Forex Technical Analysis by FXOpen

[FXOpen]

GBP/USD and EUR/GBP: British Pound Remains At Risk

GBP/USD topped near the 1.2640 level and started a fresh decline below 1.2550. EUR/GBP is showing positive signs and it could rise further above 0.8800.

GBP/USD Technical Analysis
This past week, the British Pound climbed higher nicely above the 1.2550 and 1.2600 resistance levels against the US Dollar. However, the GBP/USD pair failed to continue higher above 1.2640 and started a fresh decline.

A high was formed near 1.2640 on FXOpen before the pair started a fresh decline. It broke the 1.2600 and 1.2550 support levels. Besides, there was a close below the 1.2520 level and the 50 hourly simple moving average.

The pair is now trading well below the 61.8% Fib retracement level of the upward move from the 1.2389 low to 1.2640 high. At the moment, the bears are attempting a downside break below a key bullish trend line with support at 1.2445 on the hourly chart of GBP/USD.


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[FXOpen]

EUR/USD And USD/JPY Could Extend Losses

EUR/USD is gaining bearish momentum below 1.0890 and 1.0855 support levels. Similarly, USD/JPY is trading in a bearish zone and it could struggle to recover above 106.50.

EUR/USD Technical Analysis
This week, the Euro started a fresh decline from well above the 1.0900 support zone against the US Dollar. The EUR/USD pair broke the 1.0890 and 1.0880 support levels to enter a bearish zone.

Moreover, there was a close below the 1.0880 level and the 50 hourly simple moving average. During the decline, the pair broke the 76.4% Fib retracement level of the upward move from the 1.0832 low to 1.1018 high (formed on FXOpen).

Besides, there was a break below a major bullish trend line with support near 1.0890 on the hourly chart of EUR/USD. The pair is now trading near the 1.0832 low and it could continue to move down in the near term.

Read more about EUR/USD and USD/JPY Analysis on FXOpen blog...

 

[FXOpen]

EUR/JPY and GBP/JPY Recovery Could Face Hurdles

The Euro and British Pound are currently correcting higher against the Japanese Yen. However, both EUR/JPY and GBP/JPY are likely to face many hurdles on the upside.

EUR/JPY Technical Analysis
In the past few days, the Euro declined heavily from well above the 116.50 level against the Japanese Yen. The EUR/JPY pair broke many important supports near 116.00 and 115.80 to enter a bearish zone.

Besides, there was a close below the 115.50 level and the 50 hourly simple moving average. It traded to a new monthly low at 114.43on FXOpen and it is currently correcting higher.

There was a break above the 115.00 resistance and the 50 hourly simple moving average. The pair broke the 23.6% Fib retracement level of the downward move from the 117.76 high to 114.43 low.

Read more about EUR/JPY and GBP/JPY Analysis on FXOpen blog...

 

[FXOpen]

GBP/USD Recovering Nicely, USD/CAD is Following Downtrend

GBP/USD started a fresh increase above the 1.2350 resistance area. Conversely, USD/CAD declined heavily and it is now trading well below the 1.4000 pivot level.

GBP/USD Technical Analysis
This past week, the British Pound extended its decline below the 1.2400 support area against the US Dollar. The GBP/USD pair traded to a new monthly low at 1.2266 on FXOpen before starting a fresh increase.

The pair recovered nicely above the 1.2320 and 1.2350 resistance levels. Besides, there was a break above the 1.2400 resistance area and the 50 hourly simple moving average.

The bulls were able to lead the pair above the 38.2% Fib retracement level of the downward move from the 1.2640 high to 1.2266 low. More importantly, there was a break above a key bearish trend line with resistance near 1.2400 on the hourly chart of GBP/USD.

Read more about GBP/USD and USD/CAD Analysis on FXOpen blog...

 

[FXOpen]

EUR/USD and EUR/JPY Trading Near Crucial Juncture

EUR/USD is currently facing a strong resistance near the 1.0880 and 1.0900 levels. EUR/JPY is slowly rising and it is struggling to stay above a major support at 116.15.

EUR/USD Technical Analysis
In the past few sessions, the Euro remained stable above the 1.0785 and 1.0800 support levels against the US Dollar. The EUR/USD pair started a decent recovery and climbed above the 1.0820 resistance.

Besides, there was break above the 1.0850 resistance zone and the 50 hourly simple moving average. During the rise, there was a break above a key bearish trend line with resistance near 1.0845 on the hourly chart of EUR/USD.

The pair even spiked above the 1.0880 level and traded as high as 1.0884 on FXOpen. It failed to continue higher above the 1.0880 and 1.0900 resistance levels.

Read more about EUR/USD and EUR/JPY Analysis on FXOpen blog...

 

[FXOpen]

Gold Price And Crude Oil Price Eyeing More Upsides

Gold price started a steady rise above the $1,700 and $1,710 levels. Similarly, crude oil price is showing positive signs and it could continue to rise above $28.00.

Gold Price Technical Analysis
Gold price remained well bid above the $1,680 level and climbed above $1,700 against the US Dollar. There was a clear break above the $1,718 and $1,722 resistance levels to start a decent increase.

The price even settled above the $1,722 level and the 50 hourly simple moving average. It traded to a new weekly high at $1,736 on FXOpen and the price is currently consolidating gains.

It tested the 23.6% Fib retracement level of the recent rise from the $1,711 low to $1,736 high. On the downside, there are many supports forming near the $1,727 and $1,725 levels.

Read more about Gold and Crude Oil Analysis on FXOpen blog...

 

[FXOpen]

GBP/USD and EUR/GBP: British Pound Could Continue To Struggle

GBP/USD started a major decline and broke the 1.2180 support zone. As a result, EUR/GBP gained traction and rallied above the 0.8850 resistance area.

GBP/USD Technical Analysis
This past week, the British Pound struggled to clear the 1.2480 and 1.2500 resistance levels against the US Dollar. As a result, the GBP/USD pair started a major decline and broke many supports near 1.2300.

The pair even broke the 1.2200 support zone and settled well below the 50 hourly simple moving average. The decline was such that the pair broke the 1.2120 support and traded as low as 1.2076 on FXOpen.

Read more about GBP/USD and EUR/GBP Analysis on FXOpen blog...

 

[FXOpen]

EUR/USD Recovering Nicely While USD/CHF Is Showing Bearish Signs

EUR/USD is recovering and it recently cleared the key 1.0880 and 1.0900 resistance levels. Conversely, USD/CHF is sliding, but it is approaching a major support near the 0.9690 level.

EUR/USD Technical Analysis
This past week, the Euro formed a strong support above 1.0800 and 1.0820 against the US Dollar. As a result, the EUR/USD pair started a steady rise and broke the 1.0880 resistance zone.

Moreover, there was a break above the 1.0900 resistance and the 50 hourly simple moving average. The pair traded as high as 1.0975 on FXOpen and corrected lower.

The recent low was formed near 1.0918 and the price is currently rising. It is trading above the 1.0925 level and testing the 50% Fib retracement level of the recent decline from the 1.0975 high to 1.0918 low.

Read more about EUR/USD and USD/CHF Analysis on FXOpen blog...

 

[FXOpen]

EUR/USD Turns Green, USD/JPY Stuck In Crucial Range

EUR/USD started a fresh increase above the 1.0900 and 1.0920 resistance levels. USD/JPY is currently trading in a crucial range above the key 107.35 support zone.

EUR/USD Technical Analysis
This week, the Euro started a steady increase from the 1.0870 swing low against the US Dollar. The EUR/USD pair broke the 1.0900 and 1.0920 resistance levels to enter a bullish zone.

Moreover, there was a close above the 1.0950 level and the 50 hourly simple moving average. The pair even climbed above the 1.0980 and traded as high as 1.0995 on FXOpen.

It is currently correcting lower and trading below the 23.6% Fib retracement level of the recent rise from the 1.0870 low to 1.0995 high. On the downside, there is a decent support forming near the 1.0950 level.

Read more about EUR/USD and USD/JPY Analysis on FXOpen blog...

 

[FXOpen]

Gold Price And Crude Oil Price Facing Key Hurdles

Gold price remained in a strong uptrend and traded above the $1,750 level before correcting lower. Similarly, crude oil price started a strong increase and climbed above $30.00.

Gold Price Technical Analysis
Gold price remained in a bullish zone above the $1,700 resistance zone against the US Dollar. There was a clear break above the $1,725 and $1,750 resistance levels.

The price traded to a new yearly high at $1.764 on FXOpen and settled well above the 50-day simple moving average. Recently, there was a downside correction from the $1,764 high.

The bears pushed the price below the $1,750 level. It even broke the 50% Fib retracement level of the upward move from the $1,669 low to $1,764 high. However, the decline was protected by the $1,690 level.

Read more about Gold and Crude Oil Analysis on FXOpen blog...

 

[FXOpen]

GBP/USD and EUR/GBP: British Pound Could Rise Further

GBP/USD started a strong increase above the 1.2300 resistance zone and it could rise further. EUR/GBP is likely to dip further before it attempts a fresh upward move.

GBP/USD Technical Analysis
In the past few days, there was a decent increase in the British Pound from the 1.2220 support against the US Dollar. As a result, the GBP/USD pair climbed higher and broke many hurdles near the 1.2300 zone.

The pair even settled above the 1.2350 level and the 50 hourly simple moving average. Finally, the pair spiked above the 1.2400 zone and a new intraday high is formed near the 1.2419 level on FXOpen.

It is currently correcting lower and trading near the 23.6% Fib retracement level of the recent rise from the 1.2291 low to 1.2419 high. On the downside, the first major support is near the 1.2360 and 1.2355 levels.

Read more about GBP/USD and EUR/GBP Analysis on FXOpen blog...

 

[FXOpen]

EUR/USD and EUR/JPY Signaling Bullish Continuation

EUR/USD is rising steadily and trading nicely above the 1.1180 level. EUR/JPY is also gaining bullish momentum and it is likely to continue higher above 121.80.

EUR/USD Technical Analysis
After forming a strong support above 1.0900, the Euro started a strong increase against the US Dollar. The EUR/USD pair broke many hurdles near 1.1100 to move into a positive zone.

There was a close above the 1.1120 level and the 50 hourly simple moving average. The pair recently tested the 1.1200 zone and traded as high as 1.1201 on FXOpen. The current price action is positive and dips remain supported near 1.1180.

The 23.6% Fib retracement level of the recent rally from the 1.1115 low to 1.1201 high is also near the 1.1180 level to act as a support. There is also a major bullish trend line forming with support near 1.1140 on the hourly chart of EUR/USD.

Read more about EUR/USD and EUR/JPY Analysis on FXOpen blog...

 

[FXOpen]

AUD/USD And NZD/USD Could Extend Rally

AUD/USD is gaining traction and it is trading nicely above the 0.6900 level. Similarly, NZD/USD is rising and it might soon surge above the 0.6500 resistance zone.

AUD/USD Technical Analysis
The Aussie Dollar formed a strong support above 0.6600 and started a fresh increase against the US Dollar. The AUD/USD pair broke many hurdles near 0.6750 to move into a positive zone.

The upward move was such that the pair settled nicely above the 0.6800 level and the 50 hourly simple moving average. It even traded towards the 0.7000 level and formed a new monthly high at 0.6987 on FXOpen.

Recently, there was a short-term downside correction from the 0.6987 high. There was a break below the 23.6% Fib retracement level of the upward move from the 0.6882 low to 0.6987 high.

Read more about AUD/USD and NZD/USD Analysis on FXOpen blog...

 

[elebibi]

The Euro and British Pound traded higher this week against the Japanese Yen. Both EUR/JPY and GBP/JPY are correcting lower, but dips remain well supported.

 

[FXOpen]

GBP/USD and GBP/JPY: British Pound Accelerating Higher

GBP/USD rallied recently and broke the 1.2650 resistance zone. GBP/JPY is also rising and it is trading well above the 138.00 pivot and support zone.

GBP/USD Technical Analysis
This past week, the British Pound started a major upward move above the 1.2500 barrier against the US Dollar. The GBP/USD pair broke many hurdles near 1.2600 to move into a bullish zone.

There was also a close above the 1.2700 level and the 50 hourly simple moving average. The pair traded to a new monthly high at 1.2732 on FXOpen and it is currently consolidating gains.

It tested the 23.6% Fib retracement level of the upward move from the 1.2500 low to 1.2732 high. An immediate support on the downside is near the 1.2700 level. There is also a key bullish trend line forming with support near 1.2700 on the hourly chart of GBP/USD.

Read more about GBP/USD and GBP/JPY Analysis on FXOpen blog...

 

[FXOpen]

EUR/USD Could Accelerate Higher While USD/CHF Turns Red

EUR/USD is gaining traction and it is trading above the 1.1280 and 1.1300 resistance levels. Conversely, USD/CHF is trading in a bearish zone and it could face sellers near 0.9550.

EUR/USD Technical Analysis
This past week, the Euro started a decent upward move from the 1.1150 support against the US Dollar. The EUR/USD pair broke many hurdles near 1.1250 to move into a positive zone.

Moreover, there was a close above the 1.1300 resistance and the 50 hourly simple moving average. The last swing low was formed near 1.1240 on FXOpen and the recent high was near 1.1363.

During the rise, there was a break above a key triangle resistance at 1.1305 on the hourly chart of EUR/USD. The pair is currently consolidating gains and trading above the 1.1320 level.

It tested the 23.6% Fib retracement level of the recent upward move from the 1.1240 low to 1.1363 high. The first major support is seen near the 1.1300 level or near the broken triangle resistance.

Read more about EUR/USD and USD/CHF Analysis on FXOpen blog...

 

[FXOpen]

Gold Price And Crude Oil Price Could Extend Losses

Gold price struggled to continue higher above $1,745 and it is currently declining. Similarly, crude oil price is facing an increase in selling pressure below the $36.50 support.

Gold Price Technical Analysis
Gold price struggled to gain strength above the $1,745 level and started a fresh decline against the US Dollar. The price traded as high as $1,744 on FXOpen and recently declined below the $1,735 support level.

There was a break below the $1,730 support and the 50 hourly simple moving average. Besides, the price traded below the 50% Fib retracement level of the upward move from the $1,708 low to $1,744 high.

More importantly, there was a break below a key bullish trend line with support near $1,726 on the hourly chart of gold. The price is now testing the $1,724 and $1,722 support levels.

Read more about Gold and Crude Oil Analysis on FXOpen blog...

 

[FXOpen]

GBP/USD and EUR/GBP: British Pound Signaling More Losses

GBP/USD started a sharp downside correction after it rallied towards 1.2820. EUR/GBP is rising steadily and it might clear the 0.9000 resistance zone in the near term.

GBP/USD Technical Analysis
This past week, there was a strong increase in the British Pound above the 1.2600 resistance against the US Dollar. The GBP/USD pair even broke the 1.2750 resistance zone, but it struggled to continue higher.

The pair spiked above the 1.2800 level and formed a new monthly high at 1.2813 on FXOpen. Recently, it started a sharp downside correction and traded below the 1.2750 support.

There was a clear break below the 1.2680 support level and the 50 hourly simple moving average. During the decline, there was a break below a connecting bullish trend line with support at 1.2715 on the hourly chart of GBP/USD.

Read more about GBP/USD and EUR/GBP Analysis on FXOpen blog...

 

[FXOpen]

EUR/USD and USD/JPY Remain At Risk of More Losses

EUR/USD failed to stay above 1.1320 and started a downward move towards 1.1200. USD/JPY is currently trading in a bearish zone below the 107.80 and 108.00 resistance levels.

EUR/USD Technical Analysis
This week, the Euro gained traction above the 1.1320 resistance zone against the US Dollar. The EUR/USD pair even broke the 1.1380 resistance and spiked above the 1.1400 level.

However, it failed to stay in a positive zone and recently started a sharp decline below 1.1350. There was a break below the 1.1320 support level and the pair settled below the 50 hourly simple moving average.

The recent low was formed near 1.1228 on FXOpen and the pair is currently correcting higher. It broke the 23.6% Fib retracement level of the recent decline from the 1.1353 high to 1.1228 low.

Read more about EUR/USD and USD/JPY Analysis on FXOpen blog...

 

[FXOpen]

EUR/JPY and GBP/JPY Remains At Risk of More Downsides

The Euro and British Pound started a steady decline in the past few days against the Japanese Yen. Both EUR/JPY and GBP/JPY are likely to face hurdles and remain at a risk of more losses.

EUR/JPY Technical Analysis
After facing hurdles near the 122.40 and 122.50 levels, the Euro started a steady decline against the Japanese Yen. The EUR/JPY pair broke many major supports near 121.00 and 120.80 to enter a bearish zone.

Besides, there was a close below the 120.50 level and the 50 hourly simple moving average. It traded to a new monthly low at 119.58 on FXOpen and it is currently consolidating losses.

On the upside, an initial resistance is near the 119.95 and 120.50 levels. There is also a major bearish trend line forming with resistance near 119.95 on the hourly chart of EUR/JPY.

Read more about EUR/JPY and GBP/JPY Analysis on FXOpen blog...