USDJPY: With the pair bullish and extending it during Tuesday trading session, it now faces a possible hold above its key resistance turned support at 122.02 level. However, you should keep an eye on that level. On the upside, resistance resides at the 123.00 level with a turn above here aiming at the 123.50 level. … “USDJPY: Bullish, Extends Strength”
Category: Forex Bits
EURUSD: Reverses Gain, Eyes More Weakness
EURUSD: With EUR reversing its previous week gains to lower on a sell, further weakness is envisaged. Resistance is seen at the 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. … “EURUSD: Reverses Gain, Eyes More Weakness”
USDCAD: Strengthens, Eyes Further Upside
USDCAD: With EUR seen strengthening, further bullishness is likely. Its now eyes the 1.2300 level. On the upside, resistance is seen at the 1.2350 level followed by the 1.2400 level. Further out, resistance comes in at the 1.2450 level where a turn lower may occur. But if further recovery is triggered resistance comes in at … “USDCAD: Strengthens, Eyes Further Upside”
EURJPY: Builds Up On Strength
EURJPY- Having closed higher on Wednesday and followed through on Thursday, further strength is envisaged. This development should see the cross target the 135.57 level initially. On the other hand, resistance lies at the 136.00 level where a break will aim at the 136.50 level where a break if seen will threaten further upside towards … “EURJPY: Builds Up On Strength”
Technical analysis: EURUSD: Remains Weak May 20 2015
EURUSD: With EUR seen weakening for a second day in a row, further bearishness is envisaged in the days ahead. Support lies at the 1.1150 level where a breach will aim at the 1.1100 level. Below here if seen will turn attention to the 1.1050 level where a violation will aim at the 1.1000. The … “Technical analysis: EURUSD: Remains Weak May 20 2015”
EURUSD: Maintains Upside Offensive
EURUSD: Having rallied to close above the 1.1390 level the past week, risk of further upside is likely in the new week. However, you should keep your eyes on the 1.1449 and the 1.1533 zone where strong resistance levels are located. Resistance is seen at the 1.1533 level with a cut through here opening the … “EURUSD: Maintains Upside Offensive”
AUDUSD: Faces Price Hesitation, Threatens Pullback
AUDUSD: With price hesitation setting in and halting its recovery started off the 0.7862 level, a move back lower could be building up. On the downside, support resides at the 0.7963 level where a breach will aim at the 0.7900 level. Below that level will set the stage for a run at the 0.7862 level … “AUDUSD: Faces Price Hesitation, Threatens Pullback”
USD/JPY in Large Trading Range above 100-Day EMA
USD/JPY (daily chart as of May 12, 2015) has been trading in a large range since December 7, 2014. The range can be defined as an area between a rising resistance line (connecting the December 7, 2014 high and March 9, 2015 high – bold red line on chart) and its 100-day EMA (bold blue … “USD/JPY in Large Trading Range above 100-Day EMA”
CRUDE OIL: Vulnerable On Loss Of Momentum
CRUDE OIL: Having Crude Oil rejected higher prices on negative candle formation the past week, it now looks to weaken on correction in the new week. On the upside, resistance resides at the 60.00 level where a break will expose the 61.00 level followed by the 62.00 level. A cut through here will aim at … “CRUDE OIL: Vulnerable On Loss Of Momentum”
EURUSD: Vulnerable On Corrective Threats
EURUSD: Having capped its strength at the 1.1390 level to close marginally lower the past week, corrective pullback threats are building up. Resistance is seen at the 1.1300 level with a cut through here opening the door for more downside towards the 1.1390 level. Further up, resistance lies at the 1.1450 level where a break … “EURUSD: Vulnerable On Corrective Threats”