USDX (USD Index)
The bear is in control in the previous week but could not close U.S dollar index below 94.00. This week, traders and investors will watch The Fed interest-rate decision. Before the release of the news, we think U.S dollar index will stick inside the range between 94.00 – 94.30.
News to watch
09.00 AM ECB President Draghi Speaks
For full outlook for this week, you can follow Forex Outlook For The Week 24 – 28 September 2018
Technical Analysis
EUR/USD
EUR/USD climbed to the range 1.1710 – 1.1820 in the previous week. The bullish development in the pair could continue if the bull could maintain pair above 1.1710 by the end of the week. There will be a lot of volatility when The Fed announce interest-rate this week and traders will watch where the pair settle after the news.
Today critical level to watch:
Support: 1.1710, 1.1650, 1.1600
Resistance: 1.1820
GBP/USD
Bearish reaction happened at the daily SMA 200, GBP/USD tumble and closed near 1.3050. The bearish reaction might turn into a full-scale bearish trend if the bear could push GBP/USD below 1.3000. There is no breakout yet and the bull still has a chance to bring the pair higher to trade between 1.3000 – 1.3250.
Today critical level to watch:
Support: 1.3100, 1.3000
Resistance: 1.3125, 1.3250,1.3300, 1.3330
USD/JPY
USD/JPY attempt to move above 112.50 and distance itself from the level. However, the pair closed near its opening level at the end of the week and suggest neutral situation. The bull still has a chance to push the pair toward 113.20 before the pair makes a correction.
Today critical level to watch:
Support: 112.50, 112.00, 111.00, 110.50
Resistance: 113.00, 113.20
AUD/USD
AUD/USD completed the bullish leg toward 0.7300 – 0.7330. The pair opened lower on Monday which suggest possible rejection from the resistance area. No clue yet on the next direction, traders will continue to watch the price development near the resistance.
Today critical level to watch:
Support: 0.7160, 0.7100, 0.7000
Resistance: 0.7300, 0.7330