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GOLD Declines On Price Failure

GOLD: GOLD took back almost all of its previous week losses the past week to close lower on Friday. This development leaves risk lower with more weakness envisaged. However, a recovery in the new week may occur. On the downside, support comes in at the 1,115.00 level where a break will aim at the 1,100.00 level. A cut through here will open the

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EURUSD Bias Remains To The Downside

EURUSD: EUR lost its upside momentum to close lower the past week leaving further downside pressure on the cards in the new week. However, note that a consolidation with a pullback higher may occur. Support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level with a turn below

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EURCHF Remains Weak And Vulnerable

EURCHF: Having taken back its gains to close lower the past week, further weakness is envisaged in the new week. Support lies at the 1.0700 level where a break will aim at the 1.0650 level and then the 1.0600 level. Its weekly RSI has turned lower suggesting further downside pressure. Conversely, resistance resides at the 1.0800 level where a break will aim at

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USDCHF: Bull Pressure Opens Up Further Strength

USDCHF: The pair closed higher off its low at the 0.9257 level to open the door for more strength in the new week. On the upside, resistance resides at the 0.9700 level with a breach targeting the 0.9798 level. A respite may occur here and turn the pair lower but if taken out, expect a push further higher towards the 0.9800 level. Its

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EURJPY Halts Weakness, Eyes More Recovery

EURJPY: The pair recovered on Thursday and followed through on Friday though marginally to put in a temporary bottom. This development could suggest a move further higher on more recovery as we enter a new week. In such a case, support comes in at the 135.50 level where a break will aim at the 135.00 level. A turn below here will target the

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USDCAD Halts Weakness, Risk Turns To The 1.3352 Level

USDCAD: With USDCAD seen halting its corrective weakness and turning higher during Friday trading session today, risk of more strength is likely. This development leaves the pair targeting its key year-to-date resistance located at 1.3352 level. Further out, resistance resides at the 1.3400 level where a break will target the 1.3450 level. Above here will expose the 1.3500 level where a turn lower

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GBPJPY Looks To Build On Its Recovery

GBPJPY: GBPJPY has halted its weakness to close higher on Thursday, leaving eyes on further upside. On the downside, support comes in at the 186.00 level where a violation will aim at the 185.00 level. A break below here will target the 184.00 level followed by the 183.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the upside,

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EURUSD Weakens Further, Targets Key Support

EURUSD: EUR declined sharply on Wednesday and was seen weakening further during Thursday trading today. This development leaves the pair targeting its key support located at the 1.1128 level. Immediate support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level with a turn below that level targeting the

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