USDX (USD Index)
U.S dollar index gaining with strong momentum where it looks will continue toward the 100.00 level. The long-term trend still bearish, but short-medium term turning bullish. Under current situation, we will wait near the 100.00 level for bearish reaction. When the index reaches the level and forms major bearish reaction, traders could enter short positions in U.S. dollar.
EUR/USD
EUR/USD breakout below 1.1710 with strong bearish momentum. The pair might continue lower to target the 1.1580 level now. A close below 1.1580 might become the confirmation that the trend has turned bearish. For now, traders will wait near support level for bullish reactions. When there are bullish reactions, traders could enter long positions.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD breakout below 1.3450 and the trend line. It moves lower with strong momentum and reached the 1.3300 – 1.3330 area. There is chance of bearish continuation to test the 1.3250 and daily SMA 200. As planned before, traders will wait near the levels for bullish reactions. When there is strong bullish reactions, traders could enter long positions with stop level below 1.3125.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY closed above the daily SMA 200 and there is bullish follow-through. The pair reached the 150.00 level and will test it now. We could say the current situation looks bullish and might trigger a trend change. However, we maintain the view that as long as the pair stay below the green box area, the trend is bearish.
Today’s critical levels to watch:
Support: 149.20, 145.00, 142.00,
Resistance: 150.00, 151.00
AUD/USD
AUD/USD fall with strong bearish momentum and immediately reach the bottom of green box area. There is nothing to do yet as the bearish movement has strong momentum. When the pair could stabilize and bounce upward strongly, it is the signal to enter long positions. Traders who want to speculate with long positions could enter with stop below 0.6500.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700