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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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.
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 …
GBPUSD DOWN TREND
The Pound traded on a stronger footing against the US Dollar in the prior session and surpassed its psychological 1.3900 for the first time since June 2016, as investors remained confident over a soft exit of UK from the European Union. At present, the pair is trading with a mildly negative bias on the 1H chart, indicating at a bearish technical outlook. Besides, the MACD indicator is sharply pointing downwards, further supporting the above view. Meanwhile, traders would eye UK’s inflation data,…
USDJPY UP TREND
Our preference: long positions above 113.45 with targets at 113.85 /114.20 in extension.
Alternative scenario: below 113.05 look for further downside with 112.80 RSI shows upside momentum.
Alternative scenario: below 113.05 look for further downside with 112.80 RSI shows upside momentum.
GBPUSD DOWN NEXT MONTH
Our preference: short positions below 1.3390 with targets at 1.3280
Alternative scenario: above 1.3390 look for further upside with 1.3420 RSI shows downside momentum
Alternative scenario: above 1.3390 look for further upside with 1.3420 RSI shows downside momentum
EURUSD DOWN
short positions below 1.1890 above 1.1890 look for further upside with 1.1905
RSI shows downside momentum.
RSI shows downside momentum.