Forex Technical Major Pairs analysis April 15, 2019

USDX (USD Index)

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Forex Technical Major Pairs analysis April 15, 2019

U.S dollar index fell on Friday trading session and almost reach 96.70 support level. There was bounce near the level and the index return inside Thursday range. It could be the early bullish sign and could lead the index higher this week. No change to the outlook yet which is inside 96.70 – 97.50. We are waiting for a breakout and it could happen either way.

News to watch

09.30 AUD Monetary Policy Meeting Minutes

For full outlook for this week, you can follow Forex Outlook For The Week 15-19 April 2019

Technical Analysis

EUR/USD

Forex Technical Major Pairs analysis April 15, 2019

EUR/USD made a sudden jump before the week ended and it managed to surpass 1.1300 resistance. However, the pair still contained below its bearish channel and suggest the possibility of rejection from the top of the channel. If EUR/USD could climb above 1.1300 and the top of the channel then it might change the short-medium-term trend to bullish.

today critical levels to watch:

Support: 1.1200

Resistance: 1.1300, 1.1360, 1.1400

GBP/USD

Forex Technical Major Pairs analysis April 15, 2019

All movement still contained inside the triangle pattern on the GBP/USD daily chart. There is no change to the outlook yet, traders could expect the consolidation inside the triangle will continue this week. We will continue waiting for the breakout before placing positions.

Today Critical level to watch:

Support: 1.3000, 1.2800

Resistance: 1.3125, 1.3250, 1.3300, 1.3330

USD/JPY

Forex Technical Major Pairs analysis April 15, 2019

USD/JPY touchdown at 112.00 and close right at the resistance. It is a bullish sign and USD/JPY might be able to continue upside this week. No breakout above the resistance yet, so USD/JPY still need a close above 112.00 or better 112.50 before the trend turns to strong bullish.

Today critical levels to watch:

Support: 111.00, 110.50, 110.00

Resistance: 112.00, 112.14, 112.50

AUD/USD

Forex Technical Major Pairs analysis April 15, 2019

A closure above 0.7160 happened in AUD/USD and will become a riddle for this week. It is a complicated situation for AUD/USD while the pair searching for direction. The overall trend slowly turns bullish, but as long as there is no close above SMA 200 then traders must be careful when entering long positions.

We will wait for the test on SMA 200 this week and determine if a breakout or rejection will happen.

Today critical levels to watch:

Support: 0.7160, 0.7080, 0.7000

Resistance: 0.7200

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