EURUSD: With pair weakening strongly following its sell off through the 1.1016/17 levels on Wednesday, further downside pressure is envisaged. While EUR holds below the mentioned broken support, we look for weakness the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will turn risk to the 1.0750 level … “EURUSD Cuts Through The 1.1016/17 Zone, Remains Susceptible”
Category: Forex Bits
GBPUSD Bearish Risk Turns Attention To The 1.5199 Zone
GBPUSD: GBP continues to face downside pressure taking back its Monday gains to close lower on Tuesday. With more weakness underway, it could see further decline towards its key support located at 1.5199 level. On the downside, immediate support lies at the 1.5250 level with a break of here turning attention to the 1.5200 level. … “GBPUSD Bearish Risk Turns Attention To The 1.5199 Zone”
AUDUSD Weakness Sets Up For The 0.7041 Zone
AUDUSD: The pair weakened on Tuesday and was seen weakening further during early trading on Wednesday. On the downside, support comes in at the 0.7100 level where a breach will aim at the 0.7050 level. Below that level will set the stage for a run at the 0.7000 level with a cut through here targeting … “AUDUSD Weakness Sets Up For The 0.7041 Zone”
EURUSD: Bounces Off 1.1016/17 Zone, Faces Recovery Threat
EURUSD: The pair halted its weakness and turned higher on Monday leaving risk of more recovery on the cards. While the 1.1016/17 level zone continues to provide support, we should see a move higher on correction. On the downside, support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A … “EURUSD: Bounces Off 1.1016/17 Zone, Faces Recovery Threat”
GBPUSD: Risk Remains Lower Below The 1.5371/83 Region
GBPUSD: GBP declined sharply the past week leaving risk of more weakness on the cards. While it holds and trades below its cluster of resistance zone at 1.5371/83, its outlook remains lower. Support lies at the 1.5250 level where a break will turn attention to the 1.5300 level. Further down, support lies at the 1.5200 … “GBPUSD: Risk Remains Lower Below The 1.5371/83 Region”
EUR/USD could extend falls – tech analysis
EURUSD: A large sell-off the past week now left EUR testing its key support located at the 1.1016 level. However, this level should provide a temporary support causing a corrective recovery. But if violated, expect more weakness to occur towards the 1.0950 level. Further down, support lies at the 1.0900 level where a violation will … “EUR/USD could extend falls – tech analysis”
USD/CHF Pressure Set Towards The 0.9843 Zone
USDCHF: The pair strengthened the past week taking back its three-week losses to close higher. This development has opened the door for more strength towards its key resistance at the 0.9843 level. This level if broken will set the stage for a run at the 0.9900 level. A breather may occur here and turn the … “USD/CHF Pressure Set Towards The 0.9843 Zone”
GOLD: Maintain Broader Bias, Vulnerable
GOLD: With the commodity continuing to hold on to its downside pressure, further downside pressure is likely. On the downside, support comes in at the 1155.00 level where a break will aim at the 1140.00 level. A cut through here will open the door for move lower towards the 1130.00 level. Below here if seen … “GOLD: Maintain Broader Bias, Vulnerable”
Weaker Yen Aiding Peripheral Assets
The Japanese Yen is one of the forex market’s favorite trading assets, as it is often viewed as a primary vehicle for carry trades. This is largely because the interest rates associated with the currency have held near zero for an extended period of time, and there is very little indication that this trend in … “Weaker Yen Aiding Peripheral Assets”
AUDUSD: Focus Turns To The 0.7197 Level
AUDUSD: The pair remains weak and vulnerable to the downside triggering further weakness during Wednesday trading session today. This is coming on the back of its failed recovery attempt on Tuesday. On the downside, support comes in at the 0.7197 level where a breach will aim at the 0.7150 level. Below that level will set … “AUDUSD: Focus Turns To The 0.7197 Level”