EUR/USD
Current level – 1.1842
The pair closed last week unchanged and was able to form weekly support in the zone between 1.1760 and 1.1780. Bears had their chance with better prices above the consolidation around 1.1860, however the sell-off attempts were limited by the support around 1.1830. Expectations for a rally of the euro remain on the table, as long as the market is above 1.1700. Currently minor support can be found around 1.1830. First resistance for the bulls is 1.1860, followed by 1.1900 and 1.1940. This week’s most anticipated event would be the Federal Reserve interest rate decision (Wednesday 18:00 GMT), followed by a press conference (18:30 GMT). Market activity is expected to rise around that time and the news might even provide the market with the necessary energy to overcome the psychological area around 1.2000.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1860 | 1.1940 | 1.1830 | 1.1740 |
| 1.1900 | 1.2000 | 1.1780 | 1.1700 |
USD/JPY
Current level – 106.10
The market is in a consolidation phase locked between 105.80 and 106.44. Bears might continue with their attempts for a breach of 105.80, with first target being the support around 105.30. First major resistance for the bulls is at 106.30. The news, mentioned in the EUR/USD review, might energize the market to break the current range, however to change the overall bearish sentiment, prices would need to hold above 106.44.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 106.30 | 106.94 | 106.00 | 105.30 |
| 106.45 | 107.20 | 105.80 | 104.70 |
GBP/USD
Current level – 1.2805
The sterling was hammered last week due to fears of a no-deal Brexit after the UK government acknowledged it could break international law by ignoring some parts of its leave treaty. With the deadline looming, volatility could remain high. Currently, sell-offs were limited above the support at 1.2770, however bullish action is barely noticeable. First resistance for the buyers is 1.2920, followed by 1.3020-1.3050. If bears keep applying pressure, prices could head towards the next support zones at 1.2640 and 1.2520. We have a busy calendar for the Cable this week, with first events being series of unemployment data in the UK (Tuesday 06:00 GMT), on Wednesday a wave of inflationary data is expected (06:00 GMT) and on Thursday probably the most expected news would be the BoE interest rate decision (11:00 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2920 | 1.3150 | 1.2770 | 1.2640 |
| 1.3050 | 1.3290 | 1.2640 | 1.2530 |
