Forex Technical Major Pairs analysis September 11, 2019

USDX (USD Index)

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Forex Technical Major Pairs analysis September 11, 2019

U.S dollar index falls below 98.25 in today trading session but manages to recover above its opening level. At the current time, the index looking to add gain and print higher high above 98.50. If the bull could close the index above 98.50 or previous day high then we might see further bullish movement to test 99.40.

News to watch

10.30 AM U.S Crude Oil Inventories, forecast deficit of 2.7 million barrels.

For full outlook for this week, you can follow Forex Outlook For The Week 9-13 September 2019

EUR/USD

Forex Technical Major Pairs analysis September 11, 2019

EUR/USD slightly lower in today trading session but still moving between 1.1000 and trendline. We expect the pair to continue moving inside both levels until tomorrow ECB event. No clue on the next direction, it is possible ECB will throw stimulus into the market and cause EUR/USD to jump above the trendline.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120

GBP/USD

Forex Technical Major Pairs analysis September 11, 2019

GBP/USD continues its movement inside the bearish channel. No change to the outlook, the pair expected to trade sideways. Traders could look for short positions near the top of the channel when there are bearish reactions.

Today Critical level to watch:

Support: 1.2300, 1.2100, 1.2000

Resistance: 1.2400

USD/JPY

Forex Technical Major Pairs analysis September 11, 2019

The bullish movement of USD/JPY continues above 107.40 without much trouble. There is no end yet for the current bullish pressure and USD/JPY might extend its gain toward 109.00. Traders could look for long positions when the pair make the bearish correction and test 107.40.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 109.00

AUD/USD

Forex Technical Major Pairs analysis September 11, 2019

AUD/USD soon will reach the top of the channel. It is expected to react bearishly and start a new bearish leg. Traders will monitor the pair reaction before placing any positions. Without major reversal from the top of the channel, AUD/USD might be able to continue upward and target 0.7000.

Today critical levels to watch:

Support: 0.6800, 0.6700

Resistance: 0.6900

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