EURUSD

Near-term studies are mixed, as the pair’s recovery attempt off last week’s low at 1.1232, remains capped by sideways-moving daily 20SMA at 1.1308 and holds below 1.1320 pivot (Fibo 38.2% of 1.0820/1.1463 upleg.
However, The Euro is gaining traction on daily chart, after strong pullback from 1.1463 peak, was contained by rising daily 30SMA, which continues to underpin fresh upside attempts.
Sustained break above 1.1308/20 is needed to generate stronger bullish signal for further recovery towards next strong barrier (daily Tenkan-sen line) at 1.1348.
Otherwise, prolonged consolidation with the downside remaining at risk, could be expected on failure to break initial barriers.
Daily Kijun-sen line offers immediate support at 1.1260, guarding key 1.1232 low, loss of which will be bearish.

Res: 1.1320; 1.1348; 1.1375; 1.1409
Sup: 1.1260; 1.1232; 1.1217; 1.1200


eurusd



GBPUSD

Cable is attempting to penetrate daily cloud base (currently at 1.4190), on bounce from session low at 1.4129, where Friday’s low offered solid support and contained dips.
This keeps the downside protected for now, guarding 1.4088/1.4004 pivots, however, prevailing neutral tone of near-term studies, sees the action limited.
Also, weak daily studies keep the downside vulnerable and see scope for extended consolidation between 1.4129 and 1.4240 (Friday’s high, reinforced by sideways-moving daily 30SMA).
Sustained break here is needed to recovery resumption towards next barriers at 1.4248 (daily Kijun-sen) and 1.4285 (Fibo 76.4% of 1.4345/1.4088 downleg).
On the other side, daily cloud base continues to weigh and failure to firmly break it, will keep the downside under pressure.

Res: 1.4200; 1.4240; 1.4258; 1.4285
Sup: 1.4174; 1.4130; 1.4088; 1.4038

gbpusd



USDJPY

The pair recovers overnight losses that found footstep just above key 107.60 base, following gap-lower opening. Fresh rally is eyeing 108.54 barrier (Fibo 38.2% of 109.71/107.82 downleg), after cracking former session high at 108.44.
If rally fills the gap (extension above 108.67/74, Friday’s closing price / high is needed), this will generate bullish signals for further near-term recovery.
Such scenario is seen unlikely for now, as firm bearish setup of daily studies favors lower top formation and fresh push lower, as key 107.60 support is now in focus.
However, prolonged consolidation above 107.60 base could be anticipated, before larger bears resume.

Res: 108.58; 108.74; 109.12; 109.53
Sup: 108.00; 107.82; 107.60; 107.00

usdjpy



AUDUSD

Aussie is regaining traction and looks to fill overnight’s gap, which was triggered by strong fall in oil prices.
Dips were contained above initial support at 0.7621/17 (10SMA / 14 Apr low), keeping intact overall bullish structure, which resulted in posting fresh marginally higher high at 0.7735 last week.
Near-term technicals are returning into bullish setup, while structure of daily studies remains bullish and favors renewed attempts higher, for firm break though tops of short-term congestion and resumption of larger uptrend from 0.6825 (low of 15 Jan).
However, further consolidation under 0.7735 peak cannot be ruled out, while only close below 0.7608 (daily 20SMA), would signal a pause in upside attempts and push the price in the lower part of short-term 0.7475/0.7735 range).

Res: 0.7735; 0.7769; 0.7810; 0.7864
Sup: 0.7629; 0.7608; 0.7583; 0.7547

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: A tough barrier remains around 0.6800

AUD/USD: A tough barrier remains around 0.6800

AUD/USD failed to maintain the earlier surpass of the 0.6800 barrier, eventually succumbing to the late rebound in the Greenback following the Fed’s decision to lower its interest rates by50 bps.

AUD/USD News
EUR/USD still targets the 2024 peaks around 1.1200

EUR/USD still targets the 2024 peaks around 1.1200

EUR/USD added to Tuesday’s losses after the post-FOMC rebound in the US Dollar prompted the pair to give away earlier gains to three-week highs in the 1.1185-1.1190 band.

EUR/USD News
Gold surrenders gains and drops to weekly lows near $2,550

Gold surrenders gains and drops to weekly lows near $2,550

Gold prices reverses the initial uptick to record highs around the $$2,600 per ounce troy, coming under renewed downside pressure and revisiting the $2,550 zone amidst the late recovery in the US Dollar.

Gold News
Australian Unemployment Rate expected to hold steady at 4.2% in August

Australian Unemployment Rate expected to hold steady at 4.2% in August

The Australian Bureau of Statistics will release the monthly employment report at 1:30 GMT on Thursday. The country is expected to have added 25K new positions in August, while the Unemployment Rate is foreseen to remain steady at 4.2%.

Read more
Ethereum could rally to $2,817 following Fed's 50 bps rate cut

Ethereum could rally to $2,817 following Fed's 50 bps rate cut

Ethereum (ETH) is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's (Fed) decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds (ETF) recorded $15.1 million in outflows.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Majors

Cryptocurrencies

Signatures