USDX (USD Index)
U.S dollar index continue trading sideways for now as traders waiting for the update on U.S-China tariff talk. We might see some movement this week, but traders will expect the heavy sideways movement this month. Next month, we might see major movement after tariff pause nearing deadline. If the pause extended, then the sideways situation might continue. On the other hand, if there is deadlock, and tariff applied, then traders could expect downturn in the global market.
Meanwhile, the best scenario is all countries reach a consensus on the tariff and somehow reach agreement, then the situation will turn bullish.
EUR/USD
EUR/USD is currently trading between 1.1300 – 1.1500. The pair situation is bullish and slowly grinding upward. If there is no change to the situation, then traders could expect bullish continuation. However, if major bearish reversal happen, then the pair might target 1.1000 on the lower side.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD is currently trading between 1.3450 – 1.3600 area and pressuring to the upside. The pair might attempt for breakout and bullish continuation to target 1.3835 and 1.4000. On the lower side, if bearish breakout below 1.3450 happen, then the pair might return to 1.3250 to retest the level.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY moving upward with moderate bullish pressure Friday and closed near 145.00. The pair got rejected today, but the bearish pressure slowly fading. We might see the pair continue stick near the 145.00 level for now. If the pair breakout higher, then there is chance of bullish continuation to target the green box area. On the lower side, if breakout and close below 142.00 happen, then the pair will continue the bearish trend.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD stick near the 0.6500 level and continue attempting to continue the bullish movement. No confirmation yet on whether the pair could continue the bullish trend or just trading sideways inside the green box area. If the pair pushed lower, then traders could wait near the daily SMA 200 or the bottom of green box area for chance to add long positions.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700