USDX (USD Index)
U.S dollar index pointing upward and print new higher high which mean the bullish movement could continue now. On the upside, the 100.00 level and the green box area will become the target to watch. If the long-term bearish trend to continue, the index needs to stay below 100.00 and avoid printing new higher swing high.
EUR/USD
EUR/USD officially in a bearish correction phase with 1.1500 – 1.1580 area as support. If the pair could maintain the positions near the area and bounce upward with strong momentum, then the bullish trend could continue. A close below 1.14544 might delay / cancel the bullish trend and prompt for deeper bearish correction. Overall, we maintain a bullish outlook on the pair and will keep using each bearish correction as a chance to enter long positions.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD under bearish pressure and slice below 1.3450 support level. No bullish reactions yet for now, which mean better to wait for further confirmation. If the pair could bounce upward strongly from the current level, then it will print a bearish fake out situation. Traders will monitor closely the pair reactions near the current level, especially for bearish fake out below the previous swing low.
Today’s critical levels to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300
Resistance: 1.3800, 1.4000
USD/JPY
USD/JPY keep gaining and soon will retest the previous swing high level. The pair seems to continue gaining and might target the 150.00 and daily SMA 200. As the pair keep printing new higher high, it is better to wait and see until a major bearish reversal happen to enter long positions.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD turn lower today and almost erase the strong bullish move last Thursday. On the lower side, 0.6500 is the support level to watch. If the pair swept lower and return above 0.6500 with strong bullish reactions, then it is strong signal to enter long positions. However, if there is no confirmation and the pair keep falling, then the daily SMA 200 could become a target.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700