EURUSD
Yesterday’s rally to 1.5045 opens the 1.5 territory and current pullback seem corrective, most likely caused by the session’s end losses in the equity markets. If the current pullback continues, intra-day support will be faced into the 1.4940/50 region which is backed by 1.4890/00 and 1.4820. While the euro maintains the bid-tone, fresh rallies may bring the 1.5100 handle in focus. Short-term momentum is bullish but the intra-day sentiment is slightly bearish but will turn positive on a potential break above 1.5025/45. Current quote is 1.4992 @05:55 GMT
Support: 1.4940/50, 1.4890/00 and 1.4820
Resistance: 1.5045/50, 1.5100 and 1.5150
GBPUSD
Cable is conserving yesterday’s gains of 290 points and currently trades around the 1.6600 handle. Current uptrend is strong and the sterling does not show signs of correction, therefore September’s top at 1.6740/50 is on focus, followed by 1.7000. Potential pullbacks may find support into the 1.6500 and 1.6420/50 regions. Upside is favored for now. Current quote is 1.6615 @05:55 GMT
Support: 1.6600, 1.6500 and 1.6420/50
Resistance: 1.6640/50, 1.6740/50 and 1.6800
USDJPY
Trading strategy: short at 92.10, initial stop at 92.60, objective at 91.40. Adjust stop to breakeven on +20 pips (at 91.90) if reached
The dollar is relatively stronger against the Yen and resistance into the 91.25 region is under pressure at the time of writing this. breaking above the said level would open 92.00/10 for a later test. Both short-term and intra-day studies are bullish and price action suggests further gains but 92 may limit gains and provide an important selling region. Current quote is 91.28 @05:55 GMT
Support: 90.50/60, 90.00 and 89.00
Resistance: 91.25, 92.00/10 and 92.50
