Forex Technical Major Pairs analysis January 14, 2019

USDX (USD Index)

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U.S dollar index recorded another bearish week after the test of the level near 95.00 support level. Fortunately, the bull reversed the index direction by the end of the week and snatched 95.50 from the bear. There is a chance for the bull to reverse the current bearish trend in the index. However, at the start of this week, the index under pressure and stick near 95.50 support level.

Will the bull make the index rally from current level?

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For full outlook for this week, you can follow Forex Outlook For The Week 14-18 January 2019

Technical Analysis


A breakout above 1.1500 happened in the previous week but there is no weekly close above the level yet. The bull continues its attempt this week to break higher. Traders will continue to monitor the pair reaction near the resistance 1.1500. It is better to wait for a breakout followed by a retest of 1.1500 before placing a long position.

Another long scenario to consider is the retest of bottom of green triangle.

Today critical level to watch:

Support: 1.1400, 1.1360

Resistance: 1.1500, 1.1580


GBP/USD settled above 1.2800 is a major point for the bull and we see the pair climb further upside today despite the weakness in other major currencies against U.S dollar. If there is no change in the sentiment then GBP/USD expected to reach 1.3000 or the daily SMA 200.

 Today Critical level to watch:

Support: 1.2800, 1.2625, 1.2500

Resistance: 1.3000


USD/JPY capped at 109.00 and resume its downward movement. However, the bearish pressure seems losing momentum and currently the pair hanging at the middle of 107.40 – 109.00. No positions suggested in the current situation. Traders might be better to wait for the pair to reach the bottom or the top range of 107.40 – 109.00

Today critical level to watch:

Support: 107.40, 105.00

Resistance: 109.00


AUD/USD advance above 0.7160 in the previous week. This week, the pair started by minor correction to test the level near 0.7160. Traders could use the moment to look for long positions near the level with a tight stop-loss order. The upward target of the bullish move is 0.7300 – 0.7330 or the daily SMA 200.

Today critical level to watch:

Support: 0.7160, 0.7000

Resistance: 0.7200, 0.7300

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