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Price Signal Summary - Key Resistance In EURUSD Remains Exposed

OUTLOOK
  • In FX, EURUSD traded higher Friday. The bounce affirms the view that the recent pullback has been corrective. The recovery from support at 1.0835, the Jun 30 low, has resulted in a break of 1.0934, the Jul 3 high. This reinforces a bullish condition and opens 1.0977, the Jun 27 high, ahead of the bull trigger at 1.1012, the Jun 22 high. Key support has been defined at 1.0835 where a clear break is required to reinstate a bearish theme.
  • GBPUSD traded higher again Friday, ending the week on a firm note. This reinforces bullish conditions and attention is on key resistance at 1.2849, the 0.618 projection of the Mar 8 - May 10 - May 25 price swing and Friday’s intraday high. A clear break of this level would confirm a resumption of the uptrend and open 1.2877, the Apr 25 2022 high. Key short-term support has been defined at 1.2674, the Jul 6 low. A break would be a short-term bearish development.
  • USDJPY traded sharply lower Friday, ending the week on a bearish note. The pair has breached the 20-day EMA and attention is on 142.24, the former bull channel top. This level has been pierced, a clear break would signal scope for a deeper correction and open 140.30, the 50-day EMA. Longer-term, the primary trend direction remains up. The bull trigger is at 145.07, the Jun 30 high.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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