EUR/USD
Current level – 1.1168
During Friday’s trading session the pair reached 1.1125 and bounced shortly afterwards. At the moment of writing, the EUR/USD is just under the resistance zone 1.1170 with chances of it being broken soon. The uptrend continues with the drop from 1.1240 to 1.1125 being more of a retracement. The rally towards 1.1170 at the end of the previous session confirms that the move to the downside is completed. If 1.1170 is violated, next targets would be the zones around 1.1200 and 1.1240. Minor daily support is 1.1140 and the major one is at 1.1110. If the aforementioned do not hold, we may see a more significant drop towards 1.1070 and it’s possible to see a slowdown price action and range-bound trading. During today’s session we can expect higher volatility during the news events around the services PMI for the eurozone (09:00 GMT) and eurozone PPI (10:00 GMT). The main focus of traders this week would be the non-farm payrolls for the US coming in on Friday (13:30 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1170 | 1.1240 | 1.1130 | 1.1110 |
| 1.1200 | 1.1300 | 1.1110 | 1.1070 |
USD/JPY
Current level – 108.00
Last week the Greenback lost ground to the yen mainly because of the escalated tension between the US and Iran after the airstrike that killed Iranian general Qasem Soleimani. The Japanese yen, as a safe haven asset, attracted worried investors and the price reached the key level 108.00. This support is from a higher time frame and, should it be breached, it can push the price further down to 106.50, 105.50. If the selling pressure is high enough, the USD/JPY can even test the lows around 104.60. In the last sessions buyers didn’t show much presence so breaching 108.00 is highly likely. A potential retracement should be limited below 108.50. At this time only a breach above 109.50 has the potential to turn the market around
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.47 | 109.20 | 108.00 | 106.50 |
| 108.80 | 109.70 | 107.40 | 105.50 |
GBP/USD
Current level – 1.3085
The tendency for the sterling is more neutral than positive because of the failed attempt at 1.3260. The current zone is critical, as it comes from the higher time frames and has been tested many times. It’s possible to see the formation of a range, if buyers experience hardships in breaching 1.3260. With Brexit deadline looming on the horizon for the end of this month, the pair could find the needed push. The main short-term support is at 1.3000 and if breached, the sentiment will become more bearish and the price might find support around 1.2911 and 1.2790.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3125 | 1.3260 | 1.3050 | 1.2915 |
| 1.3260 | 1.3320 | 1.3000 | 1.2790 |
