Forex Technical Major Pairs analysis August 14, 2019

USDX (USD Index)

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Forex Technical Major Pairs analysis August 14, 2019

U.S dollar index bounced from below 97.40 and return above the support level yesterday. The index formed a bullish engulfing pattern which indicates further bullish movement if the pattern confirmed. At the current time, no follow-through by the bull yet and the index still waiting for a trigger to move higher.

EUR/USD

Forex Technical Major Pairs analysis August 14, 2019

EUR/USD closed below 1.1185 or outside of the 1.1185 and trendline range. The pair might be in trouble and could continue lower toward 1.1120. Currently, the pair attempting to return above 1.1185 and cancel current breakout. Will the pair manage to return above the level and continue its ranging movement between 1.1185 and the trendline?

today critical levels to watch:

Support: 1.1185, 1.1120, 1.1100

Resistance: 1.1200, 1.1280

GBP/USD

Forex Technical Major Pairs analysis August 14, 2019

GBP/USD settled inside 1.2000 – 1.2100 range and no movement outside of the range yet. The pair expected to continue its ranging movement inside the range with a bearish bias.

Today Critical level to watch:

Support: 1.2000

Resistance: 1.2100, 1.2300, 1.2400

USD/JPY

Forex Technical Major Pairs analysis August 14, 2019

USD/JPY jumped from the level near 105.00 and closed inside 106.70 – 107.00 range. The pair has more upside potential as current bullish movement erased the loss caused by four consecutive daily bearish closes. If the pair corrected lower then the level near 106.10 will become the level to look for long positions.

Today critical levels to watch:

Support: 106.10, 105.00, 104.67

Resistance: 106.70, 107.00

AUD/USD

Forex Technical Major Pairs analysis August 14, 2019

AUD/USD reacted positively in the previous trading day. But the pair traded lower today and might resume its bearish trend. We could see the pair moving inside the blue box area at the current time. Traders could apply ranging strategies with a bearish bias.

Today critical levels to watch:

Support: 0.6700

Resistance: 0.6800, 0.6900

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