USDX (USD Index)
U.S dollar index turn lower today and might form a bearish engulfing pattern. It could be a sign of bearish continuation to target the level below 97.43. However, the current situation will depend on the development of Israel-Iran situation. In the latest news, it was said that Iran attack U.S forces in Iraq & Qatar with missiles. If the conflict de-escalate this week, then we will see the index continue moving lower.
EUR/USD
EUR/USD made a bullish reversal after testing the 1.1500 level today. The pair looks moving upward with moderate momentum and will close the day with a bullish engulfing pattern. If the bullish situation continues, then we will see the pair breakout above 1.1580 tomorrow. Traders will observe closely the pair movement inside the 1.1500 – 1.1580 area. As long as there is no major breakout from the range, the pair will continue trading sideways.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1580
GBP/USD
GBP/USD opened lower below the 1.3450 support level, but immediately stage recovery and return inside the 1.3450 – 1.3600 range. The pair might resume the consolidation inside the range with bullish bias. If the pair breakout higher and print a new higher swing high, then the bullish trend will continue. On the lower side, if the pair close below 1.3450, then there is a chance of bearish continuation toward 1.3250.
Today’s critical levels to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600
USD/JPY
USD/JPY touched the green box area and immediately form a bearish rejection. It is a first touch and might be a profit-taking reaction. Traders will monitor the pair movement for few days, if there is bullish continuation, then traders will expect the pair to target 150.00 and daily SMA 200.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD pushed lower toward the daily SMA 200 today. The pair showed a bullish reaction and might close the day with a bullish pin bar pattern. If there is immediate bullish continuation, then the pair might break out above the green box area. However, if the pair reverse lower again, then traders will expect the pair to test the bottom of green box area.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700