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Price Signal Summary - EURUSD Trend Outlook Remains Bearish

OUTLOOK
  • In FX, EURUSD conditions remain bearish and the recent consolidation appears to be a bear flag formation. The bull channel breakout last week reinforced a bearish condition and has opened 1.0668 next, the Jun 7 low. The channel is drawn from the Mar 15 low. Key resistance is at 1.0945, the Aug 30 high. Initial resistance is at 1.0797, the former channel base.
  • The trend needle in GBPUSD continues to point south. 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 1.2602, the 20-day EMA.
  • The USDJPY trend condition remains bullish and the latest pullback appears to have been a correction. Resistance at 147.37, the Aug 29 high and a bull trigger, was breached last week, confirming a resumption of the uptrend and has opened 148.40 next, the Nov 4 2022 high. On the downside, 144.45 represents the key short-term support, the Sep 1 low.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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