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AUDUSD (1H) - short term bullish bias Following its rebound from the 50% (0.6845) Fibonacci retracement level on the daily chart, the Aussie continues its way up towards the previous high of 0.6930. Both 20 and 30-hour moving averages saw strong buying interests during minor pullbacks and have provided solid support so far. The RSI indicator has yet to show any...

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GBPNZD (1H) - short term bearish bias Sentiment has become increasingly downbeat after the pair dropped below the major support level of 1.9840. Both 20 and 30-hour moving averages act as strong resistance along with the bearish trend line and are likely to contain any rebound. The RSI indicator has recovered from the over-sold area, this would give...

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USDCHF (1H) - short term bearish bias The US dollar is in another round of sideways action after dropping through the 0.9810 floor on Tuesday. Sentiment is still on the pessimistic side and as long as the bearish trend line keeps the price action in check, we would expect the pair to be under pressure for the rest of the week. The current consolidation is an...

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EURAUD (1H) - short term bearish bias The pair has met stiff selling pressures near the daily resistance level of 1.6310 and pulled back to find more support. The 4H demand area at round 1.6145 saw some buying interests earlier this morning, though the 20 and 30-hour moving averages are likely to cap any rally for the time being. We would expect the euro to drift...

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GBPUSD (1H) - short term bullish bias The cable is securing some support near the 4H floor at around 1.3050, a level previously reached before the election rally. Sentiment remains neutral at best after the pound gave up all its gains across the board. Though we expect a rebound in the short term as traders start to buy the dip. The RSI divergence offers the...

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Brent crude (1H) - short term bullish bias The oil price has climbed along the moving averages which have been solid support levels for a week. We would expect the rally to go on as long as these levels continue to attract trend-followers. After breaking above the psychological level of 66, sentiment remains buoyant while the RSI indicator fell back to cool down,...

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GBPJPY (1H) - short term bullish bias The pound sterling has pulled back to the its pre-election level just over the 4H support area at round 142.80. The bullish RSI divergence where a lower low in the price met a higher low in the indicator meant that the bearish momentum had decreased, a prerequisite for a potential rebound. If the demand area hold well we...

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BTCUSD (1H) - short term bullish bias The bitcoin has reached the November low of 6535. While sentiment remains bearish for the medium term, we may expect a short-term rebound as sellers take profit and buyers buy the dip. The RSI has recovered from the over-sold area and suggests a pause in the sell-off after its over-extension. The 20 and 30-hour moving...

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NZDUSD (1H) - short term bearish bias Following our analysis on last Friday, the New Zealand dollar struggled to make a higher high as buyers became fewer. The bearish RSI divergence effectively predicted a U-turn in the market mood. The break below the key support level of 0.6570 and the bearish MA cross are confirmations that sellers have taken control of the...

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USDSEK (1H) - short term bearish bias The US dollar is making another attempt at the previous high of 9.4100 in what looks like a horizontal consolidation pattern. The RSI divergence suggests that the bearish momentum has slowed down, especially after the indicator penetrated the over-sold area. The recovery may have prompted some profit-taking but market...

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GBPAUD (1H) – short term bearish bias The pound sterling continues to retreat across the board ahead of the BoE meeting on Thursday. The RSI divergence following the price’s over-extension indicated that the upward momentum was losing speed. The break of the support level of 1.9280 was a major confirmation that there is a lack of optimism in the market prompting...

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AUDCAD (D) – medium term bearish bias Friday’s price action failed to rally above the September high of 0.9140, the long wick suggests a strong rejection from that supply area. The pair is likely to pull back towards the rising trend line which forms the lower end of the pennant from the September sell-off. A break below the line would invalid the psychological...

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AUDUSD (1H) - short term bearish bias The Aussie struggled to close above the daily resistance of 0.6920 from last November as a sign of stiff selling pressure ahead. While the RSI ventured into the over-bought territory, the bearish divergence suggests that last week's recovery was losing steam. The breach of the major support of 0.6880 along with a bearish MA...

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USDJPY (1H) – short term bearish bias The US dollar’s rally came under pressure as it approached the daily resistance level of 109.70. The RSI overshot into the over-bought area and indicated an over-extension. The sharp drop on Friday was a sign that buyers started to take some chips off the table and bagged their profits. We may expect the pair to remain under...

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USDCAD (1H) - short term bearish bias Last week's bullish impulse turned out to be a dead cat bounce, then hopes faded after the price dipped below the support level of 1.3160. The short-lived recovery of the RSI from the over-sold area was met with renewed selling pressure. We would expect the mood to remain bearish as long as 1.3190 contains any pullback. For...

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EURAUD (1H) - short term bullish bias Last night's engulfing bullish candle gave the euro strength to make a comeback. The previous double dip into the RSI's over-sold territory suggests an over-extension of the sell-off. After a few hours of consolidation along the moving averages, the pair bounced higher above the immediate resistance level of 1.6150. The...

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NZDUSD (1H) - short term bullish bias The kiwi went on a bullish ride ever since it broke above the critical daily resistance level of 0.6430 at the start of the month. The latest consolidation has established solid support at 0.6575 and the rising moving averages are likely to see more trend-followers joining in. The diverging RSI, however, indicates a...

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EURAUD (1H) - short term bullish bias After its parabolic rise earlier this week, the single currency pulled back to the previous lows and support level at around 1.6140. We would expect the pair to meet solid interest from the dip-buying crowd. A rebound is likely as long as bids outlast offers in this demand zone. A break below might trigger an extended...