Forex Majors technical analysis EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, USDJPY
EURUSD
The pair has broken above the key 1.10000 level. This break is expected to lead to an upside continuation into 1.13000-1.14000 zone. Only long trade entries are recommended. SL should be below the support 1.11000 level.
GBPUSD
The pair is in the process of breaking above the strong upside resistance 1.2900 level for the test of 1.3000 level. If long entries are initiated place the SL below 1.2800 level as the pair is bouncing again from the 1.2840 level support. Look for the extension higher into 1.3370. No change in view.
USDCAD
The pair is extending the downside and is expected to test 1.3500 level of support near-term. Beyond that level look for extension lower into 1.3340. The key break in focus for the downside extension is 1.3500 level.
AUDUSD
The pair is in the process of breaking the falling wedge for the upside continuation into 0.7550 level. Long trades initiated here should have SL below 0.7380 level. The 0.7400-0.7420 is now the support zone.
NZDUSD is bouncing from the strong support 0.6850 level but for the reversal to the upside and continuation, we need to see the daily close above 0.6950 level. Staying aside for now. SL on long entries if initiated here should be below 0.6830 level.
EURGBP
The pair is testing the 0.8600 level of resistance for the upside continuation or a downside extension. Invalidation of the downside extension only on the daily close above 0.8620.
USDJPY
The pair could test the 200 SMA 109.769. Look for the pullback into 112 for the short entries with the SL above 113.
USD correction is on a way. We need to see the reaction from this levels for the continuation higher or we will see downside continuation.