Sample Category Title

Daily Pivots: (S1) 128.73; (P) 128.88; (R1) 129.13; More....

Intraday bias in EUR/JPY stays neutral and outlook is unchanged. On the downside, firm break of 127.91 support will resume the whole decline from 134.11 to 127.07 resistance turned support next. On the upside, though, break of 130.45 resistance will now argue that whole correction from 134.11 has completed and turn near term outlook bullish for retesting this high.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. As long as 127.07 resistance turned support holds, further rise is still expected to retest 137.49 (2018 high). However, firm break of 127.07 will argue that the medium term trend has reversed, deeper fall would be seen to 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 0.8467; (P) 0.8494; (R1) 0.8514; More...

Intraday bias in EUR/GBP remains on the downside at this point. Corrective rebound from 0.8488 should have completed with three waves up to 0.8656 already. Deeper fall should be seen to retest 0.8448 low first. Firm break there resume larger down trend from 0.9499, towards 0.8276 key support. On the upside, above 0.8543 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8656 resistance holds.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8668 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

The Euro started a fresh decline from well above 1.1620 against the US Dollar. The EUR/USD pair traded below the 1.1600 and 1.1580 support levels.

The pair even declined below the 1.1560 zone and settled below the 50 hourly simple moving average. A low is formed near 1.1529 and the pair is now attempting a recovery. It is now facing a major bearish trend line with resistance near 1.1565 on the hourly chart.

An immediate resistance is near 1.1560 on FXOpen. A break above the 1.1560 and 1.1565 resistance levels could lead the pair towards the 1.1600 zone.

On the downside, an initial support is near the 1.1540 level. The key support is near 1.1525, below which there is a risk of a larger decline. The next major support is near the 1.1500 level.

Daily Pivots: (S1) 1.5760; (P) 1.5827; (R1) 1.5868; More...

Intraday bias in EUR/AUD remains on the downside at this point. As noted before, choppy rise from 1.5250 should have completed at 1.6434. Fall from there should target 100% projection of 1.6434 to 1.5907 from 1.6232 at 1.5705 first. Break there will pave the way to 161.8% projection at 1.5379. On the upside, above 1.5886 minor resistance will turn bias neutral and bring consolidations. But near term outlook will now remain mildly bearish as long as 1.6232 resistance holds, in case of recovery.

In the bigger picture, rise from 1.5250 medium term bottom is seen as a correction to the down trend from 1.9799 (2020 high) only. With 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, such down trend is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

Daily Pivots: (S1) 1.0711; (P) 1.0723; (R1) 1.0745; More....

Further decline is expected in EUR/CHF with 1.0770 resistance intact. Sustained break of 1.0694 low will resume whole down trend from 1.1149. Next target is 61.8% projection of 1.1149 to 1.0694 from 1.0936 at 1.0655. On the upside, though, break of 1.0770 minor resistance will turn bias back to the upside for rebound towards 1.0811 support turned resistance first.

In the bigger picture, the rejection by 55 week EMA maintains medium term bearishness. Fall from 1.1149 (2021 high) is currently seen as the second leg of the patter from 1.0505 (2020 low) first. Hence, in case of deeper fall, we'd look for strong support from 1.0505 to bring rebound. However, sustained break of 1.0505 will resume the long term down trend from 1.2004 (2018 high). Also, medium term outlook will now be neutral at best as long as 1.0936 resistance holds.

On Thursday, the US Dollar declined by 51 pips or 0.40% against the Canadian Dollar. The currency pair tested the support level at 1.2532 during Thursday's trading session.

Everything being equal, the exchange rate could continue to edge lower in a descending channel pattern during the following trading session. The potential target for sellers will be near the 1.2498 level.

However, the USD/CAD currency exchange rate could encounter support at 1.2532 within this session.

On Thursday, the British Pound edged higher by 97 pips or 0.64% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during yesterday's trading session.

All things being equal, the exchange rate could continue to trend higher during the following trading session. The potential target for buyers will be near the 153.00 level.

However, the currency exchange rate could encounter resistance at 152.60 within this session.

The AUD/USD currency pair bounced off a support level formed by the 50– hour simple moving average at 0.7271 on Thursday. As a result, the Australian Dollar surged by 50 pips or 0.69% against the US Dollar.

The exchange rate could continue to trend higher in an ascending channel pattern during the following trading session. The potential target for buyers will be near the 0.7360 area.

However, the currency exchange rate might encounter resistance at 0.7321 within this session.

Daily Pivots: (S1) 1.2527; (P) 1.2564; (R1) 1.2586; More...

Intraday bias in USD/CAD remains on the downside for the moment. Fall from 1.2891 is seen as the third leg of the pattern from 1.2947, and should target 1.2492 support and possibly below. But overall, with 1.2421 support intact, rise from 1.2005 should still be in progress for another rise through 1.2947 at a later stage. Break of 1.2773 resistance will turn bias back to the upside for retesting 1.2947 high.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It should have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650 and above. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

On Thursday, the common European currency edged higher by 36 pips or 0.28% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during yesterday's trading session.

Given that a breakout has occurred through the upper boundary of a descending channel pattern, bullish traders could continue to drive the EUR/JPY exchange rate higher during the following trading session.

However, the 200– hour SMA at 129.27 could provide resistance for the currency exchange rate within this session.