Falling Channel: GBP/USD has been trading in a falling channel since retreating from 1.56 at the beginning of May. This channel anchored below a rising channel and price has fallen to a previous pivot around 1.5025. This is below 61.8% retracement of the previously broken rising channel. As we get into the last session of this week, GBP/USD has rallied above 1.51 to about 1.
Fan Yang | May 24 | FX Times
The Euro climbed to an overnight high of 1.2992 as Germany's IFO Business Confidence survey advanced to 105.7 from 104.4 in April to mark the first rise in three-months, but we're seeing the EURUSD struggle to breakout of the range from earlier this week as European policy makers maintain a cautious outlook for the region.
David Song | May 24 | DailyFX
With AUDUSD seen reversing its recovery attempts on Thursday, there is risk of further downside. Support comes in at the 0.9592 level where a break will target the 0.9500 level. Other supports are located at the 0.9450 level and the 0.9400 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, immediate resistance resides at the 0.9700 level followed by the 0.
Mohammed Isah | May 24 | FX Tech Strategy
With a failed attempt on the upside seeing EUR closing lower on Wednesday, further down side is likely in the days ahead. A return to the 1.2750/35 levels, its key support levels is now expected. Below here will push it further lower towards the 1.2650 level and then the 1.2600 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1.
Mohammed Isah | May 23 | FX Tech Strategy
With GBPJPY continuing to hold on to its broader upside, we look for it to strengthen further in the days ahead. This will leave it targeting the 157.00 level where a violation will aim at the 159.00 level and then the 163.05 level. Its daily RSI is bullish and pointing higher supporting this view. O the downside, in case of any pullback, the 150.
Mohammed Isah | May 21 | FX Tech Strategy
Support lies at the 1.2800 level and next the 1.2750/35 levels, its key support levels. Further down, support comes in at the 1.2600 level. Its weekly RSI is bearish and pointing lower supporting this view.
Mohammed Isah | May 20 | FX Tech Strategy
The Euro slipped to 1.2830 as European Central Bank (ECB) board member Benoit Coeure reiterated that the Governing Council is 'exploring options to further strengthen lending to the real economy and, in particular, to small and medium-sized enterprises,' and it seems as though the central ...
David Song | May 18 | DailyFX
Consolidation: After breaking above a near-term flag consolidation, the USD/JPY broke above last week's high of 102.14 and reached a high of 102.75 today before stalling. By the end of the 5/15 global session, the pair has show bit of expansion and then contraction in volatility, but is still above the 102.00 handle. It has set up a near-term consolidation range between 101.83 and 102.75.
Fan Yang | May 16 | FX Times
Our outlook on USDJPY remains to the upside with a recapture of the 103.00 level on the cards. Further out, resistance resides at the 103.50 level followed by the 104.00 level. Its daily RSI is bullish and pointing higher supporting further upside. On the downside, initial support lies at the 101.25 level where a breach will create scope for more downside towards the 99.93 level.
Mohammed Isah | May 16 | FX Recommends
EUR/AUD has been rallying since the end of March and has been in somewhat of a rising channel. Some key developments here are: 1) Moving averages are in bullish alignment 2) The RSI has held above 40 and tagged 70 many times, reflecting persistent bullish momentum in this time-frame. 3) Rally has broken a projected Trendline from Jan-Feb highs.
Fan Yang | May 15 | FX Times
The Euro slid to a fresh monthly low of 1.2874 as the region's 1Q GDP report showed the growth rate contracting 0.3% versus forecasts for a 0.1% decline, and the prolonged recession may continue to drag on the exchange rate as it fuels speculation for additional monetary support.
David Song | May 15 | DailyFX
With EUR taking out its support at the 1.2955 level to close lower on Tuesday and extending that weakness during early trading today, more decline is expected. Further down, support lies at the 1.2850 level followed by the 1.2750/35 levels, its key support levels. A cut through here will extend its bearishness towards the 1.6.50 level.
Mohammed Isah | May 15 | FX Tech Strategy