Author: FX Tech Strategy

GBPUSD: The pair is now seen on the offensive with eyes on the 1.5774/78 levels. GBP will have to decisively break and hold above that zone to prevent a return to the 1.5457 level from occurring. Above the 1.5774/78 levels will...

USDCAD: Having continued to hold on to its broader bearishness, the risk is for further declines to occur. This should see the pair target the 0.9802/0.9798 levels where a break will resume its broader medium term downtrend...

GBPUSD: With GBP closing slightly lower the past week and remaining vulnerable to the downside, risk is building up for more declines. As long as the 1.5774/78 levels cap, the broader risk remains lower. This could see the pair...

EURUSD: Unless EUR climbs back above the 1.2442 level, there is likelihood of a return to the 1.2239 level. A break of here will set the stage for further declines towards the 1.2132 level where a violation will aim at the...

GBPJPY – With continued corrective offensive pushing the cross above the 124.01 level the past week , the risk of further recovery is developing towards the 125.81 level, representing its Jun 21’2012 high. A decisive...

GBPUSD: We continue to hold our downside view on GBP. While it holds below the 1.5774/78 levels, the broader risk is for an eventual return to the 1.5457 level. A breach will set the stage for a move lower towards the 1.5391...

EURJPY- With further corrective recovery seeing the cross climb back above the 97.80 level, the risk is for more upside risk to develop. Further upside should build up towards the 98.31 level where a breach will target the 99.07...

USDCAD: Having continued to weaken, further declines are likely towards he 0.9826 level. On further price extension, the 0.9800 level will be aimed at with a violation of there allowing for a move lower towards the 0.9700 level,...

USDJPY: Directional moves have been triggered following the pair’s break and hold the 78.66/79.39 levels on Wednesday. The risk is for it to retarget the 80.59 level on continued recovery. If this occurs, expect further...