{"id":62667,"date":"2014-10-28T10:09:34","date_gmt":"2014-10-28T14:09:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=62667"},"modified":"2014-10-28T10:09:34","modified_gmt":"2014-10-28T14:09:34","slug":"eurusd-consolidation-continues-usdjpy-still-under-pressure-in-forex","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurusd-consolidation-continues-usdjpy-still-under-pressure-in-forex\/","title":{"rendered":"EURUSD Consolidation Continues, USDJPY Still Under Pressure in Forex"},"content":{"rendered":"
October 28, 2014<\/div>
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The EURUSD Consolidation Continues<\/strong><\/p>\n

The EURUSD is continuing to consolidate. Yesterday the pair\u2019s fluctuations were committed between the support around 1.2665 and the resistance at the point of 1.2723. The ability to consolidate above 1.2623 should be considered as a positive factor for the euro, but while it is traded below 1.2723-1.2739 the risks of renewed decline will be kept. The breakout of the last level will open the way to 1.2800-1.2825. The loss of the support around 1.2623 will mean the return of the pair to the downward direction.<\/p>\n

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The GBPUSD Needs to Consolidate above 1.6131<\/strong><\/p>\n

The British pound paired with the US dollar made \u200b\u200ban attempt to break the resistance around 1.6131, but at the level of 1.6147 faced the offers, which returned the pair below 1.6118. The prospects of the pound remain negative, and in order to improve them it needs to make a sure breakout and consolidate above 1.6131. This will allow bulls to test the resistance of 1.6173, the passage of which will greatly weaken the downward pressure. The inability to consolidate above 1.6131-1.6118 will provoke the next wave of sales for the pound.<\/p>\n

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The USDCHF Gradually Declining<\/strong><\/p>\n

The USDCHF is gradually receding from the highs of last week around 0.9558, having declined to 0.9476 yesterday. The growth attempt was limited by the level of 0.9520. Today the pressure on the pair is kept and it may decline in the short term to 0.9440-0.9400. Obviously, for the growth resumption the dollar has to rise and consolidate above 0.9555, otherwise the downward correction will start to gain the impulse.<\/p>

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The USDJPY Still Under Pressure<\/strong><\/p>\n

The US Dollar paired with the Japanese yen was unable to continue the growth and to overcome the resistance around 108.33, that led to the decline of the pair to 107.60. In the Asian session the USDJPY dropped to 107.98, but the pressure on it is kept and it is declining again. If the local support around 107.60\/52 is able to keep the dollar from further fall, it will test the resistance around 108.33 again, the breakout of which will signal about the growth resumption. The loss of the support will lead to the decline of the American at least to the area of the 107th figure.<\/p>\n

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provided by IAFT<\/a><\/p>\n

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The EURUSD Consolidation Continues The EURUSD is continuing to consolidate. Yesterday the pair\u2019s fluctuations were committed between the support around 1.2665 and the resistance at the point of 1.2723. The ability to consolidate above 1.2623 should be considered as a positive factor for the euro, but while it is traded below 1.2723-1.2739 the risks of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62667","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62667"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}