USDX (USD Index)

U.S dollar index launched upward from the support 98.25. The index continues its upward movement and almost reach 99.40 resistance. Without any change in the trend, it seems the index will test 99.40 and extend its uptrend toward 100.00.

News to watch

08.30 AM U.S Core Durable Goods Orders m/m, forecast 0.2%

U.S Personal Spending m/m, forecast 0.3%

For full outlook for this week, you can follow Forex Outlook For The Week 23-27 September 2019

EUR/USD

A breakout of triangle pattern on the daily chart has happened and EUR/USD moving lower smoothly. Traders might not expect any bullish reversal soon and the pair might continue its downward movement to target parity 1.0000 in the long-term.

today critical levels to watch:

Support: 1.0900

Resistance: 1.1000, 1.1120

GBP/USD

GBP/USD moves lower and returns inside the bearish channel. It means the pair will continue its bearish trend inside the channel. However, Brexit deadline ticking and after the announcement, it could trigger major volatility in the pair. At the current time, traders suggested staying sideline until the announcement.

Today Critical level to watch:

Support: 1.2300

Resistance: 1.2400, 1.2500, 1.2600

USD/JPY

USD/JPY bounced from 107.00 support level and extend its bullish pressure today. We expect the pair to move further higher and target 109.00 also SMA 200. It is better to wait for sideline if traders have not entered any long positions.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 109.00

AUD/USD

AUD/USD is testing the bottom of the blue box area and risks further weakness below it. No bounce indication at the current time. If no breakout happens then AUD/USD might trade inside the blue box area with a bearish bias.

Today critical levels to watch:

Support: 0.6700

Resistance: 0.6800, 0.6900