Euro Moves Within Tight Range, GBP Attempts Incline
ICN.com | May 16, 2016 06:15AM ET
USD/JPY
USD/JPY has been stopped by SMA50 below 109.60, while RSI 14 also has been stopped by the momentum resistance of 50.00.
However, the support of 107.90 could provide support to bears from the underside.
Trading between those two levels is a sign of neutrality until we witness a break of one of them.
Support: 108.30-107.90-107.30
Resistance:109.20-109.65-110.00
Direction: Neutral
EUR/USD
Euro moved within a tight range in Asian session, hovering around SMA50 and below 38.2% Fibonacci at 1.1315.
Trading blow 1.1315 is negative and would extend the bearishness as far as 1.1430 holds, and preferably as far as 1.1385 holds.
Support: : 1.1285 – 1.1220 – 1.1175
Resistance: 1.1315 –1.1385 – 1.1430
Direction: Bearish
GBP/USD
GBP/USD has attempted to incline during the Asian session along with positivity on RSI, while ADX remains weak along with trading below 50% Fibonacci at 1.4385-1.4390, which is a negative signal.
Bears are targeting 1.4295 as a first target, while a break below it will cause acceleration as far as 1.4385 holds.
Support: 1.4345 – 1.4295 – 1.4220
Resistance: 1.4385 – 1.4425 – 1.4480
Direction: Bearish
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