EUR/USD - European Session
The pair stabilized around 1.3375 at 50% correction that will be the intraday interval for today showing on graph. While waiting for the Jobs Report today, we notice that Linear Regression Indicators are still negative and MACD tends to be negative. But momentum indicatorsare showing some positivity that requires breaking 1.3375 and stabilizing below it to keep the bearish possibility intraday.
Only a break above 1.3455 fails the bearish extension and triggers a bullish correction before moving back to the downside. On the other hand, breaking 1.3375 pushes the pair to the downside towards 1.3230.
GBP/USD - European Session
Yesterday's daily candle closed below 61.8% correction as showing on graph, and stability below it at 1.6880 indicates the possibility of extending the downside move today to test 1.6795 and perhaps 1.6745. Linear Regression Indicators are negative and AROON is showing the bearish strength. MACD is showing a bearish bias in its signal lines and histogram.
Stability below 1.6940 is the main catalyst to keeping the possibility of a downside move valid, but we prefer to remain below 1.6880 to strengthen the bearish possibility and halt the bullish corrections.
USD/JPY - European Session
USDJPY broke sharply higher, taking the main descending resistance shown on the daily chart above, to retest the 103.00 key horizontal resistance, currently pushing towards that resistance, where a break above that resistance should confirm further bullish bias, targeting 103.75 and 104.15. Holding above 102.20 should keep this bullish bias intact.
USD/CHF - European Session
USDCHF pulled back slightly yesterday, to retest the broken resistance at 0.9080-0.9075, however price maintains the bullish bias, holding above 0.9080 resistance, after taking the major high at 0.9035 which confirmed the bullish breakout and the extension of the bullish wave. The next main target is at 0.9150 resistance level. Holding above 0.9080 should keep the intraday bullish bias intact.
USD/CAD - European Session
USDCAD pulled back slightly yesterday, however maintains the strong bullish breakout above 1.0815 resistance level, and the 200-days SMA, heading towards the 1.0940 next key resistance level. Holding above 1.0815 support level keeps this bullish bias intact, while a break above 1.0815 would confirm further gains.
AUD/USD - European Session
AUDUSD remains under significant bearish pressure, after breaking the key neckline for a head and shoulders top pattern, where holding below that broken support confirms more downside, where the pattern has a target near 0.9200 level just above the 200-days SMA. Accordingly, holding below the 50-days SMA keeps our bearish outlook intact.
NZD/USD - European Session
NZDUSD resumes the bearish bias, holding below 0.8515 resistance level, but also remains above a key support area at the 200-days SMA and the rising trend line for the overall bullish trend, therefore, we prefer to maintain our neutral stance for now, awaiting a clear breakout of this area.
