Sterling vs. dollar is moving above 61.8% Fibonacci at 1.5700, which is a positive sign.
RSI14 started to move higher comparing with yesterday’s signal, while ADX is also positive.
Therefore, we believe that the bullishness is valid with targets at 1.5760 and 1.5800 respectively as far as 1.5630 holds.
Support: 1.5680 – 1.5630 – 1.5600
Resistance:1.5720 – 1.5760 – 1.5800
Direction: Up
EURUSD has soared, reaching 78.6% Fibonacci at 1.1295-1.1300, while RSI shows overbought signs and that would bring corrective actions.
Although, we don’t prefer the correction entries, but we will suggest potential pullback ahead of weekly closing that could be a profit booking process.
However, breaching 1.1300 will ease the path towards 1.1360 at 61.8% Fibonacci.
Support: 1.1220 – 1.1200 – 1.1185
Resistance: 1.1295 – 1.1320 – 1.1360
Direction: Up but we may witness some kind of correction.
USDCHF has blasted through 50% Fibonacci level, clearing SMA50 as seen on the provided graph.
The path becomes clear towards next Fibonacci support, reinforced by RSI and ADX.
Bigger picture is turning negative, as the weekly candle is very negative until now ahead of the closing today and coming below 0.9475 will open the door up towards 0.9320.
Support: 0.9500-0.9400-0.9320
Resistance: 0.9620-0.9660-0.9700
Direction: Bearish
USDJPY has been able to hit SMA50, reaching the previous detected level of 123.00, which was our yesterday’s proposed target.
Coming below SMA50 and negative signs on technical indicators would bring further debasement over upcoming sessions.
Eyes are on 121.90, which could the main target for intraday bears.
Support: 122.60-122.40-121.90
Resistance:123.50-123.80-124.50
Direction: Bearish