- Euro Bullish Above 1.4032
- Japanese Yen Close to Key Level
- British Pound to Test 2.0500
- Swiss Franc Already Turned?
- Canadian Dollar Close to a Turn
- Australian Dollar Could Trade Back to .8600
- New Zealand Dollar In Reversal Zone
EUR/USD
Current level-1.4112
The currency pair is in an uptrend unfolding from the 1.2484 bottom and probably ahead of a significant reversal on weekly basis. The technical indicators are rising and the trading is situated above the 50-day and the 200-day SMA, currently projected at 1.3638 and 1.3361. On the Elliott Wave count we are probably finalizing C of (B)-(intermediate) and a development of (C)-(intermediate) lies ahead.
The support at 1.4136 gave way last week and the pair reached low at 1.4034. The pair trades just above the rising trend-line (4 h basis), but from the larger point of view, the slide from the 1.4281 top is still corrective and suggests renewing of the general uptrend for new highs above 1.4281.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4150 | 1.4346 | 1.4102 | 1.4060 |
| 1.4205 | 1.4446 | 1.4059 | 1.3823 |
USD/JPY
Current level-117.19
The uptrend from 115.16 has been completed at 124.14 and a downtrend is unfolding since. The technical indicators are falling on daily basis and trading is situated below the 50- and 200-day SMA, currently projected at 122.09 and 119.60.
Our target at 117.18 has been met, but there are still no signs of a reversal of the current uptrend. Intraday expect slide twds. the 116.78 support.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 117.18 | 118.51 | 115.51 | 113.56 |
| 117.92 | 119.89 | 114.02 | 111.65 |
GBP/USD
Current level-2.0401
A short-term top is set at 2.0652 where the pair hit a new high for the past 26 years. The technical indicators are rising after reversing at 1.9649.
The support at 2.0275 is still intact and it has provoked a sharp rise to 2.0442. Friday's trading activity reached a low at 2.0305 and from that level an uptrend is on the run, targeting 2.0543.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 2.0442 | 2.0495 | 2.0323 | 2.0275 |
| 2.0546 | 2.0652 | 2.0275 | 2.0067 |
