GBP Moves To The Downside, JPY Finds Solid Support At 112.20
ICN.com | Mar 10, 2016 04:35AM ET
GBP/USD moved to the downside below SMA20 at 1.4195 along with negative signs on ADX and RSI14.
Hence, the probability of achieving downside actions increased, but a break below 1.4150 is required to prove this outlook.
SMA50 and 38.2% Fibonacci intersects at the same level and thus, we remain bearish as far as 1.4250 holds.
Support: 1.4150 – 1.4135 – 1.4080
Resistance: 1.4250 – 1.4300 – 1.4350
Direction: Bearish
h2 EUR/USD, Mar. 10/h2Euro declines after failing to hit 1.1035, which caused negativity on ADX and RSI.
Trading below SMA20 at 1.0995 is also a negative signal, and we need to see a break below 1.0955 and SMA50 at 1.0935 to prove the bearishness.
Anyway, we remain bearish today as far as 1.1035 holds.
Support: :1.0955 – 1.0935 – 1.0895
Resistance: 1.1000 –1.1035 – 1.1100
Direction: Bearish as far as 1.1035 holds.
h2 USD/CHF, Mar. 10/h2USD/CHF pair has failed to close above 1.0000 psychological once again, despite showing quick upside actions yesterday ahead of the U.S. session.
The pair has traded back below SMA100, while RSI continued to move sideways although it moves above the value of 50.00.
The technical hesitation persists and thus, we will avoid trading the pair at the current sensitive trading levels, as risk versus reward is inappropriate for intraday traders.
Support: 0.9930-0.9900-0.9870
Resistance: 1.0000-1.0035-1.0085
Direction: Neutral
h2 USD/JPY, Mar. 10/h2USD/JPY has found very solid support at 112.20, which pushed it to the upside strongly yesterday to test 113.80 in the Asian session.
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The negative pressures have decreased as seen on ADX, while RSI needs a break above 114.00 to be fixed.
Closing above SMA20-green- is another positive catalyst and thus, we will be bullish today; noting that, a break above 114.00 will weaken 114.60 resistances.
Support: 113.30-113.00-112.50
Resistance: 114.00-114.60-115.00
Direction: Bullish
/h2
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