     
  13. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD: Targets Further Downside Pressure With Eyes On 1.0970 Zone

    EURUSD: Having taken back its Tuesday gains on Tuesday, more weakness is expected. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside on correction.

    [​IMG]
     
  14. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD Faces Further Weakness Threats
    GOLD: Having the commodity closed lower on a follow -through on the back of its previous week losses the past week, more weakness is envisaged. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,1280.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, GOLD looks to weaken further on correction

    [​IMG]
     
  15. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    AUDUSD. The pair saw a rejection of upside pressure during Wednesday trading leaving risk of dmore weakness on the cards. On the downside, support resides at the 0.7400 level where a breach will aim at the 0.7350 level. Below that level will set the stage for a run at the 0.7300 level with a cut through here targeting further downside pressure towards the 0.7250 level. On the upside, resistance lies at the 0.7500 level. A cut through here will turn attention to the 0.7550 level and then the 0.7600 level where a violation will set the stage for a retarget of the 0.7650 level. On the whole, AUDUSD remains biased to the downside medium term.
    [​IMG]
     
  16. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD Bullish, Sees Price Follow-Through

    EURUSD: With the pair extending its Wednesday strength on Thursday, further bullishness is likely in the days ahead. Support lies at the 1.1050 level. Further down, support comes in at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will target the 1.0900 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, on the upside, resistance comes in at 1.1150 level with a cut through here opening the door for more upside towards the 1.1200 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. All in all, EURUSD remains biased to the upside on further recovery.

    [​IMG]
     
  17. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD Puts In Temporary Bottom, Bullish

    EURUSD: With the pair halting its weakness to close higher the past week, we look for more strength to build up in the days ahead. Support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its weekly RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURUSD remains biased to the downside in the medium term.

    [​IMG]
     
  18. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD: Maintains Its Bullish Offensive Short Term

    EURUSD: Having taken out its key resistance at 1.1233 level on Tuesday, more strength is likely in the days ahead. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will target the 1.1050 level. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EURUSD remains biased to the upside on bull pressure.

    [​IMG]
     
  19. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    EURUSD Targets More Upside On Bull Pressure

    EURUSD: Having rallied on a follow through higher the past week, further bullishness is likely. Support lies at the 1.1250 level. Further down, support comes in at the 1.1200 level where a violation will aim at the 1.1200 level. A break of here will target the 1.1150 level. Conversely, on the upside, resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. All in all, EURUSD remains biased to the upside on bull pressure.

    [​IMG]
     
  20. FXTechstrategy.com

    FXTechstrategy.com Well-Known Member Trader

    Joined:
    May 13, 2016
    Messages:
    99
    Likes Received:
    0
    USDCHF Follows Through Higher On Bull Pressure

    USDCHF: With the pair following through higher on the back of previous week gains the past week, more strength should follow. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9750 level where a break will clear the way for more strength to occur towards the 0.9800 level. Further out, resistance comes in at the 0.9850 level. Above here if seen will turn attention to 0.9900. All in all, USDCHF faces further upside pressure short term

    [​IMG]
     

Share This Page

free forex signals