EUR/USD
After last week's bearishness, the pair traded yesterday and today within a very tight range that remained limited below the key support level of the upside move as showing on graph. Linear Regression Indicators are negative supporting the possibility of extending the downside move.
The pair has to confirm breaking 1.3720 - 1.3700 to confirm extending bearishness, where it will push the pair towards 1.3665 then 1.3520. Stochastic is showing intraday oversold signals, but as long as the pair is stable below 1.3835 we will keep our bearish expectations.
GBP/USD
The negative crossover on MACD, in addition to trading below line zero today is accompanied by Linear Regression Indicator 34 turning from positive to neutral. Linear Regression Indicator 34 and 55 is covering the pair from the upsidemeeting 127.2% correction at 1.6920, indicating that trading below the referred to level is negative.
AROON Indicator is showing further weakness in the bullish strength which should be supported by stabilizing below 1.6870 to strengthen the downside move. Generally, we expect a correctional bearish move that remains valid by stabilizing below 1.7010. As for today, we depend on stabilizing below 1.6920 to keep our intraday negative expectations valid.
USD/JPY
The USD/JPY is rebounding higher again, after retesting the rising trend line for the latest bullish wave, where price found support and resumed the bullish bias. Holding above the rising trend line keeps our bullish bias intact, eying a retest of 102.70 resistance level, while a break above the 102.70 is key to further bullish movement.
USD/CHF
The USD/CHF extended the bullish rebound to settle around the initial main resistance at 0.8860-0.8870 level, which is a combination of the latest swing high(resistance level) and the 38.2 Fibonacci retracement, further stability above 0.8870 will confirm the extension of the rebound towards 0.8950. Accordingly, we hold onto our bullish expectations.
USD/CAD
The USD/CAD is attempting to move back higher within the context of the overall bullish trend, after failing to hold below 1.0850 support level on Friday, and heading back towards the descending reissuance for the ongoing bearish correctional wave. However, so long as that resistance around 1.0950 is holding, the bearish resumptions scenario remains favored.
AUD/USD
The AUD/USD is retreating after testing 0.9370 resistance level. However, price remains above the key support area at the rising trend line and 0.9200 horizontal support. Accordingly the bullish scenario remains favored in our view and so long as 0.9200 major support area is intact.
NZD/USD
The NZD/USD remained under pressure , consolidating in a tight range, while price trades near the middle of the recent sideways range among 0.8750-0.8500 key resistance and support levels. For now, there still no clear confirmation of the bullish resumption scenario, and thus we prefer to be on the sidelines awaiting a confirmation signal.
