USDX (USD Index)
The U.S. dollar index closed bullish yesterday and today there was a decline toward the daily SMA 200. Broadly speaking, traders are waiting for US employment data and also the Fed FOMC meeting next week. There is a possibility that strengthening will continue and there is also the possibility of sideway movement near the daily SMA 200. Traders will now wait for a reaction near the daily SMA 200 point for further confirmation.
EUR/USD
EUR/USD closed bearish for the second day below the daily SMA 200 point. This weakness also managed to close below the 1.0800 point. If there is no change in the situation then the pair could move down to 1.0650. Traders can wait for the pair to return above the daily SMA 200 point for long position opportunities. Short positions remain inadvisable unless there are significant changes to the Fed’s plans next week.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD has fallen below 1.2625 and will now try to continue weakening towards the daily SMA 200. As written in the previous analysis, traders can wait near the daily SMA 200 for a bullish reaction. When a bullish reaction occurs, traders can consider entering a long position.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800
USD/JPY
USD/JPY pushed down sharply today and immediately reached 145.00. There are no surprises regarding this bearish movement and there is a possibility that the bearish movement can continue towards 142.00 and the daily SMA 200. Long positions are not recommended because the pair’s trend has changed to bearish. When the pair makes a bullish correction, traders can wait near the resistance point for opportunities for short positions.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00
AUD/USD
AUD/USD was pushed down and formed a lower low. However, the bearish pressure did not last long and now the pair has moved up above the daily SMA 200 point. Traders can consider entering a long position near the daily SMA 200 with the assumption that the bullish trend will continue to form a higher swing high point.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000