Todays Main Events on the Economic Calendar:
EUROPE: GDP, Employment and ECB Interest rates
USA: Balance, Initial Jobless Claims, Labour Costs
Yesterday the Dollar Index made a strong reversal day. It still is at resistance levels, though. If the price moves above yesterday’s high (97.37) it will confirm it, and the dollar will continue gaining strength.
Support level is 97.
Resistance levels: 97.37, 97.6 and 98
Yesterday the EURUSD pair moved upwards, as expected, reaching our target at 1.13000 level, at which it was strongly rejected creating and bearish engulfing candle that brought the pair down to 1.12198. Today it is recovering slightly.
The 4H chart shows the price is currently moving between two key levels: 1.1245 (resistance) and 1.1214 (support), levels which will decide, if broken, today’s direction.
Yesterday the GBPUSD created a shooting star. This red candle is a reversal for the pair, which seems to continue its bearish movement. Today is moving slightly below yesterday’s low.
The USDJPY shows a bearish candle that engulfs the body of the previous one. This action is in the direction of the main trend. A support level at 107.860 will tell if this price action continues or stops.
Resistance levels: 108.466, 109 and 109.445
AUDUSD price has been rejected yesterday off its 0.7000 Key level and created a bearish engulfing candle. Today, if yesterday’s low is broken, the price may continue its bearish bias.
Supports: 0.6963, 0,6942, 0.6900