USDX (USD Index)

U.S dollar index extends its bullish correction toward 93.00 resistance level. We could see a bearish channel where the index is expected to test and continue its bearish trend. If the index rejected from the 93.00 and the top of the channel then traders could start entering short positions in the U.S dollar.

EUR/USD

EUR/USD confirmed the bearish pin bar pattern formed on Tuesday. The pair closed lower yesterday and there is bearish follow-through toward 1.1820 today. Traders will observe the closing level of today’s trading session. If the pair closes below 1.1820 then EUR/USD will trade between 1.1710 – 1.1820 next.

On the long-term view, the pair trend is bullish, traders could consider entering long positions when there is a major bullish reaction from the support levels.

today critical levels to watch:

Support: 1.1820, 1.1710, 1.1600, 1.1580

Resistance: 1.2000, 1.2070

GBP/USD

The bearish pressure on GBP/USD pushed the pair down and reach 1.3250. No bullish reaction and the bearish pressure has significant strength. If the pair could hold the positions above 1.3250 then traders will expect a bounce to happen soon.

Today Critical level to watch:

Support: 1.3300, 1.3250

Resistance: 1.3450, 1.3600

USD/JPY

USD/JPY rejected from the level near 106.70 today. The pair looks will close the day near the opening level and form a bearish pin bar pattern. No conclusion yet on the pair next direction but we think the pair will resume its long-term bearish trend below 105.00.

Today critical levels to watch:

Support: 105.00, 101.19

Resistance: 106.00, 106.70, 108.00

AUD/USD

AUD/USD started a bearish correction as the pair fall below 0.7330. At the current time, the pair expected to move lower and target 0.7160 support level. Traders could use the support level as the place to look for long positions when there is a bullish reaction.

Today critical levels to watch:

Support: 0.7160

Resistance: 0.7330, 0.7450, 0.7500