by JustForex
The EUR/USD currency pair
- Prev Open: 1.2127
- Prev Close: 1.2166
- % chg. over the last day: +0.32%
Against the background of positive nonfarm payroll data, the US currency unexpectedly fell on Friday, triggering a sharp rise of the EUR/USD currency pair (inverse correlation). The price returned to a wide range of 1.2134-1.2243 on the impulsive move, forming a false breakdown zone below.
- Support levels: 1.2134, 1.2112, 1.2074, 1.2026, 1.2002, 1.1957
- Resistance levels: 1.2180, 1.2212, 1.2243, 1.2311
The price has quickly returned to the moving average line, and the MACD indicator is in the positive zone again. The uptrend is likely to resume, but only if the price breaks out through the priority change level of 1.2112. Under such market conditions, traders are better to look for both sell trades from the nearest resistance levels and buy trades from support levels within the upward momentum.
Alternative scenario: if the price breaks out through the 1.2212 resistance level and fixes below, the general uptrend is likely to resume.
The GBP/USD currency pair
- Prev Open: 1.4096
- Prev Close: 1.4158
- % chg. over the last day: +0.44%
Unlike the euro, the British pound managed to hold above the change priority level and maintain an uptrend. On Friday, the price returned to the wide range of 1.4110-1.4207 on the impulse move, forming a false breakdown zone below.
- Support levels: 1.4110, 1.4075, 1.3996, 1.3913,1.3835, 1.3801, 1.3756, 1.3690
- Resistance levels: 1.4175, 1.4207, 1.4338
The price is trading near the moving average, and the MACD indicator has become inactive. The trend of the GBP/USD currency pair remains bullish, as the price is above the priority change level. Under such market conditions, traders are better to look for buy trades from the support levels with the targets on the opposite boundary of the corridor.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Alternative scenario: if the price breaks through the 1.4075 support level and consolidates below, the bullish scenario is likely to be canceled.
The USD/JPY currency pair
- Prev Open: 110.26
- Prev Close: 109.51
- % chg. over the last day: -0.68%
The USD/JPY currency pair is highly correlated with the dollar index. On Thursday, the price fell by 0.68% and lost almost all of Thursday’s gains. If such a bearish dynamic continues, the uptrend will most likely be broken.
- Support levels: 109.35, 109.13, 108.66, 108.44, 108.19, 107.77
- Resistance levels: 109.83, 110.09 110.51, 110.73
At the moment, the mid-term trend is still bullish as the price is above the priority change level of 109.14. The price is trading near the moving average, and the MACD indicator has gone into the negative area. Under such market conditions, traders are better to look for both buy trades from the nearest support levels and sell trades from resistance levels within the bearish momentum.
Alternative scenario: if the price falls below 109.14, the general downtrend is likely to resume.
The USD/CAD currency pair
- Prev Open: 1.2109
- Prev Close: 1.2074
- % chg. over the last day: -0.29%
The USD/CAD currency pair decreased by 0.29% on Friday. The Canadian dollar showed the greatest resistance to changes in the dollar index among all major currencies. Buyers are acting much more aggressively, and the price is moving towards the priority change level.
- Support levels: 1.2069, 1.2032, 1.1944
- Resistance levels: 1.2137, 1.2251, 1.2321, 1.2388, 1.2414, 1.2519
Technically, the trend remains bearish. But taking into account that the local downtrend line was broken by an impulsive move, the current momentum is strictly bullish. Under such market conditions, traders are better to look for both sell trades from the nearest resistance levels and buy trades from support levels, but only on intraday timeframes within the upward momentum. But it should be noted that the price is still inside a wide corridor of 1.2032-1.2137.
Alternative scenario: if the price breaks out through the 1.2137 resistance level and fixes above, a local corrective uptrend is likely to form.
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
- RoboForex Brings Full-Scale Trading to Telegram Jul 7, 2026
- Your Bourse Integrates TradingView Charts and Trading Platform Library with Trade Server Jul 7, 2026
- Yen Still Under Pressure: Markets Await Action from Authorities Jul 7, 2026
- Germany’s DAX Index has updated its all‑time high. OPEC+ countries have agreed to increase production Jul 7, 2026
- Oil prices have stabilized. The Canadian dollar continues to trade near yearly lows. Jul 6, 2026
- EUR/USD in a Narrow Range: Focus on Fed Minutes Jul 6, 2026
- Oil prices have fallen to pre‑war levels. AI companies continue to sell off Jul 3, 2026
- Gold Rises Sharply as Markets Reassess Fed Rate Outlook Jul 3, 2026
- The Eurozone has shown a significant slowdown in inflation. Australia has recorded its largest trade deficit since 2015 Jul 2, 2026
- Natural gas prices are rising amid increasing electricity consumption Jul 1, 2026
