The EURUSD Corrected after Fall
Monday’s Asian session began in a negative way for the EURUSD, which opened below Friday’s close. However, the pair showed a positive attitude in European and American sessions, having adjusted almost for 100 points – to the level of 1.2444. This point managed to provide the resistance at this stage. That’s why it is logical to expect the decline resumption and testing the support around 1.2380/58, although the rebound in the direction of the 25th figure is possible, where the activation of bears also should be expected. The growth above will become a positive signal for the euro.
The GBPUSD Continues to Consolidate in Range
The situation of the GBPUSD has not changed for the last day. The pair is continuing to consolidate in the range limited by the support around 1.5628 and the resistance around 1.5714. There is no stimulus to open short positions at the current levels at the moment, as well as the desire to take profits on short positions. Thus, the risks of the fall resumption are kept, but the growth above 1.5766 will considerably lower them.
The USDCHF Fell to Support Around 0.9666
Having started the week with a positive note, the USDCHF pair failed to continue its growth and fell to the support around 0.9666. This level still copes with its task successfully that keeps hope for testing the resistance around 0.9741, the breakout of which will force the ascending impulse. The loss of the support will open the way to 0.9555. The breakout of this level will signal about the development of a deeper correction.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
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.
The USDJPY Still Bought on Dips
The USDJPY rebounded from the support around 117.83 and rose to the resistance of 118.48 yesterday. There were no willing to buy it and today the pair returned to the above mentioned support in Asian session. Obviously, it is in a consolidation phase after the growth, and it means a breakout of highs and the growth resumption, or passage of the support around 117.83/35 and the development of a downward correction. In this case, it should be remembered that the downtrend of the yen is kept. Perhaps today’s US GDP data will encourage the movement in one or another direction.
