GBP/USD has inclines with the opening of the European session, trading above 1.4525 zone and that means traders are taking out moving averages.
ADX shows positive crossover, while RSI stabilizes above 50.00 levels, which offer positive signals that may extend the bullishness.
As far as 1.4435-SMA50- holds, we will be bullish on GBP/USD pair.
Support: 1.4525 – 1.4435 – 1.4380
Resistance: 1.4600 – 1.4660 – 1.4755
Direction: Bullish attempt
EUR/USD has moved bearishly with the opening of this week, but it is still limited above 61.8% Fibonacci, which offers a positive factor.
Trading above 1.1005 is positive, while 1.1000 protects the bullishness from the underside and trading above 1.1120 is good for intraday traders.
ADX remains bullish, while moving averages continue to carry the bullishness from the underside.
To recap, we remain bullish on EUR/USD.
Support: 1.1120 – 1.1040 – 1.1005
Resistance: 1.1200 –1.1285 – 1.1385
Direction: Bullish
The pair has reached our technical target defined last week at 0.9915 where it met 23.6% Fibonacci to start some kind of consolidation.
Stability below moving averages and below 38.2% Fibonacci should provide bearish pressures; however, we will be patient until the pair clears the afore-mentioned support to follow through.
All eyes should be also on 0.9993 where 38.2% Fibonacci exists, as breaching it may bring further upside correction.
Support: 0.9915-0.9855-0.9790
Resistance: 0.9960-1.0000-1.0050
Direction: Neutral, but bearish below 0.9915
According to our previous analysis, the USD/JPY pair has plummeted towards 116.40-116.30 zones, which represent one of our detected targets, but this support has pushed the pair again upwards again.
Currently, USD/JPY is trading below 23.6% Fibonacci at 117.75, while RSI and ADX couldn’t give off reliable signals for the next big move.
Hence, it is better to stand aside, as risk versus reward ratio is inappropriate.
However, any sharp attacks on intraday support of 116.80 may bring the bearish picture back into focus.
Support: 117.00-116.30-115.90
Resistance: 117.75-118.30-118.80
Direction: Neutral