EURUSD – The EURUSD Increases to 1.3107
It seems that the EURUSD has managed to form the basis near the support of 1.2825, since the pair’s decrease was limited by 1.2944 and 1.2955. Starting from 1.2955, the pair managed to resume its increase yesterday and hiked above 1.3020 again, overcame the 1.3070 resistance and tested the 1.3107 level. The recessions are limited by the 1.3057 support, where the pair remains in demand. If the EURUSD manages to hold above 1.3020-1.3000, then the pair may continue increasing towards the 1.3172 resistance. The drop below 1.2944 would mean the downtrend resumption.
GBPUSD – The GBPUSD Continues Increasing
The GBPUSD pair’s situation has become improved – the pair continued increasing almost without any rebounds yesterday. On the way to the 53rd figure, the bears habitually tried to return the pair downwards. But they failed to do it, since the pair was bought from 1.5237 – this level provided the pair with an opportunity to break through the 53rd figure and maintain the uptrend up to 1.5375 before the British pound dropped back to 1.5313. The pair is in demand at this level as well, but the bears continue their sluggish attempts to break downwards. If the support near 1.5310-1.5280 withstands, this will confirm the basis formation near 1.5040, as well as uptrend formation, whose target will be highs near the 56th figure.
USDCHF – The USDCHF Decreases Again
The U.S. dollar was decreasing even in pair with the Swiss franc yesterday. The increasing attempts were interrupted at 0.9623, from which its rate dropped to 0.9407, having pulled back to 0.9495. Thus, the dollar is steadily moving down below the resistance line – this doesn’t make the bulls happy about it. Consequently, the bulls may wait until the pair drops to the 93rd figure. However, the 100-day MA is running near the 94th figure on the daily chart – it can provide the pair with the support. In this case, one can miss the correction completion, as well as growth resumption of the dollar while waiting and doing nothing.
USDJPY – The USDJPY at the Mercy of Downward Correction
The USDJPY was decreasing yesterday as well, which eventually caused the breakthrough of the 100.70-100.40 support proximity, as well as decrease to 98.86. There, the dollar faced a good demand, due to which it managed to return to 99.94. The punched support will act as the resistance level to opening shorts from. The pair is trading below all the moving averages on the daily timeframe, the Parabolic SAR is above the price chart. Thus, given the breakdown of the above mentioned support, it is safe to involve the downward correction development along with the following target at the 97th figure (in case 98.86 is passed). The increase above 101.60 will make you forget about the correction and recall the uptrend.
