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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
06/04/2018

EUR/USD pullback within reach of key support level

The EUR/USD pullback has dropped beyond the 76.4% retracement, bringing about a heightened risk of a bearish breakdown.

We would need an hourly close below $1.2239 to signal a more bearish picture for the pair and, until then, there is still a good (but lessened) chance the pair will turn higher from here. An hourly close above $1.2345 would provide a more reliable signal that we are set to shift into a more bullish phase.

EUR/USD price chart

0c7c8aa00de2a1293bc64aa426d72528 - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

GBP/USD rise could be short-lived

GBP/USD is gradually trying to regain ground after the selling seen earlier in the week. The break below $1.4070 paves the way for further downside, and the fact that we have seen such minimal upside means we are likely to see another leg lower soon enough.

A bearish signal would come with an hourly close below $1.4005. Conversely, we would need an hourly close above $1.4244 to bring a more bullish outlook.

GBP/USD price chart

4aa680e64dec63364ecb732129e84001 - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

USD/JPY turning lower from resistance zone

USD/JPY is selling off sharply this morning, following a rally into a zone of descending trendlines.

With the pair having provided a handful of lower highs over the past two months, there is a good chance we will see another leg lower from here. With that in mind, a bearish outlook is in play unless we see the price break above ¥107.01.

USD/JPY price chart

c11834f56af978fee63a822d2d445589 - FX levels to watch – EUR/USD, GBP/USD and USD/JPY

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news
06/04/2018
админ
Related ItemsEURforexFXGBPpriceriserisksellingtrigger

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