The overall direction of the U.S dollar index turned bearish after the index fell below 100.00 and yesterday it extended the bearish close below 99.40. At the current time, the index might continue its weakness toward daily SMA 200 and 98.40. If the index manages to reach the support levels then traders could consider entering long positions. Wait until major bullish pattern confirmed before jump in positions. 09.00 AM U.S ISM Manufacturing PMI, forecast 36.7 For full outlook for this week, you can follow Forex Outlook For The Week April 27 – May 01, 2020 EUR/USD continues its path higher toward the 1.1000 and daily SMA 200. No change to the direction yet, we expect the pair to test the resistance levels and form bearish reversal pattern. However, if the pair jump above daily SMA 200 with strong bullish momentum then we will switch to the bullish view. today critical levels to watch: Support: 1.0900, 1.0800, 1.0650 Resistance: 1.1000 GBP/USD currently testing the 1.2625 resistance level and might breakout above it. Above the 1.2625 resistance, there is daily SMA 200 to watch. If the pair form a major bearish reversal pattern after the resistance test then traders could consider short positions. On the other hand, if the pair could climb above daily SMA 200 and closed with strong bullish momentum then it is better to avoid short positions. Today Critical level to watch: Support: 1.2500, 1.2200, 1.2000 Resistance: 1.2625 USD/JPY bounced from the 106.70 support level also formed a bullish engulfing pattern. However, the pair losing upward momentum and currently lower to retest the support level. If the pair closed below previous day low then traders will expect further bearish continuation toward 105.00 Today critical levels to watch: Support: 106.70, 105.00 Resistance: 108.00, 109.00 AUD/USD pushed lower below 0.6500 and might start a new bearish trend. At the current time, the pair has moved below the previous day low with strong momentum. As long as the bear could maintain the bearish pressure and make the price closed lower then AUD/USD set to restart its bearish movement. Today critical levels to watch: Support: 0.6300 Resistance: 0.6500, 0.6700

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