In accordance with the bearish scenario, the USDCHF pair has collapsed below moving averages 20 and 50 after testing 61.8% Fibonacci levels as seen on the provided daily chart.
However, we closed the premium recommendation we sent to our subscribers with 60 pips profit and we will avoid trading the pair today due to approaching Fibonacci support and the closing hours’ fluctuation.
Anyway, the major intraday trend is bearish and coming below 0.9600 will affirm.
Support: 0.9600-0.9530-0.9500
Resistance: 0.9685-0.9725-0.9780
Direction: Bearish, but we will avoid trading the pair.
Despite retracing from the support line of the triangle, but USDJPY will not affirm the bullishness unless it clears its resistance as discussed many times earlier.
We see inappropriate risk versus reward ratio and we will be patient until the USDJPY pair breaches through one of those lines to take a position.
Technical indicators are showing signs of continuous hesitation, while prices are trapped between SMA20 and SMA50.
Support: 119-60-119.35-118.80
Resistance: 120.60-121.05-121.30
Direction: Bearish below 119.60-119.40 and bullish above 120.60, preferable 120.85.
EURO inclines sharply, trading above 1.1325, which is positive factor along with bullish signs on RSI and ADX.
On the upside, we target 1.1385 and 1.1420 as far as 1.1280 holds, we will be bullish, while coming below 1.1240 will negate.
Support: 1.1320 – 1.1280 – 1.1240
Resistance: 1.1385 –1.1420 – 1.1460
Direction:Bullish
GBPUSD has touched 50% Fibonacci as seen on the provided daily chart, while ADX shows strong positivity.
Meanwhile, RSI14 shows overbought signals and that would bring hard fluctuation but we will be bullish; noting that, we will not take positions until the pair clears 1.5385. On the downside, coming below 1.5300 will negate.
Support: 1.5315 – 1.5270 – 1.5235
Resistance: 1.5385 – 1.5450 – 1.5540
Direction: Bullish