The EUR/USD pair initially rallied during the day on Tuesday, but the 50-day exponential moving average has yet again offered resistance. It looks now that every time this market rallies, the sellers are willing to jump in. I believe we are going to reach towards the 1.05 handle underneath, but that is a massive barrier to overcome. Because of this, I think short-term scalping to the downside will more than likely be the best way to trade this market, and therefore short-term rallies offer value…
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USD/JPY
The downtrend broke through 107.60 low and the bias remains bearish, for a slide towards 105.40 support zone. Initial resistance lies at 107.00, followed by the crucial area around 107.60. Resistance Support intraday intraweek intraday intraweek 107.00 107.60 107.60 109.90 106.10 105.40 105.40 105.40
GBP/USD Attempts To Climb Over 1.46
The GBP/USD currency pair remained relatively unchanged on Friday, with the pair edging only 5 pips higher over that day. The Cable is expected to continue climbing higher today, with the nearest resistance located only around 1.4710. However, there is insufficient impetus for a rally that high today, with price likely to close near the 1.4650 mark. Technical indicators are giving bullish signals, bolstering the possibility of the positive outcome. On the other hand, the Sterling also risks rema…