Technical Analysis

Our ultimate goal is to deliver superior returns for our clients

EUR/USD
Previous Day Range High: 1.1310 Low: 1.1245 Close: 1.1291
Technical Chart Resistance
R-2: 1.1347
R-1: 1.1319
Support
S-1: 1.1254
S-2: 1.1217
Forecast
High: 1.1319
Low: 1.1254
EUR/USD dipped to 1.1249 earlier today but quickly recovered, with 4-hour MACD crossed above signal line again. Intraday bias turned neutral first. Further decline is still expected with 1.1341 minor resistance intact. We’d holding on to the view that consolidation from 1.1215 has completed. Below 1.1249 will target 1.1215 first. Break will resume larger down trend from 1.2555 to 1.1186 fibonacci level. However, considering bullish convergence condition in 4-hour MACD, break of 1.1341 resistance will dampen out view and suggest short term bottoming. Intraday bias will be turned back to the upside to extend the consolidation from 1.1215 with another rising leg.
USD/JPY
Previous Day Range High: 111.12 Low: 110.43 Close: 110.52
Technical Chart Resistance
R-2: 111.38
R-1: 110.95

Support
S-1: 110.26
S-2: 110.00

Forecast
High: 110.95
Low: 110.26
USD/JPY rose to 111.13 earlier today but retreated sharply since then. Intraday bias is turned neutral first. Focus remains on whether USD/JPY could sustain above 61.8% retracement of 114.54 to 104.69 at 110.77. If yes, further rise could be seen back to 114.54 resistance. However, break of 110.00 will suggest that it’s actually rejected after the rebound from 104.69 was skewed slightly upwards. In that case, the original bearish view will be revived and further fall should be seen through 108.49 support.
GBP/USD
Previous Day Range High: 1.2878 Low: 1.2770 Close: 1.2793
Technical Chart Resistance 
R-2: 1.2922
R-1: 1.2857
Support
S-1: 1.2749
S-2: 1.2706
Forecast
High: 1.2857
Low: 1.2749
GBP/USD’s fall from 1.3217 continues to as low as 1.2784 so far. Intraday bias remains on the downside for further decline. As noted, before, we’re holding on to the view that rebound from 1.2391 has completed at 1.3217 already, after rejection by 1.3174 key resistance. Further decline should be seen to retest 1.2391 low. On the upside, break of 1.2958 resistance is needed to be the first sign of short-term bottoming. Otherwise, further decline is expected even in case of recovery.
USD/CHF
Previous Day Range High: 1.0098 Low: 1.0041 Close: 1.0052
Technical Chart Resistance
R-2: 1.0121
R-1: 1.0086
Support
S-1: 1.0029
S-2: 1.0007
Forecast
High: 1.0086
Low: 1.0029
USD/CHF edged higher to 1.0098 but retreated sharply since then. Intraday bias is turned neutral again for some consolidations. For now, further rise is still expected as long as 0.9988 support holds. Above 1.0098 will target 1.0128 first. Break will confirm resumption of uptrend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. However, break of 0.9988 will indicate rejection by 1.0128 and turn intraday bias to the downside for 0.9716 support again.
AUD/USD
Previous Day Range High: 0.7132 Low: 0.7069 Close: 0.7101
Technical Chart Resistance
R-2: 0.7164
R-1: 0.7132
Support
S-1: 0.7069
S-2: 0.7038
Forecast
High: 0.7132
Low: 0.7069
Intraday bias in AUD/USD remains neutral at this point. Consolidation from 0.7054 is still in progress. Stronger rise could be seen but upside should be limited well below 0.7295 resistance to bring another decline. We’re holding on to the view that rebound from 0.6722 has completed at 0.7295 already. On the downside, break of 0.7054 will turn bias to the downside for 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next.
USD/CAD
Previous Day Range High: 1.3340 Low: 1.3225 Close: 1.3289
Technical Chart Resistance
R-2: 1.3400
R-1: 1.3344
Support
S-1: 1.3229
S-2: 1.3170
Forecast
High: 1.3344
Low: 1.3229
USD/CAD is staying in consolidation from 1.3329 temporary top and intraday bias remains neutral. We’re holding on to the view that decline from 1.3664 has completed with three waves down to 1.3068 already, on bullish convergence condition in 4-hour MACD, just ahead of medium-term channel support. Hence, risks will stay on the upside as long as 1.3068 holds. On the upside, break of 1.3375 resistance will confirm this bullish case and target a test on 1.3664 high.

Reach Us

Drop us a line or email us and we will respond as soon as possible.

85 Great Portland Street
London, UK
W1W 7LT

+44 203 871 8393

info@hudsongc.com

Leave A Message