MFXSCharts

MFXSCharts

The Aussie broke through long term channel support in mid-November; falling nearly 300 pips in 3 days, before finding support above 73. Pair has since retraced approximately 61.8% of the decline from 7580 and is testing the .7440 - 75 former support zone. We are looking for a turn lower from here and an eventual break below the 5 month low at 7285. Alternatively;...

MFXSCharts

The Pound was looking very ominous through out last week, but bulls have managed to keep the pair supported thus far, carving a higher low. Pair is currently trading sideways, consolidating between 1.2135 and 1.2325. We expect aggressive selling on any rallies and await significant bearish continuation. A break below 1.2135 would target 1.2090 and the...

MFXSCharts

The Aussie is back in the sell zone after bouncing from channel/zone support confluence on Thursday. We maintain a top is in place and remain bearish, awaiting an eventual break below channel support. Bears will be on the look out for sell signals on the lower timeframes, seeking to push the pair back below 76. Initial support is the .7650 - 76 zone, with a...

MFXSCharts

The Euro was murdered last week, falling over 200 pips and breaking below wedge support dating back to December 2015. Pair has found interim support in our initial target zone and is currently correcting higher. Initial resistance is a zone stretching from 1.1050 - 1.1070 and we expect the rally to remain capped below there. Bears will be looking to retest the...

MFXSCharts

EURUSD has smashed through wedge support, ending over a year and a half of consolidation. There were a lot of calls for parity last year, but the pair bottomed out at 1.0496 and proceeded to rally over 1200 pips. This break below the wedge bottom is a massive, long awaited development and bears will be seeking to drive the Euro lower over the coming days. Initial...

MFXSCharts

The Swissy has broken out of consolidation, finishing Tuesday above wedge resistance. Pair had been trading sideways since February and bulls will be looking to capitalize on this development, pushing the pair higher over the coming days. Initial resistance is a zone stretching from 9920 - 9960, with a break above there targeting parity and the 1.0040 - 1.0095...

MFXSCharts

So turns out we were a little conservative when we called for the 1.618 extension at 1.2385 last week ... Pair fell around 6% on Friday depending on your broker, Reuters had the low some 500 pips lower in the 1.14 region - that's a 10% decline. Regardless, pair quickly recovered to the 1.24 - 1.25 zone, consolidating below the underside of a broken channel. Pair...

MFXSCharts

GBPUSD was slaughtered over night as Theresa May confirmed Britain would trigger article 50 in Q1 2017. Monday's close was the worst daily close since 1985 and this does not bode well for the pound. Pair is currently treading water less than 40 pips from the July/30 Year spike low at 1.2790. A break below there would target the 161.8 extension at the shocking...

MFXSCharts

Thursday's Bearish Engulfing at major resistance zone suggests a top is in place on AUDUSD. We are dubious of Friday's rally and see it as a selling opportunity. Bears will be looking to take out the 7607 - 7590 4h support zone, with a break below there targeting major support confluence above 7450. Only a daily close above 77 would invalidate.

MFXSCharts

The Aussie is approaching major resistance confluence once again and looks ripe for a short. Pair remains capped by falling trend-line resistance dating back to April 2013. Bears will be keeping an eye out for sell signals on the lower time frames and looking to propel the pair lower. Initial support lies in the 76 - 7620 range, with a break below there targeting...

MFXSCharts

Swissy bears have been rejected at range support and bulls will be looking to push the pair higher in the coming sessions. Pair traded as low 9661 in early NY trade, but found willing buyers who managed to completely engulf the preceding sell off. Bulls will now be looking to take out the .9720 - 9742 interim resistance zone, with a break above there targeting...

MFXSCharts

USDJPY appears heavy going into the BOJ rate decision. Pair is consolidating between channel resistance and a rising minor trend-line. Resistance is a zone stretching from 102.25 and 103.35 where sellers are likely to fade spikes. We expect significant buying interest in the 100.60 - 99.60 support zone. We are not looking for a break in either direction, but BOJ...

MFXSCharts

AUDUSD is trading in a bear flag as we head into BOJ and FOMC rate decisions. Pair is struggling with a resistance zone stretching from .7565 to 7585. Bears will be looking to take out the .7540 - 7430 support zone, with rising flag support below there above 7510. We are looking for a break below flag support on dovish BOJ/Hawkish FOMC. Closing power above .7580...

MFXSCharts

Gold has found channel support above 1300 in early Asian trade and looks set to continue higher over the coming sessions. Bulls will be looking to propel the precious metal towards the September highs/major trend-line resistance around 1350. A breach of channel support/Friday's lows would invalidate.

MFXSCharts

The Swissy has been range bound all week, trading back and forth between 9690 and 9790. Pair seems to be finding range support once again on Friday and we are looking for a rally into Europe. Initial target is 9760, with the range top above there at 9790. Breach of 9690 would invalidate.

MFXSCharts

It's been a rough ride on the Cable lately. Pair fell 80 pips after the Bear Flag break, rallied 140 pips into the former support zone and was then rejected, falling another 100 pips. Pair is now once again testing the former support zone and appears to be trading in a descending channel. We continue to look for a move into the next support zone above 1.3050. A...

MFXSCharts

The Loony has once again been rejected at the major resistance zone above 1.32. Pair is pulling back towards the broken wedge top. We'll be keeping an eye out for a bounce from there and failing that; looking for a higher low around 1.3. There is a chance the pair corrects near flat down to the September lows around 1.2820 - though we think this unlikely.

MFXSCharts

The Loony pushed through wedge-top/zone resistance confluence overnight, on back of weaker oil and all round stronger USD. Pair has attempted multiple bullish breakouts in the past few months, but each run has led to disappointment - will this time be different? Bulls will be looking to target the resistance zone which stretches from 1.32 - 1.33. Pair will find...