U.S dollar index launched upward and closed above 99.40 yesterday. The index looks bounced from the level near SMA 200 and 98.40. At the current time, there is no bullish follow-through yet in the index. If the index continues its upward movement then traders will expect retest on 100.00 – 100.30 area. 09.00 AM U.S ISM Non-Manufacturing PMI, forecast 37.5 For full outlook for this week, you can follow Forex Outlook For The Week 04 – 08 May 2020 EUR/USD rejected from the 1.1000 resistance and continues its bearish movement below 1.0900 today. The pair might extend its bearish movement and target the 1.0800 support level. However, it is also possible for the pair to bounce from 1.0900 and retest daily SMA 200 and 1.1000 again. today critical levels to watch: Support: 1.0900, 1.0800, 1.0650 Resistance: 1.1000 GBP/USD bearish reaction from 1.2625 might happen for short-time only. The pair currently attempting to reverse the bearish pressure and start moving upward again. On the upside, 1.2625 and SMA 200 are the levels to watch. If the pair could close above both resistance levels then GBP/USD set to target 1.2800 and 1.3000. Today Critical level to watch: Support: 1.2500, 1.2200, 1.2000 Resistance: 1.2625 USD/JPY maintained the positions near 106.70 without many reactions from the support level. No clue on the next direction yet. The pair could either bounce from the support level or breakout below it. Traders will continue to observe the closing level at the end of the day. Today critical levels to watch: Support: 106.70, 105.00 Resistance: 108.00, 109.00 AUD/USD direction slowly turned upward again after the previous day bullish close. The pair might target 0.6500 and higher. On the upside, traders will observe the pair reaction near SMA 200 and 0.6700 if the pair manage to reach it. Today critical levels to watch: Support: 0.6300 Resistance: 0.6500, 0.6700

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