EUR/USD formed an (bearish) outside day pattern yesterday and momentum has turned bearish. Hence, we see a deeper dip to 1.1450 Above 1.1375 needed to question immediate downside.
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GBPUSD DOWN NOW
GBP/USD broke below a key level at 1.30000, a bearish outside day was seen on Thursday and moving averages have turned bearish. Hence, we see a dip back to 1.2950. A break above 1.2850 to question downside
USDJPY UP TREND
USD/JPY has resistance at 110.97 and momentum is flat. Hence, we see a dip back to the base of the bull channel (109.88). A break above 110.97 to open 111.61
GBPUSD UP TREND
EURUSD DOWN TREND
EUR/USD formed an (bearish) outside day pattern yesterday and momentum has turned bearish. Hence, we see a deeper dip to 1.1500 Above 1.1450 needed to question immediate downside.
AUDUSD UP MOVE NEXT MONTH
MACD indicator has recently witnessed a centreline crossover to trade into positive zone, further validating the above stance. The key technical obstacle is situated at the 0.7780 level, followed by the 0.7810 and 0.7850 levels. A break and stability above the latter might reverse the main trend to bullish. Conversely, support is located at the 0.7720 level, a breach below which might trigger further weakness in the pair, targeting the next supports at the 0.7700 and psychological 0.7640 levels.…
USDJPY UP MOVE NEXT MONTH
MACD indicator has recently witnessed a centreline crossover to trade into positive zone, further validating the above stance. The key technical obstacle is situated at the 107 level, followed by the 107.60 and 108.50 levels. A break and stability above the latter might reverse the main trend to bullish. Conversely, support is located at the 106.60 level, a breach below which might trigger further weakness in the pair, targeting the next supports at the 106.35 and psychological 105.60 levels.
EURusd down move
EURUSD managed to head to test 1.2435/72 zone which will consider the resistance zone for the coming short-run as long as market holding trades with daily close below this zone , the downtrend pressure will sustain over market for another dip toward 1.2250 above 1.2170
GBPUSD UP MOVE
GBP/USD is bouncing from 1.4000 (base of the bear channel) and MACD is giving mixed signals. Hence, we expect a further bounce towards 1.4332. Below the bear channel to avert upside.
USDJPY UP TREND
The US Dollar continued its downtrend against the Yen in the previous session and marked its lowest level since mid-September 2016 at 110.33. As of now, the pair is trading in an upward trending channel on the 1H chart, after the data released in Japan showed a more-than-expected drop in the producer price index In addition, the MACD indicator has recently witnessed a centreline crossover to trade into positive zone, further validating the above stance. The key technical obstacle is situated at …