AUD/USD: The Australian dollar reversed at 0.72105 as indicated in yesterday's update and took out all my estimated targets at 0.72365, 0.72520, 0.72600, and 0.72990 before pulling back in this mornings session. The Australian dollar has been drifting down looking for support since reaching 0.72990.

Our forecast

AUD/USD: The Australian dollar currently trades at 0.72763 and looks exhausted. The pair currently indicates a potential reverse signal to the downside. The Australian dollar could pull back to 0.72520 and 0.72365 if it fails to break out at 0.72990. The pair needs to break and maintain above 0.72990 to continue to the upside.

Support/ Short - 0.72600, 0.72520, 0.72365, and 0.72105

Resistance/ Long - 0.72990, 0.73223, 0.73345, and 0.73535

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the AUD/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the AUD/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with GBP/USD?

GBP/USD: The Pound continues to push on to the upside in a tight channel. The pair broke through 1.3100 in yesterdays trades and took out two of my estimated targets at 1.31375 and 1.31635 before retreating to 1.31375 support. The pair has been hovering around 1.31375 for the past eight hours looking for direction.

Our forecast

GBP/USD: The Pound has slipped below 1.31375 support and currently trades at 1.31323. The pair has been consolidating between 1.31365 and 1.31375 for the past eight hours, and I expect to see a break out soon. The pound could continue down to 1.3100 if it remains below 1.31375. The pound needs to break and maintain above 1.31635 to proceed to its next target at 1.32140.

Support/ short Target - 1.3100,1.30670, 1.30457, and 1.29900

Resistance/ Long Target - 1.31635,1.32140, and 1.32520

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the GBP/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the GBP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with EUR/USD?

EUR/USD: The Euro had some unpredictable wild swings in yesterdays session. The pair broke through 1.14280 and achieved all my estimated targets at 1.14465, 1.14460, and 1.14950 before pulling back during the overnight session. The Euro fell from 1.14950 and reached its 500 EMA at 1.14465 in this morning's trades.

Our forecast

EUR/USD: The Euro currently trades at 1.14405 approaching 1.14280 support. The pair has fallen into bearish territory and might continue further down to 1.4050 if it fails to hold at 1.14280. The Euro needs to get back and maintain activities above its 500 EMA at 1.14465 to keep the bullish trend.

Support/short target -1.14280, 1.14160, 1.14050, and 1.13945

Resistance/Long Target -1.14465, 1.14670, and 1.14950

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with USD/JPY?

USD/JPY: The US dollar fell below 113.148 and took out my estimated short targets at 113.310 and 113.120 before reversing to the upside. The pair broke through 113.310 and took out my estimated long targets at 113.485 and 113.710 before pulling back to around 112.900. The pair bounced and reached 113.485 in this morning's trades.

Our forecast

USD/JPY: The US dollar continues to push on to the upside after reversing from a shortfall in yesterdays session. However, the dollar needs to break and maintain above 113.485 to advance to the upside. The next long target is at around 113.710. The US dollar could head down to 113.310 and 113.120 if it fails to maintain above 113.485

Support/Short - 113. 485, 113.310, and 113.120

Resistance/ Long - 113.710, 113.850, 113.990, and 114.070

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the USD/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the USD/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with USD/CAD?

USD/CAD: The US dollar broke through 1.31255 as indicated in yesterdays session and took out two of my estimated targets at 1.31445 and 1.31535 before pulling back to 1.31110. The pair attempted to head back up but failed at 1.31325 resistance and led straight down to its 500 EMA at around 1.30640.

Our forecast

USD/CAD: The US dollar bounced at 1.30765 during the overnight session and had reversed to the upside. The pair has progressed to 1.31110 in this mornings session. The US dollar currently trades at 1.31080 just above 1.31110 support. The US dollar needs to break and maintain above 1.31110 to continue to the upside. The next long target is estimated at 1.31255. The US dollar could pull back to 1.31025 and 1.30925 if it fails to maintain above 1.31110.

Support/Short Target -1.31110, 1.31025, and 1.30925

Resistance/Long Target -1.31255 ,1.31325, 1.31445, and 1.31535

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the USD/CAD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the USD/CAD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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