Technical Analysis
Our ultimate goal is to deliver superior returns for our clients
| EUR/USD | |||
| Previous Day Range | High: 1.1796 | Low: 1.1694 | Close: 1.1766 |
| Technical Chart | Resistance R-2: 1.1854 R-1: 1.1810 |
Support S-1: 1.1708 S-2: 1.1650 |
Forecast High: 1.1810 Low: 1.1708 |
| The focus is now on 1.1698 minor support in EUR/USD. Firm break there would confirm short term topping at 1.1908, on bearish divergence condition in 4-hour MACD. Intraday bias will be turned back to the downside for 1.1422 cluster support (38.2% retracement of 1.0635 to 1.1908 at 1.1422) to bring rebound. However, the decisive break there will bring deeper fall to 61.8% retracement at 1.1121. | |||
| USD/JPY | |||
| Previous Day Range | High: 106.47 | Low: 105.54 | Close: 105.91 |
| Technical Chart | Resistance R-2: 106.90 R-1: 106.41 |
Support |
Forecast High: 106.41 Low: 105.48 |
| Intraday bias in USD/JPY remains on the upside at this point. Sustained trading above 106.07 support turned resistance should confirm short term bottoming at 104.18. More importantly, the whole corrective decline from 111.71 has completed with three waves down to 104.18, just missed a 100% projection of 111.71 to 105.98 from 109.85 at 104.12. In the case, the further rise should be seen to 108.16 resistance next. | |||
| GBP/USD | |||
| Previous Day Range | High: 1.3112 | Low: 1.3003 |
Close: 1.3073 |
| Technical Chart | Resistance R-2: 1.3172 R-1: 1.3122 |
Support S-1: 1.3013 S-2: 1.2954 |
Forecast |
| Focus is turned to 1.3013 minor support in GBP/USD. Break there will indicate short term topping. Intraday bias will be turned to the downside for 4 hours 55 EMA (now at 1.2915) and below. But downside should be contained by 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819) to bring rebound. On the upside, a break of 1.3170 will resume a larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. | |||
| USD/CHF | |||
| Previous Day Range | High: 0.9241 | Low:0.9122 | Close: 0.9176 |
| Technical Chart |
Resistance |
Support S-1: 0.9118 S-2: 0.9061 |
Forecast High: 0.9237 Low: 0.9118 |
| Intraday bias in USD/CHF remains on the upside as a rebound from 0.9056 short term bottom is in progress. Further rise would be seen to 0.9376 cluster resistance (38.2% retracement of 0.9901 to 0.9056 at 0.9379). But upside should be limited thereto bring another decline. On the downside, below 0.9148 minor support will bring retest of 0.9056 low. However, a sustained break of 0.9376/9 will bring a stronger rally to 61.8% retracement at 0.9578. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.7149 | Low: 0.7072 | Close: 0.7124 |
| Technical Chart |
Resistance |
Support S-1: 0.7081 S-2: 0.7038 |
Forecast High: 0.7158 Low: 0.7081 |
| Intraday bias in AUD/USD remains neutral at this point. Upside momentum has been diminishing as seen in 4-hour MACD and a short term top should be around the corner. On the downside, the break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 0.7311 long terms EMA. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3451 | Low: 1.3376 | Close: 1.3385 |
| Technical Chart | Resistance R-2: 1.3479 R-1: 1.3432 |
Support S-1: 1.3357 S-2: 1.3329 |
Forecast |
| USD/CAD’s recovery lost momentum as intraday bias is turned neutral first. Rise from 1.3330 short term bottom is still in favor to extend. On the upside, the break of 1.3459 will turn bias back to the upside for 1.3715 resistance. The break will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. On the downside, a firm break of 1.3315 will resume the fall from 1.4667 instead. | |||
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