USD/JPY has moved to the upside as planned for this week’s trading, but it was resisted just near 109.60 hurdle.
We see how RSI is currently flirting with 50.00 zones and that should make us neutral now since trading between 108.30 and 109.40 prevents us from suggesting specific direction.
In the interim, signs of trend weakness started to appear on ADX; thereby, we will avoid trading USDJPY today.
- Support: 108.30-107.90-107.30
- Resistance:109.20-109.65-110.00
- Direction: Neutral
USD/CHF has stabilized above moving averages 20 and 50 as seen on the provided daily chart, taking RSI higher.
We see also how the pair has achieved a daily closing above 0.9725, which is a very good signal for bulls.
From here, we will be bullish today aiming to challenge 0.9805 resistance followed by 0.9830, while 0.9660 should hold to protect bulls.
- Support: 0.9725-0.9680-0.9630
- Resistance: 0.9780-0.9805-0.9830
- Direction: Bullish
Many attempts have been witnessed to incline, but all have failed and the pair traded below 38.2% Fibonacci at 1.4480 and below moving averages.
However, we can’t be bearish unless the pair takes out 1.4385 to suggest new positions and to see ADX in a negative mode.
On the upside, a four-hour closing above 1.4480 will be a bullish signal.
- Support: 1.4385 – 1.4345 – 1.4295
- Resistance: 1.4440 – 1.4480 – 1.4525
- Direction: Bearish below 1.4385
EURO trades around 88.6% Fibonacci at 1.1385 after failing to hit SMA20 at 1.1350.
RSI shows bullish attempt, but ADX reflects the weakness of trend and thus, we will be neutral today until the pair clears 1.1350 or 1.1445.
- Support: : 1.1350 – 1.1310 – 1.1285
- Resistance: 1.1445 –1.1495 – 1.1550
- Direction: Neutral