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Forex Technical Analysis by FXOpen

Discussion in 'Market Forecasts and Analysis' started by FXOpen, Sep 28, 2018.

  1. FXOpen

    FXOpen

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    EUR/USD And USD/JPY Could Start Decent Recovery

    EUR/USD is currently attempting an upside correction from the 1.0998 low, but it is facing hurdles near 1.1020. Similarly, USD/JPY must surpass 109.25 to start a decent recovery in the near term.

    EUR/USD Technical Analysis
    In the past few days, the Euro declined heavily below the 1.1085 and 1.1050 support levels against the US Dollar. The EUR/USD pair broke the 1.1040 support level to enter a bearish zone.

    Moreover, there was a close below the 1.1040 level and the 50 hourly simple moving average. A low is formed at 1.0998 on FXOpen and the pair is currently correcting higher.

    [​IMG]

    It broke the 1.1010 level, plus the 23.6% Fib retracement level of the recent decline from the 1.1061 high to 1.0998 low. Moreover, there was a break above a key bearish trend line with resistance near 1.1018 on the hourly chart of EUR/USD.

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

    FXOpen

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    AUD/USD And NZD/USD Likely To Continue Lower

    AUD/USD remained in a bearish zone and broke the 0.6750 support area. NZD/USD is also declining and it is likely to continue lower below the 0.6480 support area.

    AUD/USD Technical Analysis
    After forming a top near the 0.6880 level, the Aussie Dollar started a strong decline against the US Dollar. The AUD/USD pair broke many supports near 0.6820 and 0.6800 to enter a bearish zone.

    Moreover, there was a break below the 0.6750 support and the 50 hourly simple moving average. The recent decline was such that the pair traded close to the 0.6700 support area.

    [​IMG]

    A low is formed near 0.6700 and the pair is currently consolidating losses. It tested the 38.2% Fib retracement level of the recent decline from the 0.6762 high to 0.6700 low.

    However, there are many hurdles for the bulls on the upside near the 0.6725 and 0.6730 levels. Moreover, there is a major bearish trend line forming with resistance near 0.6725 on the hourly chart of AUD/USD.


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

    FXOpen

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    GBP/USD and EUR/GBP: British Pound Bulls In Control

    GBP/USD started a strong increase above the 1.3100 resistance area and climbed to 1.3200. EUR/GBP is currently correcting higher, but upsides remain capped in the near term.

    GBP/USD Technical Analysis
    After forming a support base near the 1.2980 level, the British Pound started a strong rise against the US Dollar. As a result, the GBP/USD pair broke many hurdles near 1.3050 and 1.3100 to enter a positive zone.

    Moreover, there was a break above the 1.3160 resistance area and the pair settled nicely above the 50 hourly simple moving average. Finally, it climbed above the 1.3200 level and traded as high as 1.3209 on FXOpen.

    [​IMG]
    It is currently correcting lower below the 1.3200 and 1.3180 levels. There was a break below the 23.6% Fib retracement level of the upward move from the 1.3100 low to 1.3209 high.

    However, the pair is now trading near the 1.3160 support area. More importantly, there is a connecting bullish trend line forming with support near 1.3135 on the hourly chart of GBP/USD.

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

    FXOpen

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    EUR/USD Diving While USD/CHF Is Showing Positive Signs

    EUR/USD failed to continue above the 1.1100 resistance area and decline recently below 1.1070. Conversely. USD/CHF is climbing higher and showing positive signs above 0.9680.

    EUR/USD Technical Analysis

    This past week, the Euro started a decent recovery above the 1.1040 resistance area against the US Dollar. The EUR/USD pair even broke the 1.1080 resistance area, but it struggled to climb above the 1.1100 resistance area.

    A high was formed near 1.1095 on FXOpen and the pair started a fresh decline. It broke the 1.1080 and 1.1070 levels to move into a bearish zone.

    [​IMG]

    Moreover, there was a close below the 1.1050 level and the 50 hourly simple moving average. The pair even traded below the 50% Fib retracement level of the upward move from the 1.0992 low to 1.1095 high.

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

    FXOpen

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    Gold Price And Crude Oil Price Facing Hurdles

    Gold price is gaining momentum above the $1,550 level, but it is facing hurdles. Similarly, crude oil price is facing a strong hurdle near the $51.80 and $52.00 levels.

    Gold Price Technical Analysis

    After a strong decline, gold price found support near the $1,547 and $1,548 levels against the US Dollar. A support base was formed above $1,545 and the price started a decent upward move from the $1,547 low (formed on FXOpen).

    It broke the $1,550 and $1,555 resistance levels. Moreover, there was a close above the $1,560 level and the 50 hourly simple moving average.

    [​IMG]

    More importantly, there was a break above a key bearish trend line with resistance near $1,565 on the hourly chart of gold. The price even climbed above the 23.6% Fib retracement level of the downward move from the $1,593 high to $1,547 low.

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

    FXOpen

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    GBP/USD In Downtrend While USD/CAD Could Rise Again

    GBP/USD declined heavily in the past few days and broke the 1.3000 support area. Conversely, USD/CAD climbed towards the 1.3300 resistance area and it is currently consolidating gains.

    GBP/USD Technical Analysis

    The British Pound failed to gain strength above the 1.3200 resistance area against the US Dollar. As a result, the GBP/USD pair started a fresh decline and broke many supports near the 1.3100 area.

    Moreover, there was a break below the 1.3000 support area and the 50 hourly simple moving average. Finally, the pair declined below the 1.2950 support area. The recent decline was such that the pair spiked below 1.2900 and traded as low as 1.2881 on FXOpen.

    [​IMG]

    The pair is currently consolidating losses above 1.2880. It is testing the 23.6% Fib retracement level of the recent decline from the 1.2958 high to 1.2881 low.

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

    FXOpen

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    EUR/USD And USD/JPY Trading Near Make-or-Break Levels

    EUR/USD is declining heavily and it is currently consolidating above the 1.0880 support area. USD/JPY climbed higher nicely, but it is facing hurdles near the 110.00 resistance area.

    EUR/USD Technical Analysis

    In the past few days, the Euro declined steadily below the 1.1100 and 1.0980 support levels against the US Dollar. The EUR/USD pair even broke the 1.0950 support level to enter a bearish zone.

    Moreover, there was a close below the 1.0940 level and the 50 hourly simple moving average. A new 2020 low is formed at 1.0891 on FXOpen and the pair is currently correcting higher.

    [​IMG]

    It traded above the 1.0900 level and climbed above the 23.6% Fib retracement level of the recent slide from the 1.0976 high to 1.0891 low. However, the pair is facing a strong resistance near the 1.0925 level.

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

    FXOpen

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    AUD/USD And NZD/USD Facing Key Hurdles

    AUD/USD recovered recently, but it is facing hurdles near the 0.6750 resistance area. Similarly, NZD/USD must climb above the 0.6450 resistance area to continue higher.

    AUD/USD Technical Analysis

    After a steady decline, the Aussie Dollar found support near the 0.6660 area against the US Dollar. The AUD/USD pair started an upside correction and traded above the 0.6700 resistance.

    Moreover, there was a break below the 0.6720 area and the 50 hourly simple moving average. However, the pair struggled to gain momentum above the 0.6750 resistance and declined recently.

    [​IMG]

    It traded as low as 0.6709 on FXOpen and it is currently moving higher. It surpassed the 50% Fib retracement level of the recent decline from the 0.6745 high to 0.6709 low.

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

    FXOpen

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    GBP/USD and EUR/GBP: British Pound Climbing Higher

    GBP/USD started a decent recovery and climbed above the 1.3020 resistance area. EUR/GBP declined heavily below 0.8400 and it could continue to move down towards 0.8250.

    GBP/USD Technical Analysis

    After a steady decline, the British Pound found support near 1.2900 and 1.2880 against the US Dollar. As a result, the GBP/USD pair started an upward move above the 1.2950 and 1.3000 resistance levels.

    The upward move was such that the pair even climbed above the 1.3020 area and the 50 hourly simple moving average. Finally, it climbed above the 1.3050 level and traded as high as 1.3069 on FXOpen.

    [​IMG]

    It is currently correcting lower below the 1.3050 and 1.3040 levels. There was a break below the 38.2% Fib retracement level of the upward move from the 1.2943 low to 1.3069 high.

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

    FXOpen

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    EUR/USD Nosedives While USD/CHF Is Rising Steadily

    EUR/USD started a strong decline below 1.1000 and traded below 1.0850. Conversely, USD/CHF is rising steadily and it recently climbed above the 0.9800 resistance area.

    EUR/USD Technical Analysis

    In the past few days, the Euro followed a strong bearish path below the 1.0900 support area against the US Dollar. The EUR/USD pair even broke the 1.0850 support area to move into a bearish zone.

    The recent decline was such that the pair dived below the 1.0800 level and settled well below the 50 hourly simple moving average. A new monthly low is formed near 1.0785 on FXOpen and the pair is currently consolidating losses.

    [​IMG]

    It is trading above the 23.6% Fib retracement level of the downward move from the 1.0836 high to 1.0785 low. On the upside, there are many hurdles near the 1.0810 and 1.0820 levels.

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

    FXOpen

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    Gold Price Surging While Crude Oil Price Might Correct Lower

    Gold price surged above the $1,620 level and it might continue to rise. Crude oil price is currently correcting lower and it could decline towards the $52.50 support.

    Gold Price Technical Analysis

    In the past few days, gold price started a strong rise above the $1,580 pivot level against the US Dollar. The bulls gained strength, resulting in a sharp upward move above the $1,600 resistance area.

    The upward move was such that the price settled above the $1,610 level and the 50 hourly simple moving average. Finally, it broke the $1,620 resistance and traded to a new 2020 high at $1,624 on FXOpen.

    [​IMG]

    The price is currently trading with a strong bullish bias and it might continue to rise above the $1,625 level. The next key resistance on the upside is near the $1,640 and $1,645 levels.

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

    FXOpen

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    GBP/USD and GBP/JPY: British Pound Could Resume Upside

    GBP/USD started a decent increase from the 1.2849 low and recovered above 1.2950. GBP/JPY is trading nicely in a positive zone above 144.00 and it could continue to rise.

    GBP/USD Technical Analysis
    This past week, the British Pound declined towards the 1.2850 support area against the US Dollar. However, the GBP/USD pair remained well bid near 1.2850 and 1.2855.

    A low was formed near 1.2849 on FXOpen and the pair started a fresh increase. It surpassed the 1.2920 and 1.2940 resistance levels to move into a short term positive zone.
    [​IMG]
    The pair traded above the 50% Fib retracement level of the downward move from the 1.3048 high to 1.2849 low. During the rise, there was a break above a connecting bearish trend line with resistance near 1.2948 on the hourly chart.

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

    FXOpen

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    EUR/USD Recovering Nicely While USD/JPY Is Sliding

    EUR/USD started an upside correction from the 1.0780 support area and recovered above 1.0820. USD/JPY is currently declining, but it is approaching a key support near 109.80.

    EUR/USD Technical Analysis
    After a major decline, the Euro found support near the 1.0780 and 1.0785 levels against the US Dollar. As a result, the EUR/USD pair started a decent upward move and recovered above the 1.0820 resistance.

    Moreover, there was a close above the 1.0840 and the 50 hourly simple moving average. Finally, the pair climbed above the 1.0875 level and traded as high as 1.0890 on FXOpen.

    [​IMG]

    It is currently correcting lower and trading below the 1.0875 level. Besides, there was a break below the 23.6% Fib retracement level of the upward move from the 1.0830 low to 1.0890 high.

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

    FXOpen

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    AUD/USD And NZD/USD Nosedive Below Key Supports

    AUD/USD started a strong decline and traded below the key 0.6600 support area. Similarly, NZD/USD is declining heavily and it could continue to dive below the 0.6250 support.

    AUD/USD Technical Analysis
    After forming a top near the 0.6700 area, the Aussie Dollar started a major decline below 0.6650 against the US Dollar. The AUD/USD pair even broke the 0.6600 support level to enter a bearish zone.

    Moreover, there was a break below the 0.6560 support and the 50 hourly simple moving average. It opened the doors for more losses and the pair traded as low as 0.6527 on FXOpen.

    [​IMG]
    It is currently trading with a strong bearish angle below 0.6550. On the upside, an initial resistance is near the 0.6545 level. Besides, the 23.6% Fib retracement level of the recent decline from the 0.6591 high to 0.6527 low is also near 0.6545.

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

    FXOpen

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    GBP/USD Facing Hurdles While EUR/GBP Is Surging

    GBP/USD declined heavily below the 1.2920 and 1.2900 support levels. EUR/GBP rallied sharply and climbed above the 0.8500 resistance area.

    GBP/USD Technical Analysis
    This past week, the British Pound struggled to gain bullish momentum above the 1.3000 resistance against the US Dollar. As a result, the GBP/USD pair started a major decline below the 1.2950 and 1.2920 levels.

    Moreover, there was a break below the 1.2860 support level and the 50 hourly simple moving average. Finally, the pair declined below the 1.2800 area and traded as low as 1.2725 on FXOpen.
    [​IMG]
    It is currently correcting higher above the 1.2780 and 1.2800 levels. There was a break above the 50% Fib retracement level of the recent decline from the 1.2919 high to 1.2725 low.

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

     
  16. FXOpen

    FXOpen

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    EUR/USD Rallies After Fed Rate Cut While USD/CHF Is Diving

    EUR/USD started a strong upward move above the 1.1020 resistance area and extended gains after the fed rate cut. Conversely, USD/CHF is under pressure and it is likely to extend losses below 0.9550.

    EUR/USD Technical Analysis
    In the past few days, the Euro started a strong increase above the 1.0920 resistance area against the US Dollar. The EUR/USD pair broke a few important hurdles near the 1.1000 and 1.1020 levels to enter a positive zone.

    Moreover, there was a close above the 1.1100 barrier and the 50 hourly simple moving average. The pair traded as high as 1.1211 on FXOpen and it is currently consolidating gains.

    [​IMG]
    It is trading below the 23.6% Fib retracement level of the upward move from the 1.1095 low to 1.1211 high. An initial support is seen near the 1.1150 level.

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

    FXOpen

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    Gold Price Is Rising But Crude Oil Price Could Extend Losses

    Gold price is showing a lot of positive signs above the $1,660 resistance area. Crude oil price is currently sliding and it might continue to move down below $45.50

    Gold Price Technical Analysis

    This past week, gold price corrected lower sharply below the $1,600 support area against the US Dollar. However, the bulls were able to protect the $1,570 support area.

    As a result, there was a fresh rally above the $1,600 and $1,620 resistance levels. Moreover, the price gained pace above the $1,650 resistance and the 50 hourly simple moving average. Finally, it broke the $1,660 resistance and traded to a weekly high at $1,676 on FXOpen.

    [​IMG]
    The price is currently consolidating gains and trading below $1,670. An initial support is near the $1,666 level. It is the 23.6% Fib retracement level of the recent rally from the $1,633 low to $1,676 high.

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


     
  18. FXOpen

    FXOpen

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    GBP/USD Surging While GBP/JPY Could Decline Further

    GBP/USD started a strong increase from the 1.2780 support area and jumped above 1.2950. Conversely, GBP/JPY is declining and it could extend losses below 134.00.

    GBP/USD Technical Analysis

    This past week, the British Pound started a decent recovery wave from the 1.2780 support area against the US Dollar. The GBP/USD pair broke a few important hurdles near 1.2850 and 1.2925 to move into a positive zone.

    Moreover, the pair jumped above the 1.3000 resistance and the 50 hourly simple moving average. The upward move was such that the pair spiked towards the 1.3125 level and a new weekly high is formed at 1.3124 on FXOpen.

    [​IMG]

    The pair is currently correcting lower below the 1.3100 level. It broke the 23.6% Fib retracement level of the recent wave from the 1.2990 low to 1.3124 high.

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

    FXOpen

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    EUR/USD Eyeing More Gains While USD/JPY Is Facing Hurdles

    EUR/USD followed a strong bullish path above the 1.1200 pivot area and climbed towards 1.1500. USD/JPY is currently recovering higher, but it is facing hurdles near 106.00.

    EUR/USD Technical Analysis
    In the past few days, the Euro started a steady increase above the 1.1200 and 1.1300 resistance levels against the US Dollar. As a result, the EUR/USD pair even broke the 1.1420 resistance area.

    Moreover, there was a break above the 1.1450 level and the pair traded as high as 1.1494 on FXOpen. The pair made a couple of attempts to break the 1.1490 and 1.1500 levels, but it failed.


    [​IMG]

    The last swing high was formed near 1.1478 and the pair recently declined below the 50 hourly simple moving average. The decline was such that the pair spiked below 1.1350 and traded as low as 1.1275.

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

    FXOpen

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    AUD/USD And NZD/USD Facing Key Hurdles

    AUD/USD declined heavily and traded below the key 0.6400 support area. Similarly, NZD/USD declined below 0.6200 and it is currently correcting higher.

    AUD/USD Technical Analysis
    This past week, the Aussie Dollar topped near the 0.6680 resistance area against the US Dollar. The AUD/USD pair started a fresh decline below the 0.6500 and 0.6400 support levels.

    Moreover, there was a close below the 0.6400 support and the 50 hourly simple moving average. It opened the doors for more losses below the 0.6300 level and the pair traded as low as 0.6212 on FXOpen.

    [​IMG]

    It is currently correcting higher and trading above the 0.6250 level. It tested the 23.6% Fib retracement level of the recent drop from the 0.6539 high to 0.6212 low.

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