Uncertainty has regained trading desks this Thursday with majors trading in limited range since mid American session. The EUR/USD however, held its upward pressure as the pair managed to close the day with modest gains, unable to break above the short term descendant trend line coming from 1.3858, past November 9th daily high. Hourly chart shows indicators flat around their mid levels, giving no much of a clue for upcoming session, while in the 4 hours chart the pair continues losing momentum. Ahead of tomorrow’s US Payrolls, the pair will likely remain trading in a limited range, waiting for a clearer heads up from the report.
Support levels: 1.3440 1.3400 1.3365
Resistance levels: 1.3480 1.3530 1.3570
Intraday unchanged, the GBP/USD fell strongly from 1.5755 daily high reached during past European session, showing selling interest is not yet gone and confirming the lack of definitions among investors. Hourly chart, shows momentum aiming slightly higher yet price struggling with a flat 20 SMA, while in the 4 hours one, indicators are gaining bearish tone still above their midlines. 4 hours chart 20 SMA is losing momentum currently around 1.5530, also Thursday low: a break below that area should favor the bearish bias over the upcoming sessions.
Support levels: 1.5670 1.5630 1.5590
Resistance levels: 1.5730 1.5770 1.5810
Despite the limited intraday range, the USD/JPY price action develops inside a short term ascendant channel, clear in the hourly chart. Hourly indicators are flat around their midlines while 20 SMA provides little support just below current price. The picture is quite the same in the 4 hours chart, with price capped by 20 SMA currently around 77.80. Expect the pair to trade in a limited 77.50/77.80 range until US employment data relase.
Support levels: 77.50 77.25 76.90
Resistance levels: 77.80 78.05 78.40
The AUD/USD has been losing momentum since reaching the 61.8% retracement of the latest daily fall, yet finding support around 1.0190, immediate support. The upside has remained capped by a short term descendant trend line, currently around 1.0250 while hourly indicators remain directionless. In the 4 hours chart, indicators are also losing bullish momentum, yet far from a selling sign. Having set a daily low around 1.0450, clear breaks below may give sellers courage enough to resume the bearish trend.
Support levels: 1.0190 1.0145 1.0100
Resistance levels: 1.0250 1.0290 1.0330
New to forex? Visit our Glossary!
Today you will find the term, Gilt-edged Securities.
 |
"Simply a Must Read for Every Serious Forex Beginner" Available at Amazon Now also for Kindle
|
