Here’s a comprehensive technical analysis and forecast for major pairs, equities, and commodities forex day trading.
EUR/USD: Bullish Momentum Indicates Potential for Further Upside Movement
The EUR/USD pair displays a bullish overall momentum, indicating a potential continuation of the upward movement towards the 1st resistance level. Key support levels at 1.1088 and 1.1000 act as pullback supports, adding significance to the potential upward trend. On the upside, the 1st resistance level at 1.1282 represents a significant swing high resistance, with the 2nd resistance level at 1.1369 further reinforcing the bullish case.
GBP/USD: Upward Movement Expected Despite Potential Resistance Levels
During the forex day trading, GBP/USD showed a bullish momentum, suggesting a potential continuation of the upward movement. Support levels at 1.2847 and 1.2686 act as overlap supports, providing potential stability in case of a pullback. On the upside, the 1st resistance level at 1.2999 and the 2nd resistance level at 1.3143 could potentially impede further upward movement.
EUR/JPY: Bearish Momentum Points to Possible Downward Movement
EUR/JPY displays a bearish momentum, indicating a potential continuation of the downward movement. Key support levels at 155.19 and 154.18 serve as potential targets. On the upside, the 1st resistance level at 157.20 and the 2nd resistance level at 157.95 may act as multi-swing high resistances, limiting the price’s upward movement.
EUR/GBP: Bullish Momentum Suggests Potential for a Bounce Back
EUR/GBP demonstrates a bullish momentum, indicating the potential for a bullish bounce off the 1st support level. Key support levels at 0.8649 and 0.8614 act as pullback supports. On the upside, the 1st resistance level at 0.8686 and the 2nd resistance level at 0.8730 could potentially impede the price’s upward movement.
USD/CHF: Bullish Trend Points to Further Upside Movement
During the forex day trading, USD/CHF shows a bullish overall momentum, suggesting a potential continuation of the upward movement towards the 1st resistance level. Support levels at 0.8621 and 0.8566 provide potential pullback support. On the upside, the 1st resistance level at 0.8759 and the 2nd resistance level at 0.8820 may hinder further upward movement.
USD/JPY: Bullish Momentum Indicates Potential Upside Movement
USD/JPY exhibits a bullish overall momentum, suggesting a potential continuation of the upward movement towards the 1st resistance level. Support levels at 138.7800 and 13754.0000 serve as potential targets. On the upside, the 1st resistance level at 140.9200 and the 2nd resistance level at 142.1300 may pose challenges to the price’s upward movement.
USD/CAD: Bearish Trend Points to Potential Downward Movement
USD/CAD currently shows a bearish overall momentum, indicating a potential continuation of the downward movement towards the 1st support level. Support levels at 1.3121 and 1.3091 act as swing low supports, while on the upside, the 1st resistance level at 1.3193 and the 2nd resistance level at 1.3225 may impede further upward movement.
AUD/USD: Bullish Momentum Indicates Potential for Further Upside Movement
AUD/USD demonstrates a bullish overall momentum, indicating a potential continuation of the upward movement towards the 1st resistance level. Support levels at 0.6756 and 0.6699 serve as potential pullback supports. On the upside, the 1st resistance level at 0.6838 and the 2nd resistance level at 0.6892 could potentially limit the price’s upward movement.
NZD/USD: Bearish Trend Points to Potential Downward Movement
The NZD/USD pair is currently showing a bearish trend, indicating a possible continuation of the downward movement towards the 1st support level at 0.6189. Support levels at 0.6114 and 0.6087 act as potential barriers against further price falls. On the upside, the 1st resistance level at 0.6246 and the 2nd resistance level at 0.6305 may hinder the price’s upward movement.
