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AUDUSD facing a strong trend line resistance

Daily analysis
AUDUSD opened the week at 0.7085 and touched a high of 0.7098. The pair then reversed directions and dropped to 0.7078, as support held firm at 0.7012. The pair closed the week at 0.7045. And the price of 0.7065 has been significant in the recent history of AUDUSD, and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 0.7115 level for risk with…
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AUDUSD facing a strong trend line resistance

Daily analysis
AUDCAD opened the week at 0.9847 and touched a high of 0.9874. The pair then reversed directions and dropped to 0.9896, as support held firm at 0.9812. The pair closed the week at 0.9756. And the price of 0.9744 has been significant in the recent history of AUDCAD , and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 0.9568 level for risk wi…
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USDCHF forming a bearish harmonic pattern

Weekly analysis
weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lines at the 1.0256 level with a breach pushing the pair further towards the 1.0278 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0245 level. All in all, the pair remains biased to the downside in the short term on correction.
Daily analysis

USDCHF is at an interesting level as we’re currently at the top end of what to me …
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USDJPY Loses upside momentum

Daily analysis
USDJPY printed a rejection to halt its upside offensive and close lower the past week. This price action has created downside risk as we enter a new week. On the downside, support comes in at the 121.45 level. A turn below here will open the door for more weakness targeting the 121.89 level and followed by the 121.65 level. A cut through here will bring additional weakness towards the 121.36 level.
Weekly analysis

USDJPY opened the week at 121.74 and touched a high of 121.85. The …
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AUD/CAD Loses upside momentum

Daily analysis
Since 8 weeks, there is an uptrend rally at AUD/CAD. Without bigger correction, price gains more than a 800 pips. Today upward movement is continued and this year's top was broken above. AUD/CAD reached a 15 months high. Correction may begin at every moment, however it is likely that current movement will lead price to supports at 1.0130 or 1.0200. If one of that levels will cause rebound, nearest support is at 0.9970 level.

[u]Weekly analysis
[/u]Since November 11, AUD/CAD …
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GBP/USD forming a bearish harmonic pattern

Daily analysis
1.5269 was a cap in November. 1.5163 is the next resistance line. 1.5026 held firm as the pound was unable to make much headway last week. 1.4856 is an immediate support line. It has remained intact since April.
1.4752 is the next support level. 1.4601 was an important cap in December 2001. It is the final support line for now.
Weekly analysis
It is quite possible that the formation of the “bearish” correction, as the wave B of the senior level, has completed. At the moment, it i…
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Daily and weekly Long potential

Daily analysis
1.1875
was the low seen in 2010 and also capped the pair earlier this year. The August high of 1.1712 is the next line.
1.1680
capped the pair in January on its way down. The next line is a clear separator of ranges: 1.1535. It was last seen in January as well.The very round 1.15 level is of importance thanks to its psychological role. It is closely followed by 1.1460 that served as resistance earlier in the year.
weekly analysisThe historic line of 1.1373 from Novem
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AUDCAD weekly chart remains bearish.

Weekly chart remains BEARISH. Rally to 1.0783 ended wave ((w)) FLAT. A multi-month wave ((x)) pullback is now in progress to correct the rally from (b) low at 0.765 - ((w)) high at 1.0783 towards an ideal target of 0.833 - 0.8716.
Wave ((x)) pullback is unfolding in the form of a double corrective structure (w)-(x)-(y) where wave (w) ended at .9175, wave (x) ended at 1.035, and wave (y) is currently in progress towards 0.9096 - 0.933 to complete red wave w.. Once red wave w is complete, the pai…
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