Topic: Technical Analysis by FXOpen

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
https://blog.fxopen.com/wp-content/uploads/2019/04/EURUSD-Chart-2-1024x479.png
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.

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GBP/USD and EUR/GBP: Can British Pound Bounce Back?

GBP/USD declined heavily and broke the 1.3050 support area. EUR/GBP is currently correcting lower, but it is still trading above a crucial support at 0.8640.

GBP/USD Technical Analysis

The British Pound struggled to stay above the 1.3120 and 1.3100 levels against the US Dollar. The GBP/USD pair started a downward move and broke the 1.3050 and 1.3020 support levels.

https://blog.fxopen.com/wp-content/uploads/2019/04/GBPUSD-Chart-3-1024x479.png

The pair even broke the 1.3000 support and settled below the 50 hourly simple moving average. It traded as low as 1.2978 on FXOpen, and recently started consolidating losses. It moved above the 1.2990 level and the 23.6% fib retracement level of the recent decline from the 1.3052 high to 1.2978 low.

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[size=4]AUD/USD and NZD/USD could rebound futher[/size]

AUD/USD found a strong support near the 0.6960 level and recovered recently. NZD/USD is trading nicely and it could recover towards the 0.6650 level in the near term.

[size=4]AUD/USD Technical Analysis[/size]

After a strong decline, the Aussie Dollar found support near the 0.6960 area against the US Dollar. The AUD/USD pair started a strong upward move and traded above the 0.6985 and 0.6700 resistance levels.

https://blog.fxopen.com/wp-content/uploads/2019/05/AUDUSD-Chart.png

The hourly chart suggests that the pair traded as low as 0.6964 on FXOpen and recently climbed sharply above the 0.7000 level and the 50 hourly simple moving average.

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GBP/USD and USD/CAD Facing Crucial Hurdles

GBP/USD declined recently below the 1.3080 and 1.3050 support levels. USD/CAD tested the 1.3380 level and recently started a fresh increase above the 1.3410 level.

GBP/USD Technical Analysis

The British Pound started a fresh decline after it failed to break the 1.3180 resistance area against the US Dollar. The GBP/USD pair traded below the 1.3120 and 1.3080 support levels to move into a bearish zone.

https://blog.fxopen.com/wp-content/uploads/2019/05/GBPUSD-Chart-1-1024x479.png

The pair even broke the 1.3050 support level and the 50 hourly simple moving average. Finally, there was a spike below the 1.3000 support area and the pair traded as low as 1.2967 on FXOpen.

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EUR/USD and USD/CHF Remains At Risk Of More Loss

EUR/USD failed to stay above the 1.1260 level and recently declined below 1.1220. USD/CHF declined heavily towards 1.0050 and it is currently correcting towards key resistances.

EUR/USD Technical Analysis

The Euro formed a decent support near the 1.1170 and 1.1175 levels against the US Dollar. The EUR/USD pair traded higher above the 1.1240 level, but it struggled to hold gains above the 1.1260 level.

https://blog.fxopen.com/wp-content/uploads/2019/05/EURUSD-Chart-2-1024x479.png

A swing high was formed at 1.1263 on FXOpen and the pair recently started a downside correction. It broke the 1.1240 and 1.1220 levels to enter a bearish zone.

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[size=4]Gold price could decline further while Crude Oil is rising [/size]

Gold price failed to break the $1,302 and $1,304 resistances, and recently declined below $1,292. Crude oil price is gaining momentum and it could trade above the $63.80 resistance.

[size=4]Gold Price Technical Analysis[/size]

Gold price started a decent recovery earlier this week from the $1,280 and $1,282 support levels against the US Dollar. The price surged above the $1,290 resistance level and climbed above the $1,300 level.

https://blog.fxopen.com/wp-content/uploads/2019/05/Gold-Price-Chart-1-1024x479.png

The price traded as high as $1,303 on FXOpen and later declined. It seems like the price struggled to stay above the $1,300 and $1,302 levels. As a result, there was a sharp decline below the $1,295 and $1,290 support levels.

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GBP/USD and EUR/GBP: British Pound Sell-Off Continues

GBP/USD declined heavily below the 1.2900 and 1.2800 support levels to enter a bearish zone. EUR/GBP surged higher and settled above the 0.8680 and 0.8700 resistance levels.

GBP/USD Technical Analysis

The British Pound started a significant downward move from well above the 1.3000 level against the US Dollar. The GBP/USD pair declined below a few important supports such as 1.2950 and 1.2900.

https://blog.fxopen.com/wp-content/uploads/2019/05/GBPUSD-Chart-2-1024x479.png

The pair even broke the 1.2800 support and settled below the 50 hourly simple moving average. The decline was such that the pair traded close to the 1.2700 level and a new monthly low was formed near 1.2711 on FXOpen.

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EUR/USD declining while USD/JPY gathering momentum

EUR/USD started a strong downward move from well above the 1.1250 level. USD/JPY is currently moving higher and it could continue to rise towards the 110.80 level.

EUR/USD Technical Analysis

The Euro started a strong downward move after it failed to gain pace above 1.1260 against the US Dollar. The EUR/USD pair declined heavily and broke many supports such as 1.1240, 1.1220 and 1.1200.

https://blog.fxopen.com/wp-content/uploads/2019/05/USDJPY-Chart-1-1024x431.png

The pair even broke the 1.1180 support level and the 50 hourly simple moving average. It traded as low as 1.1141 on FXOpen and started an upside correction. It moved above the 1.1160 level and the 23.6% Fib retracement level of the recent decline from the 1.1223 high to 1.1141 low.

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EUR/JPY and GBP/JPY: Downtrend Remains Intact

The Euro and British Pound started a strong decline against the Japanese Yen. EUR/JPY is facing resistance near 122.65 and GBP/JPY could struggle to clear 139.20.

EUR/JPY Technical Analysis

After trading as high as 123.73, the Euro started a major decline against the Japanese Yen. The EUR/JPY pair broke many important supports such as 123.50, 123.20 and 122.65 to move into a bearish zone.

https://blog.fxopen.com/wp-content/uploads/2019/05/EURJPY-Chart-1024x479.png

The pair even settled below the 122.65 support and the 50 hourly simple moving average. A new weekly low was formed at 122.14 on FXOpen and the pair recently started an upside correction.

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10 (edited by FXOpen Official 2019-05-27 08:48:26)

Re: Technical Analysis by FXOpen

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.

https://blog.fxopen.com/wp-content/uploads/2019/05/GBPUSD-Chart-3-1024x479.png

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.

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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.

https://blog.fxopen.com/wp-content/uploads/2019/05/EURUSD-Chart-4-1024x479.png

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.

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Gold Price Climbing While Crude Oil Price Is Declining

Gold price started a decent upward move after forming a support base near $1,274. Crude oil price declined heavily and it remains at a risk of more losses below $55.00

Gold Price Technical Analysis

Gold price found support near the $1,270 level and recently started an upward move against the US Dollar. The price settled above the $1,274 pivot level and extended gains above the $1,280 level.

https://blog.fxopen.com/wp-content/uploads/2019/05/Gold-Price-Chart-2-1024x479.png

The recent rise was positive above the $1,285 and $1,290 resistance levels. Moreover, there was a close above the $1,285 level and the 50 hourly simple moving average.

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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.

https://blog.fxopen.com/wp-content/uploads/2019/06/GBPUSD-Chart-1-1024x431.png

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.

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EUR/USD gaining momentum while USD/CHF is recovering

EUR/USD formed support near 1.1215 and climbed steadily in the past few days. USD/CHF is currently recovering from the 0.9859 swing low and it could correct further higher.

EUR/USD Technical Analysis

The Euro started a strong upward move from the 1.1150 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1180 and 1.1200 resistance levels. The pair even surged above the 1.1250 resistance area.

https://blog.fxopen.com/wp-content/uploads/2019/06/EURUSD-Chart-1-1024x431.png

The recent gains were positive, with a close above the 1.1300 level and the 50 hourly simple moving average. During the rise, there was a break above a couple of bullish patterns near 1.1255 and 1.1310 on the hourly chart of EUR/USD.

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15 (edited by FXOpen Official 2019-06-21 08:59:57)

Re: Technical Analysis by FXOpen

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.

https://blog.fxopen.com/wp-content/uploads/2019/06/Gold-Price-Chart-1-1024x479.png

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.

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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.

https://blog.fxopen.com/wp-content/uploads/2019/06/GBPUSD-Chart-3-1024x479.png

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.

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