FX Trading – Currency Crosses Pairs Analysis
Posted by adminCurrency Crosses Pairs Analysis
EUR/GBP
Current level – 0.9054
Longer term bias remains neutral to bullish for the pair, closing above both bearish trendlines confirms some upside for the week ahead.
Intraday: Yesterdays brake below the trendline isnt confirming a retrace yet. Although the cross is making an effective pullback its loosing bullish momentum and we dont discard a further retrace to 0,8980-0,9000 support zone
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 0,9130 | 0,9150 | 0,9050 | 0,8850 |
| 0,9150 | 0,9200 | 0,9000 | 0,8800 |
USD/CAD
Current level – 1.0129
Long term bias for the USD/CAD remains neutral, trapped in a wide range between 1,0250 and 1,0750. Critical level at 1,0200 support zone, if we break to the downside parity is more than probable.
Intraday: no signs of recovery yet, a push to parity is highly probable. Daily RSI entering oversold level below 30. For today expect a test of 1,0100 level.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0150 | 1.0320 | 1.0100 | 1,0250 |
| 1.0200 | 1.0400 | 1.0000 | 1,0200 |
GBP/JPY
Current level – 137.76
Long term bias remains bearish but since we reached 132,00 the pair is making higher highs indicating a possible short term bottom.
Intraday: big bounce off bullish trendline support keeps the bullish bias intact but looking at the 4 hour chart above, the challenge here is 138,20 bearish trendline resistance.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 138.20 | 140.00 | 137.50 | 132.00 |
| 139.00 | 141.00 | 137.00 | 131.00 |
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