USD/JPY Technical Strategy: FlatSupport: 116.30, 115.37, 113.85Resistance: 117.82, 119.05, 120.27 The US Dollar may be vulnerable to a correction downward against the Japanese Yen as negative RSI divergence points to fading upward momentum. Near-term support is at 116.30, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 14.6% level at 115.37. Alternatively, a push above the 38.2% Fib at 117.82 opens the door for a test of the 50% expansion ...
EURUSD and USDCHF fail to confirm USDOLLAR moveUSDJPY at upper median line parallelAUDUSD follows through on last Friday’s reversal EUR/USD Weekly -BIG picture, monthly RSI has broken out of a triangle pattern. Sometimes, a pattern breakout in momentum (or OBV) precedes the breakout in price. The development’s implications ...
Strategy: Short, Stop: 1.2500 (Close), Target: 1.2270Struggles Below Key Level With Candlestick Signals LackingShooting Star Signaled An Early Warning For A Retreat EUR/USD’s consolidation between the 1.2360 and 1.2500 trading band continues, with clear cues from candlesticks lacking. Yet in the context of a medium-term downtrend the pair may be set to revisit the recent lows near 1.2360. Beneath which would put the August 2012 trough at 1.2250 in sight. A close above 1.2500 ...
Talking Points: EUR/GBP Technical Strategy: FlatSupport: 0.7917, 0.7887, 0.7849Resistance: 0.7947, 0.7985, 0.8030 The Euro has launched a brisk recovery against the British Pound, rising to the highest level in a month. Near-term resistance is at 0.7947, the 61.8% Fibonacci retracement, with a break above that on a daily closing basis exposing the 76.4% level at 0.7985. Alternatively, a turn back below the 50% Fib at 0.7917 opens the door for a challenge of the ...
US DOLLAR TECHNICAL ANALYSIS – Prices may be gearing up for a turn lower after prices produced a bearish Dark Cloud Cover candlestick pattern. Near-term support is at 11246, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 11211. Alternatively, a reversal above the 50% Fib expansion at 11295 clears the way for a test of the 61.8% Fib threshold at 11329. ...
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