USDX (USD Index)
It seems the U.S dollar index turn lower and canceled its bullish correction scenario toward 92.00. The index is expected to reach 90.00 first now before a bullish correction will happen. Traders will continue to avoid long positions in the U.S dollar for now. Short positions could be taken when a bullish correction has happened and the index reaches a resistance level.
EUR/USD
EUR/USD hanging at high, just below 1.2200 resistance level. The pair expected to test the resistance level and breakout higher. If a bullish breakout happens then traders will expect the pair to target 1.2300 and 1.2500 resistance levels. Meanwhile, the pair is consolidating between 1.2000 – 1.2200 and traders will wait for a breakout to happen.
today critical levels to watch:
Support: 1.2070, 1.2000
Resistance: 1.2200, 1.2300, 1.2500
GBP/USD
We have a bullish bounce from the 1.3250 support level and GBP/USD opened higher this week. The pair mostly higher as the Brexit deadline pushed behind and there is little progress to a possible deal. EU seems working hard to make a deal possible which helped GBP/USD trade higher.
As the U.S dollar index is expected to weaken further, GBP/USD might be set to target the 1.3600 resistance level next.
Today Critical level to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3000
Resistane: 1.3450, 1.3600
USD/JPY
USD/JPY under pressure today below 104.00 however no lower low printed yet on the chart. The pair might continue trading near the current level and waiting for a trigger to move. Traders will continue to monitor the pair reaction near 104.00 for now.
Today critical levels to watch:
Support: 104.00, 101.50, 101.19
Resistance: 105.00, 106.00, 106.70
AUD/USD
The only direction of AUD/USD is up for now. The pair keep printing higher high and higher close. However, it is currently trading above the bullish channel. Traders might expect a correction before further upside.
Today critical levels to watch:
Support: 0.7500, 0.7450, 0.7330, 0.7300
Resistance: 0.7550, 0.7600