Author: Forex Live

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0406; (P) 1.0471 (R1) 1.0506; More… EUR/USD is still staying above 1.0339/58 support zone with today’s decline. Intraday bias stays neutral first. Further fall is in favor with 1.0614 minor resistance intact. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at […]

ETHUSD Bounces off 18-Month Low But Downside Risks Linger

ETHUSD (Ethereum) has experienced a sharp sell-off since early June, generating a fresh 18-month low of 879. Although the cryptocurrency managed to partially rebound and recoup some of its losses, downside pressures have re-emerged.The momentum indicators are suggesting that bearish forces are in control. Specifically, the RSI is descending very close to the oversold zone, while the […]

GBP/JPY Daily Outlook

Daily Pivots: (S1) 165.23; (P) 165.79; (R1) 166.17; More… Outlook in GBP/JPY is unchanged and intraday bias stays neutral for the moment. On the upside, decisive break of 168.67 resistance will resume larger up trend. Next near term target is 100% projection of 155.57 to 168.67 from 159.97 at 173.07. On the downside, below 164.45 […]

Daily Technical Analysis

EUR/USD The common European currency lost quite a bit of ground against the dollar and the pair breached the zone at 1.0467. At the time of writing the analysis, the pair is trading just below the level at 1.0467. If the bearish attack continues, then a test of the major support at 1.0396 would be […]

AUDUSD on the Verge of a Downtrend Resumption

AUDUSD has completely reversed its mid-June bullish move to trade at the bottom of its broad downtrend and marginally above the familiar support zone of 0.6850. The falling simple moving averages (SMAs) are signaling a continuation of the long-term negative trend after a short period of consolidation, though the momentum indicators are rather directionless, with […]

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9544; (P) 0.9565; (R1) 0.9597; More… Intraday bias in USD/CHF stays neutral as it continues to lose downside momentum as seen in 4 hour MACD. Fall from 1.0048 is still seen as the third leg of the consolidation pattern from 1.0063. Strong support should be seen around 0.9543 to bring rebound. On […]

Technical Outlook and Review

DXY: On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices to 1st resistance at 105.794 where the swing high resistance and 161.8% fibonacci extension are. Once we have upside confirmation, we would expect bullish momentum to […]