USDX (USD Index)

More bullish close happened in U.S dollar index. The index closed above 98.25 and suggesting further upward movement in coming days. Today, there is no bullish follow-through by the bull yet. If the index moves lower then 98.25 expected will provide support. We have 100.00 as upside target in the medium-long-term.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 19-23 August 2019

EUR/USD

The bear has an upper hand and no bullish close on the daily chart since rejection from the trendline. The pair has more bearish potential and traders could look for short positions near 1.1120. A close below August, 1 candlestick low is the confirmation for the pair to move further lower.

today critical levels to watch:

Support: 1.1000

Resistance: 1.1100, 1.1120, 1.1185

GBP/USD

GBP/USD return below 1.2100 and might continue inside 1.2000 – 1.2100. The pair currently testing 1.2100 support level. Will it close above 1.2100 and extend its bullish correction toward the channel?

Today Critical level to watch:

Support: 1.2000

Resistance: 1.2100, 1.2300, 1.2400

USD/JPY

USD/JPY continue its consolidation between 106.10 – 107.00. Recently, the pair rejected from 106.70 and might reach 106.10 soon. Traders could continue to apply ranging strategies in USD/JPY as long as the pair stay inside 106.10 – 106.70 range.

Today critical levels to watch:

Support: 106.10, 105.00, 104.67

Resistance: 106.70, 107.00

AUD/USD

There is no change to the current outlook of AUD/USD yet which inside the blue box area. The pair will continue its consolidation inside the blue box area until breakout happens. No clue on the next direction yet.

Today critical levels to watch:

Support: 0.6700

Resistance: 0.6800, 0.6900