EUR/USD

The EURUSD has an upward medium term bias and is currently ranging between the H1 50 and 100 EMA`s as it looks for further support to the upside. A close above the correction line will see bulls target 1.1300, 1.1335 and 1.1400 as they look to extend on recent gains and make new highs for 2016. However, should bears manage a close below the 100 EMA, we would see them deepen their retrace of recent moves as they try gain momentum in hopes of re-igniting the longer term trend down. Support is at 1.1200, 1.1168 and 1.1100.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1163 1.1198 1.1216 1.1251 1.1269 1.1304 1.1322
WEEKLY 1.0811 1.0933 1.1101 1.1223 1.1391 1.1513 1.1681
MONTHLY 1.0700 1.0456 1.0665 1.1021 1.1230 1.1586 1.1795
 

GBP/USD

GBPUSD continues to fall from its 1.4500 highs as bears take control in the short term. The medium term trend is however still up and with significant support in the form of the H4 50 and 100 EMA`s and with the stochastic in oversold levels, bulls will be looking to defend 1.4350, 1.4300 and 1.4240 in hopes of putting bears off and pushing for 1.4400, 1.4450 and 1.4500.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4206 1.4284 1.4325 1.4403 1.444 1.4522 1.4563
WEEKLY 1.3717 1.3884 1.4183 1.4350 1.4649 1.4816 1.5115
MONTHLY 1.2773 1.3303 1.3609 1.4139 1.4445 1.4975 1.5281
 

AUD/USD

The AUDUSD has retested and failed to break below the 61.8% fibo retracement support after making highs of 0.76800. The pair is currently trading at 0.7600 after breaking above its down sloping retracement line, which it will likely retest. Should 0.7600 hold, we expect bulls to stage one last push for 0.7625, 0.7650 and 0.7680 as they look to extend their yearly gains. However, should bears manage to capture 0.7600, we would see them target 0.7570, 0.7550 and 0.7500 as they try to re-ignite the longer term downward bias.

AUD/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7483 0.7524 0.7574 0.7588 0.7611 0.7652 0.7675
WEEKLY 0.6928 0.7021 0.7075 0.7168 0.7222 0.7315 0.7369
MONTHLY 0.6695 0.6833 0.6987 0.7125 0.7279 0.7417 0.7571
 

USD/CAD

The USDCAD bulls are retesting 1.3100 after finding some support just above 1.2950. However the trend is still down and we expect bears to step in at 1.3150/1.3200 to try extend their recent dominance by making new lows with targets at 1.3050, 1.3000 and 1.2950.

USD/CAD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2914 1.2593 1.3024 1.3063 1.3134 1.3173 1.3244
WEEKLY 1.2818 1.29914 1.3101 1.3274 1.3384 1.3557 1.3667
MONTHLY 1.2687 1.3083 1.3311 1.3707 1.3935 1.4331 1.4559