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Price Signal Summary - EURUSD Trend Needle Points South

OUTLOOK
  • In FX, EURUSD conditions remain bearish and price is in consolidation mode for now. This pause appears to be a bear flag formation, reinforcing bearish conditions The bull channel breakout last week strengthened the downtrend and has opened 1.0668 next, the Jun 7 low. The channel is drawn from the Mar 15 low. Note that MA studies are in a bear mode set-up, highlighting the market's current sentiment. Initial resistance is at 1.0799, the former channel base.
  • The trend needle in GBPUSD continues to point south. and the pair remains closer to its recent lows. Last week’s breach of 1.2548, the Aug 25 low, confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode position too, highlighting a downtrend. The focus is on 1.2433, Jun 8 low. Initial firm resistance is at 1.2591 the 20-day EMA.
  • The USDJPY trend condition remains bullish and the pair is trading closer to its recent highs. Resistance at 147.37, the Aug 29 high and a bull trigger, has recently been breached . This confirms a resumption of the uptrend and opens 148.40 next, the Nov 4 2022 high. On the downside, 144.45 represents the key short-term support, the Sep 1 low. A break of this level is required to highlight a short-term top.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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