Forex Majors technical analysis EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, USDJPY
EURUSD
The pair has retested the 200 SMA 1.08351 which is the support for the upside continuation into 1.10000. Look only for long trade entries for now with SL below 1.08300. Only the daily close below 1.0834 level would lead to a pullback into 1.07300-1.07500 zone.
GBPUSD
The pair is testing the strong upside resistance 1.2900 level. The daily close above this level is required for the upside continuation. Staying aside for now.
USDCAD
The pair is reaching the wedge upper line 1.3700 level. If we have a rejection here, the consolidation between 1.3300-1.3700 will continue. Staying aside for now but we are adding more weight to the probability of reversal lower from here. No change in view.
AUDUSD
The pair is in the falling wedge (usually bullish) above the strong horizontal 0.7430-0.7450 zone. The bounce from this zone would lead to a retest of the upper wedge line 0.7560 level. Look only for long trade entries for now with SL below 0.7430.
NZDUSD is pulling back into the confluence of the upside support 0.6800-0.6850 zone. The bounce from this zone will lead to a 0.6950 level retest. Look only for long trade entries fro now with the SL below 0.6830.
EURGBP
The pair has broken below the strong downside resistance 0.8450-0.8480 zone and this is opening the downside continuation into 0.8000-0.8100 zone. Short entries on a possible pullback into 0.8450 or on the daily close below 0.8310 level. We have a pullback into 0.8480 level. Look now for short entries with SL above 0.8550. No change in view.
USDJPY
The pair has bounced again above the 200 SMA and is testing the previously broken 111.800 level of the downside resistance. Staying aside for now. The rejection from here will open the downside continuation.
USD correction is on a way. We need to see the reaction from this levels for the continuation higher.