This report provides a comprehensive overview of the current market situation for EUR/USD, GBP/USD, and USD/JPY, along with potential trading strategies.
EUR/USD:
- Overall outlook: Bullish, with potential for further growth.
- Key levels: Support at 1.0791, resistance at 1.0931.
- Trading strategy:
- Long positions:
- Buy at 1.0860 if soft Fed stance and weak US PMI data.
- Alternatively, buy after two price tests of 1.0839 with oversold MACD.
- Short positions:
- Sell at 1.0839 if failed consolidation and hawkish Fed stance.
- Alternatively, sell after two price tests of 1.0860 with overbought MACD.
- Long positions:
GBP/USD:
- Overall outlook: Bullish, but dependent on US data.
- Key levels: Support at 1.2604, resistance at 1.2769.
- Trading strategy:
- Long positions:
- Buy at 1.2662 after false breakout and weak US data.
- Alternatively, buy after two price tests of 1.2634 with oversold MACD.
- Short positions:
- Sell at 1.2699 after false breakout and strong US data.
- Alternatively, sell after two price tests of 1.2730 with overbought MACD.
- Long positions:
USD/JPY:
- Overall outlook: Bullish, but facing resistance near 150.
- Key levels: Support at 146.20, resistance at 153.00.
- Trading strategy:
- Long positions:
- Buy at market if aggressive, or buy stop at 150.60 if moderate.
- Target 150.85, 151.70, or 152.00.
- Short positions:
- Sell stop at 149.80 if aggressive, or sell stop at 149.60 if moderate.
- Target 148.24, 146.20, or 140.80.
- Long positions:
Gold (XAU/USD):
- Buy: Above $2,024 (strong support)
- Target: Up to $2,046 (bullish channel) or $2,062 (longer term)
- Sell: Below $2,020 (breaks support)
- Target: Down to $2,015, $2,000 (psychological), or $1,984 (weak support)
- Overall: Slightly bullish, watch for breakout/breakdown above/below $2,031 (resistance).
Bitcoin (BTC/USD):
- Sell: Below $51,300 (support breaks)
- Target: Down to $47,129 (200 EMA)
- Buy: Above $51,800 (breaks resistance)
- Target: Up to $53,125 (strong resistance) or $55,000 (psychological)
- Overall: Neutral, watch for breakout/breakdown above/below $51,560 (key level).
Disclaimer: This information is for educational purposes only and should not be considered financial advice.
Categories: Market News