Forex Technical Analysis by FXOpen

[FXOpen]

GBP/USD Near Crucial Juncture, USD/CAD Is Diving

GBP/USD started a fresh increase above 1.2820, but it is facing a strong resistance near 1.2980 and 1.3000. USD/CAD is currently declining and trading well below 1.3320.

GBP/USD Technical Analysis
In the past few days, the British Pound started a steady increase from the 1.2700 support zone against the US Dollar. The GBP/USD pair broke many hurdles near 1.2820 to move into a positive zone.

There was also a close above the 1.2900 level and the 50 hourly simple moving average. However, the pair is now facing a strong resistance near the 1.2980 and 1.3000 levels. The recent low was formed near 1.2837 on FXOpen, and the pair is currently moving higher.

There was a break above the 1.2920 resistance level. The pair surpassed the 50% Fib retracement level of the downward move from the 1.2978 high to 1.2837 low.


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

 

[FXOpen]

Gold Price And Oil Price Signaling More Upsides

Gold price started a fresh increase from the $1,870 support and climbed above $1,900. Crude oil price is currently rising and trading well above the $40.00 pivot level.

Gold Price Technical Analysis
Gold price remained well bid above the $1,870 support level and started a fresh increase against the US Dollar. The price broke the $1,885 and $1,890 resistance levels to move into a positive zone.

There was a proper close above the $1,900 resistance level and the 50 hourly simple moving average. During the rise, there was a break above a key rising channel with resistance near $1,902 on the hourly chart of gold.

Besides, the price surpassed the 50% Fib retracement level of the key decline from the $1,920 high (formed on FXOpen) to $1,872 low. The bulls are clearly in control above $1,905, with positive signs.

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

 

[FXOpen]

GBP/USD And GBP/JPY: British Pound Signaling More Upsides

GBP/USD started a strong increase after it broke the 1.2950 and 1.3000 resistance levels. GBP/JPY is trading nicely above 137.00 and it might continue to climb higher.

GBP/USD Technical Analysis
This past week, the British Pound struggled on many occasions near the 1.2980 and 1.3000 resistance levels against the US Dollar. Finally, the GBP/USD pair gained momentum and was able to clear the main 1.3000 resistance level.

The pair formed a strong support base above the 1.2920 level and it climbed higher nicely above the 50 hourly simple moving average. There was a successful close above the 1.3000 level and the pair traded to a new weekly high at 1.3049 on FXOpen.

The pair is currently consolidating gains above the 1.3020 support. It is also trading above the 23.6% Fib retracement level of the upward move from the 1.2922 low to 1.3049 high.

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

 

[FXOpen]

EUR/USD Could Correct Higher, USD/JPY Is Facing Hurdles

EUR/USD declined recently below the 1.1780 support, but it found support near 1.1730. USD/JPY is showing bearish signs below the key 105.50 resistance level.

EUR/USD Technical Analysis
This past week, the Euro climbed above the 1.1800 and 1.1820 levels against the US Dollar. However, the EUR/USD pair struggled to gain momentum and formed a short-term top near the 1.1830 level.

As a result, there was a downward move below the 1.1800 support level. The pair broke the 1.1780 support level and the 50 hourly simple moving average. Moreover, there was a break below a key bullish trend line with support near 1.1765 on the hourly chart of EUR/USD.

The pair even broke the 1.1750 support and traded as low as 1.1730 on FXOpen. It is currently consolidating losses above the 1.1730 low. An initial resistance on the upside is near the 1.1750 level.

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

 

[FXOpen]

AUD/USD And NZD/USD Signaling More Downsides

AUD/USD started a fresh decline from the 0.7250 resistance and broke the 0.7120 support. NZD/USD is also declining and it is showing bearish signs below 0.6600.

AUD/USD Technical Analysis
This past week, the Aussie Dollar remained in a positive zone above 0.7200 against the US Dollar. However, the AUD/USD pair failed to clear the 0.7250 resistance zone.

As a result, there was a bearish reaction and the pair started a fresh decline below the 0.7200 support level. There was a steady decline below the 0.7150 support level. The pair even broke the 0.7120 support and settled below the 50 hourly simple moving average.

A low is formed near 0.7056 on FXOpen recently and it is currently correcting higher. There was a break above the 0.7080 level, but it struggled to gain momentum above the 23.6% Fib retracement level of the recent decline from the 0.7190 high to 0.7056 low.

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

 

[FXOpen]

GBP/USD And EUR/GBP: Risk Of More Downsides

GBP/USD started a fresh decline below the 1.3020 and 1.2980 support levels. EUR/GBP is also declining and it is trading well below the 0.9120 resistance zone.

GBP/USD Technical Analysis
The British Pound failed to test the 1.3100 level and started a fresh decline against the US Dollar. The GBP/USD pair broke a major support zone near the 1.2980 level to move into a bearish zone.

The pair even broke the 1.2950 support level and settled below the 50 hourly simple moving average. The decline extended below the 1.2900 zone and it traded as low as 1.2870 on FXOpen.

The pair is currently correcting higher and trading above 1.2900. There was a break above the 23.6% Fib retracement level of the recent drop from the 1.3064 high to 1.2870 low. However, the pair is now facing hurdles near the 1.2940 level and the 50 hourly simple moving average.

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

 

[FXOpen]

EUR/USD And EUR/JPY: Euro Gaining Momentum

EUR/USD started a fresh increase above the 1.1800 and 1.1820 resistance levels. EUR/JPY is also showing positive signs and trading nicely above the 124.50 support zone.

EUR/USD Technical Analysis
After a steady decline, the Euro found support near the 1.1685 and 1.1700 levels against the US Dollar. A low was formed near 1.1688 on FXOpen and recently, the EUR/USD pair started a fresh increase.

It broke many important hurdles near the 1.1720 and 1.1750 levels to move into a positive zone. Moreover, there was a break above a major bearish trend line with resistance near 1.1750 on the hourly chart of EUR/USD.

The pair surged above the 1.1800 resistance and settled well above the 50 hourly simple moving average. During the rise, the pair surpassed the 76.4% Fib retracement level of the main decline from the 1.1830 high to 1.1688 low.

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

 

[FXOpen]

GBP/USD And GBP/JPY: British Pound Facing Key Hurdles

GBP/USD started a fresh decline after it failed to clear the 1.3175 resistance zone. GBP/JPY is also declining and it is showing bearish signs below the 137.00 level.

GBP/USD Technical Analysis
This past week, the British Pound gained momentum above the 1.3000 resistance against the US Dollar. The GBP/USD pair broke the 1.3100 and 1.3120 resistance levels.

However, it struggled to gain momentum above the 1.3175 resistance level. A high was formed near 1.3177 on FXOpen and it started a fresh decline. There was a break below the 1.3100 support level and the 50 hourly simple moving average.

The decline was such that the pair even broke the 50% Fib retracement level of the upward move from the 1.2911 swing low to 1.3177 high. It is now testing the 1.3020 support level.

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

 

[FXOpen]

EUR/USD Declining While USD/CHF Could Gain Momentum

EUR/USD struggled to clear the 1.1880 resistance and decline below 1.1820. USD/CHF is showing positive signs and it could gain momentum above 0.9100.

EUR/USD Technical Analysis
After a rejection near the 1.1880 zone, the Euro reacted to the downside against the US Dollar. The EUR/USD pair broke the 1.1850 and 1.1840 support levels to move into a bearish zone.

The pair even broke the 1.1820 support and settled below the 50 hourly simple moving average. More importantly, there was a break below a major contracting triangle with support near 1.1810 on the hourly chart of EUR/USD.

The pair is now trading below the 1.1800 level and formed a low at 1.1770 on on FXOpen. If there is an upside correction, the 1.1795 level might act as a resistance. The next resistance is near 1.1800 or the 50% Fib retracement level of the recent decline from the 1.1838 high to 1.1770 low.

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

 

[FXOpen]

AUD/USD And NZD/USD Facing Key Hurdles

AUD/USD started a decent recovery from the 0.7000 support, but it is facing hurdles. NZD/USD is also correcting higher, but it must clear 0.6650 for more gains.

AUD/USD Technical Analysis
In the past few sessions, the Aussie Dollar declined and traded below the 0.7120 support against the US Dollar. The AUD/USD pair broke many supports near 0.7050 to move further into a bearish zone.

It traded as low as 0.7002 FXOpen recently and it is currently correcting higher. There was a break above the 0.7020 resistance level, plus it traded above the 50% Fib retracement level of the recent decline from the 0.7076 high to 0.7002 low.

There was a break above a short-term bearish trend line with resistance near 0.7040 on the hourly chart of AUD/USD. The pair is now trading above the 0.7040 zone.

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

 

[FXOpen]

GBP/USD Diving, While USD/CAD Is Gaining Bullish Momentum

GBP/USD started a fresh decline from well above the 1.3150 pivot level and declined below 1.3000. USD/CAD is showing positive signs and likely to rally above 1.3350.

GBP/USD Technical Analysis
This past week, the British Pound started a fresh decline from well above the 1.3180 zone against the US Dollar. The GBP/USD pair broke the 1.3120 and 1.3050 support levels to move into a bearish zone.

The pair even broke the 1.3000 support and settled below the 50 hourly simple moving average. Finally, there was a spike below the 1.2900 support and a low was formed near the 1.2880 level.

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

 

[FXOpen]

Gold Price And Oil Price Could Correct Recent Gains

Gold price started a fresh increase and surged towards the $1,950 resistance. Crude oil price also gained pace and it is currently correcting lower from $39.50.

Gold Price Technical Analysis
Gold price started a strong increase from the $1,880 support zone against the US Dollar. The price broke the $1,895 and $1,900 resistance levels to move into a positive zone.

More importantly, there was a break above a major contracting triangle with resistance near $1,910 on the hourly chart of gold. It opened the doors for a sharp rise and the price rallied above $1,920.

There was also a close above $1,925 and the 50 hourly simple moving average. It even tested the $1,950 resistance and high is formed near $1,952 on FXOpen. The price is currently correcting gains and trading below $1,945.

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

 

[FXOpen]

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• Maintaining high level of communication skills and using various techniques to ensure personal approach to each customer

If you meet these requirements and want to join our team please send your CV to [email protected]

 

[FXOpen]

GBP/USD Risking Steadily, EUR/GBP Remains At Risk

GBP/USD started a fresh increase and it broke the 1.3150 resistance zone. EUR/GBP is struggling and it could decline sharply if it breaks the 0.9010 support zone.

GBP/USD Technical Analysis
The British Pound retested the 1.2900 region before it started a fresh increase against the US Dollar. The GBP/USD pair broke the main 1.3000 resistance level to move back into a positive zone.

The upward move gained pace above the 1.3050 resistance and the 50 hourly simple moving average. There was also a break above the 1.3150 resistance and the pair traded as high as 1.3193 on FXOpen.

It is currently consolidating gains below the key 1.3200 resistance. An initial support is near the 1.3165 and the 23.6% Fib retracement level of the recent wave from the 1.3076 low to 1.3193 high. It seems like there is a key contracting triangle forming with support near 1.3145 on the hourly chart of GBP/USD.

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

 

[FXOpen]

EUR/USD And EUR/JPY: Euro Approaching Next Key Break

EUR/USD struggled to clear the 1.1900 resistance and corrected lower. EUR/JPY is showing positive signs and it could rise again if it clears the 124.50 resistance.

EUR/USD Technical Analysis
This past week, the Euro started a decent upward move from the 1.1640 support zone against the US Dollar. The EUR/USD pair climbed higher above the 1.1750 resistance and it even surpassed the 1.1820 barrier.

There was also a break above the 1.1880 resistance, but the pair struggled to stay above the 1.1900 level. A high was formed near 1.1919 on FXOpen before there was a downside correction.

The pair traded below the 1.1850 support level and the 50 hourly simple moving average. During the rise, there was a break below a key bullish trend line with support near 1.1865 on the hourly chart of EUR/USD.

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

 

[FXOpen]

GBP/USD And GBP/JPY: British Pound Eyeing Further Upsides

GBP/USD started a fresh increase above the 1.3150 resistance zone. GBP/JPY is also showing positive signs and it could rise sharply if there is a clear break above 138.50.

GBP/USD Technical Analysis
This past week, the British Pound gained momentum above the 1.3200 resistance against the US Dollar. The GBP/USD pair even broke the 1.3280 resistance, but it struggled to retain momentum above the 1.3300 level.

A high was formed near 1.3310 on FXOpen before the price started a downside correction. There was a break below the 1.3200 support zone and the 50 hourly simple moving average.

However, the bulls were able to protect the 1.3100 support zone. A low is formed near 1.3160 and the price is currently rising. There was a break above the 1.3150 and 1.3160 resistance levels. The pair even climbed above the 50% Fib retracement level of the downward move from the 1.3310 high to 1.3106 swing low.

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

 

[FXOpen]

GBP/USD And USD/CAD Eyeing Key Upside Break

GBP/USD started a fresh increase and it broke the 1.3250 resistance. USD/CAD is recovering and it is eyeing an upside break above 1.3100.

GBP/USD Technical Analysis
This past week, the British Pound started a fresh increase from the 1.3120 support level against the US Dollar. The GBP/USD pair broke the 1.3150 and 1.3200 resistance levels to move into a positive zone.

The pair even broke the 1.3250 resistance and settled above the 50 hourly simple moving average. Finally, there was a spike above the 1.3300 resistance, but the pair struggled to gain strength.

There were more than two attempts to clear the 1.3300 barrier, but the pair failed. A swing high was formed near 1.3296 on FXOpen and the pair is currently consolidating gains. An initial support on the downside is near the 1.3260 level or the 50 hourly simple moving average.

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

 

[FXOpen]

Gold Price Consolidates Losses While Oil Price Gains Traction

Gold price declined heavily below $1,850 and tested the $1,800 support zone. Conversely, crude oil price gained bullish momentum above $42.00 and it even traded to a new multi-month high.

Gold Price Technical Analysis
Gold price started a fresh decline after trading as high as $1,879 against the US Dollar. The price broke the $1,850 and $1,835 support levels to move into a bearish zone.

The price even broke the $1,825 support level and settled well below the 50 hourly simple moving average. It traded as low as $1,850 on FXOpen and recently started consolidating losses.

There was no major upward move and the price remained well below the 23.6% Fib retracement level of the recent drop from the $1,879 swing high to $1,800 low. Moreover, there is a key contracting triangle forming with resistance near $1,812 on the hourly chart of gold.

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

 

[FXOpen]

EUR/USD And EUR/JPY: Eero Gaining Bullish Momentum

EUR/USD started a strong increase and it surged above the 1.2000 resistance. EUR/JPY is also gaining momentum and it is trading well above the 125.00 resistance.

EUR/USD Technical Analysis
This week, the Euro formed a strong support zone above the 1.1920 and 1.1950 levels against the US Dollar. The EUR/USD pair started a strong increase and it broke the main 1.2000 resistance level.

The pair even gained strength above 1.2020 and settled above the 50 hourly simple moving average. Moreover, there was a break above a key connecting resistance trend line at 1.2030 on the hourly chart of EUR/USD.

The pair even surpassed the 1.2050 resistance and traded as high as 1.2079 recently on FXOpen. It seems like the pair might continue to move higher above the 1.2080 level.

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

 

[FXOpen]

AUD/USD And NZD/USD Signaling Downside Correction

AUD/USD gained momentum above the 0.7400 level before it faced sellers near 0.7445. NZD/USD is also correcting gains and it could test the 0.7020 support.

AUD/USD Technical Analysis
In the past few days, the Aussie Dollar saw a steady increase above the 0.7320 pivot against the US Dollar. The AUD/USD pair even broke the 0.7400 resistance level to move into a positive zone.

During the increase, there was a break above a key contracting triangle with resistance near 0.7385 on the hourly chart of AUD/USD. The upward move gained pace above 0.7400 and the pair settled above the 50 hourly simple moving average.

It traded to a new monthly high at 0.7449 and recently started a downside correction. There was a break below the 0.7430 level. It is testing a key support zone near 0.7425, and the 23.6% Fib retracement level of the recent increase from the 0.7351 swing low to 0.7449 high.

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