The U.S. dollar index moved up again and added to today’s gains. A higher swing high point was formed so that the current bullish trend has not stopped yet. In this situation, no short positions are recommended and traders can only wait for a bearish correction. When the index moves down to the support point, traders will observe whether there is a bullish bounce or not. If the bullish bounce occurs then the bullish trend will continue. EUR/USD dropped below 1.0650 now and continues to weaken. It seems that the pair will not reverse direction for now and traders should not enter long positions. If the pair does not immediately rise back above 1.0650 then the current bearish trend may continue deeper. Further decline and formation of a lower swing low will confirm the continuation of the bearish trend. If the pair moves up then the point 1.0650 can become a resistance point where a bearish bounce occurs. Today’s critical levels to watch: Support: 1.0650 Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360 GBP/USD fell and reached 1.2200 today. The pair does not show any indication of a bullish reversal so traders should not enter long positions with large amounts. When the pair can bounce up strongly and close above the daily SMA 200 then the situation can become bullish again. For now, traders should watch for further reaction near the support point. Today’s critical levels to watch: Support: 1.2200 Resistance: 1.2625, 1.2800, 1.3000, 1.3250, 1.3300, 1.3330 USD/JPY continues its strengthening above 147.00 towards 150.00. If there is no change, the pair will be able to reach the resistance point in the near future. Traders who still have long positions will maintain those positions for now. If a bearish correction occurs then 145.00 – 147.00 is the area to watch for bullish reactions. Today’s critical levels to watch: Support: 145.00, 141.00, 140.00, 139.30, 137.70, 133.00 Resistance: 147.00 AUD/USD was rejected from 0.6500 and moved lower. However, there is no continuation of the bearish movement below last week’s low for now. The pair is still consolidating within Friday’s movement range. Will the pair continue its bearish movement by forming a lower swing low point? Or will the pair manage to rise again and close above 0.6500? Traders will continue waiting sideline for now. Today’s critical levels to watch: Support: Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000 SOURCE : https://tradertalks-net.translate.goog/s/19445?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

In the previous week, the bull manages to push the index up and reach a level near 91.00 for the first time since January breakdown. The index experienced correction after the level reached. Now, we see the bull returned near the blue box area and ready to push the index up again. ECB interest-rate decision this week and U.S job data should provide some volatility for the U.S dollar index. 04.30 AM UK Services PMI, estimate reading of 53.3 10.00 AM U.S ISM Non-Manufacturing PMI, forecast 58.9 10.30 PM Australia Cash Rate, 1.50% For full outlook for this week, you can follow Forex Outlook For The Week 5 – 9 Mar 2018 EUR/USD bounce from 1.2200 might turn into a short-term technical bounce as the pair rejected from top of the blue channel. If EUR/USD closed below 1.2300, then it is expected to move lower toward the bottom of the blue channel. Today critical level to watch: Support: 1.2200, 1.2100 Resistance: 1.2300, 1.2500 GBP/USD has broken below the triangle and 1.3835 support level. There is no bullish reaction seen which means the pair is looking for a downward catalyst. Today service PMI data might become the fuel for next movement. Today critical level to watch: Support:  1.3600 Resistance: 1.3800, 1.3850, 1.4000 No reason for the long position yet in USD/JPY as the pair ready to make new fresh low. We expect the bearish pressure will continue until the pair reaches 103.80 – 104.00. Today critical level to watch: Support: 106.10, 105.50, 105.00 Resistance: 107.00, 107.40, 109.00 Australia interest-rate decision is looming at the end of Monday trading session. The pair broke below the daily SMA 200 which is not a good sign. However, it is neutral situation before the interest-rate decision. Technically, it is the best time to look for a short position with a stop above 0.7875. Today critical level to watch: Support: 0.7750, 0.7690 Resistance: 0.7800, 0.7875 SOURCE : https://tradertalks-net.translate.goog/s/20000?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

There is nothing to stop U.S dollar index upward movement yet. The index breaks above 96.70 resistance today and headed to 97.50 resistance. Looking at the upward momentum, it looks like the index will reach the resistance this week. For full outlook for this week, you can follow Forex Outlook For The Week 4-8 March 2019 Opposite of U.S dollar index, EUR/USD move down with strong momentum today. The bearish move drives the price below 1.1300 support level. If the bearish pressure continues then EUR/USD will print fresh low below previous month low. Today critical levels to watch: Support: 1.1300, 1.1200 Resistance: 1.1360, 1.1400 GBP/USD drifted lower from 1.3250 and moving toward daily SMA 200. The pair projected will test the averages soon and next direction will be determined after the event. This week, if GBP/USD could stay above SMA 200 then it is possible the pair will stage a rally next week. Today Critical level to watch: Support: 1.3000, 1.2800, 1.2625 Resistance: 1.3250, 1.3300, 1.3330 No change to the USD/JPY projection yet. The pair still trapped between daily SMA 200 and 112.00 resistance. It has closed below the level for two days and might extend it to three days. Traders might want to stay sideline with bullish bias right now. Today critical levels to watch: Support: 111.00, 110.50, 110.00 Resistance: 112.00 A fresh low printed on the AUD/USD daily chart, the bull might not able to reverse the current situation. On the chart, the pair stick near the support trendline without significant lower close. Will the bear managed to get a decisive lower close today? Today critical levels to watch: Support: 0.7000 Resistance: 0.7080, 0.7160, 0.7200 SOURCE : https://tradertalks-net.translate.goog/s/19999?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

U.S dollar index returns to its bearish direction and slides lower today. The index sits near the top of the blue box which might become the base for a bounce. However, for now, it is better to stay away from U.S dollar as it might start a new bearish leg lower. It is possible for the index to slide before ECB interest-rate decision this week which is followed by U.S job data. 1.15 PM MPC Member Haldane Speaks For full outlook for this week, you can follow Forex Outlook For The Week 5 – 9 Mar 2018 EUR/USD bounce accelerated as it leaves 1.2300 level, the pair now has a bullish advantage before ECB interest-rate decision. Will it continue upside and break the 1.2500 resistance after the rate decision? Today critical level to watch: Support: 1.2300, 1.2200, 1.2100 Resistance: 1.2500 The bull is back in control of GBP/USD as the pair move above 1.3835 broken support. Although it is positive, the bull still needs to break above the black trendline before we could assume the trend turn bullish. Otherwise, a bounce from the trendline followed by the move below 1.3835 will trigger heavy selling. Today critical level to watch: Support:  1.3850, 1.3800, 1.3600 Resistance: 1.4000 The bull has not given up yet on USD/JPY after the previous bullish close above 106.10. The reaction produces a bullish harami pattern and needs a confirmation close above the two days candle high. There is no close above the candlestick yet and traders waiting for major news event this week. Traders could look for a long position with a ¶stop below the bullish harami low. Today critical level to watch: Support: 106.10, 105.50, 105.00 Resistance: 107.00, 107.40, 109.00 Despite the bullish jump by AUD/USD today, the pair has not challenged the downtrend line shown on the daily chart yet. The trend expected to continue bearish as long as AUD/USD stay below the downtrend line. The orange area could become the level to look for a short position, but beware of daily SMA 200 below it. Today critical level to watch: Support: 0.7800, 0.7750, 0.7690 Resistance: 0.7875 SOURCE : https://tradertalks-net.translate.goog/s/19998?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

A break and close above 96.70 in U.S dollar index is a bullish confirmation for further upward movement to target 97.50. Today, there is bullish pressure but still limited below previous day high. Without any change in the direction, we could expect the index to hit 97.50 by the end of the week. For full outlook for this week, you can follow Forex Outlook For The Week 4-8 March 2019 EUR/USD fell for third days and closed near 1.1300 support level. Initially, the pair fell below 1.1300 but the bull returns to the market and brought the pair back above 1.1300. There is no breakout yet and EUR/USD might continue its movement between 1.1300 – 1.1360. Today critical levels to watch: Support: 1.1300, 1.1200 Resistance: 1.1360, 1.1400 GBP/USD dropped in the previous trading day but manage to bounce from 1.3125 support level and close the day at its opening level. Despite the bullish pattern, the pair currently back under pressure and testing 1.3125 support again. If the level broken then GBP/USD will continue its bearish movement to test daily SMA 200. Today Critical level to watch: Support: 1.3125, 1.3000, 1.2800, 1.2625 Resistance: 1.3250, 1.3300, 1.3330 USD/JPY stick near 112.00 resistance and showing no clue for next direction yet.  The pair expected to continue its ranging movement between daily SMA 200 and 112.00. At the current time, traders might want to stay sideline. Today critical levels to watch: Support: 111.00, 110.50, 110.00 Resistance: 112.00 After three days without close below the blue trendline, AUD/USD finally make a breakout today. The pair fall sharply and testing the bottom of the red channel. If the pair closed below the blue trendline by the end of the day then AUD/USD has confirmed bearish breakout and could continue lower. Today critical levels to watch: Support: 0.7000 Resistance: 0.7080, 0.7160, 0.7200 SOURCE : https://tradertalks-net.translate.goog/s/19996?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

A break and close above 96.70 in U.S dollar index is a bullish confirmation for further upward movement to target 97.50. Today, there is bullish pressure but still limited below previous day high. Without any change in the direction, we could expect the index to hit 97.50 by the end of the week. For full outlook for this week, you can follow Forex Outlook For The Week 4-8 March 2019 EUR/USD fell for third days and closed near 1.1300 support level. Initially, the pair fell below 1.1300 but the bull returns to the market and brought the pair back above 1.1300. There is no breakout yet and EUR/USD might continue its movement between 1.1300 – 1.1360. Today critical levels to watch: Support: 1.1300, 1.1200 Resistance: 1.1360, 1.1400 GBP/USD dropped in the previous trading day but manage to bounce from 1.3125 support level and close the day at its opening level. Despite the bullish pattern, the pair currently back under pressure and testing 1.3125 support again. If the level broken then GBP/USD will continue its bearish movement to test daily SMA 200. Today Critical level to watch: Support: 1.3125, 1.3000, 1.2800, 1.2625 Resistance: 1.3250, 1.3300, 1.3330 USD/JPY stick near 112.00 resistance and showing no clue for next direction yet.  The pair expected to continue its ranging movement between daily SMA 200 and 112.00. At the current time, traders might want to stay sideline. Today critical levels to watch: Support: 111.00, 110.50, 110.00 Resistance: 112.00 After three days without close below the blue trendline, AUD/USD finally make a breakout today. The pair fall sharply and testing the bottom of the red channel. If the pair closed below the blue trendline by the end of the day then AUD/USD has confirmed bearish breakout and could continue lower. Today critical levels to watch: Support: 0.7000 Resistance: 0.7080, 0.7160, 0.7200 SOURCE : https://tradertalks-net.translate.goog/s/19997?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

The bear won the battle Yesterday as U.S dollar index creep lower. However, there is no medium-term bearish confirmation yet as the index not farm from the top of the blue box. If the bull could reverse the index direction today, then it is possible the floor established and medium-term bounce in the making. The fundamental situation of U.S dollar index influenced by a recent comment by President Trump which could incite trade wars. Gary Cohn, the head of National Economic Council, resigned late Tuesday following the tariff related issue. The move also affirmed President Trump predicted a lean toward the protectionist economy. The situation might call for wild movement in the market. 08.15 AM U.S ADP Non-Farm Employment Change, forecast reading of 199k 10.30 AM U.S Crude Oil Inventories, estimated a surplus of 2.6 million barrels. For full outlook for this week, you can follow Forex Outlook For The Week 5 – 9 Mar 2018 Growing uncertainties in U.S accepted by chance to climb for EUR/USD. The pair enjoyed strong optimism as economic data pointed to the positive side and ECB turns more bullish each month. We might see the pair continue higher to 1.2500 before tomorrow ECB rate decision. Today critical level to watch: Support: 1.2300, 1.2200, 1.2100 Resistance: 1.2500 GBP/USD has done a great job moving above 1.3835 broken support. The pair might continue upward but limited by the trendline. There is no suggestion yet where the pair will move to next. Traders will watch the pair reaction when it tests the trendline. Meanwhile, 1.3835 is a place to look for a long position. Today critical level to watch: Support:  1.3850, 1.3800, 1.3600 Resistance: 1.4000 Despite the attempt to move higher, USD/JPY bull could not shake the selling pressure. The pair is back on defensive side and slide below 106.10 support. The direction is to the downside, and there is no reason to place long position yet especially when the bullish harami pattern not confirmed. Today critical level to watch: Support: 105.50, 105.00 Resistance: 106.10, 107.00, 107.40, 109.00 AUD/USD closed above 0.7800 and might trade between 0.7800 – 0.7875 until breakout happen. The pair also closed above the daily SMA 200 which is tested today. If the bull could maintain buying sentiment, then AUD/USD has a chance to move higher and break the trendline shown on the daily chart. Meanwhile, the pair expected to move inside the triangle pattern with SMA 200 as support. Today critical level to watch: Support: 0.7800, 0.7750, 0.7690 Resistance: 0.7875 SOURCE : https://tradertalks-net.translate.goog/s/19995?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

U.S dollar index is in a bullish streak which spans for the sixth day. The bullish streak looks will extend its record to the seventh day. On the chart, there is strong bullish momentum and the index getting near to 97.50 resistance level. Traders might want to avoid shorting U.S dollar at the current time, at least until the index hit 97.50 and form a bearish pattern. For full outlook for this week, you can follow Forex Outlook For The Week 4-8 March 2019 The pair manage to hold out above 1.1300 for the second day, however, the bear makes sharp push below the support level today. It will be a hard task for the bull to recover the pair above 1.1300 by the end of the day. If the pair closed below 1.1300 then EUR/USD might be open for further selling. Traders could use 1.1300 as the level to take short positions when retest happen. Today critical levels to watch: Support: 1.1300, 1.1200 Resistance: 1.1360, 1.1400 The weakness of GBP/USD repelled by the bull yesterday and resulted in a bounce. The bounce closed near its opening level yesterday. However, the bullish event does not last and today the pair back under pressure. The bear manages to push the pair below 1.3125 at the current time. If the bear could push the pair further lower below Monday low then we could expect GBP/USD to continue its bearish movement toward daily SMA 200. Today Critical level to watch: Support: 1.3125, 1.3000, 1.2800, 1.2625 Resistance: 1.3250, 1.3300, 1.3330 We have the same situation as yesterday in USD/JPY. The pair stick near 112.00 and showing no direction yet. The range shrinks from 50 pip to 30 pip and could shrink further. At the current time, there is no clue yet on the next direction and it is better to wait for momentum movement. Today critical levels to watch: Support: 111.00, 110.50, 110.00 Resistance: 112.00 AUD/USD dropped below blue trendline and confirm the breakout of the triangle range. The pair has lost the hope to stay bullish and currently expected to continue its bearish movement. If a bounce happens at current level then AUD/USD upward movement expected to cap around blue trendline or 0.7160. Today critical levels to watch: Support: 0.7000 Resistance: 0.7080, 0.7160, 0.7200 SOURCE : https://tradertalks-net.translate.goog/s/19994?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

U.S dollar index sticks near the top of the blue box and showing no sign of movement, and the index is in the waiting period before ECB interest-rate today and tomorrow job data. Traders suggested staying sideline for now until both news unveiled. The index could either bounce or break below the blue box. BOJ also will decide interest-rate later. 07.45 AM ECB Minimum Bid Rate 08.30 AM ECB Press Conference For full outlook for this week, you can follow Forex Outlook For The Week 5 – 9 Mar 2018 EUR/USD stay at the high before ECB interest-rate decision today. The pair looks will continue moving sideline until the rate decision and ECB press conference. There is more room toward 1.2500, but it will depend on today result. Today critical level to watch: Support: 1.2300, 1.2200, 1.2100 Resistance: 1.2500 Similar to EUR/USD, the pair turned directionless as ECB rate-decision and U.S job data loom. GBP/USD could either move higher to test 1.4000 or descend lower to test 1.3835. The resistance stays the same as previous day, the trendline. Today critical level to watch: Support:  1.3850, 1.3800, 1.3600 Resistance: 1.4000 There is no change in the USD/JPY analysis, the pair is at a critical level and could move further lower. Without any breakout upside, USD/JPY expected to move inside the bearish channel and reach 103.80. Today critical level to watch: Support: 105.50, 105.00 Resistance: 106.10, 107.00, 107.40, 109.00 AUD/USD also undergo a sideways trend inside the triangle and 0.7800 – 0.7875 range. Traders will wait for either reaction at the top of the trendline or a breakout above the trendline. Today critical level to watch: Support: 0.7800, 0.7750, 0.7690 Resistance: 0.7875 SOURCE : https://tradertalks-net.translate.goog/s/19993?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

The bullish streak of U.S dollar index extend to the seventh day and reached the 97.50 resistance. It could be time for the index to start consolidation or pullback before the next movement. The blow on China trade data set the market on risk-aversion mode as the export slump sharply. Not much change in U.S dollar index yet today. If today U.S job data show a severe decline then we could expect U.S dollar index continue further upside. 08.30 AM U.S Non-Farm Employment Change, estimate 180k Unemployment Rate, forecast 3.9% 10.00 PM Fed Chair Powell Speaks For full outlook for this week, you can follow Forex Outlook For The Week 4-8 March 2019 EUR/USD tumbled below 1.1300 and reach the bottom of the channel in one swoop. It is an extreme bearish situation after ECB sounded dovish and ready to restart the stimulus-driven policy. Currently, the pair attempting to bounce from the bottom of the channel. We think the bearish pressure has not ended yet and the pair could fall further lower. Today critical levels to watch: Support: 1.1200 Resistance: 1.1300, 1.1360, 1.1400 The pair manage to maintain the level above 1.3125 for two days. But, the bear proved to be strong and GBP/USD closed below 1.3125 yesterday. The close happens near the daily SMA 200 and today the bear followed through by pushing the pair lower. Traders could wait for the pair reach SMA 200 and form bullish pattern before placing long positions. Today Critical level to watch: Support: 1.3000, 1.2800, 1.2625 Resistance: 1.3125, 1.3250, 1.3300, 1.3330 The pair finally dropped from 112.00 resistance after stick near it for several days. No conclusion yet at the current time, the pair could reverse anytime and close the week above SMA 200. However, a close below SMA 200 might be the sign USD/JPY ready for a further correction. Today critical levels to watch: Support: 111.00, 110.50, 110.00 Resistance: 112.00 There is nothing to do yet in AUD/USD as the pair dropped below the blue trendline and hovering near the bottom of the red channel. It is traded downside and soon will hit 0.7000. Where will AUD/USD move next? Will it bounce and head to the black trendline and resume its bearish trend? Today critical levels to watch: Support: 0.7000 Resistance: 0.7080, 0.7160, 0.7200 SOURCE : https://tradertalks-net.translate.goog/s/19991?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

The bullish streak of U.S dollar index extend to the seventh day and reached the 97.50 resistance. It could be time for the index to start consolidation or pullback before the next movement. The blow on China trade data set the market on risk-aversion mode as the export slump sharply. Not much change in U.S dollar index yet today. If today U.S job data show a severe decline then we could expect U.S dollar index continue further upside. 08.30 AM U.S Non-Farm Employment Change, estimate 180k Unemployment Rate, forecast 3.9% 10.00 PM Fed Chair Powell Speaks For full outlook for this week, you can follow Forex Outlook For The Week 4-8 March 2019 EUR/USD tumbled below 1.1300 and reach the bottom of the channel in one swoop. It is an extreme bearish situation after ECB sounded dovish and ready to restart the stimulus-driven policy. Currently, the pair attempting to bounce from the bottom of the channel. We think the bearish pressure has not ended yet and the pair could fall further lower. Today critical levels to watch: Support: 1.1200 Resistance: 1.1300, 1.1360, 1.1400 The pair manage to maintain the level above 1.3125 for two days. But, the bear proved to be strong and GBP/USD closed below 1.3125 yesterday. The close happens near the daily SMA 200 and today the bear followed through by pushing the pair lower. Traders could wait for the pair reach SMA 200 and form bullish pattern before placing long positions. Today Critical level to watch: Support: 1.3000, 1.2800, 1.2625 Resistance: 1.3125, 1.3250, 1.3300, 1.3330 The pair finally dropped from 112.00 resistance after stick near it for several days. No conclusion yet at the current time, the pair could reverse anytime and close the week above SMA 200. However, a close below SMA 200 might be the sign USD/JPY ready for a further correction. Today critical levels to watch: Support: 111.00, 110.50, 110.00 Resistance: 112.00 There is nothing to do yet in AUD/USD as the pair dropped below the blue trendline and hovering near the bottom of the red channel. It is traded downside and soon will hit 0.7000. Where will AUD/USD move next? Will it bounce and head to the black trendline and resume its bearish trend? Today critical levels to watch: Support: 0.7000 Resistance: 0.7080, 0.7160, 0.7200 SOURCE : https://tradertalks-net.translate.goog/s/19992?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

There is a positive development in U.S dollar index Yesterday as it bounced from the top of the blue box. From the fundamental side, the bounce might result from the signing of tariff plan by President Trump. Today, the market will focus on job data. Will we see a continuation of upward movement in the index? 08.30 AM U.S Non-Farm Employment Change, forecast 205k U.S Unemployment Rate forecast 4.0% For full outlook for this week, you can follow Forex Outlook For The Week 5 – 9 Mar 2018 The bounce of U.S dollar index means the fall for EUR/USD. However, the downward movement might change direction again depend on the U.S job data today. If EUR/USD continues its downward movement, then we might see it threading between 1.2200 – 1.2300 next week. Today critical level to watch: Support: 1.2300, 1.2200, 1.2100 Resistance: 1.2500 GBP/USD on the path lower after it closed below 1.3835. However, it is not a significant close which could reverse if U.S job data disappoint. Nevertheless, a short position is the best choice from current level with assumption job data will be strong and President Trump tariff plan creating a reaction. Today critical level to watch: Support:  1.3800, 1.3600 Resistance: 1.3850, 1.4000 USD/JPY break free from its bearish channel and bounce from 106.10 support level. The pair bearish trend may reach an end, and the bull will take the control back. The bull needs a close above 107.40 to turn the medium-term trend into bullish. Today critical level to watch: Support: 106.10, 105.50, 105.00 Resistance: 107.00, 107.40, 109.00 AUD/USD continue moving inside the triangle as the pair rejected from the top of it. There is no change to the analysis, AUD/USD currently supported by the SMA 200. Traders will wait for U.S job data to get a clue for AUD/USD next movement. Today critical level to watch: Support: 0.7800, 0.7750, 0.7690 Resistance: 0.7875 SOURCE : https://tradertalks-net.translate.goog/s/19990?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

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 SOURCE : https://tradertalks-net.translate.goog/s/19989?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

U.S dollar index bearish target is 100.00 but the index mostly moving sideway ahead of the Fed FOMC meeting this week. Traders will expect the index to continue the bearish movement in the long term with some bullish bounce. When the index starts a bullish bounce, traders will wait near resistance levels for a chance to enter short positions. On the upside, the daily SMA 200 might become the bullish target. EUR/USD is stuck near the 1.1000 resistance level and might continue trading near it for now. Traders will use each bearish correction as a chance to enter more long positions at a lower level. On the lower side, 1.0800 and 1.06500 could become the level to watch for bullish reactions. Traders will continue to hold long positions as long as the pair continue printing a new higher high and higher low. Today’s critical levels to watch: Support: 1.0900, 1.0800, 1.0650, 1.0339 Resistance: 1.1000 GBP/USD made a bullish close last week and print a new higher high. The pair is set to continue the bullish movement toward the 1.2625 and 1.2800 resistance levels. If the pair start moving lower again toward the 1.2000 – 1.2200 area and the daily SMA 200 then traders could use the chance to enter more long positions. We think the bullish trend will continue for long term as long as there is no close below the daily SMA 200. Today’s critical levels to watch: Support: 1.2200, 1.2100, 1.2000, 1.1450 Resistance: 1.2625, 1.2800 USD/JPY launched upward and reach the daily SMA 200 today. The pair might continue the bullish movement as the current movement has strong bullish momentum. If the pair could break out above the daily SMA 200 and print a new higher high then there is a chance of trend reversal. However, if the pair made a strong bearish reaction from the daily SMA 200 then traders could enter short positions. Today’s critical levels to watch: Support: 133.00, 130.00, 125.00 Resistance: 137.70 AUD/USD pushed lower but the pair avoided a new lower low on the chart. No conclusion yet on the pair’s next direction. On the upside, the pair needs to close above the daily SMA 200 to reverse the current bearish pressure. However, if the pair continue moving lower and print a new lower low then the bearish trend could continue toward the 0.6500 support level. Today’s critical levels to watch: Support: 0.6500, 0.6000 Resistance: 0.6700, 0.6750, 0.6820, 0.7000 SOURCE : https://tradertalks-net.translate.goog/s/19988?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

The overall movement of U.S. dollar index is sideway for now as traders awaiting the FOMC statement this week. If the index starts moving upward again then the daily SMA 200 will become the target. On the lower side, 100.00 is the bearish target to watch. In the long-term, we think the index will continue the bearish movement and reach 100.00 level or lower this year. EUR/USD consolidated near the 1.100o level and continue to stick near it. The pair might continue trading near the level until the FOMC meeting this week. If the pair start moving lower again then 1.0900, 1.0800, and 1.0650 will become the bearish target to watch. On the other hand, if the pair could continue moving upward and close above 1.1000 at the end of week then the bullish trend could continue. Today’s critical levels to watch: Support: 1.0900, 1.0800, 1.0650, 1.0339 Resistance: 1.1000 GBP/USD made a bearish close yesterday though not a significant bearish close. The pair might start a bearish correction to target the 1.2000 – 1.2200 area or the daily SMA 200. As the overall trend is bullish, traders will use each bearish correction as a chance to enter long positions. On the upside, 1.2625 and 1.2800 will continue to become the bullish target to watch. Today’s critical levels to watch: Support: 1.2200, 1.2100, 1.2000, 1.1450 Resistance: 1.2625, 1.2800 USD/JPY reached the daily SMA 200 and close above it yesterday. The pair has a chance to continue the bullish movement now. However, the pair show bearish rejection from the averages and there is no higher high printed on the chart yet. If the pair extend the bearish movement after the Fed FOMC meeting then the bearish trend will continue. Today’s critical levels to watch: Support: 133.00, 130.00, 125.00 Resistance: 137.70 AUD/USD start moving upward again but experience bearish reactions near the 0.6700 – 0.6750 area. The pair might stick near the area until the FOMC meeting this week. If the pair could continue the upward movement and close above the daily SMA 200 at the end of the week then the bullish trend will continue. However, if the pair get rejected with strong bearish reactions then we might see a continuation toward the 0.6500 level. Today’s critical levels to watch: Support: 0.6500, 0.6000 Resistance: 0.6700, 0.6750, 0.6820, 0.7000 SOURCE : https://tradertalks-net.translate.goog/s/19987?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

A Major bullish bounce happened in the U.S dollar index last week. The index moved upward and closed above the blue box area. Today, there is no bullish follow-through yet in the index. The index seems testing the blue box area and to look to bounce from it. Traders will wait for a bullish reaction from the blue box area to enter long positions in the U.S dollar. Last week, EUR/USD mostly bullish for most days of the week. However, the pair lost its bullish momentum and turned lower with strong bearish momentum. The pair settled below 1.2070, back inside the 1.2000 – 1.2070 area again. This week, traders will wait for the reaction inside the area to determine the pair’s next direction. We still think the pair could continue its bullish trend and target 1.2200 or higher. However, if the pair extend its bearish close below 1.2000 then traders will prepare for a deeper correction toward the daily SMA 200. Today critical levels to watch: Support: 1.2000, 1.1820, 1.1710 Resistance: 1.2070, 1.2200 GBP/USD pushed lower and closed below 1.3835 in the previous week. The pair might continue its bearish movement below 1.3835 and target 1.3600. Fortunately, there is no bearish continuation and the pair currently attempts to bounce from the 1.3835 level. A close inside the 1.3835 – 1.4000 this week, will extend the consolidation inside it. Today Critical level to watch: Support: 1.3835, 1.3600 Resistance: 1.4000, 1.4325 USD/JPY extended its bullish movement above the 109.00 resistance level smoothly. The pair keep building more bullish pressure and soon will reach 110.00 resistance level. At the current time, traders who have long positions will continue to keep holding the positions until there is a major bearish reaction. Today critical levels to watch: Support: 109.00, 108.00, 106.70 Resistance: 110.00, 111.00 AUD/USD was rejected from the 0.7800 resistance level and closed lower last week. No lower low printed on the chart which means there is a chance for the pair to reverse the bearish pressure and start moving upward again. If the pair could break out above 0.7800 then traders could expect the pair to target the 0.8000 resistance level next. Today critical levels to watch:, Support: 0.7750, 0.7700, 0.7640, 0.7550, 0.7500 Resistance: 0.7800, 0.8000 SOURCE : https://tradertalks-net.translate.goog/s/19986?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

U.S dollar index is in a bearish trend with 100.00 as a bearish target. The index might trade upward before continuing lower and it is a chance for traders to enter more short positions in the U.S. dollar. Today the Fed FOMC meeting should provide some clue on the next direction of the U.S. dollar index. If the index trading upward then traders will the chance to enter short positions at resistance levels. EUR/USD is moving near the 1.1000 level and currently waiting for further development. We think the bullish trend will continue and traders could use each bearish movement as a chance to enter more long positions. On the lower side, 1.0900, 1.0800, and 1.0650 are the levels to watch for a chance to enter long positions. Today’s critical levels to watch: Support: 1.0900, 1.0800, 1.0650, 1.0339 Resistance: 1.1000 GBP/USD traded lower for two days but the pair traded upward again today. On the upside, 1.2625 and 1.2800 are the bullish targets to watch. If the pair continue trading lower then traders could use the 1.2000 – 1.2200 area and the daily SMA 200 as the location to enter more long positions. Today’s critical levels to watch: Support: 1.2200, 1.2100, 1.2000, 1.1450 Resistance: 1.2625, 1.2800 USD/JPY managed to reach the daily SMA 200 which complete the upward target. No higher high is printed on the chart and we have a bearish reaction. The pair currently fall below yesterday’s low and might continue the bearish leg to target a new lower low. However, if the pair start moving upward again and print a new higher high then the trend will turn bullish. Today’s critical levels to watch: Support: 133.00, 130.00, 125.00 Resistance: 137.70 AUD/USD trading upward but limited below the 0.6700 – 0.6750 resistance area. No conclusion yet on the pair’s next direction. If the pair could continue to build more bullish pressure and close above the daily SMA 200 then the bullish trend could continue. On the other hand, if the pair turn lower and print a new lower low then the bearish trend will continue. Today’s critical levels to watch: Support: 0.6500, 0.6000 Resistance: 0.6700, 0.6750, 0.6820, 0.7000 SOURCE : https://tradertalks-net.translate.goog/s/19985?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

U.S dollar index weakness brought the index down to close below 99.40. The index shows a bullish reaction near the April low but might continue its downward movement toward 98.40 and SMA 200 support levels. At the current time, traders will continue to observe the index reaction. If the index manages to reach daily SMA 200 then traders could prepare for a possible bullish bounce. For full outlook for this week, you can follow Forex Outlook For The Week 04 – 08 May 2020 EUR/USD extended its bullish close and tested 1.1000 resistance at the end of the week. No major bearish reaction yet near the resistance level which means EUR/USD might continue its bullish movement this week. On the upside, there is 1.1000 and daily SMA 200 to watch. If the pair could climb above both resistances then EUR/USD might start a new bullish trend. today critical levels to watch: Support: 1.0900, 1.0800, 1.0650 Resistance: 1.1000 GBP/USD rejected from the resistance 1.2625 with moderate bearish pressure. Fortunately, the bearish movement did not close below Thursday low. There is a chance for the pair to continue its upward movement and reach the next target at daily SMA 200. Today Critical level to watch: Support: 1.2500, 1.2200, 1.2000 Resistance: 1.2625 USD/JPY reached 106.70 support level and show a bullish reaction. But the bullish reaction did not last long and the pair closed lower at the end of the week. This week, the 106.70 support level will become the main level to watch. As long as there is no major bearish close below 106.70, USD/JPY has the chance to bounce higher toward 108.00 and SMA 200. Today critical levels to watch: Support: 106.70, 105.00 Resistance: 108.00, 109.00 AUD/USD could not maintain the positions near 0.6500 resistance level. The pair move lower with moderate bearish momentum and currently trade near the bullish trendline. This week, traders will observe the pair reaction near the trendline. Without bounce from the trendline, AUD/USD expected to start a new bearish trend. Today critical levels to watch: Support: 0.6300 Resistance: 0.6500, 0.6700 SOURCE : https://tradertalks-net.translate.goog/s/19984?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

A bullish bounce is in progress, U.S dollar index bounced from the blue box area and set to target 92.00 also daily SMA 200. There is a speech by Janet Yellen which favors the appreciation of the U.S dollar index. The treasury secretary mention that the interest rate eventually will increase somehow to prevent the economy from overheating. Traders will monitor the index reaction near the resistance level to gauge a medium-long-term outlook. EUR/USD made a bullish close near the 1.2070 resistance level. The pair however restarted its bearish movement and fall below the previous day’s low. The same as we mentioned yesterday if the pair continues moving bearishly below 1.2000 and close below it. Then traders will expect deeper correction toward the daily SMA 200. Today critical levels to watch: Support: 1.2000, 1.1820, 1.1710 Resistance: 1.2070, 1.2200 GBP/USD maintained the positions inside 1.3835 – 1.4000 after the previous day’s bullish close. The pair expected to keep trading between 1.3835 – 1.4000 with a bullish bias. Traders will continue to monitor the pair movement inside the range for now. Today Critical level to watch: Support: 1.3835, 1.3600 Resistance: 1.4000, 1.4325 USD/JPY made a bearish close yesterday but no bearish follow-through today. The pair continue trading inside the previous day’s range and might start moving upward again. If the pair continues the bullish movement then traders will expect the pair to target 110.00. Today critical levels to watch: Support: 109.00, 108.00, 106.70 Resistance: 110.00, 111.00 AUD/USD losing more ground today and printed lower low. The pair currently testing the 0.7690 support level despite the bullish close above 0.7750 yesterday. We might see a bearish continuation toward 0.7640 and daily SMA 200 as the U.S dollar index gaining ground. Today critical levels to watch:, Support: 0.7700, 0.7640, 0.7550, 0.7500 Resistance: 0.7750, 0.7800, 0.8000 SOURCE : https://tradertalks-net.translate.goog/s/19983?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

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 SOURCE : https://tradertalks-net.translate.goog/s/19982?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp