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Technical Outlook

Technical Outlook

Product Momentum Strength Support Resistance
EUR/USD
7/22/2015 10:34:58 AM
1hr bearish crossover 1.0850 1.0915
4hr neutral 1.0820 1.0965
Daily bearish crossover 1.0730 1.1060

Comments: EUR/USD may have created an intra-day double top reversal pattern around 1.0965. Still, for price to make a noticeable move lower, it will need to break the key 1.0820/50 area (April low & 61.8% Fibo of upswing from March).

 

Product Momentum Strength Support Resistance
GBP/USD
7/22/2015 10:50:19 AM
1hr bullish crossover 1.5555 1.5630
4hr potential bullish crossover 1.5500 1.5675
Daily neutral 1.5330 1.5815

Comments: GBPUSD holding below the underside of broken bullish trend line at 1.5675 and also the 50% retracement of recent downswing at 1.5630. Thus, what happens next will depend on what the Cable does here. So while a break above this are would be bullish, there is a possibility for a ST pullback from here as USD strengthens across the board. That being said, the GBP is looking strong against other currencies, so it may even outperform USD as it is rising from a relatively lower base.

Product Momentum Strength Support Resistance
USD/JPY
7/16/2015 7:34:00 AM
1hr overbought 123.70 124.10
4hr bullish crossover 123.00 124.70
Daily bullish crossover 122.00 125.85

Comments: USDJPY has broken another important area of resistance at 123.70 and is currently at 124.00. The path of least resistance is clearly to the upside, possibly towards 78.6% Fibo  at 124.70 or June's high of 125.85

Product Momentum Strength Support Resistance
USD/CHF
7/16/2015 7:41:47 AM
1hr overbought 0.9540 0.9600
4hr bullish crossover 0.9500 0.9725
Daily bullish crossover 0.9400 1.0000

Comment: USDCHF has finally broken then 0.9500-0.9530 resistance area. It has thus paved the way for a potential move to the 61.8% Fibonacci retracement level at 0.9725 and possibly even higher. Break back below 0.9500 would invalidate this bullish scenario.

Product Momentum Strength Support Resistance
AUD/USD
7/16/2015 8:04:38 AM
1hr bullish crossover 0.7360 0.7435
4hr bearish crossover 0.7295 0.7530
Daily bearish crossover 0.7195 0.7600

Comments: AUDUSD has had limited follow-through in selling pressure after formiing a large bearish engulfing candle on daily on Wednesday. Still, the path of least resistance remains to the downside, potentially towards the long-term 61.8% Fibo at 0.7195

Product Momentum Strength Support Resistance
USD/CAD
7/16/2015 8:02:24 AM
1hr bearish crossover 1.2665 1.2955
4hr bullish crossover 1.2560 1.3000
Daily bullish crossover 1.2500 1.3085

Comments: USD/CAD bulls have 1.30 in sight affter the BOC's somewhat surprise rate cut on Wednesday. Bias bullish above prior resistance at 1.2835 - a key level of support now.

Product Momentum Strength Support Resistance
EUR/JPY
6/15/2015 2:08:32 AM
1hr neutral 138.00 138.60
4hr neutral 137.40 139.80
Daily bearish MACD cross 136.15 141.00

Comments: This pair stalled out above 140.00 and is heading lower. Bias lower in LT if 200-day SMA is broken

Product Momentum Strength Support Resistance
NZD/USD
6/15/2015 2:10:59 AM
1hr bearish cross in MACD 0.6945 0.7000
4hr bearish 0.6900 0.7050
Daily neutral 0.6800 0.7240

Comments: The RBNZ has destroyed the kiwi lately; bias remains lower below 0.7000

Product Momentum Strength Support Resistance
EUR/GBP
6/15/2015 2:13:28 AM
1hr neutral 0.7200 0.7255
4hr neutral 0.7150 0.7315
Daily possible bearish cross in MACD 0.7055 0.7400

Comments: This pair is between a rock (0.7200) and a hard place (0.7400). Waiting for a break

Product Momentum Strength Support Resistance
AUD/JPY
6/15/2015 2:16:02 AM
1hr neutral 94.65 95.85
4hr neutral 93.60 96.15
Daily neutral 92.00 97.00

Comments: This pair remains in an upward trend; bias lower below 0.9500

Product Momentum Strength Support Resistance
GBP/JPY
6/15/2015 2:17:54 AM
1hr neutral 191.30 191.95
4hr neutral 190.40 192.30
Daily bearish cross in MACD 189.00 193.00

Comments: Remains in a LT upward trend. Bias higher in this trend.

Product Momentum Strength Support Resistance
CAD/JPY
6/15/2015 2:19:28 AM
1hr neutral 99.50 100.55
4hr neutral 99.00 101.55
Daily neutral 98.35 102.00

Comments: This pair has broken 100.00 but it was rejected around 101.00. Bias lower if support around 100 is broken

Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

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