USDX (USD Index)
There is no bullish reaction on the U.S. dollar index after the decline below the daily SMA 200 point. The index continues to add bearish pressure and moves away from the daily SMA 200 SMA. It seems that the decline will continue with the 100.00 – 100.30 point as the target. If there is a bullish correction to the daily SMA 200 point then it is an opportunity for traders to enter a short position.
EUR/USD
EUR/USD reached 1.1000 today thus completing the expected bullish scenario. The pair could immediately continue its bullish movement and head towards 1.1120 and 1.1185 next. However, if the pair makes a bearish correction to 1.0900 or 1.0800 then it is an opportunity for traders to add long positions.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0500
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD broke above 1.2625 and opened room for strengthening towards 1.2800. The pair will continue its bullish trend and traders will continue to apply the buy-on-weakness strategy. Currently, point 1.2625 will be the support point where traders consider long positions when a bearish correction occurs.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY slides down with strong bearish momentum. This signals the start of a continuation of the bearish movement towards 145.00 and 142.00. Or it could be said that the trend has turned bearish for the pair and traders who have entered short positions near 150.00 can hold those positions.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD managed to close above the daily SMA 200 point and today there is a continuation of the bullish movement with quite strong momentum. If there is no change in the situation then the pair can reach the points 0.6700 and 0.6750 soon. If a bearish correction occurs then traders can use the daily SMA 200 point as a place to enter a long position when a bullish reaction 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