USDX (USD Index)
U.S. dollar index breakout lower with strong momentum after Trump’s tariff. The situation is bearish, and it might continue the bearish movement toward 100.00 level. Under current situation, it is better to stick with short positions in U.S. dollar until the target reached and show bounce reactions. Traders could expect some immediate reactions in U.S. dollar index (relief rally), when the relief rally lost momentum, traders could add more short positions in U.S. dollar.
EUR/USD
EUR/USD breakout above the 1.1000 level and reached the 1.1120 level today. The bullish movement has strong momentum, which mean the bullish trend could continue. Traders who want to enter long positions will wait for pullback to retest the broken resistance level. Without any major change in the global market situation, EUR/USD is set to continue the bullish trend.
Today’s critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185, 1.1300
GBP/USD
GBP/USD breakout above 1.3000 after few weeks of consolidation. The pair almost reach the 1.3250 resistance level in one movement. Under current situation, traders who have long positions from below 1.3000 will continue to hold the positions with stop order near break-even. We expect the pair to continue the bullish trend as the global market reacting toward Trump’s tariff.
Today’s critical levels to watch:
Support: 1.3000, 1.2800
Resistance: 1.3250
USD/JPY
USD/JPY fall with strong bearish momentum, continuing the movement after rejection from 151.00. The pair is getting near the 145.00 support level and might show immediate bounce reactions. Or the pair might stall near the 145.00 before continuing its bearish movement. We now expect the pair to continue the bearish trend, to target the 142.00 support level next.
Today’s critical levels to watch:
Support: 145.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD made a fake breakout below the triangle pattern today and currently moving upward with strong bullish momentum. It is a strong indication that the bullish movement will continue. Traders could expect a breakout from the triangle pattern this week and the pair could continue the bullish movement toward 0.6500 and daily SMA 200.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700