The EURUSD Stands Still For the Entire Day
The new trading week has started, however the market continues to stand still. The EURUSD steeped in a 20-points range, so there is nothing to add to the previous outlooks. The forecast remains the same: a breakout through 1.3905 will open the way to the highs at the level of 1.3966. A breakout through them will cause testing 1.4000. In turn, a fall below 1.3800-1.3772 will weaken a bearish impulse and give a reason to presume the formation of a top.
The GBPUSD Sticks In 30-points Range
Yesterday appeared to be unsuccessful for both the EURUSD and the GBPUSD. The only difference is that the pound was fluctuating in a 30- points range. Today, the pair is approaching the 69th figure, however it is still unclear if it is the beginning of a movement, or it enters another range. Thus, the forecast remains the same: bulls` perseverance can lead to testing the psychological level of 1.7000, but the MACD doubts now regarding their ability to move significantly higher than current levels. A fall below 1.6765 will give a reason to assume the formation of a top.
The USDCHF Stands Still
There were not any movements both in the EURUSD and in the EURCHF, so the USDCHF stood also still. Thus, the overall picture was not changed yesterday. The dollar remains under pressure, and it still trades below a descending resistance line that testifies about preservation of a descending trend. Nevertheless, the 87th figure has not been tested yet and, correspondingly, it was not overcome that could lead to the formation of a base and the development of an ascending correction. Bulls need to overcome the resistance around 0.8951 for this. Loss of the 87th figure will open the way to 0.8568.
The USDJPY Still Can Test 101.59
Yesterday, the USDJPY started declining to 101.86 where it was bought out, and it returned to 102.11. The rest of the time it was within these levels. Risks to test and to break through the support around 101.59-101.22 are kept. To weaken bearish pressure bulls need to overcome the 103rd figure and consolidate above. In this case they can reckon on testing the 104th one.
