EURAUD is testing its resistance at 1.5700 (61.8% & 100% Fibonacci extension, 50% & 38.2% & 61.8% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1.5597 (horizontal swing low support) could occur.
Stochastic (89, 5, 3) is approaching its resistance at 92% where a corresponding drop could occur.
GBPAUD is approaching its resistance at 1.7666 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where a reversal to its support at 1.7303 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support)could occur.
Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding...
AUDNZD is approaching its support at 1.0988 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price could potentially bounce to its resistance at 1.1162 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (21, 5, 3) is approaching its support at 6% where a corresponding bounce could occur.
USDJPY is approaching its support at 109.44 (76.4% Fibonacci retracement, 100% Fibonacci extension x2, horizontal swing low support) where it could potentially bounce up to its resistance at 111/40 (76.4% & 50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 6% where a corresponding bounce could occur.
CADCHF is approaching its support at 0.7532 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7639 (76.4% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.3162 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.3053 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
Weekly perspective:
Recording its fifth consecutive losing week, the price of gold eventually closed beneath support at 1214.4 last week. Though it is not what we’d consider a ‘decisive’ close, the possibility of further selling as far south as the 2017 yearly opening level at 1150.9 is there. Note there’s limited active demand to the left of current price...
Weekly perspective:
Another big loser on the week amid a mix of ongoing Brexit uncertainty, political upheaval and BoE policy perceptions as ‘no-deal’ prospects increased. Erasing in excess of 230 pips last week, cable eventually shook hands with demand located at 1.2589-1.2814. Having seen this area tested once already in August 2017, further selling could be...
AUDJPY is approaching its support at 81.35 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 82.60 (50% & 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching it’s support at 3.3% where a corresponding bounce could occur.
GBPAUD is approaching its support at 1.7274 (61.8% Fibonacci extension 50% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.7571 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 1.712% where a corresponding bounce could occur.
NZDJPY is approaching its support at 72.68 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 74.95 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 1.53% where a corresponding bounce could occur.
EURCHF is approaching its support at 1.1451 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.1548 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 5.4% where a corresponding bounce could occur.
For those who read Thursday’s briefing you may recall the team highlighted a possible H4 buy zone marked in green at 110.65/110.81. We liked this area for longs due its construction:
• July’s opening level at 110.65.
• H4 support at 110.76.
• 61.8% H4 Fib support at 110.81 (green line).
• Stop-loss orders below 111 will likely provide bigger players the liquidity...
EURUSD reversed off its resistance at 1.1626 (61.8% Fibonacci extension, 38.2%, 50% Fibonacci retracement, horizontal overlap resistance) where price could drop further to its support at 1.1533 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
USDJPY is approaching its support at 110.70 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 112.18 horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching it support at 7.9% where a corresponding bounce could occur.
CADJPY is approaching its support at 84.80 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing low support) where price could bounce to its resistance at 85.43 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
EURJPY is approaching its support at 127.77(100% Fibonacci extension x2, 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 130.20 (50% & 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.93% where a corresponding bounce...
On Wednesday, China’s Commerce Ministry announced it will slap 25% tariffs on USD 16bln worth of US imports, and will begin collecting these tariffs from August 23rd. China said the moves were necessary counter-measures to US tariffs. Demand for the safe-haven yen pulled the USD/JPY beneath the 111 handle in recent trade, consequently exposing a green H4 support...
