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Price Signal Summary - EURUSD Gains Extends

OUTLOOK
  • In FX, EURUSD is trading higher again today and the pair has moved above resistance at 1.0760, the Mar 15 high. A clear break of this level would strengthen the current bull theme. This would signal scope for gains towards 1.0803 next, the Feb 14 high. On the downside, key short-term support has been defined at 1.0516, the Mar 15 low, where a break is required to reinstate the recent bearish theme.
  • GBPUSD traded higher Monday and in the process cleared resistance at 1.2204, the Mar 14 high. This has strengthened the case for bulls and note that resistance at 1.2269 has been pierced, the Feb 14 high. Sights are on 1.2296 next, 76.4% retracement of the Jan 23 - Mar 8 bear leg. On the downside, key short-term support is unchanged at 1.2011, the Mar 15 low. A move below this level would reinstate the recent bearish theme.
  • The current bear cycle in USDJPY remains in play. The pair traded lower Monday, reinforcing current conditions. 131.31, 61.8% retracement of the Jan 16 - Mar 8 rally, has been cleared. The break sets the scene for weakness towards 129.75, the 76.4% retracement. On the upside, firm resistance is seen at the 20-day EMA. The average intersects at 134.09 where a break is required to ease bearish pressure.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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