USDX (USD Index)

The index closed near SMA 200 and provide us with a neutral outlook. This week, the index has not shown any major momentum movement yet. It might stick near the SMA 200 for now while waiting for the next direction. We think the deal or no deal decision on a trade deal between U.S-China will become the major decisive factor to determine the index direction this week.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 09 – 13 December 2019

EUR/USD

EUR/USD significantly lower in Friday trading session but no follow-through on the bearish pressure yet. The pair closed inside the Friday range yesterday and might continue trading sideways now. Which direction the pair will move next? It will depend on the U.S-China trade deal development.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185

GBP/USD

GBP/USD maintains the position above 1.3125 and set to continue its upward movement toward 1.3250. No change to the outlook yet. If the pair make bearish correction toward the 1.3000 then traders could look for long positions. On the upside, we think 1.3250 is a temporary target and the pair could continue toward 1.3500 for the long-term.

Today Critical level to watch:

Support: 1.3125, 1.3000, 1.2800, 1.2625

Resistance: 1.3250

USD/JPY

USD/JPY drifter lower slowly below the SMA 200 and getting near the trendline. No conclusion on the next direction yet and traders will continue waiting sideline for now.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 109.00, 110.00

AUD/USD

AUD/USD slipped below 0.6820 today and the pair keep moving lower now. If the pair closed below the support level then traders could expect the bearish continuation movement toward 0.6750. On the other hand, if the pair could close above the support level then expect further consolidation inside the green box area.

Today critical levels to watch:

Support: 0.6820, 0.6800, 0.6750, 0.6700

Resistance: 0.6900