Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Monday's Technical Report: GBP/USD, USD/CHF, USD/JPY, EUR/USD

Published 06/29/2015, 06:09 AM
Updated 07/09/2023, 06:31 AM

GBP/USD

GBP/USD has stabilized below SMA20 and SMA50, while RSI14 traded below 50.00. Therefore, more bearishness awaited.

GBP/USD 4-Hour Chart

Of note, moving below 1.5780 will keep chances for the bearishness and breaching 1.5700 will accelerate.

Support: 1.5700-1.5650-1.5590

Resistance: 1.5780-1.5815-1.5880

Recommendation: Bearish below 1.5780 and risk limit at 1.5880.

USD/CHF

Finally, USD/CHF succeeded in breaching the main resistance line that dominated the short-term market trend as seen on the provided graph. USD/CHF Daily Chart

Stability above moving averages in addition to the above-mentioned factor could trigger more upside actions over upcoming sessions.

The path will be cleared towards 0.9540 once the USD/CHF breaches through 0.9405.

Support: 0.9350-0.9300-0.9260

Resistance: 0.9405-0.9450-0.9500

Recommendation: Positive above 0.9350 with risk limit at 0.9245

USD/JPY

Respecting our Friday’s scenario, the USD/JPY has plunged touching technical target zones at 122.40.

USD/JPY 4-Hour Chart

Negative signs are still appearing on the four-hour graph an d bigger time frames.

A clear break below 122.40 will accelerate the bearish wave, which we expect for this week.

Support: 121.90-121.50-120.60

Resistance: 122.90-123.75-124.00

Recommendation: Negative below 122.75 with risk limit at 123.85

EUR/USD

EUR/USD has failed again to stabilize above SMA20 and is currently trading below 38.2% at 1.1200.

EUR/USD 4-Hour Chart

Trading below 1.1290 is a negative signal, while coming below 1.1200 will affirm the bearish scenario.

Support” 1.1170-1.1125-1.1055

Resistance: 1.1200-1.1260-1.1290

Recommendation: Selling is preferable with targets at 1.1125 and 1.1055. Stop loos at 1.1300.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.