Forex Technical Analysis by FXOpen

[FXOpen]

EUR/USD declining while USD/JPY gathering momentum

EUR/USD started a strong downward move from well above the 1.1250 level. USD/JPY is currently moving higher and it could continue to rise towards the 110.80 level.

EUR/USD Technical Analysis

The Euro started a strong downward move after it failed to gain pace above 1.1260 against the US Dollar. The EUR/USD pair declined heavily and broke many supports such as 1.1240, 1.1220 and 1.1200.

The pair even broke the 1.1180 support level and the 50 hourly simple moving average. It traded as low as 1.1141 on FXOpen and started an upside correction. It moved above the 1.1160 level and the 23.6% Fib retracement level of the recent decline from the 1.1223 high to 1.1141 low.

Continue reading EUR/USD and USD/JPY technical analysis and important takeaways...

 

[FXOpen]

EUR/JPY and GBP/JPY: Downtrend Remains Intact

The Euro and British Pound started a strong decline against the Japanese Yen. EUR/JPY is facing resistance near 122.65 and GBP/JPY could struggle to clear 139.20.

EUR/JPY Technical Analysis
After trading as high as 123.73, the Euro started a major decline against the Japanese Yen. The EUR/JPY pair broke many important supports such as 123.50, 123.20 and 122.65 to move into a bearish zone.

The pair even settled below the 122.65 support and the 50 hourly simple moving average. A new weekly low was formed at 122.14 on FXOpen and the pair recently started an upside correction.

Continue reading EUR/JPY and GBP/JPY technical analysis and important takeaways...

 

[FXOpen]

GBP/USD and USD/CAD Signaling More Upsides

GBP/USD is slowly recovering and it is currently trading above 1.2680. USD/CAD is likely to resume its upward move above the 1.3550 and 1.3580 resistance levels.


GBP/USD Technical Analysis
The British Pound declined heavily this past week and broke the key 1.2820 support area against the US Dollar. The GBP/USD pair extended losses below the 1.2750 and 1.2700 support levels.

The pair even broke the 1.2650 support level and the 50 hourly simple moving average. It traded close to the 1.2600 support area and formed a swing low at 1.2605 on FXOpen.

Continue reading GBP/USD and USD/CAD technical analysis and important takeaways...

 

[FXOpen]

EUR/USD Under Pressure, and USD/CHF Approaching Key Support

EUR/USD struggled to stay above the 1.1200 level and recently declined below 1.1185. USD/CHF is currently correcting lower, but it seems to be approaching a key support near 1.0050.

EUR/USD Technical Analysis

The Euro started a strong rise from the 1.1107 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1155 and 1.1200 resistance levels. However, the bulls failed to keep the pair above the 1.1200 level.

A swing high was formed at 1.1215 on FXOpen and the pair recently started a downside correction. It broke the 1.1200 and 1.1185 support levels to enter a short term bearish zone.

Continue reading EUR/USD and USD/CHF technical analysis and important takeaways...

 

[FXOpen]

Gold Price Climbing While Crude Oil Price Is Declining

Gold price started a decent upward move after forming a support base near $1,274. Crude oil price declined heavily and it remains at a risk of more losses below $55.00

Gold Price Technical Analysis

Gold price found support near the $1,270 level and recently started an upward move against the US Dollar. The price settled above the $1,274 pivot level and extended gains above the $1,280 level.

The recent rise was positive above the $1,285 and $1,290 resistance levels. Moreover, there was a close above the $1,285 level and the 50 hourly simple moving average.

Continue reading Gold and Oil technical analysis and important takeaways...

 

[FXOpen]

GBP/USD and USD/CAD: US Dollar Showing Signs Of Weakness

GBP/USD gained pace this past week and recovered above the 1.2700 resistance. USD/CAD declined steadily below 1.3300, signaling short term US Dollar weakness.

GBP/USD Technical Analysis
The British Pound found support near 1.2550 and 1.2560 against the US Dollar, and started a fresh recovery this past week. The GBP/USD pair traded above the 1.2600 and 1.2650 resistance levels to move into a positive zone.

The pair even broke the 1.2700 resistance and the 50 hourly simple moving average. The bulls gained momentum above 1.2720 and a new swing high was formed near 1.2762 on FXOpen.

Continue reading GBP/USD and USD/CAD technical analysis and important takeaways.

 

[FXOpen]

EUR/USD gaining momentum while USD/CHF is recovering

EUR/USD formed support near 1.1215 and climbed steadily in the past few days. USD/CHF is currently recovering from the 0.9859 swing low and it could correct further higher.

EUR/USD Technical Analysis

The Euro started a strong upward move from the 1.1150 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1180 and 1.1200 resistance levels. The pair even surged above the 1.1250 resistance area.

The recent gains were positive, with a close above the 1.1300 level and the 50 hourly simple moving average. During the rise, there was a break above a couple of bullish patterns near 1.1255 and 1.1310 on the hourly chart of EUR/USD.

Continue reading EUR/USD and USD/CHF Technical Analysis and Important Takeaways...

 

[FXOpen]

Gold Price and Crude Oil Price Rally Significantly

Gold price rallied sharply and broke the $1,350 and $1,400 resistance levels. Similarly, crude oil price gained bullish momentum and broke the $55.00 resistance area.

Gold Price Technical Analysis

Gold price formed a solid support base above $1,350 and recently rallied above $1,380 against the US Dollar. The price gained bullish momentum above $1,390 after the Fed indicated possibilities of a rate cut in the near future.

The recent upward move was strong since the price even broke the $1,400 resistance area and settled above the 50 hourly simple moving average. It climbed towards the $1,415 level and a new monthly high was formed near $1,411 on FXOpen.

Read more about Gold and Crude Oil technical analysis and its important takeaways

 

[FXOpen]

GBP/USD And USD/CAD: US Dollar Could Slide Further

GBP/USD started a fresh increase and traded above the 1.2700 resistance area. Conversely, USD/CAD declined heavily and broke the 1.3200 support area to enter a bearish zone.

GBP/USD Technical Analysis

The British Pound found support near 1.2500 and 1.2510 against the US Dollar, and recently started a fresh increase this past week. The GBP/USD pair broke the 1.2550 and 1.2600 resistance levels to move into a positive zone.

The recent upward move was positive since there was a close above the 1.2650 level and the 50 hourly simple moving average. The pair even broke the 1.2700 level and recently traded close to the 1.2750 level on FXOpen.

Read more about USD/CAD and GBP/USD technical analysis and its important takeaways...

 

[FXOpen]

EUR/USD Correcting Lower While USD/CHF Is Recovering

EUR/USD gained momentum and traded towards the 1.1410 level before correcting lower. USD/CHF declined close to the 0.9690 level and it is currently recovering.

EUR/USD Technical Analysis

The Euro started a steady rise after forming a support base near the 1.1190 level against the US Dollar. The EUR/USD pair climbed above the 1.1240 and 1.1280 resistance levels. The pair even gained momentum above the 1.1350 resistance area.

Finally, the pair surged above the 1.1380 level and the 50 hourly simple moving average. It traded to a new monthly high at 1.1412 on FXOpen and recently started a downside correction.

Read EUR/USD and USD/CHF technical analysis and its important takeaways on FXOpen blog...

 

[FXOpen]

GBP/USD and EUR/GBP: British Pound Could Gain Traction

GBP/USD settled above the key 1.2650 and 1.2660 support levels, with a positive bias. EUR/GBP started a major downside correction and broke a major support near 0.8960.

GBP/USD Technical Analysis

The British Pound started a decent upward move after it broke the 1.2600 resistance area against the US Dollar. As a result, the GBP/USD pair gained momentum above the 1.2620 and 1.2640 levels.

Moreover, there was a close above the key 1.2660 pivot level and the 50 hourly simple moving average. It traded towards the 1.2780 level on FXOpen and recently started a downside correction.

Read GBP/USD and EUR/GBP Technical Analysis and its Important Takeaways...

 

[FXOpen]

Gold price and Crude Oil price could extend declines

Gold price climbed higher once again, but it failed to surpass the $1,437 resistance area. Crude oil price is currently correcting higher, but it is facing a lot of hurdles on the upside.

Gold Price Technical Analysis
Gold price gained traction this week and climbed above the $1,410 and $1,420 resistance levels against the US Dollar. The price even broke the $1,430 resistance level, but it struggled to climb further higher.

A swing high was formed near $1,437 on FXOpen and the price recently started a downside correction. It broke the $1,425 and $1,420 support levels. It tested the $1,410 level and it is currently recovering higher.

Read Gold and Oil technical analysis and its important takeaways on FXOpen blog...

 

[FXOpen]

GBP/USD and USD/CAD Showing Signs Of Weakness

GBP/USD started a major decline after it failed to surpass the 1.2750 resistance area. USD/CAD is also trading in a bearish zone and it could struggled to climb above 1.3120.

GBP/USD Technical Analysis

The British Pound failed to extend gains above 1.2740 this past week against the US Dollar. As a result, the GBP/USD pair started a major decline and broke the 1.2680 and 1.2640 support levels to move into a bearish zone.

The recent decline gained pace below the 1.2600 level and the 50 hourly simple moving average. The pair even broke the 1.2500 level and recently traded close to the 1.2480 level on FXOpen.

Read on FXOpen blog GBP/USD and USD/CAD Technical analysis and its Important Takeaways.

 

[FXOpen]

EUR/USD bleeding while USD/CHF is climbing to parity

EUR/USD started a major decline and broke the key 1.1280 and 1.1220 support levels. Conversely, USD/CHF climbed higher and it seems like it could soon test 1.0000.

EUR/USD Technical Analysis

The Euro failed to stay above the 1.1350 level and later struggled to clear the 1.1310 resistance against the US Dollar. The EUR/USD pair started a major decline and broke the 1.1320 and 1.1280 support levels to enter a bearish zone.

During the decline, the pair even broke the 1.1250 pivot level. Finally, there was a close below the 1.1220 level and the 50 hourly simple moving average. The pair traded as low as 1.1193 on FXOpen and it is currently consolidating losses.

Find EUR/USD and USD/CHF Technical Analysis and its Important Takeaways on FXOpen blog.

 

[FXOpen]

AUD/USD and NZD/USD Signaling Upside Continuation

AUD/USD found support above the 0.6900 level and recently climbed above 0.6950. Similarly, there were decent gains in NZD/USD above the 0.6600 and 0.6640 resistance levels.

AUD/USD Technical Analysis

In the past few days, the Aussie Dollar declined steadily below 0.7000 against the US Dollar. The AUD/USD pair broke the 0.6950 support level before it found support above the 0.6900 level.

A swing low was formed near 0.6910 on FXOpen and the pair recently started a decent recovery. It broke the 0.6920 and 0.6925 resistance levels to start the recent recovery. Later, there was a close above the 0.6950 resistance and the 50 hourly simple moving average.

Read AUD/USD and NZD/USD Technical Analysis and its Important Takeaways on FXOpen blog.

 

[FXOpen]

GBP/USD and EUR/GBP: British Pound remains supported

GBP/USD gained traction and climbed above the 1.2500 and 1.2550 resistance levels. EUR/GBP declined below 0.8980 and it seems like it could continue to correct lower.

GBP/USD Technical Analysis
The British Pound formed a strong support base near the 1.2450 this past week against the US Dollar. As a result, the GBP/USD pair started a decent upward move and broke the key 1.2500 resistance level.

It gained traction above the 1.2520 pivot level and settled above the 50 hourly simple moving average. Finally, there was a break above the 1.2550 level and the pair traded close to the 1.2580 level.

Find GBP/USD and EUR/GBP Technical Analysis and its Important Takeaways on FXOpen blog...

 

[FXOpen]

EUR/USD and USD/JPY Facing Major Hurdles

EUR/USD started a major drop from the 1.1285 resistance zone. USD/JPY is currently trading above 108.00 and it is facing a lot of hurdles near the 108.30 and 108.50 levels.

EUR/USD Technical Analysis

The Euro failed to continue above the 1.1285 level and formed a double top against the US Dollar. The EUR/USD pair formed a swing high near the 1.1283 and recently started a significant decline.

The pair came under a lot of pressure below 1.1250 and the 50 hourly simple moving average. There was a break below a major bullish trend line with support near 1.1250 on the hourly chart of EUR/USD.

Read EUR/USD and USD/JPY Technical Analysis and its Important Takeaways on FXOpen blog...

 

[FXOpen]

Gold price rising while Crude Oil price struggling to recover

Gold price remained in a positive zone and traded above the $1,420 and $1,430 resistance levels. Crude oil price declined recently and tested the key $55.00 support area.

Gold Price Technical Analysis

Gold price formed a strong support above the $1,400 level and consolidated for a few sessions against the US Dollar. Finally, the price started a fresh increase and broke the $1,410 and $1,420 resistance levels.

The upward move was strong as the price even broke the key $1,430 resistance area and settled above the 50 hourly simple moving average. Finally, there was break above the $1,445 and $1,450 resistance levels.

Find Gold and Oil price Technical Analysis and its Important Takeaways on FXOpen blog...

 

[FXOpen]

GBP/USD and USD/CAD Showing Positive Signs

GBP/USD traded higher and recently broke the 1.2500 resistance level. USD/CAD is consolidating in a broad range and it seems like it could rise in the coming sessions.

GBP/USD Technical Analysis

The British Pound declined heavily this past week and even broke the 1.2450 support area against the US Dollar. The GBP/USD pair even broke the 1.2400 support level and traded as low as 1.2381 on FXOpen.

Later, the pair started a strong recovery above the 1.2400 and 1.2450 resistance levels. The bulls even pushed the pair above the 1.2500 resistance and 50 hourly simple moving average.

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

 

[FXOpen]

EUR/USD Tumbles While USD/CHF Is Rising Steadily

EUR/USD declined below the key 1.1205 support area to move into a significant downtrend. Conversely, USD/CHF is climbing higher steadily and recently broke the 0.9850 resistance area.

EUR/USD Technical Analysis

The Euro topped above the 1.1270 level and later started a major decline against the US Dollar. The EUR/USD pair broke many important support levels near the 1.1240 and 1.1220 levels to enter a bearish zone.

More importantly, the price broke the key 1.1200 support zone and declined heavily. Moreover, there was a close below the 1.1200 level and the 50 hourly simple moving average. The pair traded as low as 1.1143 on FXOpen and it is currently consolidating losses.

Read more on FXOpen blog...