GBP/USD attempts to incline, trading above moving averages at 1.4460 and 1.4420 respectively.
Meanwhile, we can’t affirm the bullishness unless the pair takes out 1.4525, as a break above it will be a good signal for buyers.
ADX shows weakness in uptrend strength and RSI moves above 50.00, but remains weak; thus, we will be neutral.
On the downside, a breakout below 1.4350 will renew the bearish pressures.
Support: 1.4440 – 1.4400 – 1.4350
Resistance: 1.4525 – 1.4585 – 1.4600
Direction: Neutral between 1.4350 and 1.4425
EUR/USD inclined yesterday despite the weak actions seen in the Asian session, but we may witness additional upside movements, targeting 88.6% Fibonacci at 1.1385.
Stable moves above 61.8% Fibonacci at 1.1120 is required to keep the bullishness valid, while 1.1200 should be the floor for intraday trading.
Anyway, coming above 1.1285 is a very positive signal and may negate any corrective actions.
Support: 1.1250 – 1.1200 – 1.1120
Resistance: 1.1310 –1.1385 – 1.1430
Direction: Bullish
The USD/CHF pair has achieved additional bearish actions yesterday as anticipated, approaching 76.4% Fibonacci level at 0.9672 and traders have taken RSI to trade below the value of 30.00 as seen on the provided daily chart.
The bearishness may continue, but a break below the aforesaid level is required to avoid any over sold signs and to accelerate the bearish wave more.
On the upside, 0.9800 should provide intraday traders with protection.
Support: 0.9700-0.9675-0.9630
Resistance: 0.9785-0.9805-0.9855
Direction: Bearish
As discussed yesterday, RSI14 has reached the value of 30.00, which caused continuous fluctuation during the previous three sessions.
Despite showing strong fluctuation, but the USD/JPY showed bearish tendencies that argues us to hold onto our bearish scenario following the break below 115.90, which acts as a resistance.
A break below 114.25-114.20 zones will make us neglect any oversold signals on momentum indicators.
To recap, we remain bearish on the pair as far as 115.90 hold.
Support: 114.20-113.90-113.60
Resistance: 115.50- 115.90-116.30
Direction: Bearish