Forex Technical Cross Pairs analysis May 12, 2020

EUR/JPY

Free $100 Forex No-Deposit Bonus

A major bullish comeback staged on Monday trading session and the pair EUR/JPY closed at 116.30. The 116.30 level is a flip level where the support has turned resistance. We might see the pair has a hard time to break out above the resistance level. At the current time, traders will wait for the closing level of the day. As long as there is no close above 116.30 then EUR/JPY expected to reverse and start moving lower again.

Today critical levels to watch:

Support: 116.00, 115.80, 114.80

Resistance: 116.30

EUR/GBP

EUR/GBP consolidation continue near 0.8700 – 0.8750 without conclusion yet. Today, the pair slightly higher above 0.8750 and will aim to end the consolidation period. Will the consolidation finally end and EUR/GBP start moving higher in a bullish rally?

today critical levels to watch:

Support: 0.8750, 0.8700

Resistance: 0.8862, 0.9000

GBP/JPY

Not much to expect yet as GBP/JPY stuck near 132.50 – 133.00 area. We still favor a bearish scenario where the pair continues its downward movement and reach 130.00 support level. Traders will wait for further reactions near the current level.

Today Critical level to watch:

Support: 130.00, 128.20

Resistance: 132.50, 133.00, 134.50

GBP/CHF

GBP/CHF has not printed major momentum candlestick from the 1.2000 level. The pair currently fall below the level but might close near it again by the end of the day. Similar to the previous day analysis, it is better to continue to stay sideline for now.

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2120, 1.2300

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.