USDX (USD Index)
There was a rally in the Friday trading session, however, the bullish movement could not make a close inside the blue box area. At the end of the week, we have a bearish pin bar formed and the U.S dollar index at risk of further weakness. If the index continues moving lower then 90.00 is the support level to watch.
EUR/USD
EUR/USD corrected lower on Friday trading session but the pair could bounce and close the day near its opening level. The pair formed a pin bar pattern and might continue its bullish movement toward the 1.2200 resistance level. As long as there is no higher high printed above 1.2200 then EUR/USD will continue trading between 1.2000 – 1.2200.
today critical levels to watch:
Support: 1.2070, 1.2000, 1.1820
Resistance: 1.2200, 1.2300, 1.2500
GBP/USD
GBP/USD climb and closed near 1.3835 last week. The pair continue to add more bullish pressure at the beginning of this week and might extend its upward movement toward 1.4000. No change to the outlook yet, traders will avoid taking short positions until there is a major bearish reversal happen.
Today Critical level to watch:
Support: 1.3835, 1.3600, 1.3450
Resistance: 1.4000
USD/JPY
USD/JPY made a bullish recovery and currently trading near 105.00. The pair might continue moving upward and target the daily SMA 200. Traders will monitor the pair reaction at 105.00. If the pair get rejected and formed a major bearish reversal pattern then traders will prepare for bearish continuation toward the bearish channel.
Today critical levels to watch:
Support: 104.00, 101.50, 101.19
Resistance: 105.00, 105.50, 106.00, 106.70
AUD/USD
AUD/USD comfortably moves higher and soon will reach the 0.7800 resistance level. The pair will test the level also the January’s high. If a bullish breakout happens then traders will expect continuation toward 0.8000 level. On the other hand, if the pair form a major bearish reversal pattern then a correction toward 0.7640 and 0.7700 might happen before further upside.
Today critical levels to watch:
Support: 0.7750, 0.7700, 0.7640, 0.7550, 0.7500
Resistance: 0.7800, 0.8000