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FX levels to watch – EUR/USD, GBP/USD and USD/JPY

FX levels to watch – EUR/USD, GBP/USD and USD/JPY
админ
28/02/2018

75fc343d2e5b1a12b5a2eccaa29c254c - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

Source: Bloomberg

EUR/USD at crucial double top neckline

Representing the neckline of a double top formation, EUR/USD is trading at the crucial $1.2205 swing low.

This will be a crucial level for today’s trade, with an hourly or four-hour close below this level providing a bearish outlook going forward. As such, watch for a break below or reversal higher from here.

EUR/USD chart

8c9139a192aa046edee7373e56001a74 - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

GBP/USD heads back into 76.4% support once more

GBP/USD is turning lower into the 76.4% retracement again this morning, following two failed attempts to break below that level over recent days.

This could be the source of another push higher. However, with a lower high formed last Friday, there is a chance that we could bring a more bearish medium-term picture, with a break below $1.3764. As such, watch for a reaction at this 76.4% retracement ($1.3855), where a break lower could point towards the beginning of another period of weakness for the pair.

GBP/USD chart

ae47616fc70a514f570f6060ab5c5e70 - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

USD/JPY rallies, yet can it break above key resistance

USD/JPY is attempting to regain ground, as it seeks to reverse much of the losses seen earlier this month.

The downtrend is clearly established over recent months, and this means that the preference is to sell into this pair, unless the price action tells us otherwise. On this occasion, a break above ¥107.90 would negate the bearish outlook, setting a higher high and higher low. With the price having rallied into the 76.4%, there is a chance we could see a move lower from here. A break back through ¥107.90 would be the signal to negate that bearish view.

USD/JPY chart

db0f99664c46abce19df5de4dd082f6b - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

Source

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news
28/02/2018
админ
Related ItemsEURforexFXGBPlossespricetradetradingtrigger

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