Dailyfx signals with Technical Reviews

EUR/USD  GBP/USD   USD/CHF  USD/JPY   AUD/USD

 EUR/USD--sell below 1.31 tp @ 1.303 & 1.3

remains on the upside for 1.3138/71 resistance zone. As noted before, consolidation pattern from 1.3171 is already finished with three waves down to 1.2661. Break of 1.3171 will confirm resumption of whole rally from 1.2042. On the downside, below 1.3045 minor support will turn bias neutral and bring consolidations before staging another rally.fall from 1.4939 is treated as a falling leg inside the consolidation pattern that started at 1.6039 (2008 high). Such decline should have completed at 1.2042 already. Break of 1.3486 will confirm and should pave the way to 1.5 psychological level in medium term.  now stay bullish as long as 1.25 psychological level holds.pair continues to appreciate and today reached the key resistance level at 1.3115/21, where the monthly R1 and weekly R2 intersect with the upper Bollinger band. The price increases for a sixth consecutive trading session and reached a seven-week high. Together with it the RSI has value of 73, indicating that the currency couple is overbought. 

USD/CHF--Buy above 0.924 tp @ 0.932 & 0.934

With 0.9340 resistance intact, fall from 0.9512 is expected to continue to 0.9214 low. As discussed before, whole decline from 0.9971 is ready to resume. Break of 0.9214 will confirm this bearish case and target 61.8% projection of 0.9971 to 0.9214 from 0.9512 at 0.9044 next. However, above 0.9340 will suggest that correction from 0.9214 is going to extend with another rising leg before completion. medium term rebound from 0.7065 is viewed as a corrective move and should have completed after hitting 0.9916 resistance (61.8% retracement of 1.1730 to 0.7065 at 0.9948). Deeper decline is expected to 38.2% retracement of 0.7065 to 0.9971 at 0.8861 on break of 0.9214.

USD/JPY-- buy above 81.9 tp @ 82.35 & 82.55

recovers ahead of 81.68 minor support but stays in range below 82.83. Intraday bias remains neutral. Recent rally is likely resuming soon and break of 82.83 will extend the rise from 77.13 to 84.17 resistance and above. Though, below 81.68 will extend the consolidation lower. But in that case, downside should be contained above 80.67 resistance turned support and bring rally resumption. rise from 77.13 is viewed as a leg inside the consolidation pattern from 75.56. Such rally could extend to 84.17 and above. But after all, there is no clear indication of long term trend reversal yet. As long as 85.51 resistance holds, we'd expect the downside from 124.13 to resume sooner or later to a new low below 75.56.

GBP/USD--buy above 1.608 tp @ 1.613 & 1.617 

 No change  Rebound from 1.5827 is still in progress for 1.6174 resistance. As noted before, we're favoring the case that corrective fall from 1.6309 is finished at 1.5827 already. Break of 1.6174 will confirm this bullish case and should target another high above 1.6309. We're continue to stay cautiously bullish as long as 1.5988 support holds even in case of retreat. However, break of 1.5988 will suggest that another low below 1.5827 would be seen before the correction from 1.6309 completes.

AUD/USD --Buy above 1.045 tp @ 1.049 & 1.052

Rebound from 1.0148 is corrective looking and even though it might extend, we'd expect strong resistance below 1.0624 to limit upside and bring another decline. Break of 1.0286 will turn near term outlook bearish for 1.0148 and below.In the bigger picture, price actions from 1.1079 high are treated as a consolidation pattern in the larger up trend, in form of a triangle. Fall from 1.0624 is viewed as the last leg inside the pattern and could extend lower. But downside of the fall from there should be contained above 0.9588 and the larger up trend is ready to resume soon. Break of 1.0624 should send AUD/USD through 1.0852 to retest 1.1079 resistance next.