EURUSD – The EURUSD Decreases to 1.3053
Yesterday’s trading day was not remarkable. The EURUSD was put under pressure by the sellers, but there were no major movements that could be of interest to predict the future of the pair. The pair dropped from 1.3140 to 1.3053, and then increased above the resistance around the 1.3070 level. Thus, the EURUSD continues to trade in a range, whose breakdown will set the direction of the pair. Given the recent changes in the policy of the ECB, we can assume that the pair will leave the range in a downward direction.
GBPUSD – The GBPUSD Continues a Range Trading
There has been nothing to add regarding the GBPUSD. The pair dropped from 1.5597 to 1.5520, and these levels are the high and low indicators of the yesterday’s trading day. Thus, there remains a range trading – it is necessary for the pair to leave the range, since it is required for the movement development in any specific direction. The Parabolic SAR is lower than the price chart on the 4-hour and daily charts, that suggests that the breakdown of the top of the range. Then it will be possible to expect the increase to 1.5656 and 1.5714. Otherwise, the pound will drop to the 54th figure, the loss of which will worsen its prospects.
USDCHF – The USDCHF Trades with a Positive Sentiment
The USDCHF was trading with a positive sentiment that allowed the quotes to increase from 0.9338 to 0.9396. The speculators were limited to this, and the pair continued to trade higher then the accumulation of all three moving averages, giving the bulls hope for the continued upward momentum in whose favor speks the Parabolic SAR as well, located below the price chart. In case of passing the 94th figure, the dollar will test the current highs around the 0.9500 level. The drop below 0.9340 would weaken the bulls.
USDJPY – The USDJPY Bulls Fail to Overcome 99.40
The USDJPY bulls were not enthusiastic during the weekend, because on Monday they hesitatingly hung about the level of 99.40, but during the Asian session on Tuesday, they retreated to 98.83. on The pair remains under pressure, and its inability to rise above 99.40 could lead it to larger profits. In this case, the immediate bears’ target will be the 98th figure, the loss of which would make the pressure put on the pair even stronger, and the rate will drop to the current lows near 97.00.
