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USDCAD remains in a consolidation mode having continued to trade in a range below its key resistance zone at 1.3352. A break either way must occur to trigger directional moves

With USDCAD seen taking back its intra day gains during Monday trading session, risk of more weakness is now envisaged. Resistance resides at the 1.3212 level where a break will target the 1.3250 level.

This is our latest outlook on NZDUSD. We look for more weakness to occur in this currency pair in the days ahead. With NZDUSD remaining weak and vulnerable to the downside , further weakness is expected. Support lies at the 0.6700 level where a break will aim at the 0.6650 level.

With USDCHF selling off strongly the past week, a follow-through lower is envisaged in the new week. On the downside, support comes in at the 0.9400 level.

USDJPY: Having continued to maintain below the 123.74/99 zone and weakening on Tuesday, USDJPY corrective pullback risk remains in place. On the downside, support comes in at the 122.50 level where a break if seen will aim at the 122.00 level.

EURUSD: Having taken out its key resistance at 1.1233 level on Tuesday, more strength is likely in the days ahead. Support lies at the 1.1200 level.

GOLD: The commodity reversed its Wednesday gain to weaken on Thursday leaving risk of more lower towards the 1,312.00 zone

GOLD: The commodity closed strongly higher the past week leaving risk higher but beware of a pullback in the new week. On the downside, support comes in at the 1,300.00 level

GBPJPY – With the 119.94 level, its Oct 18’2011 taken out following its early morning trading today, further declines is likely in the days ahead.

USDCHF: With the pair losing upside momentum to close on a rejection candle the past week. This has set the pair up for a move lower in the new week. On the downside, support lies at the 0.9700 level.

EURUSD: Having EURUSD closed higher on Wednesday, it could face further upside. This development if seen will aim at its key overhead resistance at 1.1130 zone.

GBPUSD targets further price build up following its temporary bottom on Wednesday. It looks to extend its recovery towards the 1.5196/99 zone. leaving risk of further move higher.

This is our latest outlook on Crude Oil. The commodity extended its weakness on Friday to close the week lower. It also reversed most of its previous week gains. This has turned risk to the 43.19 zone

GBPJPY – With GBPJPY following through higher and triggering a corrective recovery the past week, scope for further strength is now seen towards its nearby resistance at the 123.27 level, its Aug 10’ 2011 low.

GBPUSD: Having turned lower ahead of 1.6161 level, its Oct 31’2011 high and sold off strongly to wipe out its three-day gains on Wednesday, risk of further downside weakness is expected.

EURUSD: Despite a marginal lower close due to price hesitation the past week, its broader upside outlook remains intact.

USDCHF: Although the pair remains biased to the upside medium term, it now faces bear threats after reversing its previous week losses to close lower.

AUDUSD: Bearish price extension saw AUDUSD closing lower for a third consecutive week on Friday and paving the way for additional weakness in the new week.

GOLD: While Gold’s nearer term bias remains to the upside as the commodity continues to strengthen, a convincing violation of the 1,641.25 level, its Dec 21’2011 high is required to pave the way for further upside gains.

GOLD: With a reversal of its previous week gains seen the past week, Gold looks vulnerable in the new week suggesting a follow through lower on the back of bear threats.

AUDUSD: With a reversal of almost half of its corrective weakness started from the 1.0749 level seen following a strong rallying the past week, there is risk of further bullish build up in the new week.

USDJPY: Having reversed its previous week gains to close lower the past week, the risk is for USDJPY to weaken further in the days ahead.

GBPJPY – The cross ended the week higher following a strong rally through its key resistance at the 122.61 level, its Oct 17’2011 high and setting the stage for further upside gains.

EURGBP- The cross faces further upside pressure after resuming its short term uptrend the past week. Support lies at the 0.9000 level

EURUSD: Having continued to maintain its recovery strength, EUR looks to build up on further gains in the new week.

USDCHF: The pair may have backed off the 0.9326 level and closed slightly lower the past week but continues to hold on its medium term bullish tone set from the 0.7068 level, its Aug 09’2011 low.

EURJPY- The cross remains biased to the downside in the long term as it continues to hold on to its long term bearishness and looks to decline further.

EURUSD: Having decisively broken through the 1.3937 level, its Sept 15’2011 low, EUR is going into the new week bullish and targeting further upside gains.

USDCHF: With a second week of declines sending the pair further lower the past week, the risk is for USDCHF to weaken more in the new week.

EURGBP- The cross continues to maintain its downside vulnerability selling off sharply at the end of week and opening the door for further weakness towards the 0.8530 level, its Sept’2011 low.

EURGBP- Vulnerability remains after capping its recovery at the 0.8792 level on Sept 23’2011 and tumbling lower.

EURUSD: The pair has halted its weakness following a failed test of the 1.3144 level the past week. With a high wave candle pattern now in place, risk of a recovery higher in the new week is a possibility.