For December 28, 2023: Major pairs exhibit mixed movements with potential for both bullish and bearish scenarios.
EUR/USD:
- Euro broke above a long-term price channel (May 2021-present) and entered a new, rising channel.
- Potential for further growth towards 1.1385, with 1.1185 acting as a potential intermediate support.
- Marlin oscillator confirms bullish momentum.
GBP/USD:
- Pound surged past resistance at 1.2745 and targets 1.2837, potentially reaching 1.2930 and beyond.
- Positive Marlin oscillator reinforces the optimistic outlook.
- Wait for confirmation at 1.2930 before entering long positions.
USD/CAD:
- Bearish momentum approaching key support levels (1.3152, 1.3121).
- Resistance exists at 1.3260 and 1.3320, potentially halting upward movements.
- Monitor price behavior near support levels for potential buying opportunities.
USD/JPY:
- Tested target support at 141.23 after reversing from 142.70.
- Breaking below opens doors to 140.35 and 138.46.
- Marlin oscillator and technical indicators suggest further downside potential.
Categories: ARFX News