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Price Signal Summary - EURUSD Trend Needle Points South

OUTLOOK
  • In FX, EURUSD found resistance last week at 1.0932 (Jan 24 high) and a bearish theme dominates for now. 1.0822, the Jan 23 low, has been pierced. A clear break of it would resume the current downtrend. Sights are on 1.0793, 50.0% of the Oct - Dec bull leg. On the upside, clearance of 1.0932 would instead signal scope for a stronger recovery and expose key short-term resistance at 1.0998, the Jan 5 high.
  • GBPUSD is in consolidation mode. Key resistance is at 1.2827, the Dec 28 high, and key support lies at 1.2597, the Jan 17 low. Both price points represent important directional triggers. A break of 1.2827 would resume the uptrend and open 1.2881, 76.4% of the Jul 14 - Oct 4 bear leg. For bears, clearance of 1.2597 would highlight a S/T reversal and open 1.2500, the Dec 13 low.
  • The USDJPY trend outlook remains bullish and the pair is holding on to the bulk of its recent gains. Moving average studies have crossed and are in a bull-mode set-up. This reinforces the current trend condition. Sights are on 149.16 next, 76.4% of the Nov 13 - Dec 28 bull leg. Initial firm support to watch lies at 146.08, the 50-day EMA.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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