USDX (USD Index)

U.S dollar index is in a troubling situation as the index opened lower below 98.25 support level. The bearish pressure continues mounting on the index as optimism on U.S-China trade negotiation grows. If the index could close above 98.25 then it might avoid further bearish pressure. At the current time, the index is attempting to close above 98.25.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 9-13 September 2019

EUR/USD

EUR/USD maintained the level above 1.1000 and trying to extend its gain. The pair move higher today and soon will reach the nearest trendline. Traders could enter long positions whenever bearish correction toward 1.1000 happen.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120

GBP/USD

GBP/USD traded inside the bearish channel and pushed lower today. But, the bearish pressure does not last and currently, the pair has traded above Friday high. We expect GBP/USD to continue its movement inside the bearish channel.

Today Critical level to watch:

Support: 1.2300, 1.2100, 1.2000

Resistance: 1.2400

USD/JPY

USD/JPY climb above 107.00 handles today, will it close above the resistance and continue the bullish trend? Traders will observe and wait for the closing level of USD/JPY today to determine the pair next direction. A long position between 106.70 – 107.00 could become an option if USD/JPY managed to close above 107.00.

Today critical levels to watch:

Support: 106.70, 106.10, 105.00, 104.67

Resistance: 107.00, 107.40

AUD/USD

AUD/USD launched upward above the blue box area and marking the start of a new bullish leg. The pair have entered the fifth bullish day and getting near to the top of the bearish channel. We might see some reaction near the top of the channel. If the bull could push the pair above the top of the channel then 0.6900 and 0.7000 will become the target to watch.

Today critical levels to watch:

Support: 0.6800, 0.6700

Resistance: 0.6900