EURUSD

The Euro peaked at 1.0937 yesterday, on two-day rally from 1.08 base, with recovery being so far capped by falling daily 55SMA, which guards more significant daily Ichimoku cloud base at 1.0950.
Near-term technicals are gaining traction and support fresh attempts higher. On the daily chart, indicators are in positive territory, with reversed slow Stochastic, heading north and showing more room upside.
Penetration into daily cloud, is needed to signal bullish resumption towards psychological 1.10 barrier and 1.1058 pivot, lower top of 15 Dec.
Low of narrow Asian range at 1.0900, marks initial support, with hourly Ichimoku cloud top, also Fibonacci 61.8% of 1.0801/1.0937 recovery at 1.0854, expected to ideally contain dips.
Conversely, break below thin hourly cloud, would risk return to 1.08 base.

Res: 1.0921; 1.0937; 1.0950; 1.1009
Sup: 1.0900; 1.0885; 1.0854; 1.0841

eurusd




GBPUSD

Cable holds in extended, narrow-range consolidation, above fresh eight-month low at 1.4863, where weekly bear-channel support line contained strong fall from 1.5237, 11 Dec peak.
Technicals remain negative and favor bearish resumption, but prolonged consolidation, with corrective upticks, is expected to precede, as daily slow Stochastic is oversold.
Initial resistance lies at psychological 1.50 level, also Fibonacci 38.2% of 1.5237/1.4863 downleg, where corrective rallies should be ideally capped.
Falling daily 20SMA, also mid-point of 1.5237/1.4863 descend, marks pivotal barrier and sustained break here would be a signal of stronger correction.


Res: 1.4927; 1.4948; 1.5000; 1.5050
Sup: 1.4863; 1.4830; 1.4812; 1.4737


gbpusd






USDJPY

The pair returns to directionless near-term mode, holding within narrow range today, after posting fresh low at 120.82, where daily Ichimoku cloud base contained. Yesterday’s trading was shaped in long-legged Doji and entrenched within daily cloud (120.82/121/49), signaling indecision.
Overall structure remains weak and sees risk of bearish resumption through daily cloud base, towards pivotal support at 120.33, higher low of 14 Dec.
On the upside, daily cloud top is reinforced by sideways-moving 200SMA and marks trigger for stronger recovery, on sustained break higher.


Res: 121.29; 121.50; 122.18; 122.50
Sup: 121.03; 120.82; 120.56; 120.33

usdjpy




AUDUSD

The pair establishes above 0.72 handle on today’s strong acceleration higher, which extends two-day recovery from 0.7095, 17 Dec low.
Fresh rallies probe above daily 20 SMA, also 50% of 0.7383/0.7095 fall and focus next barrier at 0.7280 zone, lower tops of 15/16 Dec and just above Fibonacci 61.8% retracement.
Daily technicals are gaining traction, with bullishly aligned near-term studies keep upside in focus.
Close above 0.7280 is needed to confirm scenario.
On the downside, session low at 0.7180, reinforced by daily 10SMA, offers solid support, above which corrective actions should be contained. Only loss of 0.7150, hourly higher base and Fibonacci 61.8% of recovery from 0.7095, would neutralize near-term bulls.

Res: 0.7280; 0.7300; 0.7332; 0.7383
Sup: 0.7198; 0.7180; 0.7150; 0.7130

audusd

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD holds above 0.6500 in thin trading

AUD/USD holds above 0.6500 in thin trading

The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.

AUD/USD News

EUR/USD comfortable below 1.0800 lower lows at sight

EUR/USD comfortable below 1.0800 lower lows at sight

The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.

EUR/USD News

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.

Gold News

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.

Read more

Bears have been standing before a steamroller so far this year

Bears have been standing before a steamroller so far this year

Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.

Read more

Majors

Cryptocurrencies

Signatures