From Forex May 21
With GBPJPY continuing to hold on to its broader upside, we look for it to strengthen further in the days ahead. This will leave it targeting the 157.00 level where a violation will aim at the 159.00 level and then the 163.05 level. Its daily RSI is bullish and pointing higher supporting this view. O the downside, in case of any pullback, the 150.
From Forex May 20
Support lies at the 1.2800 level and next the 1.2750/35 levels, its key support levels. Further down, support comes in at the 1.2600 level. Its weekly RSI is bearish and pointing lower supporting this view.
From Forex May 17
The Euro slipped to 1.2830 as European Central Bank (ECB) board member Benoit Coeure reiterated that the Governing Council is 'exploring options to further strengthen lending to the real economy and, in particular, to small and medium-sized enterprises,' and it seems as though the central ...
From Forex May 16
Consolidation: After breaking above a near-term flag consolidation, the USD/JPY broke above last week's high of 102.14 and reached a high of 102.75 today before stalling. By the end of the 5/15 global session, the pair has show bit of expansion and then contraction in volatility, but is still above the 102.00 handle. It has set up a near-term consolidation range between 101.83 and 102.75.
From Forex May 16
Our outlook on USDJPY remains to the upside with a recapture of the 103.00 level on the cards. Further out, resistance resides at the 103.50 level followed by the 104.00 level. Its daily RSI is bullish and pointing higher supporting further upside. On the downside, initial support lies at the 101.25 level where a breach will create scope for more downside towards the 99.93 level.
From Forex May 15
EUR/AUD has been rallying since the end of March and has been in somewhat of a rising channel. Some key developments here are: 1) Moving averages are in bullish alignment 2) The RSI has held above 40 and tagged 70 many times, reflecting persistent bullish momentum in this time-frame. 3) Rally has broken a projected Trendline from Jan-Feb highs.
From Forex May 15
The Euro slid to a fresh monthly low of 1.2874 as the region's 1Q GDP report showed the growth rate contracting 0.3% versus forecasts for a 0.1% decline, and the prolonged recession may continue to drag on the exchange rate as it fuels speculation for additional monetary support.
From Forex May 15
With EUR taking out its support at the 1.2955 level to close lower on Tuesday and extending that weakness during early trading today, more decline is expected. Further down, support lies at the 1.2850 level followed by the 1.2750/35 levels, its key support levels. A cut through here will extend its bearishness towards the 1.6.50 level.
From Forex May 14
Bullish: The 1H EUR/JPY chart shows a market that is bullish. The market has made higher lows and higher highs. The moving averages are upsloping with price above the 200-hour SMA. The RSI has tagged 70 and has held above 40 so far.
From Forex May 13
BETA Update! Thanks to everyone for the tremendous feedback you've given us over the past week! We are extending beta testing into this week as we are still fine-tuning the false break alert detection to match exactly with the current SwingPRO signals. So, to be clear, we will continue to follow the SwingPRO signals/alerts - not the beta alerts - just to be on the safe side.
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