Today's Technicals

 

Shaun Lee

EUR/USD Forecast
 
GBP/AUD Forecast
GBP/JPY Forecast

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EURUSD:- Stops should have been moved to break even since Sunday/ Mondays entry points. Price has twice rejected 1.17500 with yesterdays candlestick reacting very bullish from this area. If the price was to reverse form this level and go to the upside we would be revisiting the previous highs and then going on to 1.19250.  

 

GBPAUD:- Price has slowed down and stalled around the key level of 1.6800 as to be expected from past price formation. If this level can be breached targets would be achieved at 1.6750. However, we should be prepared to see price now react from this level with retail sales being released at 09:30 am this morning. 

 

GBPJPY:- This pair has the potential to completely reverse from its bearish bias with Wednesday candlestick engulfing the previous 6 days of price actions with a 115+ pip candle stick closure to the upside. This bullish reversal may, in fact, lead price back towards the critical zone of resistance at 150.000. However, 149.000 region has caused difficulty previously and may cause an area of resistance. 


 
 

Aman Natt

GBP/USD Forecast
 
USD/CAD Forecast
EUR/GBP Forecast

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USD/CAD
Hits its 15th day within its consolidation period, this sideways movement in price keeps us close to the 1.25000 major key level. Yesterday we had a possible break to the upside, however by the end of the US session we had a peak at previous highs. At the 1.25900 level, we saw a sharp rejection and proceeded to fall back and eventually crossing once more to the downside of 1.25000. We now watch this price closely for extra confirmation before assuming this pairs next move.

GBP/USD
With a lot of pressure on GBP, we had a small rise in price yesterday evening. Creating lows of 1.31600 showing signs of a slow down in the market. Within two hours we have GBP retail sales, this could be an essential indication of this pairs future. Following in the afternoon we also have US unemployment claims, my bias on GBP/USD remains longterm bullish. However we can expect a storm before we find our way.


 
 

Quillan Black

USD/JPY Forecast
 
USD/CHF Forecast
NZD/USD Forecast

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USDJPY: moves played out perfectly from our analysis yesterday. As it consolidates around the 23.6% Fibonacci it could possibly make another push breaking 113.100. Things are looking up for UJ it maintains beyond 112.930. 

USDCHF: having found support at 0.97920 making a new high low area. Moving averages widens building up the buyers momentum. We’re looking for the area of 0.98320 to be broken as the weekly candle continues to build its bullish momentum. 

NZDUSD: area broke support at 0.71714 and had a nice cross of the moving averages. This allowed the market to flow with the momentum of the downtrend, then dropping over 80 Pips. Potential opportunities to makes new lows are possible beyond 0.70589. 


 
 

Jon Dollery

AUD/USD Forecast
 
EUR/JPY Forecast
AUD/JPY Forecast

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AUDUSD:- We have now seen a nice double wick rejection of 0.78200. This zone has seen price dip into it, only to be rejected and cause daily indecision candlesticks. I do favour a bullish run on this pair after last weeks strong weekly closure. 0.79250 remains upside targets if we can rally from the current price. On a smaller timeframe, we could consider AudUsd to be creating a reversal pattern. 

 

EURJPY:- 132.000 proved to be the impenetrable barrier of support that price was unable to break below. After 9 attempts to spike and breakthrough, we saw a 100+ candle stick closure yesterday whipping out most short orders. Having essentially broken out of the highlighted pink zone I can only suggest that bullish momentum is to be expected after such a strong daily closure. 

 

AUDJPY:- We had to be patient but i provided the set up for you as price needed to break the c.t.l for an entry and that's exactly what happened. We saw price break on the lower timeframe and rally 60+ pips off the monthly key level of 88.000. Further upside is now expected.