EURUSD
During yesterday’s session EURUSD dropped below our first support 1.3365 however it went back up later to close the day above that level at 1.3374. It dropped 60 pips during that day. Today we see a continuation of the fall achieving a new low at 1.3348. The weakening of the euro was helped by stronger than expected US USM Non-Manufacturing PMI which came better than expected at 58.7
Outlook will remain bearish it trading stays below 1.3425 with first target at 1.3340
Res: 1.3425, 1.3445, 1.3475,
Sup: 1.3340, 1.3315, 1.3295
GBPUSD
Yesterday was another bullish day for the sterling rising to achieve a high of 1.6888 near our first resistance of 1.6890. It made a revisit of that level again at midnight however after failing to break it the second time we see it now retracting so far 30 pips. Our outlook will remain bullish if it manages to stay supported at 1.6810. However the double top at 1.6890 is a bad signal fur bullish positions
Res: 1.6890, 1.6920, 1.6965
Sup: 1.6810, 1.6780, 1.6755
USDJPY
Indecisiveness is the word to describe the USDJPY over the last two trading session. The reason for this is that we see it rise and drop during the sessions only for the market to close the day near the open price again. Overall the market has been moving sideways for a while and were getting a weak up or down signal from all momentum indicators confirming the sideways outlook.
Res: 103.00, 103.40, 103.70
Sup: 102.30, 102.00, 101.80
Gold
An indecisive day for gold yesterday with a daily range between high and low of 10 dollars. That market closed near the open price at 1288. On the 1 hour chart there is no clear trend formation as we see it swinging up and down giving conflicting signals plus moving averages moving sideways. We need to see it break above the resistance to give us an upward signal or below the support to give us a downward signal. Otherwise it would be difficult to interpret its movement within those boundaries
Res: 1297, 1304, 1312
Sup: 1280, 1266, 1259
During yesterday’s session EURUSD dropped below our first support 1.3365 however it went back up later to close the day above that level at 1.3374. It dropped 60 pips during that day. Today we see a continuation of the fall achieving a new low at 1.3348. The weakening of the euro was helped by stronger than expected US USM Non-Manufacturing PMI which came better than expected at 58.7
Outlook will remain bearish it trading stays below 1.3425 with first target at 1.3340
Res: 1.3425, 1.3445, 1.3475,
Sup: 1.3340, 1.3315, 1.3295
GBPUSD
Yesterday was another bullish day for the sterling rising to achieve a high of 1.6888 near our first resistance of 1.6890. It made a revisit of that level again at midnight however after failing to break it the second time we see it now retracting so far 30 pips. Our outlook will remain bullish if it manages to stay supported at 1.6810. However the double top at 1.6890 is a bad signal fur bullish positions
Res: 1.6890, 1.6920, 1.6965
Sup: 1.6810, 1.6780, 1.6755
USDJPY
Indecisiveness is the word to describe the USDJPY over the last two trading session. The reason for this is that we see it rise and drop during the sessions only for the market to close the day near the open price again. Overall the market has been moving sideways for a while and were getting a weak up or down signal from all momentum indicators confirming the sideways outlook.
Res: 103.00, 103.40, 103.70
Sup: 102.30, 102.00, 101.80
Gold
An indecisive day for gold yesterday with a daily range between high and low of 10 dollars. That market closed near the open price at 1288. On the 1 hour chart there is no clear trend formation as we see it swinging up and down giving conflicting signals plus moving averages moving sideways. We need to see it break above the resistance to give us an upward signal or below the support to give us a downward signal. Otherwise it would be difficult to interpret its movement within those boundaries
Res: 1297, 1304, 1312
Sup: 1280, 1266, 1259
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