The EURUSD Rebounded from Low
Yesterday the EURUSD continued to fall, having marked fresh lows of 1.1887. At this stage speculators decided to take profits amid what the pair managed to recover to the resistance around 1.1968. Undoubtedly, this recovery does not mean a reversal of the downward trend, and the risks of its resumption are kept. The recovery towards 1.2000 may be used for re-opening of short positions, followed by testing the current lows. Growth and the ability to consolidate above 1.2000 will weaken the downward pressure.
The GBPUSD tested 1.5202
Having continued the fall the GBPUSD broke the support around 1.5290 and fell to 1.5202. After its testing the pair slightly recovered, having approached to the resistance around 1.5290 now, this is still successfully holding back the bulls’ pressure. Risks of the decline resumption are kept, the pound may retest 1.5202. The breakout of this level will strengthen the downward pressure and open the way to 1.5000. The rebounds towards 1.5290-1.5377 may be used for re-opening of short positions, the growth and the ability to consolidate above the last level may signal that the pound has reached temporary “bottom”.
The USDCHF Declined from 1.0107
Yesterday after the USDCHF reached the resistance around 1.0107, the pair was under quite moderate pressure, amid which it declined to the support around 1.0040. Bids placed here are holding back the bears’ pressure, that gives an opportunity to suggest the growth resumption and retesting of the above mentioned resistance. While the pair is traded above 1.0000, chances of the development of this scenario will remain high, and the fall, and the ability to consolidate below will be a wake-up call for bulls.
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The USDJPY Broke Presumed Goals
As we have expected, the inability of bulls to overcome the resistance around 120.74 regarding the USDJPY provoked profit-taking on long positions, which led to the decline of the pair and testing 120.00. Moreover, this level was broken and the pair fell to 1.1865, having broken another designated purpose of the 119th figure. The drops are continuing to attract interest for buying, but the dollar has to go back and consolidate above 120.00 for the growth resumption. Otherwise, the downward correction will gain the momentum. It is not necessary to talk about the end of the uptrend yet.
