USDX (USD Index)
The U.S. dollar index has officially fallen below the daily SMA 200 and also formed a lower low. The trend of the index was bearish before the interest rate announcement by the Fed. Due to current events, it seems that market players will ignore whatever is announced by the Fed and push the index further lower. It is possible that after the announcement there will be a sharp upward reaction and change the movement map of the U.S. dollar index.
EUR/USD
EUR/USD continued its strengthening after closing above 1.0900. The pair immediately reached the 1.1000 mark to test it. Because the trend is bullish, traders should not enter short positions until a lower swing low point is formed. For now, traders can wait for a bearish correction for the opportunity to add long positions near the support point.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD has left the range of 1.2625 – 1.2800 so this confirms the continuation of the bullish movement in the pair. The next upside target is 1.3000 and traders can use 1.2800 as a place to enter long positions when a bearish correction occurs. The trend is bullish so traders should only use the opportunity to enter long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY immediately reached 147.00 and almost touched the daily SMA 200 today. The pair is in a bearish situation and will soon test the support points. If there is a close below the daily SMA 200 and a lower swing low is formed then the bearish trend will continue. Meanwhile, if an upward bounce occurs, traders will use this opportunity to enter short positions near the resistance point.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD managed to return above the daily SMA 200 point and immediately increased with strong bullish momentum yesterday. The upward movement continues today where the pair almost reached the 0.6700 point. The direction of the movement is bullish after the pair returns above the daily SMA 200 and a higher high is formed. Traders can use the daily SMA 200 point as a place to enter long positions if a bearish correction occurs.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000