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EUR/USD: A Break Below 1.0130 Is A Sell Signal

Published 07/21/2022, 04:27 AM
Updated 07/09/2023, 06:31 AM

EUR/USD's minor resistance at 1.0200/10, then strong resistance at 1.0260/70. We also have strong resistance at 1.0310/20, and remember we are in a longer-term bear trend - so sooner rather than later, the pair are expected to turn lower (exactly as we did yesterday).

First support at 1.0150/40. Longs need stops below 1.0130. A break lower is a sell signal targeting 1.0100, probably as far as 1.0070.

EUR/USD hourly chart.

S&P 500 Futures beat resistance at 3910/20 for a buy signal targeting 3960/70 (hit yesterday), perhaps as far as 3990/4000. A high for the day is likely, although shorts may be risky. A break above 4020 is the next buy signal targeting a selling opportunity at 4080/90.

I have been waiting for this move since I predicted the low a month ago. The downside should be limited now with support again at 3920/10. Longs need stops below 3890.

S&P 500 Futures Hourly Chart.

USD/JPY longs at strong support at 137.60/40 could reach 138.35 and almost 138.60 as the next targets. This offers a 100 pip profit, and we struggled to beat this level as predicted. However, shorts are too risky. Above 138.70, look for 139.00.

Minor support at 137.85/75 held perfectly yesterday, but there is better support at 137.60/40, of course. Longs need stops below 137.25.

USD/JPY 4-hour chart technical analysis.

AUD/USD now meets strong resistance at 6905/15. Shorts need stops above 6935. A higher break targets 6970/80, perhaps as far as 6995/99. Shorts at strong resistance at 6905/15 target 6840/30 for profit-taking. However, if we continue lower (we are in a bear trend), look for 6780/70.

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AUD/USD daily chart.

NZD/USD held 17 pips from strong resistance at 6290/6300. Shorts need stops above 6325. First support at 6195/85. Longs need stops below 6165. A break lower is a sell signal targeting 6140 and 6100.NZD/USD daily chart.

AUDJPY higher as expected and can target 9585/95 today. Further gains can retest the June high at 9675/85. Good support at 9490/80. Longs need stops below 9460.

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