USDX (USD Index)

U.S dollar index bullish attempt failed and the index resume the bearish trend to target 97.43 level. There is no major bullish reactions which mean the outlook will continue bearish. On the upside, a close above 100.00 might turn the trend bullish for the short-term. Without any change in the situation, it is better to continue shorting U.S. dollar.

EUR/USD

EUR/USD extended the bullish movement and reached the 1.1580 level today. After the pair reached the level, there is slight pullback and now the pair is trading near 1.1500 level. We might see further bullish attempt on the pair, which mean better to avoid shorting it for now. As the bullish movement seems overstretched, when a bearish correction happens, we expect a fast and major bearish movement toward support level to drive out “Late-Longer” before further upside.

Today’s critical levels to watch:

Support: 1.1360, 1.1300, 1.1185

Resistance: 1.1500, 1.1580

GBP/USD

GBP/USD breakout above 1.3300 – 1.3330 area and immediately continue the bullish movement toward 1.3450. It might reach the level soon and without any major bearish reactions, traders better continue holding long positions. On the lower side, 1.3000 – 1.3250 will become the major bullish area to watch when bearish correction happen.

Today’s critical levels to watch:

Support: 1.3150, 1.3050, 1.3000

Resistance: 1.3250

USD/JPY

USD/JPY reached the 142.00 level and breakout below it. A new lower low printed on the chart, and the pair now expected to continue the bearish movement toward 140.00 and 138.00. Nothing changed yet since the pair fell below 150.00. Whenever the pair make a bullish correction, it is a chance for traders to add short positions.

Today’s critical levels to watch:

Support: 140.00, 138.00

Resistance: 142.00, 145.00, 149.20, 150.00

AUD/USD

AUD/USD continue the bullish movement and now has climbed above the triangle pattern. The pair is set to target the 0.6500 and daily SMA 200. When the pair closed above daily SMA 200, it will further confirm bullish continuation in the pair. There is little chance of bearish reversal, unless the U.S. dollar index make a major bullish turn.

Today’s critical levels to watch:

Support: 0.6250, 0.6000

Resistance: 0.6350, 0.6500, 0.6700