The EURUSD Decreasing Slowly
The beginning of the new trading week was boring and uninteresting. The EURUSD was mostly under pressure and declining. At first the pair found support around the level of 1.3770, growth attempts were limited by the level of 1.3817. Thus, consolidation of the pair, after it has increased to 1.3832, continues. Recessions are limited: demand persists, that prevents the bears to test at least support at 1.3740. However, it is wise not to exclude a decline to this level as well as to 1.3709. The possibility of opening long positions should be considered. A breakout through resistance of 1.3832 will cause growth to 1.3850-1.3900.
The GBPUSD Falls to Resistance at 1.6064
On Monday and during Tuesday`s trading Asian session the GBPUSD was more active. After an unsuccessful attempt to be consolidated above 1.6200, the pair was declining until it reached the level of support around 1.6124. After a pullback to 1.6165 a decline resumed and continued until the pound fell to the support at 1.6064, where on the 4 – hour chart the 100-day moving average was traversing. Placed bids allowed the pound to recover to the level of resistance around 1.6118 . Thus, the pair is clearly trying to create a peak above the 62nd figure. In this case, we will see a fall to the 59th figure, where the bulls can be activated. The loss of this support will increase pressure on the pair, and the rate will fall to 1.5800-1.5766.
The USDCHF Increases to 0.8972
The USDCHF continued to be consolidated after having fallen to 0.8889. From support around the level of 0.8922, the pair rose to 0.8962, and later – to 0.8972, where on the 4-hour chart a 50-day moving average is traversing. The interest in sales while a growth persists, it is better not to exclude growth to 0.9000-0.9044. We should consider a possibility of short positions opening. Growth and ability to be consolidated above 0.9200-0.9220 will confirm the formation of the base in the 89th figure. Then the bulls will be able to rely on testing the 93rd figure.
The USDJPY Risking To Return To the 97th Figure
The USDJPY was traded with positive sentiment, having tested unsuccessfully resistance at 97.75. Realizing the futility of attempts, the bulls were forced to retreat, and the dollar declined to 97.46. The pair continues to be traded in a range, but below the descending resistance line. Therefore, in the short term its rate could return to support around the 97th figure, a breakout of which will inspire the bears to test 96.56. A rise above 97.75 will improve the pair’s outlook, and then bulls will test 98.48.
