1 Attachment(s)
FXOpen Technical Analysis
EUR/USD And USD/CHF Remain Supported On Dips
EUR/USD is trading nicely above the 1.1280 support and it could continue to move higher. USD/CHF is currently correcting lower, but it remains supported on dips near 1.0050.
Important Takeaways for EUR/USD and USD/CHF
- The Euro traded higher recently and tested the 1.1320 resistance area against the US Dollar.
- There is a major contracting triangle in place with resistance near 1.1305 on the hourly chart of EUR/USD.
- USD/CHF climbed higher recently above the 1.0000 and 1.0050 resistance levels.
- There is a crucial bullish trend line formed with support at 1.0050 on the hourly chart.
EUR/USD Technical Analysis
Attachment 15521
The Euro started a solid rebound after forming a support base above the 1.1200 and 1.1220 levels against the US Dollar. The EUR/USD pair climbed above the 1.1250 and 1.1280 resistance levels to move into a positive zone.
Continue on FXOpen blog
GBP/USD and USD/CAD Signaling More Upsides
GBP/USD is slowly recovering and it is currently trading above 1.2680. USD/CAD is likely to resume its upward move above the 1.3550 and 1.3580 resistance levels.
GBP/USD Technical Analysis
The British Pound declined heavily this past week and broke the key 1.2820 support area against the US Dollar. The GBP/USD pair extended losses below the 1.2750 and 1.2700 support levels.
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The pair even broke the 1.2650 support level and the 50 hourly simple moving average. It traded close to the 1.2600 support area and formed a swing low at 1.2605 on FXOpen.
Continue reading GBP/USD and USD/CAD technical analysis and important takeaways...
EUR/USD Under Pressure, and USD/CHF Approaching Key Support
EUR/USD struggled to stay above the 1.1200 level and recently declined below 1.1185. USD/CHF is currently correcting lower, but it seems to be approaching a key support near 1.0050.
EUR/USD Technical Analysis
The Euro started a strong rise from the 1.1107 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1155 and 1.1200 resistance levels. However, the bulls failed to keep the pair above the 1.1200 level.
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A swing high was formed at 1.1215 on FXOpen and the pair recently started a downside correction. It broke the 1.1200 and 1.1185 support levels to enter a short term bearish zone.
Continue reading EUR/USD and USD/CHF technical analysis and important takeaways...
GBP/USD and USD/CAD: US Dollar Showing Signs Of Weakness
GBP/USD gained pace this past week and recovered above the 1.2700 resistance. USD/CAD declined steadily below 1.3300, signaling short term US Dollar weakness.
GBP/USD Technical Analysis
The British Pound found support near 1.2550 and 1.2560 against the US Dollar, and started a fresh recovery this past week. The GBP/USD pair traded above the 1.2600 and 1.2650 resistance levels to move into a positive zone.
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The pair even broke the 1.2700 resistance and the 50 hourly simple moving average. The bulls gained momentum above 1.2720 and a new swing high was formed near 1.2762 on FXOpen.
Continue reading GBP/USD and USD/CAD technical analysis and important takeaways.
Gold Price and Crude Oil Price Rally Significantly
Gold price rallied sharply and broke the $1,350 and $1,400 resistance levels. Similarly, crude oil price gained bullish momentum and broke the $55.00 resistance area.
Gold Price Technical Analysis
Gold price formed a solid support base above $1,350 and recently rallied above $1,380 against the US Dollar. The price gained bullish momentum above $1,390 after the Fed indicated possibilities of a rate cut in the near future.
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The recent upward move was strong since the price even broke the $1,400 resistance area and settled above the 50 hourly simple moving average. It climbed towards the $1,415 level and a new monthly high was formed near $1,411 on FXOpen.
Read more about Gold and Crude Oil technical analysis and its important takeaways
EUR/USD Correcting Lower While USD/CHF Is Recovering
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.
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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...
Gold price and Crude Oil price could extend declines
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.
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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 and USD/CAD Showing Signs Of Weakness
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.
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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.
AUD/USD and NZD/USD Signaling Upside Continuation
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.
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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.
EUR/USD Correcting Losses, USD/JPY Remains In Uptrend
EUR/USD declined heavily and recently started an upside correction from the 1.1110 support area. USD/JPY is trading in a solid uptrend and it could continue to rise above 108.80 and 109.00.
EUR/USD Technical Analysis
The Euro declined heavily in the past few days below the 1.1265 and 1.1210 support levels against the US Dollar. The EUR/USD pair even broke the 1.1180 support level to enter a bearish zone.
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Moreover, there was a close below the 1.1180 level and the 50 hourly simple moving average. Finally, the pair traded below the 1.1120 level and a new monthly low was formed near 1.1101 on FXOpen.
Read more about EUR/USD and USD/JPY on FXOpen blog...
Gold price could bounce back while Crude Oil price is facing hurdle
Gold price climbed higher sharply from the $1,400 support area and is currently correcting lower. Conversely, crude oil price is under pressure and is facing hurdles.
Gold Price Technical Analysis
Earlier this week, gold price declined below the $1,420 support against the US Dollar. The price even broke the $1,412 support level and tested the $1,400 support, where the bulls took a stand.
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A swing low was formed near $1,400 on FXOpen and the price started a solid upward move. It broke many resistances near the $1,410 level. Moreover, there was a break above a short term declining channel with resistance near $1,408 on the hourly chart of gold.
Read more about Gold and Oil Price on FXOpen blog.
GBP/USD could recover, USD/CAD remains supported
GBP/USD declined heavily this past week below the 1.2250 support area. USD/CAD is climbing higher and remains well supported above the 1.3200 level.
GBP/USD Technical Analysis
The British Pound started a strong decline from well above the 1.2400 level against the US Dollar. The GBP/USD pair broke the 1.2350 and 1.2250 support levels to enter a bearish zone.
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The decline was such that the pair even broke the 1.2200 support level and settled well below the 50 hourly simple moving average. A swing low was formed near the 1.2079 level on FXOpen and the pair is currently correcting higher.
Read more on FXOpen blog...
EUR/USD Climbing Higher While USD/CHF Is Facing Hurdles
EUR/USD started a solid recovery from the 1.1040 area and climbed above 1.1150. Conversely, USD/CHF declined heavily and settled below the key 0.9800 support area.
EUR/USD Technical Analysis
This past week, the Euro declined heavily below the 1.1120 and 1.1100 support levels against the US Dollar. The EUR/USD pair tested the 1.1040 support area and recently started a solid recovery.
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It broke the 1.1100 and 1.1120 resistance levels. Moreover, there was a break above the 1.1150 resistance and the 50 hourly simple moving average. Finally, the pair traded above the 1.1200 resistance and formed a swing high near 1.1249 on FXOpen.
Read more about EUR/USD and USD/CHF...