EUR/USD Trading around 1.2000
EUR/USD is now trading around 1.20. The pair lies in a bullish short-term momentum. Strong resistance is given at 1.2092 (08/09/2017 high) while hourly support can be found at 1.1980 (intraday low). Stronger support is given a distance at 1.1718 (12/12/2017 low). Expected to show continued increase.
In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).
GBP/USD ready for another leg higher
GBP/USD's buying pressures are still lively. The pair has exited downtrend short-term channel. The technical structure indicates further potential upside. Support is given at a distance at 1.3304 (15/12/2017 low) while hourly resistance can be found at 1.3613 (03/01/2017 high). The long-term technical pattern is reversing.
The Brexit vote had paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance given around 1.35 is at stake and indicates a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.
USD/JPY Pushing higher
USD/JPY's buying demand is increasing and the pair is approaching hourly resistance given at 113.75 (12/12/2017 high) while hourly support is given at 111.99 (15/12/2017 low). The technical structure suggests continued increase.
We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).
USD/CHF Short-squeeze
USD/CHF is trading slightly higher. Yet, the technical structure indicates that further weakness are possible. Expected to show further short-term downside moves.
In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.
USD/CAD Continued decline
USD/CAD is skewed to the downside after the pair failed to break hourly resistance at 1.2917 (27/10/2017 high). The pair keeps on heading lower.
In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.
AUD/USD Riding higher
AUD/USD's upside pressures are growing. Hourly resistance given at a distance at 0.7897 (13/10/2017 high). Support stands at 0.7638 (15/12/2017 low). The road is wide open for further upside.
In the long-term, the trend is turning positive. Key supports stands at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.
EUR/GBP Sideways price action
EUR/GBP is trading mixed. The pair is trading between support at 0.8689 (08/12/2017 low) and resistance is located at 0.9046 (14/09/2017 high). Expected to show further sideways trading.
In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).
EUR/CHF Slow increase
EUR/CHF is trading slightly higher. Hourly resistance is given at 1.1778 (25/12/2017 high). Expected to show continued short-term increase.
In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).
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