USDX (USD Index)
The U.S. dollar index rose and almost reached the daily SMA 200 point as written in the previous analysis. The bullish correction movement seems to have finished with the current movement triggered by the NFP news. If the index then experiences strong bearish pressure, the weakening movement could continue toward the 100.00 – 100.30 area. Traders who already have a short position on the U.S. dollar when an increase occurs can maintain that position.
EUR/USD
EUR/USD fell and swept the stop below 1.0900 today and immediately reversed upwards. Currently, the pair is above the opening point and will try to continue its strengthening. However, the pair has not yet left the range 1.0900 – 1.1000 so there is a possibility that consolidation could continue. The same as before, if the pair is trying to move down then the 1.0900 point and daily SMA 200 are places where traders can consider long positions.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0500
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD fell and tested 1.2625 today. The pair bounced up again with quite strong bullish momentum. If there is no change then the pair will test the 1.2800 point shortly. The situation is still the same where the pair moves in the range of 1.2625 – 1.2800 but is more bullish now. Will this time the pair be able to break out and continue its bullish trend?
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY rose past 145.00 and immediately reversed downwards today. The pair might form a pin bar pattern which is a bearish confirmation for further decline. As previously written, traders will take advantage of the bullish correction that occurs in the pair for short position opportunities. The area 137.70 – 141.00 will be the target for the decline of the pair.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00
AUD/USD
AUD/USD fell and tested the trendline today and formed a fairly strong bullish reaction. It seems that the bullish trend will continue again and traders who entered long positions during the bearish correction can maintain these positions in the hope of forming a higher swing high point. A close above 0.6750 is still needed to confirm the continuation of the bullish movement.
Today’s critical levels to watch:
Support: 0.6700, 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6750, 0.6820, 0.7000