Yesterday's test above 120.15 support provoked only a corrective rebound to 120.98 and today's bias is again bearish, for a slide towards 119.32 dynamic projection. On the senior frames the outlook is still bullish above 119.00 support zone, for reversal and another leg upwards, to 122.00.
Yesterday's break through 119.32 dynamic support unleashed a massive sell-off all the way down to 117.93, signaling that the whole uptrend from 105.20 has been reversed. The intraday outlook however is positive, for an advance towards 120.20 resistance.
The recent break through 1.2456 high shows, that the uptrend from 1.2246 is intact, heading towards 1.2600 resistance zone. Initial intraday support lies at 1.2402 and crucial on the downside is 1.2360.
The several unsuccessful attempts on the 1.25 resistance turned the outlook for EUR/USD back to negative. Next target for the pair is 1.2360, followed by the key 1.2250 support.
The range-bound trading in GBP/USD between the 1.5750 resistance and the 1.5590 support remains intact. In the mid-term we expect the downtrend of the pair to resume in direction of the key 1.5430 support.
After break through the support at 117.50 the pair is now quoted a bit above 116.60. Being unable to stay around the zone 117.00 will confirm a move to the 115.30 support area. A major intraday resistance is located at 119.00.
Janet Yellen's statement interrupted the EUR/USD northbound correction and printed the greatest daily loss of the currency pair since September 4th to consolidate in the 1.2345 zone. Next target ahead of the EUR/USD will be the 1.2246 area. Both short and long term chart frames signal a negative mood and confirmation will follow once the 1.2322 level goes down.
After the correction to 115.54 the pair gained pace to close above 118.80. Full confirmation of the northbound trend will follow once the 119.55 obstacle falls. Levels to watch in the long run is 122.00.
The pair broke the 1.2246 support and is currently trading below this level. Both short and long term chart frames signal a negative mood and probable test of the major 1.2133 support level.
The range-bound trading in GBP/USD between the 1.5785 resistance and the 1.5540 support remains intact. Our mid-term expectation of the downtrend of the pair remains in direction of the key 1.5430 support.
The recent break through the dynamic support at 1.2220 unleashed a severe sell-off all the way down to 2010 low at 1.1860. The rebound above 1.1863 is corrective, currently limited below 1.1997 minor resistance and although there is a risk of a short-lived slide to 1.1900, the outlook is rather positive, for a rise towards 1.2070.
The downtrend after the recent failure below 120.83 static resistance is still intact, heading towards 117.50 area. Initial minor intraday resistance lies at 119.22 and crucial on the upside is 119.78.
The downtrend here registered a local low at 1.5050 and the overall outlook remains negative, for a break through 1.5040 support, en route to 1.4820 weekly lows. Minor intraday resistance lies at 1.5155, followed by 1.5200 area and crucial on the upside is still 1.5270.
The intraday outlook is negative, for a slide towards 118.75 zone before renewal of the upswing towards 120.83. Key intraday resistance lies at 119.96.
The corrective rebound above 1.5033 low is currently testing 1.5200 static resistance, as crucial level for the recent rise is 1.5075 and a break through that zone will signal a renewal of the downtrend towards 1.4960.
The corrective slide from 120.73 is still intact, heading for a tight test of 117.50 support area. Key resistance on the upside lies at the dynamic projection around 119.30.
