Weak movements have been witnessed on GBPUSD, but SMA20 continued to protect the movements above 38.2% Fibonacci at 1.5415.
Trading above 1.5415 is positive and would bring a test of 1.5490, while breaching this level will cause string upside wave. Stability above 1.5415 will fix the weak signs on ADX and RSI.
On the downside, coming below 1.5315 will negate.
Support: 1.5415 – 1.5380 – 1.5335
Resistance: 1.5450 – 1.5490 – 1.5525
Direction: Up
During the Asian session, the EURUSD pair was trapped within a tight range between SMA20 and 38.2% Fibonacci at 1.1325.
ADX shows weakness in the uptrend, while RSI is sideways; therefore, we can suggest specific move over intraday basis, as we need a sustained breakout above 1.1325, while coming below 1.1235 will be negative sign.
From here, we will be neutral over intraday basis.
Support: 1.1280 – 1.1235 – 1.1200
Resistance: 1.1325 –1.1360 – 1.1400
Direction: Sideways
USDCHF has been trading below 61.8% Fibonacci and above moving averages and that offers a case of neutrality due to the sensitivity of the current trading levels.
We need to see a break above 0.9780 to suggest bullish wave or a break below 0.9600 to go with bears.
RSI is neutral and ADX remains weak; thus, we will continue to watch out the price behaviors over intraday basis and will close any positions taken earlier.
Support: 0.9620-0.9550-0.9500
Resistance:0.9750- 0.9780-0.9830
Direction: Sideways
The USDJPY has moved to the downside, respecting our bearish scenario and approaching the technical target suggested for our subscribers at 119.45.
We have closed our sell position with 95 pips profit, awaiting for a new re-entry point since the outlook remains bearish due to stability below moving averages and negative signs on ADX and RSI.
A break below 118.80 will bring panic sell-off actions over short-term basis.
Support:119.30-118.85-117.60
Resistance:120.00-120.60-121.00
Direction: Bearish