Presently, the USDJPY pair hovers around SMA20 once again below the sensitive level of 120.60 and above the support line.
The above-mentioned facts force us to remain on the sidelines, waiting for a reliable sign to enter the market again.
A break above 120.60 would bring a re-test of SMA50-colored in red-, while coming below 119.60 will end the strong upside recovery.
Support: 119-60-119.35-118.80
Resistance: 120.25-120.60-121.05
Direction: Sideways, but bearish below 119.60 and bullish above 120.60.
USDCHF has fluctuated hard on Friday and is presently trading below 61.8% Fibonacci retracement level as seen on the provided daily chart.
Trading below this level requires another breakout below SMA50 and specifically, below 0.9680 to assist bears to resume the downside actions. Additionally, that breakout would assist RSI14 to move deeper below the value of 50.00.
On the upside, coming above 0.9780-0.9800 will negate the awaited bearishness below 0.9680.
Support: 0.9680-0.9630-0.9590
Resistance: 0.9725-0.9785-0.9835
Direction: Bearish below 0.9680
EURUSD shows bullish tendencies, but ADX remains weak, as all its lines stays below the 25.00 levels.
Trading above the minor support-red- and above moving averages 20 and 50 is classified as a positive signal, while any trading above 1.1150 is a good signal, but we need a breakout above 1.1240 to prove the strength of the trend.
RSI trades above 50.00 and thus, we will be positive as far as 1.1150 holds.
Support: 1.1185 – 1.1150 – 1.1100
Resistance: 1.1280 –1.1325 – 1.1385
Direction: Bullish above 1.1240
GBPUSD inclined during the Asian session, but the inclines remains trapped below SMA50 at 1.5220 where the pair meets 88.6% Fibonacci.
ADX reading is positive, but that doesn’t affirm the bullishness, as we need to witness a stable move above this level.
Since the pair is trapped between moving averages, we will be neutral and will update in the proper time.
Support: 1.5200 – 1.5165 – 1.5100
Resistance:1.5220 – 1.5270 – 1.5355
Direction: Sideways