USDX (USD Index)

We might have a bullish confirmation of the “W” pattern in the U.S dollar index. The index climb above the pattern neckline today. If the bullish pressure is maintained then we will see the index heading toward the 92.00 – 93.00 area next. However, if the index reverses and closed inside the blue box area then traders will need to monitor the index movement inside the area again.

EUR/USD

EUR/USD extended its bearish movement today after the previous day close below 1.2070. The pair set to target 1.2000 support level next. If the pair closes below 1.20000 then traders will prepare for a deeper bearish correction toward 1.1820

today critical levels to watch:

Support: 1.2000, 1.1820

Resistance: 1.2070, 1.2200

GBP/USD

GBP/USD slightly lower and tested the level near 1.3600. There is no breakout below the support level and currently the pair trading near its opening level. Will the pair continue its bullish movement and target 1.3835, 1.4000 resistance level? Alternatively, will it close below 1.3600 and extend the weakness toward 1.3450?

Today Critical level to watch:

Support: 1.3600, 1.3450, 1.3330, 1.3300

Resistance: 1.3835, 1.4000

USD/JPY

USD/JPY moving bullishly and attempting to surpass the 105.00 resistance level. The pair currently moving above the resistance level and looking to extend its bullish movement toward daily SMA 200. As long as there is no bearish reaction, traders will avoid short positions.

Today critical levels to watch:

Support: 104.00, 101.50, 101.19

Resistance: 105.00, 106.00, 106.70

AUD/USD

AUD/USD continues its weakness below the 0.7640 support level. The pair almost reach the 0.7500 – 0.7550 area today. We think the pair will reach the support area soon and test it. If the pair could form a major bullish reaction at the support area then the pair might reverse its direction and continue the long-term bullish trend.

Today critical levels to watch:

Support: 0.7550, 0.7500

Resistance: 0.7640, 0.7700