Thread: FXOpen Technical Analysis

GBP/USD And USD/CAD: US Dollar Could Slide Further

GBP/USD started a fresh increase and traded above the 1.2700 resistance area. Conversely, USD/CAD declined heavily and broke the 1.3200 support area to enter a bearish zone.

GBP/USD Technical Analysis

The British Pound found support near 1.2500 and 1.2510 against the US Dollar, and recently started a fresh increase this past week. The GBP/USD pair broke the 1.2550 and 1.2600 resistance levels to move into a positive zone.

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The recent upward move was positive since there was a close above the 1.2650 level and the 50 hourly simple moving average. The pair even broke the 1.2700 level and recently traded close to the 1.2750 level on FXOpen.

Read more about USD/CAD and GBP/USD and its important takeaways...

EUR/USD gained momentum and traded towards the 1.1410 level before correcting lower. USD/CHF declined close to the 0.9690 level and it is currently recovering.

EUR/USD Technical Analysis

The Euro started a steady rise after forming a support base near the 1.1190 level against the US Dollar. The EUR/USD pair climbed above the 1.1240 and 1.1280 resistance levels. The pair even gained momentum above the 1.1350 resistance area.



Finally, the pair surged above the 1.1380 level and the 50 hourly simple moving average. It traded to a new monthly high at 1.1412 on FXOpen and recently started a downside correction.

Read EUR/USD and USD/CHF technical analysis and its important takeaways on FXOpen blog...

GBP/USD and EUR/GBP: British Pound Could Gain Traction


GBP/USD settled above the key 1.2650 and 1.2660 support levels, with a positive bias. EUR/GBP started a major downside correction and broke a major support near 0.8960.


GBP/USD Technical Analysis


The British Pound started a decent upward move after it broke the 1.2600 resistance area against the US Dollar. As a result, the GBP/USD pair gained momentum above the 1.2620 and 1.2640 levels.





Moreover, there was a close above the key 1.2660 pivot level and the 50 hourly simple moving average. It traded towards the 1.2780 level on FXOpen and recently started a downside correction.


Read GBP/USD and EUR/GBP Technical Analysis and its Important Takeaways...

Gold price climbed higher once again, but it failed to surpass the $1,437 resistance area. Crude oil price is currently correcting higher, but it is facing a lot of hurdles on the upside.

Gold Price Technical Analysis
Gold price gained traction this week and climbed above the $1,410 and $1,420 resistance levels against the US Dollar. The price even broke the $1,430 resistance level, but it struggled to climb further higher.



A swing high was formed near $1,437 on FXOpen and the price recently started a downside correction. It broke the $1,425 and $1,420 support levels. It tested the $1,410 level and it is currently recovering higher.

Read Gold and Oil technical analysis and its important takeaways on FXOpen blog...

GBP/USD started a major decline after it failed to surpass the 1.2750 resistance area. USD/CAD is also trading in a bearish zone and it could struggled to climb above 1.3120.

GBP/USD Technical Analysis

The British Pound failed to extend gains above 1.2740 this past week against the US Dollar. As a result, the GBP/USD pair started a major decline and broke the 1.2680 and 1.2640 support levels to move into a bearish zone.




The recent decline gained pace below the 1.2600 level and the 50 hourly simple moving average. The pair even broke the 1.2500 level and recently traded close to the 1.2480 level on FXOpen.

Read on FXOpen blog GBP/USD and USD/CAD Technical analysis and its Important Takeaways.

EUR/USD bleeding while USD/CHF is climbing to parity


EUR/USD started a major decline and broke the key 1.1280 and 1.1220 support levels. Conversely, USD/CHF climbed higher and it seems like it could soon test 1.0000.


EUR/USD Technical Analysis


The Euro failed to stay above the 1.1350 level and later struggled to clear the 1.1310 resistance against the US Dollar. The EUR/USD pair started a major decline and broke the 1.1320 and 1.1280 support levels to enter a bearish zone.





During the decline, the pair even broke the 1.1250 pivot level. Finally, there was a close below the 1.1220 level and the 50 hourly simple moving average. The pair traded as low as 1.1193 on FXOpen and it is currently consolidating losses.


Find EUR/USD and USD/CHF Technical Analysis and its Important Takeaways on FXOpen blog.

AUD/USD found support above the 0.6900 level and recently climbed above 0.6950. Similarly, there were decent gains in NZD/USD above the 0.6600 and 0.6640 resistance levels.

AUD/USD Technical Analysis

In the past few days, the Aussie Dollar declined steadily below 0.7000 against the US Dollar. The AUD/USD pair broke the 0.6950 support level before it found support above the 0.6900 level.



A swing low was formed near 0.6910 on FXOpen and the pair recently started a decent recovery. It broke the 0.6920 and 0.6925 resistance levels to start the recent recovery. Later, there was a close above the 0.6950 resistance and the 50 hourly simple moving average.

Read AUD/USD and NZD/USD Technical Analysis and its Important Takeaways on FXOpen blog.

GBP/USD and EUR/GBP: British Pound remains supported


GBP/USD gained traction and climbed above the 1.2500 and 1.2550 resistance levels. EUR/GBP declined below 0.8980 and it seems like it could continue to correct lower.


GBP/USD Technical Analysis
The British Pound formed a strong support base near the 1.2450 this past week against the US Dollar. As a result, the GBP/USD pair started a decent upward move and broke the key 1.2500 resistance level.





It gained traction above the 1.2520 pivot level and settled above the 50 hourly simple moving average. Finally, there was a break above the 1.2550 level and the pair traded close to the 1.2580 level.


Find GBP/USD and EUR/GBP Technical Analysis and its Important Takeaways on FXOpen blog...

EUR/USD and USD/JPY Facing Major Hurdles


EUR/USD started a major drop from the 1.1285 resistance zone. USD/JPY is currently trading above 108.00 and it is facing a lot of hurdles near the 108.30 and 108.50 levels.


EUR/USD Technical Analysis


The Euro failed to continue above the 1.1285 level and formed a double top against the US Dollar. The EUR/USD pair formed a swing high near the 1.1283 and recently started a significant decline.





The pair came under a lot of pressure below 1.1250 and the 50 hourly simple moving average. There was a break below a major bullish trend line with support near 1.1250 on the hourly chart of EUR/USD.


Read EUR/USD and USD/JPY Technical Analysis and its Important Takeaways on FXOpen blog...

Gold price rising while Crude Oil price struggling to recover


Gold price remained in a positive zone and traded above the $1,420 and $1,430 resistance levels. Crude oil price declined recently and tested the key $55.00 support area.


Gold Price Technical Analysis


Gold price formed a strong support above the $1,400 level and consolidated for a few sessions against the US Dollar. Finally, the price started a fresh increase and broke the $1,410 and $1,420 resistance levels.





The upward move was strong as the price even broke the key $1,430 resistance area and settled above the 50 hourly simple moving average. Finally, there was break above the $1,445 and $1,450 resistance levels.


Find Gold and Oil price Technical Analysis and its Important Takeaways on FXOpen blog...