Forex Technical Analysis by FXOpen

[FXOpen]

EUR/JPY and GBP/JPY Signaling More Upsides

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.

EUR/JPY Technical Analysis

Earlier this week, the Euro declined steadily below the 121.00 support level against the Japanese Yen. The EUR/JPY pair even traded below the 120.50 support level and traded close to the 120.00 support level.

A swing low was formed near 120.04 on FXOpen and recently the pair jumped sharply higher. It broke the 120.50 resistance level and the 50 hourly simple moving average.

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

 

[FXOpen]

GBP/SD and EUR/GBP: British Pound Turned Bearish

GBP/USD declined heavily below the key 1.2480 and 1.2425 support levels. EUR/GBP is currently climbing higher and it could even climb above the 0.9000 resistance area.

GBP/USD Technical Analysis

The British Pound failed to hold gains above the 1.2500 pivot level and started a steady decline against the US Dollar. The GBP/USD pair broke the key 1.2480 and 1.2450 support levels to enter a bearish zone.

There was a break below the 1.2425 support level and the 50 hourly simple moving average. Moreover, there was a break below a contracting triangle with support near the 1.2445 level on the hourly chart of GBP/USD.

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

 

[FXOpen]

EUR/USD Correcting Losses, USD/JPY Remains In Uptrend

EUR/USD declined heavily and recently started an upside correction from the 1.1110 support area. USD/JPY is trading in a solid uptrend and it could continue to rise above 108.80 and 109.00.

EUR/USD Technical Analysis

The Euro declined heavily in the past few days below the 1.1265 and 1.1210 support levels against the US Dollar. The EUR/USD pair even broke the 1.1180 support level to enter a bearish zone.

Moreover, there was a close below the 1.1180 level and the 50 hourly simple moving average. Finally, the pair traded below the 1.1120 level and a new monthly low was formed near 1.1101 on FXOpen.

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

 

[FXOpen]

Gold price could bounce back while Crude Oil price is facing hurdle

Gold price climbed higher sharply from the $1,400 support area and is currently correcting lower. Conversely, crude oil price is under pressure and is facing hurdles.

Gold Price Technical Analysis

Earlier this week, gold price declined below the $1,420 support against the US Dollar. The price even broke the $1,412 support level and tested the $1,400 support, where the bulls took a stand.

A swing low was formed near $1,400 on FXOpen and the price started a solid upward move. It broke many resistances near the $1,410 level. Moreover, there was a break above a short term declining channel with resistance near $1,408 on the hourly chart of gold.

Read more about Gold and Oil Price on FXOpen blog.

 

[FXOpen]

GBP/USD could recover, USD/CAD remains supported

GBP/USD declined heavily this past week below the 1.2250 support area. USD/CAD is climbing higher and remains well supported above the 1.3200 level.

GBP/USD Technical Analysis
The British Pound started a strong decline from well above the 1.2400 level against the US Dollar. The GBP/USD pair broke the 1.2350 and 1.2250 support levels to enter a bearish zone.

The decline was such that the pair even broke the 1.2200 support level and settled well below the 50 hourly simple moving average. A swing low was formed near the 1.2079 level on FXOpen and the pair is currently correcting higher.

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

 

[FXOpen]

EUR/USD Climbing Higher While USD/CHF Is Facing Hurdles

EUR/USD started a solid recovery from the 1.1040 area and climbed above 1.1150. Conversely, USD/CHF declined heavily and settled below the key 0.9800 support area.

EUR/USD Technical Analysis

This past week, the Euro declined heavily below the 1.1120 and 1.1100 support levels against the US Dollar. The EUR/USD pair tested the 1.1040 support area and recently started a solid recovery.

It broke the 1.1100 and 1.1120 resistance levels. Moreover, there was a break above the 1.1150 resistance and the 50 hourly simple moving average. Finally, the pair traded above the 1.1200 resistance and formed a swing high near 1.1249 on FXOpen.

Read more about EUR/USD and USD/CHF...

 

[FXOpen]

AUD/USD and NZD/USD Sighting Strong Recovery

AUD/USD started a decent recovery from the 0.6677 swing low and traded above 0.6750. Similarly, NZD/USD is now attempting an upside break above the 0.6500 resistance.

AUD/USD Technical Analysis

Earlier this week, there was a strong decline in the Aussie Dollar below the 0.6750 and 0.6700 support levels against the US Dollar. The AUD/USD pair traded as low as 0.6677 and recently started a convincing upside correction.

The pair traded above the 0.6700 and 0.6750 resistance levels on FXOpen to move back in a positive zone. The upward move was positive since there was a close above 0.6750 and the 50 hourly simple moving average.

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[FXOpen]

GBP/USD and EUR/GBP: British Pound Extending Losses

GBP/USD remained in a significant downtrend and declined below the 1.2100 support. EUR/GBP is trading with a bullish bias with a strong support near 0.9250.

GBP/USD Technical Analysis

The British Pound faced a solid rise in selling pressure after it failed to climb above the 1.2320 resistance against the US Dollar. As a result, the GBP/USD pair started a strong decline and broke the key 1.2200 support area.

The recent decline was such that the pair even broke the 1.2100 support level and the 50 hourly simple moving average. Finally, the pair traded below 1.2050 on FXOpen and formed a new multi-month low near 1.2015.

Read more on FXOpen blog...

 

[FXOpen]

EUR/USD Could Decline While USD/JPY Is Climbing

EUR/USD is struggling to gain momentum above the 1.1220 and 1.1240 resistance levels. USD/JPY climbed higher recently and it remains supported on dips above 106.00.

EUR/USD Technical Analysis

The Euro formed a decent support base near the 1.1080 level against the US Dollar. The EUR/USD pair started a solid upward move and climbed above the 1.1180 and 1.1200 resistance levels.

Moreover, there was a break above the 1.1220 level and the 50 hourly simple moving average. Finally, the pair traded close to the 1.1250 resistance on FXOpen, where sellers took a stand.

Read more about EUR/USD and USD/JPY...

 

[FXOpen]

Gold price and Crude Oil price could rise further

Gold price is trading in a strong uptrend above the $1,500 support area. Crude oil price is also likely to gain bullish momentum once it clears the key $55.50 resistance area.

Gold Price Technical Analysis

Earlier this week, gold price surged above the $1,500 and $1,510 resistance levels against the US Dollar. The price even broke the $1,520 resistance level and traded to a new yearly high at $1,535.

Recently, it corrected lower below $1,520 and $1,510. Moreover, there was a break below the $1,500 support and the 50 hourly simple moving average. A swing low was formed near $1,479 on FXOpen and the price started a fresh increase.

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

 

[FXOpen]

GBP/USD and USD/CAD Holding Important Supports

GBP/USD started a decent upside correction from the 1.2020 swing low and climbed above 1.2100. USD/CAD is currently correcting gains, but it is still above the key 1.3250 support area.

GBP/USD Technical Analysis

The British Pound traded close to the 1.2000 support area this month against the US Dollar. The GBP/USD pair formed a swing low near 1.2020 and recently started an upside correction.

The pair recovered above the key 1.2080 and 1.2100 resistance levels. Moreover, there was a close above the 1.2100 level and the 50 hourly simple moving average. Finally, the pair climbed above the 1.2150 level and traded as high as 1.2175 on FXOpen.

Read GBP/USD and USD/CAD technical analysis...

 

[FXOpen]

EUR/USD and USD/JPY Monthly Outlook

EUR/USD declined heavily in July and August 2019 before it found support near 1.0925. USD/JPY is also trading in a bearish zone below the main 107.50 and 108.00 resistance levels on the daily chart.

EUR/USD Technical Analysis

In the past few months, the Euro failed to gain bullish momentum and declined below the 1.1200 support level against the US Dollar. The EUR/USD pair declined heavily and broke the key 1.1150 support area.

Finally, there was a close below 1.1150 and the 50-day simple moving average. The pair declined to a new multi-month low at 1.0925 on FXOpen and recently started an upside correction.

Read more on FXOpen blog...

 

[FXOpen]

AUD/USD and NZD/USD Monthly Outlook

AUD/USD declined heavily in July 2019 and found support near 0.6680 in August 2019. Similarly, NZD/USD remained in a bearish zone below 0.6500. Both pairs might correct higher, but upsides are likely to remain capped.

AUD/USD Technical Analysis

In July 2019, the Aussie Dollar broke a major support area near the 0.6860 level against the US Dollar. The AUD/USD pair declined heavily and settled below the 0.6900 and 0.6860 support levels.

Moreover, there was a break below the 0.6800 level and the pair settled well below the 50-day simple moving average. A new multi-month low was formed near 0.6677 on FXOpen and the pair started forming a decent support base in August 2019.

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[FXOpen]

GBP/USD and EUR/GBP: British Pound Back In Action

GBP/USD started a solid upward move from the 1.2150 support area and climbed above 1.2500. EUR/GBP is currently declining and it might continue to struggle below 0.8900.

GBP/USD Technical Analysis

The British Pound started a strong rise after it broke the 1.2300 resistance area against the US Dollar. The GBP/USD pair climbed above the 1.2400 resistance level to continue higher and post a new monthly high.

The pair even settled above the 1.2400 level and the 50 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near 1.2350 on the hourly chart of GBP/USD.

Read more on FXOpen blog...

 

[FXOpen]

EUR/USD And USD/CHF Eyeing Upside Break

EUR/USD recovered recently above the 1.1025 resistance level and it might continue to rise. USD/CHF is currently consolidating and it seems like it is sighting an upside break above 0.9940.

EUR/USD Technical Analysis

After a sharp decline, the Euro found support near the 1.1000 area support against the US Dollar. The EUR/USD pair traded as low as 1.0990 on FXOpen and recently started a solid recovery.

The pair broke the 1.1025 and 1.1040 resistance levels to start a decent recovery. Moreover, there was a break above the 1.1050 resistance and the 50 hourly simple moving average.

Read more on FXOpen blog...

 

[FXOpen]

Gold Price and Crude Oil Price Approaching Resistance

Gold price recovered nicely from the $1,480 support area and climbed above $1,500. Crude oil price is correcting gains and it is facing hurdles near $60.00.

Gold Price Technical Analysis

Earlier this week, gold price declined sharply below the $1,500 support area against the US Dollar. The price even traded below the $1,490 support level and traded close to the $1,480 support area.

A swing low was formed near $1,483 on FXOpen and the price recently started a fresh increase. It broke the $1,490 and $1,495 resistance levels to move into a positive zone.

Find more about Gold and Crud Oil Technical Analysis...

 

[FXOpen]

GBP/USD Ans USD/CAD Likely Preparing For Next Move

GBP/USD is following a nice bullish path above the 1.2450 support area and it could continue to rise. USD/CAD is also trading in a positive zone and is sighting the next key break.

GBP/USD Technical Analysis

The British Pound formed a solid support base above the 1.2280 level against the US Dollar. As a result, the GBP/USD pair started a strong upward move and broke many hurdles near the 1.2350 and 1.2400.

The pair even broke the 1.2500 resistance area and the 50 hourly simple moving average. Finally, the pair climbed above the 1.2550 level and traded to a new monthly high at 1.2581 on FXOpen.

Read more on FXOpen blog...

 

[FXOpen]

EUR/USD and USD/JPY Facing Key Resistance

EUR/USD corrected higher above 1.1000, but it is facing many important resistances near 1.1025. Similarly, USD/JPY is approaching towards the 107.50 resistance area.

EUR/USD Technical Analysis

There were mostly bearish moves in the Euro in the past few days below 1.1050 against the US Dollar. The EUR/USD pair followed a bearish path and even broke the 1.1000 support area.

Moreover, there was a close below the 1.1000 level and the 50 hourly simple moving average. The pair traded to a new weekly low at 1.0965 on FXOpen and recently started an upside correction.

Read more on FXOpen blog...

 

[FXOpen]

GBP/USD and EUR/GBP: British Pound In Corrective Decrease

GBP/USD is declining and is trading below the 1.2400 and 1.2350 support levels. EUR/GBP is rising again and is trading near the key 0.8900 resistance area.

GBP/USD Technical Analysis

The British Pound topped below the 1.2600 resistance area against the US Dollar. The GBP/USD pair started a fresh decline and broke many key supports near the 1.2500 and 1.2440 levels.

Moreover, there was a close below the 1.2400 support area and the 50 hourly simple moving average. The decline was such that the price even traded below the 1.2300 level. A new weekly low was formed near 1.2270 on FXOpen and the pair is currently consolidating losses.

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

 

[FXOpen]

EUR/USD And USD/CHF Setting Up For Next Break

EUR/USD remained well bid above the 1.0980 and 1.1000 levels and it could continue to rise. USD/CHF is currently holding an important support and it could climb above 1.0000.

EUR/USD Technical Analysis

Recently, there was an upward move in the Euro above the 1.1020 resistance against the US Dollar. The EUR/USD pair traded above the 1.1040 level, but it struggled to clear the 1.1060 resistance area.

A swing high was formed near 1.1060 on FXOpen and the pair corrected lower below the 50 hourly simple moving average. The pair traded below the 1.1020 support area and tested the 1.0990 area.

A low was formed near 1.0991 and the pair is currently climbing higher. The recent high was 1.1044 and the pair is trading near the 50 hourly SMA. Moreover, it tested the 38.2% Fib retracement level of the recent wave from the 1.0991 low to 1.1044 high.

On the upside, there is a strong resistance forming near the 1.1040 level. Besides, there is a major bearish trend line forming with resistance near 1.1040 on the hourly chart of EUR/USD.

Read more about EUR/USD And USD/CHF on FXOpen blog...