The pair remain bearish from a med-term perspective as far as 106.90 peak is in place.

Last week, we have a seen a re-test of 103.25 resistance followed by a downside reaction, which confirms that the bearish pressure still intact. In the flipside, a break below 100 level will expose 98.00-96.00 zone.

From a short-term view, the pair is trading sideways between 103.25 resistance in the upside and 101.40 in the downside, in the meantime, and a daily close outside of this range bound will confirm the next leg in this pair.


Gold jumped from 1312 support level and rallied towards the daily resistance level of $1360 per ounce, which is considered as strong barrier for short-term price action.

Therefore, we will focus on this level this week, as a break above it can expose the monthly resistance of $1392 per ounce. In the daily chart, the trend remain bullish, as we have seen a weekly close above 1340 resistance zone, and for the time being, gold should remain steady as far as prices keep trading above 1326 area.


The Sterling failed near the daily resistance zone located near the 1.3500 psychological barrier before to retreat sharply to reach the near-term support of 1.3200, and by now we should see a resumption of the selling pressure in cable.

From a technical standpoint, another dip is likely in the coming days that can extends to as low as 1.3045 level but for this scenario to be valid, prices should continue to trade below 1.3780 peak. Otherwise, a larger correction may begin.

To summarize, the pair remain bearish on a med-term basis as far as 1.3780 peak is in place, consequently, the recent rally can be considered as corrective only.


The Euro rallied to reach as high as 1.1170 level but for the time being, the trend remain neutral in the hourly chart. However, the daily chart is bearish and therefore the upside potential is likely to remain limited below 1.1190-1.1230 zone.

In the flipside, the focus should be on 1.1040 support, as a break below it should expose 1.0970 area.

Finally, 1.1190 is the next level of interest for bulls as it represents the short-term barrier for the Euro and as far as this level holds, the single currency is likely to remain under pressure.


The pair continue to edge higher as the near-term trend turned positive after breaking above 0.7470 resistance. As of now, we will focus on 0.7500/15 resistance zone in the coming sessions, as it represents a strong barrier in the near-term.

In the other side, only a breakdown below 0.7375/40 support zone will put the pair under pressure again.



USD/CAD retreated from 1.3100 weekly resistance, which keeps the pair under pressure in the near-term. Looking at the technical levels, the focus should be on 1.2900-1.2850 support zone for the week ahead and we may see a reaction to the upside in the coming days. Meanwhile, a daily close below this zone should confirm another extension to the downside in the direction of 1.2785 area.

In the other hand, only a daily close above 1.3015/40 zone should confirm a bullish reversal in the pair.



The Kiwi managed to bounce from 0.6960 daily support and during last week, prices overtook 0.7160 resistance level, which reinforces the bullish outlook, however the pair is likely to face strong resistance around 0.7190-0.7225 zone and therefore, traders should wait for a daily close above this zone, to confirm another wave higher towards 0.7300 psychological barrier. Otherwise, we may see a correction to the downside before the bullish trend resume.


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