Forex Technical Major Pairs analysis May 28, 2020

USDX (USD Index)

Free $100 Forex No-Deposit Bonus

The U.S dollar index extended its bearish movement and soon will reach the daily SMA 200 also the bottom of the green box. No change to the outlook yet at the current time. Traders will wait until the index reaches the support level and reacted according to the bounce or breakout which happens.

EUR/USD

EUR/USD making a bullish attempt toward the daily SMA 200 and looking to breakout above the resistance level. No breakout confirmation yet which means the pair could reverse and start moving bearishly toward 1.0800 – 1.0900. Traders who have long positions could continue to hold the positions for now.

today critical levels to watch:

Support: 1.0900, 1.0800, 1.0650

Resistance: 1.1000

GBP/USD

GBP/USD bounced from the 1.2200 level with strong bullish momentum. However, the bullish movement immediately experienced selling and the price closed lower yesterday. As long as the pair making a higher high and lower high, we think the pair could continue its bullish movement and target 1.2625.

Today Critical level to watch:

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

No major bearish reaction from the 108.00 resistance level and the daily SMA 200. USD/JPY continues its consolidation near both resistances levels. If the pair could close above both resistances levels then traders will expect the bullish continuation in USD/JPY. On the other hand, rejection from the resistance level will lead the pair down and target 106.70 and 105.00.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00

AUD/USD

AUD/USD reached the daily SMA 200 target and show no major bearish reaction yet. The pair currently stick near the averages and looking to add gain toward 0.6700. As long as there is no major bearish reaction then traders might want to avoid taking short positions.

Today critical levels to watch:

Support: 0.6500, 0.6300

Resistance: 0.6700

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.