Forex Majors technical analysis EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, USDJPY
EURUSD
The pair is rejected from 1.0600-1.0650 zone and has formed a rectangle between 1.0340-1.0650. We need to see a break below 1.0350 for downside continuation. We could have a period of consolidation until a definite break in direction of a trend.
GBPUSD
The pair is rejected from 100 SMA (red line) and has broken the wedge below 1.2600. As long as the pair is below 1.2457 we could see downside extension and a retest of 1.2000. Look for short entries in the case of the rallies higher, SL should be above 1.2300. The pair is an a process of breaking important 1.2200 level for extension lower.
USDCAD
Is testing again strong support zone 1.3080-1.3170. Reaction from this zone is important for upside continuation. SL on longs should be below 1.3080.
AUDUSD
The pair is testing falling trend line. Look for short entries in this area for continuation lower and retest of 0.7150 level. SL on shorts should be above 0.7400.
NZDUSD is rejected from a strong downside support of 0.7050. Look for short entries on any rallies higher. SL on longs should be above 0.7050.
EURGBP
Is on a way to test strong upside resistance 0.8700 level. With GBP weakness this level would be crucial for upside extension.
USDJPY
The pair bounced from 115 level but it still has to break 117.640 level of strong upside resistance. Break and close above this level is needed for upside continuation to 120.
