Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Euro Moves Within Tight Range, GBP Attempts Incline

Published 05/16/2016, 06:15 AM
Updated 07/09/2023, 06:31 AM

USD/JPY

USD/JPY has been stopped by SMA50 below 109.60, while RSI 14 also has been stopped by the momentum resistance of 50.00.

USD/JPY Chart

However, the support of 107.90 could provide support to bears from the underside.

Trading between those two levels is a sign of neutrality until we witness a break of one of them.

Support: 108.30-107.90-107.30

Resistance:109.20-109.65-110.00

Direction: Neutral

EUR/USD

Euro moved within a tight range in Asian session, hovering around SMA50 and below 38.2% Fibonacci at 1.1315.

EUR/USD Chart

Trading blow 1.1315 is negative and would extend the bearishness as far as 1.1430 holds, and preferably as far as 1.1385 holds.

Support: : 1.1285 – 1.1220 – 1.1175

Resistance: 1.1315 –1.1385 – 1.1430

Direction: Bearish

GBP/USD

GBP/USD has attempted to incline during the Asian session along with positivity on RSI, while ADX remains weak along with trading below 50% Fibonacci at 1.4385-1.4390, which is a negative signal.

GBP/USD Chart

Bears are targeting 1.4295 as a first target, while a break below it will cause acceleration as far as 1.4385 holds.

Support: 1.4345 – 1.4295 – 1.4220

Resistance: 1.4385 – 1.4425 – 1.4480

Direction: Bearish

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.