USDX (USD Index)

The bounce from 93.00 support level not followed through yet by the bull. U.S dollar index lower for the second day and looks will head to 93.00 support again. Lack of major news today and tomorrow might lead U.S dollar index sideway until Thursday trading session where there is PPI report.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 7 July – 11 August 2017

Technical Analysis

EUR/USD

EUR/USD bull continue to maintain the price above 1.1710 and show no interest to move down. There is nothing to expect yet at current level as the price hanging in the middle of Friday candlestick. If the pair could close below 1.1710, it will trigger a deeper correction. Meanwhile, a move higher than previous day high will cancel bearish outlook.

Today critical level to watch:

Support: 1.1800, 1.1775, 1.1712, 1.1700, 1.1642

Resistance: 1.1900, 1.1924

GBP/USD

Similar to previous day analysis, GBP/USD moved lower and near the support level. There is no reaction yet from the bull, and the price might continue moving sideway today. The level is a good level to look for a long position with the stop below 1.3000.

Today critical level to watch:

Support: 1.3000, 1.2930, 1.2900

Resistance: 1.3070, 1.3124, 1.3200, 1.3250, 1.3300

USD/JPY

Back to the square is the situation on USD/JPY chart. The pair moves lower to the 110.50 support level despite the momentum on Friday trading session. If the pair closed below 110.50, it would put the bounce under question and traders could expect more attempt toward 109.00.

Today critical level to watch:

Support: 110.50, 110.00, 109.00

Resistance: 111.00, 111.64, 112.00