Author: FX Tech Strategy

EURGBP- With a reversal of its Friday weakness seen on Monday and a follow through higher cutting through the 0.8735/38 levels, risk of continued upside recovery is likely. This development leaves the cross targeting its Sept...

EURJPY- Having reversed its Friday losses to close strongly higher on Monday, the risk is for the cross to convincingly break the 104.95 level, its Sept 27’2011 high. Once this occurs, further recovery strength will...

USDCHF: Loses Upside Momentum, Declines On Correction.USDCHF: The pair has given back its last week gains and could be heading further lower towards the 0.8928/18 zone. This area is a key support zone and its break could mean...

GBPJPY — Having turned ahead of its 2011 low at 116.78 level to print a hammer candle on Oct 06’2011, GBPJPY has triggered a corrective recover which is now into its second day. This development has set...

USDJPY: The pair remains trapped between the 77.85 and 75.92 levels as it continues to consolidate. With its preceding trend down in the long term, we look for the pair to eventually break out its consolidation range to the...

AUDUSD: The pair remains on the offensive following through higher on the back of its past week gains in today’s trading session and opening the door for further strength towards its key resistance. The immediate barriers...

GBPUSD: While the 1.5326 level may have held and turned the pair back up to close the week marginally lower, GBP’s medium term downside risk is not over yet. This leaves a return to the 1.5326 level and the 1.5270 level,...

EURUSD: The pair has halted its weakness following a failed test of the 1.3144 level the past week. With a high wave candle pattern now in place, risk of a recovery higher in the new week is a possibility. In such a case, its...

GBPJPY – Although GBPJPY turned ahead of its 2011 low at 116.78 level on Thursday and followed through higher on Friday, it still closed lower suggesting further downside vulnerability. The cross could force further...