EUR/USD: Ready for a break through 1.1830, en route to 1.2050

EUR/USD Current level - 1.1819

The corrective pattern below 1.1830 is over with yesterday's low at 1.1725 and the bias is positive, for a break through 1.1836, towards 1.2050 zone. The market could remain on hold till ECB rate announcement today and unwind a bullish move afterwards.

Forex Technical Analysis on EUR/USD

resistance

intraday

intraweek

1.1830

1.1830

1.1900

1.2060

support

intraday

intraweek

1.1710

1.1480

1.1650

1.1300

 

 

USD/JPY Current level - 109.93

The short-lived spike to 110.80 was the final leg of the upmove since 108.10 low and my outlook is bearish, for a slide towards 109.20, en route to 107.90.

Forex Technical Analysis on USD/JPY

resistance

intraday

intraweek

110.70

111.40

111.40

114.40

support

intraday

intraweek

109.20

107.80

107.80

106.70

 

 

GBP/USD Current level - 1.3405

Yesterday's dip to 1.3306 should be enough to complete the consolidation pattern below 1.3460 and my outlook is already bullish, for a break through the mentioned hurdle, towards 1.3620 area.

Forex Technical Analysis on GBP/USD

resistance

intraday

intraweek

1.3460

1.3618

1.3620

1.3990

support

intraday

intraweek

1.3290

1.3210

1.3290

1.3040

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