GBP/USD
GBP/USD moved to the downside after coming below 1.5415 and our expectations failed, while moving below moving averages 20 and 50 is a negative factor.
ADX shows bearish tendencies and RSI moves below 50.00, which argue us to be bearish today. A break below 1.5315 is required to extend the bearish wave.
- Support: 1.5315 – 1.5280 – 1.5250
- Resistance: 1.5380 – 1.5415 – 1.5490
- Direction: Down below 1.5315
EUR/USD
EUR/USD has showed strong fluctuation alongside bearish tendencies after failing to hit 38.2% Fibonacci at 1.1325.
RSI14 moves to the downside, but is stable above 50.00, while ADX shows signs of positivity. We see contradiction between technical signs that forces us to remain on the sideline. Note that low liquidity conditions are awaited as markets await Fed decision tomorrow.
- Support: 1.1280 – 1.1235 – 1.1200
- Resistance: 1.1325 –1.1360 – 1.1400
- Direction: Sideways
USD/CHF
The USD/CHF pair has moved upwards after testing moving averages 20 and 50 and is currently trying to stabilize above 61.8% Fibonacci.
Yesterday’s high at 0.9760 becomes a new key and a break of which will weaken 0.9830. RSI14 turned into positivity and, accordingly, we may join bulls, but not before taking out 0.9760-0.9780.
- Support: 0.9675-0.9620-0.9550
- Resistance:0.9760- 0.9780-0.9830
- Direction: Sideways, but bullish above 0.9780
USD/JPY
Sharp pullback from 119.35 zones has been witnessed yesterday and the USD/JPY pair was pushed again above 120.00 psychological, but trading remains stable below 120.60 initial resistance.
We should witness a breakout above 120.60 to go long with the current move, while coming below 119.35 again will be a bearish signal. We should be patient until the current technical hesitation ends to pinpoint the next move.
- Support:120.00-119.35-118.85
- Resistance:120.60-121.05-121.50
- Direction: Sideways