Forex Majors technical analysis EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, USDJPY
EURUSD
We need to see a break below 1.0350 for downside continuation. For now, shorts have a small risk here with SL above 1.0780 targeting 1.0500 and 1.0400. Invalidation of this long-term downtrend continuation only on a break above 1.0830. The pair is again rejected by the 100 SMA 1.07840 level. A daily break below 1.0706 to accelerate the downside.
GBPUSD
The pair is still in the long-term downtrend as long as it is below Pitchfork downside channel median line 1.2630 level. New fresh shorts only on the daily break below 1.2450 targeting 1.2230 with SL above 1.2630. The pair is testing 100 SMA 1.2489. The break below would accelerate the downside.
USDCAD
The pair is testing strong support of medium-term upside Pitchfork channel 1.2980. The daily close below this level could lead to a retest of 1.2780 and we need to see a daily close above 200 SMA 1.3134 for upside reversal and continuation.
AUDUSD
The pair briefly broke above 0.7680 level of the long-term downside Pitchfork channel. A daily close below 0.7600 is required for reversal. Invalidation of the long-term downtrend only on a daily close above 0.7720.
NZDUSD is testing strong long-term downside support 0.7300 level with negative RSI (13) divergence. We need to see a close below 0.7240 level for downside continuation. Look for shorts here for now with SL above 0.7300. 0.7240 is the key level near-term for downside continuation. Only a daily close above 0.7320 would invalidate recent medium-term downtrend. Another hold from 75% Fibbo retracement is in progress.
EURGBP
The pair bounced from 0.8500 strong support level and now needs to hold 200 SMA and the 0.8550-0.8570 zone for upside continuation. Invalidation of this medium-term uptrend only on a daily close below 0.8480. SL on initiated long here below 0.8560.
USDJPY
The pair has formed a range between 112-115.300. Only on the clear break of this levels, we will get a directional move. For now look only for long trades with SL below 112.
