EUR/USD
The pair failed to break 38.2% correction of the bullish wave that started at 1.2756 reaching the top 1.3996 showing on graph. The referred to correction resides at 1.3520 which is now a pivotal support for today especially with positive signals showing on Stochastic and RSI attempting to move to the upside.
Its possible to depend today on the support 1.3520 to suggest an upside move, but breaking it fails any bullish correction and could trigger a bearish wave again.
GBP/USD
Yesterday's negative candle is the Falling Wedge, but we cannot depend on it as it should be confirmed by another bearish candle. Hence, we will ignore the referred to candle especially that there is a positive crossover between Linear Regression Indicator 34 and 55,as the pair is stable above the support 1.6930.
Trading above 1.6930 will be positive, but the pair has to breach the psychological barrier 1.7000 to trigger the bullish wave and cancel any possibility of bringing back the effect of the negative candle. Despite that the bullish strength weakened according to AROON Indicator, its still ongoing, while MACD is trading positively above line zero supporting the possibility of extending positivity.
USD/JPY
The pair is trading weakly below EMA 50 and 100 showing on graph around 102.10. The mentioned EMA are significant resistances that could push the pair to the downside. From the downside, we notice the intraday support 101.65 and the main support 101.40, and stabilizing above them cancels the option of suggesting a downside move.
Intraday, its possible to depend on the support 101.40 and resistance 102.10 to determine the trend, whereas breaching the resistance forces us to become positive, while breaking the support makes us negative. Trading between 101.40 and 102.10 forces us to move to the sidelines waiting to confirm either the break or the breach.
USD/CHF
The USD/CHF is retreated yesterday, but price continues to consolidate above the 200-days SMA and 0.8950 level again, and that is a positive signal, which keeps the bullish possibilities intact, where holding above the neckline for the double bottom pattern at 0.8950 areas favors the bullish scenario for today.
USD/CAD
The USD/CAD ended the yesterday’s session lower, pushing towards the support for the sideways range among 1.0815-1.0940 key short term levels. Where Stability below 1.0855 favors more downside for today towards 1.0815 level, while a break below 1.0815 would confirm the bearish continuation scenario and signal more downside towards 1.0750.
AUD/USD
The AUD/USD moved lower yesterday, breaking back below 0.9380 support level, and approaching the next support area around 0.9330 near the 50-days SMA, where price my find grounds there, to attempt and resume the bullish bias. We prefer to wait for a confirmation signal over the lower time interval today. As a break below 0.9330 may extend the downside even further, and suggest a sideways trading range among 0.9450-0.9200.
NZD/USD
The NZD/USD consolidates in a tight range following the major rally last week, where price is approaching the main resistance area at 0.8750 and 0.8780. Further upside is favored so long as 0.8645 key support is intact over intraday basis. A break below 0.8645 may call for a deeper downside correction towards 0.8580 areas.
