EUR/USD
Near-term bulls returned fully in play, as the price accelerated on a break above 1.3100/38 barriers, to penetrate psychological 1.3200 resistance. With gains retraced near 76.4% of 1.3300/1.2996 descend, near-term focus shifts towards very strong 1.3300 barrier that capped several attempts in December. Studies on 4h chart are in ascending mode and see room for further extension higher, however, overextended hourly conditions could anticipate corrective action that has not been signaled yet. Daily close above 1.3200 handle would be seen as supportive element.
Res: 1.3218, 1.3227, 1.3260, 1.3282
Sup: 1.3200, 1.3160, 1.3150, 1.3138
GBP/USD
The pair bounces above 1.6100 barrier, also 55 day EMA that avoids immediate downside risk of penetrating important 1.6000 support, with rally to 1.6118 so far, nearly fully retracing 1.6126/1.5991, 08/09 Jan descend. Lift above 1.6126 and Fibonacci 38.2% at 1.6140 is required to confirm break above near-term 1.6126/1.6000 range and open way for stronger recovery, as currents movements could be described rather consolidative. Fresh bullish momentum on 4h chart is sen supportive, while hourly studies moved in the positive territory. Initial supports lie at 1.6080/70 zone, approx mid-point of today’s rally and should ideally contain any corrective dips.
Res: 1.6118, 1.6126, 1.6140, 1.6185
Sup: 1.6081, 1.6074, 1.6034, 1.6000
USD/JPY
The pair consolidates recent gains within 88.32/00 range, just ahead of key near-term barrier and recent high at 88.40. Today’s close above 88.00 would be supportive for fresh attempt and break above 88.40 to open 89.00 next. Near-term structure maintains positive tone, however, risk would be seen on a loss of 88.00 handle that may signal near-term double top and trigger stronger correction, as overextended daily studies require caution.
Res: 88.32, 88.40, 89.00, 89.14
Sup: 88.00, 87.85, 87.71, 87.40
USD/CHF
The pair lost traction on approach to 0.9280/0.9300 barriers, with subsequent reversal accelerating losses on a break below initial 0.9230 and more significant 0.92000 support. With fresh weakness retracing 61.8% of 0.9080/0.9300 rally at 0.9160, more risk is now seen towards the downside, as strong supports at 0.9100 and 0.9080 base are coming in near-term focus. As 4h chart indicators slide below the midlines, scope is seen for possible re-visit of 0.9100/0.9080, with oversold hourlies signaling corrective action that may precede fresh bears. However, no firm signal of reversal seen yet. Previous supports at 0.9200/0.9230 now revert to resistance and being reinforced by 55/20 day EMA’s respectively.
Res: 0.9200, 0.9230, 0.9241, 0.9265
Sup: 0.9160, 0.9130, 0.9100, 0.9080
Near-term bulls returned fully in play, as the price accelerated on a break above 1.3100/38 barriers, to penetrate psychological 1.3200 resistance. With gains retraced near 76.4% of 1.3300/1.2996 descend, near-term focus shifts towards very strong 1.3300 barrier that capped several attempts in December. Studies on 4h chart are in ascending mode and see room for further extension higher, however, overextended hourly conditions could anticipate corrective action that has not been signaled yet. Daily close above 1.3200 handle would be seen as supportive element.
Res: 1.3218, 1.3227, 1.3260, 1.3282
Sup: 1.3200, 1.3160, 1.3150, 1.3138
GBP/USD
The pair bounces above 1.6100 barrier, also 55 day EMA that avoids immediate downside risk of penetrating important 1.6000 support, with rally to 1.6118 so far, nearly fully retracing 1.6126/1.5991, 08/09 Jan descend. Lift above 1.6126 and Fibonacci 38.2% at 1.6140 is required to confirm break above near-term 1.6126/1.6000 range and open way for stronger recovery, as currents movements could be described rather consolidative. Fresh bullish momentum on 4h chart is sen supportive, while hourly studies moved in the positive territory. Initial supports lie at 1.6080/70 zone, approx mid-point of today’s rally and should ideally contain any corrective dips.
Res: 1.6118, 1.6126, 1.6140, 1.6185
Sup: 1.6081, 1.6074, 1.6034, 1.6000
USD/JPY
The pair consolidates recent gains within 88.32/00 range, just ahead of key near-term barrier and recent high at 88.40. Today’s close above 88.00 would be supportive for fresh attempt and break above 88.40 to open 89.00 next. Near-term structure maintains positive tone, however, risk would be seen on a loss of 88.00 handle that may signal near-term double top and trigger stronger correction, as overextended daily studies require caution.
Res: 88.32, 88.40, 89.00, 89.14
Sup: 88.00, 87.85, 87.71, 87.40
USD/CHF
The pair lost traction on approach to 0.9280/0.9300 barriers, with subsequent reversal accelerating losses on a break below initial 0.9230 and more significant 0.92000 support. With fresh weakness retracing 61.8% of 0.9080/0.9300 rally at 0.9160, more risk is now seen towards the downside, as strong supports at 0.9100 and 0.9080 base are coming in near-term focus. As 4h chart indicators slide below the midlines, scope is seen for possible re-visit of 0.9100/0.9080, with oversold hourlies signaling corrective action that may precede fresh bears. However, no firm signal of reversal seen yet. Previous supports at 0.9200/0.9230 now revert to resistance and being reinforced by 55/20 day EMA’s respectively.
Res: 0.9200, 0.9230, 0.9241, 0.9265
Sup: 0.9160, 0.9130, 0.9100, 0.9080
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.