The major EURUSD and the cable GBPUSD have been trading in a symmetrical triangle.

  • The cable has been rebound to the 80.0% of the fib reaction seems to be at 1.4220 levels above this 1.4245 exists. The daily studies RSI is climbing higher back and the oscillator turned bullish.

For an intraday trading purpose, resistance seems to be between 1.4220-1.4245.

  • EURUSD has been in a well-defined range consolidation in a symmetrical triangle with a solid support available at 1.2150 levels. It has been well supported into dips much closer to the bottom of the range. The risk aversion will limit the downside risk with potential resistance seems to be at 1.2400-1.2410 above this, target at 1.2450/1.2470.

For an intraday trading purpose, supports are found at 1.2290 and 1.2260.

  • The cross EURJPY is facing resistance at 14MA (weekly) in the Asian session. The risk-off mood will lift further to 133.00. Before retracing to 132.65 the cross gave a bullish break through the symmetrical triangle pattern. We believe the level 133.00 will be a potential resistance for intraday.The 100MA and 20MA (week) coincide at 133.00.

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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