FXOpini | Technical | Fundamental - page 2
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Dollar Pressing Sterling
In general, the movement of GBP / USD at 4-hourly charts are in condition corrected. If sterling continues to unlock the potential pressured by dollar prices will still fall to the bottom where there is a potential next support at around 1.5033 which is the 76.4% Fibonacci retracement area will be in touch by price.
Instead beware because the technical indicators RSI is in oversold condition in which there is a chance the price will move up towards resistance at 1.5281 which is a strong resistance area for the movement of prices.
Bearish Bias In USD / CHF, Notice of Action Rebound
In general, the movement of USD / CHF at 4-hourly charts are in a bearish pressure. If the dollar was lower against the franc at 0.9228 opens up the potential to penetrate the support price will move down towards 0.9806 support.
Instead beware also because the technical indicators RSI is in bullish divergence condition in which there is a chance the price will move up. If prices break through resistance at 0.9351 next resistance opportunites in the range 0.9427 - 0.9489 will be in touch by price.
Bullish Bias on Oil prices
In general, the movement of crude oil on the 4-hourly chart is in bullish mood and the current price shown is testing critical area. If prices break through the median line of tools and resistance at 109.27 Pitchfrok Andrew opportunities in oil prices will move towards resistance at 113.79.
Conversely, if oil prices weaken against the dollar to break open the potential price of 107.29 support will be corrected back down towards 105.35 support to the lower line of Andrew Pitchfrok tools.
GBP / JPY Being in Crucial Area
In general, the movement of GBP / JPY at 4-hourly charts are in a rebound and the current conditions in the area are crucial. If sterling strengthened against the yen to 151.37 resistance penetrate opportunities bullish price movement will continue to move towards resistance at 152.38 - 153.19.
Conversely aware also if the price moves down to penetrate support 150.55 dengam unlock the potential of immediate support at around 149.73 which is the 38.2% Fibonacci retracement area will be in touch by price. Will be seen as bearish momentum indicator RSI moves downward through the level of 50.
USD / CAD In Bearish Pressure
In general, the movement of USD / CAD at 4-hourly chart is in bearish conditions and current RSI indicator is in bearish divergence condition. If the dollar weakened against the loonie to break 1.0330 support will potentially bring the price move down towards 1.0287 support.
Conversely beware if prices continue to rebound above 1.0425 resistance then there are chances will be tested by the price movement. Rupture resistance at 1.0425 further rebound opportunities where resistance at 1.0468 which is 38.2% Fibonacci retracement level will be re-touched by the price.
GBP / USD Rebound Bullish
In general, the movement of GBP / USD at 4-hourly charts are in bullish mood and the current price has penetrated the 1.5434 level where there is a chance the price is going to continue its bullish movement towards 1.5603 resistance.
Conversely alert if the price moves to 1.5360 support and below the estimated median line of tools will be Andrew Pitchfrok correction area. Technically the RSI indicator is in overbought condition.
EUR / CHF Still In Phase Correction
In general, the movement of EUR / CHF at 4-hourly charts are in a bearish correction condition. If the euro weaken against franc and penetrate support at 1.2275 that there is open the potential price will move down towards the immediate support at around 1.2217.
Instead pay attention to the current price is above the strong support area where it is likely to rebound over. If the resistance at 1.2311 in translucent that there is opening price will rebound upwards towards the next resistance at around 1.2340.
NZD / JPY Potential To Form Bearish Flag
The movement of NZD / JPY at 4-hourly chart potential to form a bearish flag pattern where price is likely the price will move down. If the kiwi weakened against the yen to penetrate the lower line of the pattern and support at 76.30 that there is potential will move towards support at 75.03.
Conversely, be-alert if the price moves upward with the opportunity to penetrate resistance at 77.72, the price will move towards next resistance in the range of 78.35 - 79.13 and is expected to rebound the prices established pattern will fail.
EUR / CHF rebounds and Potential to Form Reversal Ascending Triangle
The movement of EUR / CHF at 4-hourly charts are in rebound conditions and potential to form reversal ascending triangle price where there is a possibility the price will move up. If the price breaks the upper line of the price pattern likely will bring the price move up towards resistance at 1.2342 - 1.2365.
Conversely, be-alert if the price goes down then there is potential support at 1.2290 and the lower line of the price pattern will be tested by the price. Will be seen as bearish momentum in indicator RSI moves downward through the level of 50.
USD / CAD Potential to Form Bullish Foundation
The movement of USD / CAD at 4-hourly charts are in a state of rebound. If the dollar strengthened against the loonie to penetrate resistance at 1.0330 that there is opportunites price will move up to the next resistance at 1.0383 which is the range of area median line of Andrew Pitchfrok tools.
Conversely, be-alert if the price moves down to penetrate the lower line of tools Andrew Pitchfrok that there is potential the price would move to further bearish movement towards 1.0287 support to 1.0244.