Looking at the 4-hour chart, the GBP/USD is facing double top around 1.2577 area, and below this, the pair can stay bearish. Eyes remain on the FOMC and UK CPI figures which are due later today. Consider staying bearish below 1.2480 area to target 1.2400 today but try to come out of a trade before the news time.
The USD/JPY may gain support n107.750 and resistance at 108.300. So consider keeping an eye in 108.300 to stay bearish below this level to target 107.950 and 107.750 today. Buying can be seen above this level.
Looking at the 4-hour chart, the AUD/USD has violated the bullish channel, which tends to support the pair around 0.6870. Alongside, the triple top pattern also pushed the pair lower amid weaker Aussie on Dovish RBA. Besides that, there's a bearish crossover on 20, and 50 periods EMA which is signaling selling trend in AUD/USD. Consider staying bearish below...
Recalling our previous brief, the USD/JPY opened with a bearish gap to place a low of around 107.450. However, the bulls jumped in pretty soon to buy a cheaper and oversold pair. At the moment, the USD/JPY may find support around 107.750 and resistance at 108.300. Consider staying bearish below 108.300 to target 107.950 and 107.750 today.
The signal currency Euro has made a bearish movement to complete the Fibonacci retracement at 61.8% retracement level at 1.0999. Closing of Doji candles above this level is hiking the odds of a bullish reversal. Whereas, the series of 20, 25, and 50 periods EMA are signaling selling trend in the EUR/USD.
Therefore, you should consider staying bearish only below...
XAU/USD – Trading Tips
Gold opens with a massive gap as investors are concerned about the uncertainties coming from Saudi Arabia’s oil processing unit attacks. At the moment, it's trading in 1503, after testing a double top resistance at 1512. Immediate support can be seen around the 1500 area. Whereas, violation of this level can extend the bearish rally until 1489.
USD/JPY – Trading Tips
The USD/JPY has opened with a bearish gap to place a low of around 107.450. But soon it turned bullish to fill most of the gap around 107.900. For now, consider trading bearish below 108.250 and bullish above 107.450.
EUR/USD – Trading Tips
The EUR/USD hasn't changed much as investors focus shifted to gold and crude oil. Both of the currencies, Euro and U.S. dollar, are weaker and which is the reason we see sideways movement.
The EUR/USD has immediate support around 1.1060 which is giving an excellent push to EUR/USD. On the upper side, resistance is staying around 1.1100....
AUD/USD – Trading TipsOn the technical front, the AUD/USD consolidates in a narrow range of 0.6880 to 0.6865. So far, it hasn't made big moves as investors focus stayed on ECB and Euro pairs. Moreover, we didn't have any major news from China which could have impacted the Aussie. The 20 and 50 periods of EMAs are signaling a bullish bias among traders. Therefore,...
Technically. the USD/JPY is still trading in the overbought zone and it's likely to reverse back a bit before continuing with the bullish treend. Bullish channel is likley to extend supoort around 107.888 and the violation of this level could extend bearish trend until 107.600. On the upper side, resistance is lijkely to stay around 108.250 today.
On the technical front, the AUD/USD continues to trade in the bullish channel, which is likely to support Aussie around 0.6860. On the other hand, resistance stays at 0.6914. The EMA is also signaling a bullish bias among traders. Therefore, I would consider staying bullish above 0.6860 and bearish below 0.6910 today.