EUR/USD
Current level – 1.1376
On the first trading day of the week, the appreciation of the U.S. dollar continued and, after the successful violation of the support zone at 1.1435, the bears have managed to maintain their control over the market, thus leading the pair towards a test of the support at 1.1365. The most probable scenario for today’s trading session is for the currency pair to make a corrective move towards the resistance at 1.1435, and for trading to remain in the range between 1.1365 and 1.1435. However, if the bears continue to pressure the market and manage to overcome the support level at 1.1365, this would strengthen the negative expectations for a move towards the next support at 1.1300. Today, an increase in market activity can be expected around the announcement of the retail sales data (13:30 GMT) and the industrial production data for the United States (14:15 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1435 | 1.1600 | 1.1370 | 1.1260 |
| 1.1517 | 1.1680 | 1.1300 | 1.1200 |
USD/JPY
Current level – 114.14
At the time of writing this analysis, the currency pair is trading just below the resistance at 114.23 and the bulls are likely to try and attack this level. A successful breach of this resistance would allow the bulls to gain momentum and lead the pair towards the next resistance at 114.42. The Ninja is still bound to the narrow range between 113.74 and 114.42 and only a confirmed breach of the resistance at 114.42 would suggest that the range phase has ended, which would pave the way for the currency pair towards the resistance at 115.50. In the opposite direction, the first important support is found at the level of 113.74.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 114.20 | 115.50 | 113.75 | 112.77 |
| 114.40 | 117.00 | 113.40 | 111.50 |
GBP/USD
Current level – 1.3420
The currency pair is currently trading in the range between 1.3359 and 1.3439 after the bears lost momentum and couldn’t overcome the support at 1.3359. The forecasts for today’s trading session are for the pair to retest the support at 1.3359 and a successful breach of the mentioned level would pave the way for the pair towards the support at 1.3290. On the other hand, a breach of the resistance at 1.3439 may lead the pair towards the next resistance at 1.3503.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3440 | 1.3550 | 1.3360 | 1.3200 |
| 1.3500 | 1.3600 | 1.3290 | 1.3200 |
