EUR/USD - European Session
The pair dropped yesterday failing the bullish attempt, as we notice the pair's inability to stabilize above the resistance 1.3625. The pair also failed to remain stable above Linear Regression Indicator 34 which is negative and could lead to an attempt to break 1.3570 and continue to the downside.
Stochastic is almost achieving a negative crossover and RSI is trading below line 50 supporting the possibility of extending the downside move. Of note, breaking 1.3520 later is significant to confirm this negative outlook.
GBP/USD - European Session
The pair is facing difficulty in breaking the minor support 1.7105. The bearish attempts also remained limited above 1.7080 which worries us in regards to the negative expectations we bet on to extend the bearish correction. Generally, trading is still limited below 1.7185 which is negative.
We keep our negative expectations today as long as the pair doesn't breach 1.7185, as breaching this level and stabilizing above it could trigger another strong bullish wave. From the downside, a break below 1.7080 extends bearishness.
USD/JPY - European Session
The USD/JPY settles near the bottom of the overall sideways range shown on chart, as the price found support at 101.20 level failing to close yesterday’s session below it, and that keeps the bullish rebound possible. However, we prefer to wait for a confirmation signal through breaking back above the 100.45-intraday resistance.
USD/CHF - European Session
USD/CHF bounced off 0.8905 support level yesterday, which is main support level for the pair today, holding above the latter keeps the bullish chances intact, targeting a retest of the 200-days SMA. On the other hand, failure to hold above 0.8900 will probably extend the downside towards the latest swing low at 0.8860.
USD/CAD - European Session
USD/CAD retreats again, pushing towards the main rising trend line for the overall bullish trend, holding above that trend line is the main requirement for the bullish rebound scenario, which remains valid as long as price is above 1.0560. We anticipate a bullish correction towards the main descending resistance for the ongoing bearish wave as shown on the daily chart above.
AUD/USD - European Session
AUD/USD fluctuated yesterday, after testing 0.9425 resistance level, where price is attempting to resume the bearish correction after breaking the main rising trend line. The bearish bias remains favored so long as below 0.9425, where a break back below the 50-days SMA and 0.9325 support what is needed now to confirm a deeper bearish move.
NZD/USD - European Session
NZD/USD maintains the bullish bias, pushing towards he projected resistance and upside target at 0.8835, where the price remains above the main broken resistance level at 0.8780, and that keeps the bullish bias over intraday basis dominant. A break above 0.8835 should confirm further upside, and target 0.8900 level. The overall bullish bias remains favored as long as above 0.8715.
