Forex Technical Major Pairs analysis September 14, 2017

USDX (USD Index)

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Rally on the card for U.S dollar index? The bull manages to push the index back above 92.00 which indicate the selling pressure diminish. Currently, it is expected to move between 92.00 – 93.00 before next direction established. There is a possibility the index might continue above 93.00 and targeting 94.00. When the index moves to 94.00, traders might already switch the outlook into short-term bullish.

News to watch

07.00 AM UK MPC Official Bank Rate Votes & Official Bank Rate

08.30 AM U.S CPI & core CPI, expectation 0.2% and 0.3% increase monthly.

08.30 AM U.S Unemployment Claims, estimated 303k benefit claimer in the previous week.

For full outlook for this week, you can follow Forex Outlook For The Week 11 – 15 Sep 2017

Technical Analysis


The bull is losing ground in EUR/USD as the pair slipped below its latest support trend line. EUR/USD move below 1.1925 might mean deeper correction in the card. The pair might target 1.1710 or lower depending on how U.S dollar index performs.

Today critical level to watch:

Support: 1.1820, 1.1710

Resistance: 1.1900, 1.1925, 1.2000, 1.2068


There is possible bearish dark cloud cover, but it is not a perfect one as the opening level of bearish candle stay inside previous day range. Nevertheless, taking out the definition from Investopedia, it is indeed a strong bearish pattern. The candlestick closed below the midpoint and traders will wait for confirmation close below Wednesday “Close” level for short position.

Today critical level to watch:

Support: 1.3200, 1.3100

Resistance: 1.3250, 1.3300


USD/JPY up sharply and erase all losses incurred in the previous slide below 109.00. Currently, the pair is testing the bearish trend line as expected and odds favor for breakout upside. Traders might not want to short at current strong momentum and wait until the pair either make it or reverse sharply near the resistance.

Today critical level to watch:

Support: 109.00, 108.80, 108.10, 107.40, 107.00

Resistance: 110.50


AUD/USD closed below 0.8000 handles but stay above the support trend line. Today, the pair immediately move above 0.8000 attempts to avoid further sell-off below the trend line. If the pair could maintain the price above 0.8000, it might lead to bullish bounce and leave the support trend line behind.

Today critical level to watch:

Support: 0.8000, 0.7970, 0.7900

Resistance: 0.8100

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