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FX BAZOOKA: technicals (Jan. 14)

 

EUR/USD

EUR/USD is consolidating in the $1.3637/90 area.

• 55- and 100-period MAs are falling. The pair is trading around the 200-period moving average ($ 1.3665).
• MACD is in the positive territory, above the signal line. RSI (14) is in the neutral position (56).
• The pair is trading at the lower limit of the Ichimoku Cloud. The bearish Cloud narrowed. A “golden cross” was formed under the Cloud – a weak bullish signal.

The pair still has chance to climb to $1.3750.

Resistance: $1.3690, $1.3700, $1.3730, $1.3810

Support: $1.3650, $1.3630, $1.3620, $1.3570

Chart. H4 EUR/USD

Upcoming events

USD - 10:00 GMT – Euro zone’s Industrial Production   

USD - 13:30 GMT - Core Retail Sales   

USD - 13:30 GMT - Retail Sales   

USD - 13:30 GMT - Import Prices

USD - 15:00 GMT - Business Inventories

USD - 17:45 GMT - FOMC Member Plosser Speaks

USD - 18:20 GMT - FOMC Member Fisher Speaks

GBP/USD

Cable is consolidating slightly above the $1.6350 support after having traded under an intense selling pressure on Monday.

  • Cable holds above the H2 2013 support ($1.6340)
  • The pair holds above 38.2% Fibo retracement ($1.6315)
  • MACD histogram  is in the negative zone
  • The pair is trading below the bearish Ichimoku
  • 55-period MA is trying to reverse to the downside

The pair remains well-supported for now. However, a break below the $1.6315 support would open the way to $1.6260 and $1.6200.

Support: $1.6350/40, $1.6315, $1.6260

Resistance: $1.6470, $1.6500

 

Chart. H4 GBP/USD

Upcoming events

GBP - 9:30 GMT – CPI, RPI, PPI

USD - 13:30 GMT - Core Retail Sales  

USD - 13:30 GMT - Retail Sales  

USD - 13:30 GMT - Import Prices

USD - 15:00 GMT - Business Inventories

USD - 17:45 GMT - FOMC Member Plosser Speaks

USD - 18:20 GMT - FOMC Member Fisher Speaks

USD/JPY

USD/JPY is correcting a little bit higher after the two-day selloff stopped at 102.85.     

  • The pair dropped below the trend line, existing since November 2013
  • Ichimoku cloud is giving selling signals
  • MACD histogram is in the negative zone, but stopped declining for now

Bulls are trying to strengthen the positions, but for now there are not enough bullish signals. Rise above 103.50 would open the way to 103.90/104.00.

Support: 102.85, 102.50/45, 102.15

Resistance: 103.50, 103.90/104.00, 105.00, 105.60

Chart. H4 USD/JPY

Upcoming events

USD - 13:30 GMT - Core Retail Sales  

USD - 13:30 GMT - Retail Sales  

USD - 13:30 GMT - Import Prices

USD - 15:00 GMT - Business Inventories

USD - 17:45 GMT - FOMC Member Plosser Speaks

USD - 18:20 GMT - FOMC Member Fisher Speaks

USD/CHF

The pair remains under a strong bearish pressure since last week. Today the US dollar has found some support at 0.8980, recovering to 0.9000.

  • The pair is likely to have formed a top at 0.9130
  • MACD histogram is in the negative zone, but stopped declining for now
  • Ichimoku Cloud has formed a dead cross
  • Slide below $0.8985 would open the way to 0.8960 and lower. 

Support: 0.8985, 0.8960

Resistance: 0.9025, 0.9050, 0.9075, 0.9130

Chart. H4 USD/CHF

Upcoming events

USD - 13:30 GMT - Core Retail Sales  

USD - 13:30 GMT - Retail Sales  

USD - 13:30 GMT - Import Prices

USD - 15:00 GMT - Business Inventories

USD - 17:45 GMT - FOMC Member Plosser Speaks

USD - 18:20 GMT - FOMC Member Fisher Speaks

AUD/USD

AUD/USD has managed to push a bit higher.

  • The pair rose above the 200-period MA ($0.8990) and is trying to fix above the short-term resistance line and 23.6% Fibo of the decline from Oct. to Dec.
  • MAs remain almost horizontal.
  • Ichimoku Cloud is positive, but still thin: neither bulls, nor bears dominate the market.
  • MACD is in the positive area, but declining. RSI has just left the oversold area.

While the pair trades above $0.9000, the bulls will retain chances to continue pushing higher.

Support: $0.9042, $0.9088, $0.9113, $0.9150

Resistance: $0.8925, $.8936, $0.8974, $0.9000

Chart. H4 AUD/USD

Upcoming events

USD - 13:30 GMT - Core Retail Sales   

USD - 13:30 GMT - Retail Sales   

USD - 13:30 GMT - Import Prices

USD - 15:00 GMT - Business Inventories

USD - 17:45 GMT - FOMC Member Plosser Speaks

USD - 18:20 GMT - FOMC Member Fisher Speaks

AUD - 00:30 GMT - New Motor Vehicle Sales

USD/CAD

USD/CAD found support at 1.0842 and returned to the levels just below 1.0900.

  1. All MAs are going up, and the medium term trend remains bullish.
  2. The bullish Ichimoku Cloud is widening. Kijun-sen (blue line) is rising.
  3. MACD’s declining. RSI (14) is almost neutral.

The outlook will remain positive as long as the pair remains above 1.0865.

Support: 1.0870, 1.0840, 1.0800

Resistance: 1.0920, 1.0945, 1.0950/90

Chart. H4 USD/CAD

Upcoming events

USD - 13:30 GMT - Core Retail Sales   

USD - 13:30 GMT - Retail Sales   

USD - 13:30 GMT - Import Prices

USD - 15:00 GMT - Business Inventories

USD - 17:45 GMT - FOMC Member Plosser Speaks

USD - 18:20 GMT - FOMC Member Fisher Speaks

EUR
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