USD/JPY has been resisted at 118.85 zones where it declined and continued to fall during the Asian session, re-attacking 117.80, which is the key for more bearish intraday actions.
ADX started to be negative although the strength signal isn’t enough to affirm the negativity, but the bearish crossover is a good signal for bears.
We will be bearish today; noting that, a break below 117.30 will confirm and accelerate.
Support: 117.30-116.80-116.15
Resistance: 118.00-118.30-118.85
Direction: Bearish
Struggle continued very close to 1.0130-1.0135 , which are very sensitive areas as seen on the provided daily chart.
Momentum and trend indicators don’t give off any sign that we can depend on to suggest potential direction.
Hence, we will be on the sidelines today, as risk versus reward ratio seems to be inappropriate for intraday trading.
On the downside, a break below 1.0060-1.0055 will actuate bears to add more shorts.
Support: 1.0100-1.0050-1.0030
Resistance: 1.0135- 1.0180-1.0220
Direction: Sideways
EUR/USD attempts to stabilize above moving averages and above the main resistance of the bearish trend at 1.0850, while ADX moves positively and RSI breaks 50.00 levels.
Hence, we are bullish, but we need a breakout above 1.0890 followed by 1.0935 to affirm the bullishness; noting that, any trading above 1.0790 is positive.
A break below 1.0790 will make us change our overview; thus, we will not recommend any positions now due to the sensitivity of current trading levels.
Support:1.0790 – 1.0850 – 1.0745
Resistance:1.0890 –1.0935 – 1.0985
Direction: Bullish, but we will avoid trading now.
Strong increase in bulls’ power has been seen on ADX of the four-hour interval along with breakout attempt below 1.4190 where 127.2% Fibonacci exists.
A break below this level is essential to affirm the bearishness, but RSI shows the ability to breach the value of 50.00, which is a negative signal.
We will be bearish, but 1.4190 is the key for resuming the downtrend.
Support: 1.4190 – 1.4100 – 1.4060
Resistance:1.4245 – 1.4290 – 1.4390
Direction: Bearish with confirmation below 1.4190