The pick of the day is GBP/USD, as the UK economy continued to impress us yesterday. Data from three hot economic sectors came out higher than our already high expectations. Mr. British pound continued dancing up on the dance floor but for every winner there’s a loser and that loser was Ms. USA as we covered yesterday, she was going down and helping the pair’s upward movement on the dance floor.
The pair remains above the Ichimoku cloud, rapidly approaching our target at 1.704 with the RSI above the overbought zone. There is a possibility that the pair continues to dance up to 1.74. Our next move would be watching out for this market to get saturated. Once we get that bearish signal, we could expect the pair to go down with the fist bearish target at 1.62741.
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Intraday Forex Technical Levels
EUR/USD: bullish bias above 1.364. |
Invest Diva preference: Long positions above 1.364 with targets @ 1.405 & 1.4245 in extension.
Alternative scenario: Below 1.364 look for further downside with 1.345 & 1.33 as targets.
Comment: The pair has validated a ST falling wedge (continuation pattern), calling for further advance as the RSI is supported by a rising trend line.
Supports and resistances:
1.454
1.4245
1.405
1.3924 Last
1.364
1.345
1.33
USD/JPY: bullish bias above 100.3. |
Invest Diva preference: Long positions above 100.3 with targets @ 103.7 & 105.45 in extension.
Alternative scenario: Below 100.3 look for further downside with 97.7 & 96 as targets.
Comment: The pair is facing a pull back on its support.
Supports and resistances:
107.5
105.45
103.7
101.7425 Last
100.3
97.7
96
GBP/USD: the upside prevails.
Invest Diva preference: Long positions above 1.645 with targets @ 1.704 & 1.74 in extension.
Alternative scenario: Below 1.645 look for further downside with 1.62 & 1.587 as targets.
Comment: The pair has validated a bullish flag, remains within a bullish channel, and is breaking above its previous top.
Supports and resistances:
1.79
1.74
1.704
1.6971 Last
1.645
1.62
1.587
USD/CHF: under pressure.
Invest Diva preference: Short positions below 0.8965 with targets @ 0.858 & 0.8275 in extension.
Alternative scenario: Above 0.8965 look for further upside with 0.915 & 0.938 as targets.
Comment: The pair has struck against its resistance and remains under pressure.
Supports and resistances:
0.938
0.915
0.8965
0.875 Last
0.858
0.8275
0.8005
USD/CAD: the upside prevails.
Invest Diva preference: Long positions above 1.07 with targets @ 1.105 & 1.128 in extension.
Alternative scenario: Below 1.07 look for further downside with 1.044 & 1.0175 as targets.
Comment: The pair is facing a pull back on its support.
Supports and resistances:
1.146
1.128
1.105
1.0887 Last
1.07
1.044
1.0175
AUD/USD: the upside prevails.
Invest Diva preference: Long positions above 0.912 with targets @ 0.954 & 0.976 in extension.
Alternative scenario: Below 0.912 look for further downside with 0.89 & 0.865 as targets.
Comment: The pair has rebounded above a rising trend line and has validated a bullish flag.
Supports and resistances:
0.997
0.976
0.954
0.9336 Last
0.912
0.89
0.865
