Currency Majors Technical Perspective

Forex Special

EUR/USD Current Price: 1.2331

Pair tested 1.2400 area past Friday, probably on profit taking ahead of the weekend, yet unable to hold gains, is back under pressure in this choppy Monday. Bearish according to hourly indicators, pair is testing 1.2330 support area, pressured by EUR/CHF that continues falling this time, reaching 1.3355 daily low. 4 hours charts show 20 SMA around mentioned 1.2330 with a slightly bullish slope, thus indicators are also heading south in this time frame, limiting the upside ahead of US opening. 

Support levels: 1.2330 1.2300 1.2260

Resistance levels: 1.2365 1.2400 1.2460

GBP/USD Current Price: 1.5071

As past week, Pound is among the strongest currencies of the board: after a short lived bearish correction, pair is again close to past week high, with hourly indicators supporting a bullish continuation and 20 SMA nicely up, acting as dynamic support. 4 hours indicators also turned north, supporting the bias, with the pair aiming to establish above 1.5100. Swing trading seems to be the name of the game in the pair, that refuses to change trend despite market sentiment woes.

Support levels: 1.5060 1.5010 1.4960

Resistance levels: 1.5080 1.5120 1.5165

USD/JPY Current Price: 89.25

Consolidating at monthly lows, and despite the lack of strength, pair continues holding a bearish tone, as per yen safe haven condition; Technical indicators both in 1 and 4 hours charts show lack of strength, so pair likely trade on stocks and risk mood; break under 89.20 could trigger stops sending the pair towards 88.50 support area, and even to test past month lows around 88.00. 

Support levels: 89.20 88.80 88.50

Resistance levels:  89.60 89.90 90.20 

USD/CHF Current Price: 1.0843

Swiss Franc is no doubts the star of the forex market these days, continuing its unstoppable gains across the board. Despite extremely oversold in almost any intraday time frame, pair holds a strong bearish momentum, that would likely extend if Wall Street turns south after US disappointing data. However, with 4 hours chart showing mentioned extreme conditions, pair could trigger some bullish corrective movement before breaking under 1.0800 static support zone.

Currency Majors Technical Perspective

EUR/USD Current Price: 1.2291

Holding under 1.2300, pair holds a bearish tone coming from hourly indicators capped by 20 SMA around 1.2320 right now. Pair remains under pressure as risk aversion continues pushing US stocks lower; 4 hours indicators show the same picture, with indicators heading south keeping the upside limited for the pair. 

Support levels: 1.2240 1.2210 1.2160

Resistance levels: 1.2320 1.2350 1.2390

GBP/USD Current Price: 1.4945

Pound holds the bullish strength present all the week, with both 1 and 4 hours indicators supporting further rises despite risk aversion environment seen since early Europe. Pair now needs to confirm above 1.4960 to extend the rally near 1.5010 yesterday’s high. 1.4860 seems strong enough to keep the downside limited today, and only under this last, pair could lose the bias, not likely at this point. 

Support levels: 1.4920 1.4860 1.4820

Resistance levels: 1.4960 1.4990 1.5010

USD/JPY Current Price: 89.43

Still under pressure, pair holds a bearish tone in bigger time frames despite hourly CCI looks exhausted to the downside at this point.  Pair is capped again by the 89.50/60 resistance area, and only above this last pair could attempt a bullish rally; a break under  89.20 strong support, could trigger a continuation rally heading towards 88.50 area.

Support levels: 89.20 88.80 88.50

Resistance levels:  89.60 89.90 90.20 

USD/CHF Current Price: 1.0986

Swiss Franc printed a fresh weekly low as per own strength holding the strong bearish tone that lead the pair all week long. Hourly indicators as well as 4 hours one support further fall, with no signs or correction or reversal yet. An acceleration under today’s low, likely trigger a strong continuation rally towards the 1.0900 zone.

Support levels: 1.0980 1.0940 1.0900

Currency Majors Technical Perspective

EUR/USD Current Price: 1.2289

Pair gained back the upside, after approaching to key 1.2240 support area, where investors seem to have decided to retake bullish positions. Hourly indicators turned back north, with price heading towards 1.2310, still far from a bullish signal 20 SMA above current price should offer some resistance, while 4 hours indicators remain bearish, also limiting the upside for now.

Support levels: 1.2285 1.2240 1.2210

Resistance levels: 1.2310 1.2350 1.2390

GBP/USD Current Price: 1.4795

Pound rose 140 pips in the last hour, turning slightly bullish yet finding resistance for now at the 20 SMA in the 4 hour chart at 1.4800. Indicators lost previous momentum, and pair aims for a downside correction heading towards 1.4760/70 area, now immediate support ahead of US opening; 4 hours indicators remain bullish yet only an acceleration above 1.4820 could signal further upside ahead.

Support levels: 1.4770 1.4720 1.4685

Resistance levels: 1.4820 1.4860 1.4890

USD/JPY Current Price: 90.66

Failure to hold above 200 DMA has put pair back under pressure, thus quite limited in range as it has been for most this year. Slightly bearish according to 1 and 4 hours indicators, under 90.20 support pair could extend the rally to the 89.70 thus further falls seem limited at this point. Trades in the pair are far from been recommended lately, as adding to the range, lack of volume is also strong in the cross.

Support levels: 90.20 89.70 89.30

Resistance levels: 90.90 91.20 91.50

USD/CHF Current Price: 1.1071

Consolidating around 1.1100, pair holds a bearish tone according to hourly indicators: under 20 SMA pretty flat, momentum retreating from 100 level, and RSI crossing upside down 50 level, technically point for further falls, yet confirmation under 1.1055 daily low should be seen to confirm the downside extension.

Support levels: 1.1055 1.1020 1.0980

Resistance levels: 1.1100 1.1130 1.1170