EUR/USD - European Session
The pair's bullish attempts remained limited below 1.3850 levels, but we see a new attempt with the beginning of the European session today, whereas the pair is stable above Linear Regression Indicator 34 and 55 in a new attempt to breach the mentioned resistance.
Stabilizing above 1.3850 levels supports the attempt to stabilize above 1.3905 again which will pave the way towards a new bullish wave. Stochastic is attempting to achieve a positive crossover but below line 50, while RSI is rebounding to the upside but tends to be sideways. Of note, breaching 1.3850 over intraday basis today is significant to confirm the bullish wave. On the other hand, breaking 1.3780 weakens the upside move.
GBP/USD - European Session
A long bullish candle was achieved yesterday and managed to push the pair to breach the previous top 1.6822, as stabilizing above the referred to level forces us to think that the upside move might extend to test 113% and 172.2 correction represented in 1.6870 and 1.6920 levels showing on graph. Breaching the latter might test levels around the psychological barrier 1.7000 and perhaps the technical resistance 1.7045.
Stability above 1.6695 is required to extend the upside move, but stabilizing above 1.6740 supports these expectations. MACD is moving positively while AROON is showing that the positive line is stabilizing above line 70 indicating the bullish strength.
USD/JPY - European Session
USD/JPY pulled back lower towards 102.00 level, where price found support and was initially rejected, we consider this pullback a retest to the broken resistance, before resuming the bullish bias. Overall, holding above 101.85 should maintains the bullish resumption chances. Targeting 102.70-102.80 next main resistance area.
USD/CHF - European Session
USD/CHF pulls back slightly lower, but so far maintains the bullish rebound following the morning star candlestick pattern which hinted the bullish bias is likely in the near term. Therefore, we maintain our bullish rebound expectations so long as above the swing low at 0.8741, targeting the 50-days SMA at 0.8850 and 0.8900 horizontal resistance level.
USD/CAD - European Session
USD/CAD extended the rebound yesterday, as price settles above 1.0950 near term support level, following the false break below 1.0910 support last week. We still see further upside potential towards the 50-days SMA, these expectations remain valid so long as 1.0910 support is intact.
AUD/USD - European Session
The AUD/USD moved slightly higher yesterday after being rejected of 0.9450 main resistance level earlier last week, we see further downside correctional bias in the near term, eying a retest of 0.9300 areas before resuming the bullish wave. For now, we maintain our intraday bearish expectations.
NZD/USD - European Session
After breaking lower below 0.8625 support level, NZD/USD pulled back yesterday towards the broken support, which will probably form a near term resistance and force price to resume the bearish bias, as price could heading to retest the next major support around 0.8510 areas. Stability below 0.8625-0.8630 is the main condition for the bearish resumption scenario.
