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Forex Technical Analysis by FXOpen

GBP/USD Turns Red, USD/CAD is Consolidating Gains

GBP/USD started a strong decline from well above the 1.2750 level and it broke the 1.2550 support. Conversely, USD/CAD climbed towards 1.3680 and it is currently consolidating gains.

GBP/USD Technical Analysis
In the past few days, the British Pound followed a bearish path from well above 1.2750 against the US Dollar. The GBP/USD pair broke many important supports such as 1.2650 and 1.2550 to enter a bearish zone.

The pair even broke the 1.2420 support level and settled below the 50 hourly simple moving average. A new weekly low is formed near the 1.2335 level on FXOpen and the pair is currently correcting higher.

GBPUSD-Chart-3-1024x479.png


An initial resistance on the upside is near the 1.2400 and 1.2420 levels. The 23.6% Fib retracement level of the downward move from the 1.2687 high to 1.2335 low is also near 1.2420 along with the 50 hourly simple moving average.

Read more about GBP/USD and USD/CAD Analysis on FXOpen blog...
 
EUR/USD and EUR/JPY Trading Near Make-or-Break Levels

EUR/USD started a decent upward move above 1.1250, but it is facing hurdles near 1.1350. EUR/JPY is also trading in a positive zone, but it must surpass 121.00 for more gains.

EUR/USD Technical Analysis
After forming a support base above 1.1200, the Euro started a decent increase against the US Dollar. The EUR/USD pair traded above the 1.1250 resistance zone to enter an uptrend.

The pair even surpassed the 1.1300 resistance level and the 50 hourly simple moving average. However, the bulls struggled to clear the 1.1350 resistance zone. A high is formed near 1.1348 on FXOpen and the pair is currently correcting lower.

EURUSD-Chart-3-1024x479.png


There was a break below the 23.6% Fib retracement level of the recent wave from the 1.1233 low to 1.1348 high. On the downside, there is a short-term support forming near the 1.1300 level.

Read more about EUR/USD and EUR/JPY Analysis on FXOpen blog...
 
Gold Price And Crude Oil Price Trading Near Crucial Juncture

Gold price rallied to a new multi-year high above $1,775 before correcting lower. Crude oil price is currently recovering from $37.15, but it is facing many hurdles.

Gold Price Technical Analysis
Gold price remained in an uptrend and started a fresh increase above the $1,750 resistance against the US Dollar. The price broke the $1,760 resistance level and trade to a new multi-year high.

It traded as high as $1,779 on FXOpen and recently started a downside correction. It declined below the $1,760 support level and the 50 hourly simple moving average. However, the $1,755 region acted as a support and a low is formed near $1,754.

Gold-Price-Chart-1-1024x479.png


The price is currently consolidating in a range and it managed to recover above the 23.6% Fib retracement level of the recent decline from the $1,779 high to $1,754 low.

Read more about Gold and Crude Oil Analysis on FXOpen blog...
 
GBP/USD and EUR/GBP: British Pound Signaling More Upsides

GBP/USD started a strong increase above the 1.2560 resistance and climbed above 1.2620. EUR/GBP declined steadily and it is now facing hurdles near 0.8965.

GBP/USD Technical Analysis
In the past few days, the British Pound followed a bullish path above the 1.2560 resistance level against the US Dollar. The GBP/USD pair remained in a nice uptrend and climbed above the 1.2600 pivot level.

Finally, the pair surpassed the 1.2620 resistance and settled nicely above the 50 hourly simple moving average. It traded as high as 1.2665 on FXOpen and recent corrected lower.

GBPUSD-Chart-1-1024x479.png


There was a downside correction below the 1.2640 and 1.2620 levels. The pair even spiked below 1.2600 and the 50 hourly simple moving average. It found support near the 1.2566 level and it is currently rising.

Read more about GBP/USD and EUR/GBP Analysis on FXOpen blog...
 
EUR/USD and EUR/JPY Could To Gain Bullish Momentum

EUR/USD started a decent recovery wave above the 1.1345 resistance zone. EUR/JPY is also rising and it is trading nicely above the 122.00 level.

EUR/USD Technical Analysis
After forming a strong support near 1.1275, the Euro started a steady rise against the US Dollar. The EUR/USD pair broke the main 1.1320 and 1.1345 resistance levels to move into a positive zone.

The pair even climbed above the 1.1375 resistance and settled above the 50 hourly simple moving average. Finally, the pair spiked above 1.1400 and traded as high as 1.1423 on FXOpen.

EURUSD-Chart-2-1024x479.png


It is currently correcting lower and trading below the 1.1400 level. It declined below the 23.6% Fib retracement level of the recent upward move from the 1.1325 low to 1.1423 high. On the downside, there is a major support forming near the 1.1375 level (the recent breakout zone).

Read more about EUR/USD and EUR/JPY Analysis on FXOpen blog...
 
Gold Price Could Decline While Oil Price Aims More Upsides

Gold price traded to a new multi-year high towards $1,818 before correcting lower. Crude oil price is currently rising and it might continue to climb as long as it is above $40.00.

Gold Price Technical Analysis
Gold price gained traction above the $1,800 resistance against the US Dollar. The price traded to a new multi-year high close to $1,818 on FXOpen, but it struggled to continue higher.

The bulls made a couple of attempts to gain strength above the $1,815 level, but they failed to push the price further gains. In the past few days, there were range moves below the $1,815 and $1,818 levels.

Gold-Price-Chart-1-1024x479.png


Recently, there was a downside correction below the $1,810 level and the 50 hourly simple moving average. Moreover, there was a break below a connecting bullish trend line with support near $1,800 on the hourly chart of gold.

Read more about Gold and Crude Oil Analysis on FXOpen blog...
 
GBP/USD Diving While USD/CAD Is Showing Bullish Signs

GBP/USD struggled to continue above the 1.2650 resistance and declined below 1.2550. USD/CAD is showing positive signs and it could continue to rise towards 1.3650.

GBP/USD Technical Analysis

This past week, the British Pound made a couple of attempts to gain strength above 1.2650 against the US Dollar. However, the GBP/USD pair failed to continue higher and it started a fresh decline below 1.2600.

There was a break below a few key supports near the 1.2580 and 1.2550 levels. Moreover, there was a close below the 1.2550 level and the 50 hourly simple moving average

GBPUSD-Chart-2-1024x479.png


The pair traded close to the 1.2500 area and a low was formed at 1.2511 on FXOpen. Recently, there was a minor upside correction above the 1.2550 level and the 50 hourly simple moving average.

Read more about GBP/USD and USD/CAD Analysis on FXOpen blog...
 
EUR/USD Rallies Past 1.1500, USD/CHF Nosedived Below 0.9400

EUR/USD is gaining bullish momentum and it broke the 1.1500 resistance. USD/CHF is declining and it broke many supports near 0.9400 and 0.9380.

EUR/USD Technical Analysis
In the past few days, the Euro followed a bullish path above the 1.1320 pivot level against the US Dollar. The EUR/USD pair broke many hurdles near 1.1450 to move further into a bullish zone.

The bulls gained strength and the pair recently rallied above the 1.1500 level. The pair settled nicely above the 1.1500 level and the 50 hourly simple moving average. A new monthly high is formed near 1.1545 on FXOpen and the pair is showing a lot of positive signs.

EURUSD-Chart-3.png


On the downside, an initial support is near the 1.1520 level or the 23.6% Fib retracement level of the recent upward move from the 1.1425 low to 1.1545 high.

If the pair corrects lower below 1.1520, it could test the 1.1480 support zone. The 50% Fib retracement level of the recent upward move from the 1.1425 low to 1.1545 high is also near the 1.1485 level.

Read more about EUR/USD and USD/CHF Analysis on FXOpen blog...
 
Gold Price And Crude Oil Price Could Accelerate Further

Gold price gained traction and surged above the $1,880 resistance. Similarly, crude oil price is showing positive signs above $40.00 and it might continue to rise.

Gold Price Technical Analysis
Gold price started a strong increase from the $1,500 support zone against the US Dollar. There was a clear break above the $1,600 and $1,800 resistance levels.

The price accelerated its gains above the $1,850 level and settled well above the 50-day simple moving average. It traded to a new multi-year high at $1,888 on FXOpen and it is currently consolidating gains.

Gold-Price-Chart-2.png


An initial support on the downside is near the $1,865 level. It is close to the 23.6% Fib retracement level of the upward move from the $1,790 low to $1,888 high. The main support on the downside is forming near the $1,850 level.

Read more about Gold and Crude Oil Analysis on FXOpen blog...
 
GBP/USD Surges Above 1.2800, EUR/GBP Facing Major Hurdle

GBP/USD started a strong increase above the 1.2600 resistance and climbed above 1.2800. EUR/GBP is trading in a positive zone, but it is facing a major hurdle near 0.9130.

GBP/USD Technical Analysis
In the past few days, the British Pound started a steady increase above the 1.2600 resistance level against the US Dollar. The GBP/USD pair broke many hurdles near 1.2720 to move further into a positive zone.

It even surpassed the 1.2800 resistance and settled well above the 50 hourly simple moving average. It traded as high as 1.2858 on FXOpen and it is currently consolidating gains.

GBPUSD-Chart-3.png


An initial support is near the 1.2825 level. It is close to the 23.6% Fib retracement level of the recent wave from the 1.2717 low to 1.2858 high. The first major support is forming near the 1.2800 level.

Read more about GBP/USD and EUR/JBP Analysis on FXOpen blog...
 
EUR/USD Holding Uptrend, USD/JPY Could Extend Losses

EUR/USD started a steady increase above the 1.1650 and 1.1700 levels. USD/JPY is declining and it remains at a risk of more losses below 105.00.

EUR/USD Technical Analysis
In the past few days, the Euro followed a bullish path above the 1.1600 resistance level against the US Dollar. The EUR/USD pair even broke the 1.1680 level to move further into a positive zone.

The upward move was such that the pair surpassed the 1.1720 pivot level and settled above the 50 hourly simple moving average. It traded as high as 1.1781 on FXOpen and recent corrected lower.

EURUSD-Chart-4.png


It tested the 1.1700 pivot and support level. It is currently consolidating and slowly moving higher above 1.1710. It surpassed the 23.6% Fib retracement level of the recent correction from the 1.1781 high to 1.1698 low.

Read more about EUR/USD and USD/JPY Analysis on FXOpen blog...
 
AUD/USD And NZD/USD Likely To Continue Higher

AUD/USD is trading in a positive zone above the 0.7200 resistance zone. Similarly, NZD/USD is gaining traction and it could continue to climb higher above the 0.6700 resistance.

AUD/USD Technical Analysis
The Aussie Dollar remained well bid above the 0.7100 level and started a steady rise against the US Dollar. The AUD/USD pair broke the 0.7150 resistance zone to move further into a positive zone.

The pair even managed to clear the 0.7200 resistance zone and it settled nicely above the 50 hourly simple moving average. It traded as high as 0.0.7224 on FXOpen and it is currently correcting gains.

AUDUSD-Chart-1.png


There was break below the 0.7220 and 0.7210 levels. The pair even spiked below the 23.6% Fib retracement level of the recent upward move from the 0.7120 low to 0.7224 high. However, the recent breakout zone near 0.7195 and 0.7200 is currently acting as a strong support.

Read more about AUD/USD and NZD/USD Analysis on FXOpen blog...
 
GBP/USD and GBP/JPY: British Pound Could Extend Gains

GBP/USD started a strong increase above the 1.2850 and 1.3000 resistance levels. GBP/JPY is also rising and it is likely to continue higher above 139.00 unless there is a break below 138.00.

GBP/USD Technical Analysis
This past week, the British Pound started a strong increase above the 1.2880 resistance against the US Dollar. The GBP/USD pair gained bullish momentum and it even surpassed the 1.3000 barrier.

The pair broke the 1.3100 level and settled well above the 50 hourly simple moving average. It traded as high as 1.3170 on FXOpen and recently started a downside correction. There was a break below the 1.3120 support level.

GBPUSD-Chart.png


The pair traded below the 38.2% Fib retracement level of the upward wave from the 1.2944 low to 1.3170 high. However, the pair remained stable above the 1.3060 level.

Read more about GBP/USD and GBP/JPY Analysis on FXOpen blog...
 
EUR/USD and EUR/JPY: Technicals Indicate Further Gains

EUR/USD is trading in a positive zone above the 1.1750 pivot level. EUR/JPY is also rising and it is likely to continue higher above the 125.00 resistance level.

EUR/USD Technical Analysis
In the past few days, there was a steady rise in the Euro above the 1.1700 level against the US Dollar. The EUR/USD pair even traded above 1.1850 resistance level to move into a positive zone.

The pair traded as high as 1.1908 on FXOpen before starting a downside correction. It traded below the 1.1800 level, but the 1.1700 zone acted as a strong support. A low is formed near 1.1695 and the pair is currently rising.

EURUSD-Chart.png


It surpassed the 1.1750 resistance and the 50 hourly simple moving average. It even climbed above the 50% Fib retracement level of the downward move from the 1.1908 high to 1.1695 low.

Read more about EUR/USD and EUR/JPY Analysis on FXOpen blog...
 
GBP/USD and GBP/JPY: British Pound At Risk of More Downsides

GBP/USD failed twice near the 1.3250 resistance area and declined sharply. GBP/JPY is also trading in a negative zone and it could continue to move down if it breaks the 138.35 support.

GBP/USD Technical Analysis
This past week, the British Pound made another attempt to gain pace above the 1.3250 resistance against the US Dollar. However, the GBP/USD pair failed to continue higher and started a sharp decline.

A high was formed near 1.3254 on FXOpen and the pair dived below the 1.3150 support. There was also a break below the 1.3120 support zone and the 50 hourly simple moving average. The pair traded close to the 1.3050 support and a low is formed near 1.3059.

GBPUSD-Chart-3.png


It is currently consolidating losses and trading above 1.3080. It seems like there is a short-term breakout pattern forming with resistance near 1.3100 on the hourly chart of GBP/USD.

Read more about GBP/USD and GBP/JPY Analysis on FXOpen blog...
 
EUR/USD Could Extend Losses, USD/CHF Eyeing Upside Break

EUR/USD is recovering, but it is facing hurdles near 1.1840 and 1.1850. USD/CHF is approaching a crucial breakout and the pair might surge if it clears 0.9100.

EUR/USD Technical Analysis
In the past few days, the Euro followed a larger decline from well above the 1.1900 level against the US Dollar. The EUR/USD pair broke the 1.1850 support zone to move into a bearish zone.

The pair even settled below the 1.1820 level and the 50 hourly simple moving average. It traded as low as 1.1754 and it is currently correcting higher. However, the pair seems to be facing hurdles near the 1.1840 and 1.1850 levels.

EURUSD-Chart-3.png

A swing high is formed near 1.1849 on FXOpen and the pair is currently consolidating in a range. It tested the 50% Fib retracement level of the upward move from the 1.1754 low to 1.1849 high.

Read more about EUR/USD and USD/CHF Analysis on FXOpen blog...
 
Gold Price and Oil Price Eye Next Key Bullish Break

Gold price is forming a new support base above the $1,900 level. Crude oil price is currently rising and eyeing an upside break above the $43.30 resistance.

Gold Price Technical Analysis
Gold price started a bearish wave below the $2,000 level against the US Dollar. The price broke the $1,950 support level to move into a short-term bearish zone.

The price even traded below the $1,920 level, but it found support above $1,900. The recent low is formed near $1,909 on FXOpen and the price is currently correcting higher.

Gold-Price-Chart-1.png


It broke the $1,920 and $1,930 resistance levels. There was also a break above the 38.2% Fib retracement level of the recent decline from the $1,976 high to $1,909 low, and the 50 hourly simple moving average.

Read more about Cold and Crude Oil Analysis on FXOpen blog...
 
GBP/USD Surging While EUR/GBP Turns Red Below 0.8950

GBP/USD started a strong increase above the 1.3200 resistance and it is likely to continue higher. EUR/GBP is currently declining and trading in a bearish zone below 0.8950.

GBP/USD Technical Analysis
The British Pound managed to settle above the 1.3200 resistance zone against the US Dollar. The GBP/USD pair broke a major hurdle near the 1.3250 zone to move further into a positive zone.

It even surpassed the 1.3300 resistance and settled well above the 50 hourly simple moving average. It traded as high as 1.3367 on FXOpen and it is currently consolidating gains. An initial support on the downside is near the 1.3320 level.

GBPUSD-Chart-4.png


The 23.6% Fib retracement level of the recent rise from the 1.3161 low to 1.3367 high is also near the 1.3318 level to act as a strong support. The next major support is near the 1.3280 level.

Read more about GBP/USD and EUR/GBP Analysis on FXOpen blog...
 
GBP/USD Showing Positive Signs While GBP/JPY Could Nosedive

GBP/USD is trading above the 1.2920 support, but it is facing many hurdles near 1.3000. GBP/JPY is declining and it remains at a risk of more downsides below 135.00.

GBP/USD Technical Analysis
This past week, the British Pound found support near the 1.2800 zone against the US Dollar. GBP/USD started a decent increase and surpassed the 1.2880 and 1.2900 resistance levels.

The pair even climbed above the 1.2950 resistance and the 50 hourly simple moving average. However, the pair failed to gain pace above the key 1.3000 resistance zone. The bulls many attempts to clear 1.3000, but they failed.

GBPUSD-Chart-2.png


The recent high was formed near 1.2999 on FXOpen before the pair declined back to 1.2910. A low is formed near 1.2913 and the pair is currently correcting higher.

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


 
EUR/USD and EUR/JPY: Decent Recovery Underway

EUR/USD started an upside correction above the 1.1660 and 1.1700 resistance levels. EUR/JPY tested the 124.25 resistance and it is currently correcting lower.

EUR/USD Technical Analysis
This past week, the Euro faced an increase in selling pressure below 1.1780 against the US Dollar. The EUR/USD pair broke the 1.1700 support level to move further into a bearish zone.

The decline gained pace below the 1.1660 support level and the 50 hourly simple moving average. The pair traded close to the 1.1600 level and formed a low at 1.1612 on FXOpen.

eurusd-chart-4.png


A support base was formed above 1.1600 and the pair recently started a decent upward move. There was a break above the 1.1650 and 1.1660 resistance levels. Moreover, there was a break above a key bearish trend line with resistance near 1.1680 on the hourly chart of EUR/USD.

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