Technical Checks For EUR/USD, GBP/USD, USD/JPY & NZD/USD: 18.09.2018

Anil Panchal

EUR/USD

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Break of 100-day SMA couldn’t help the EURUSD extend its latest advances as ten-week long descending trend-line, at 1.1720, presently challenges the buyers. As a result, a D1 close beyond 1.1720 become necessary for the pair to justify its strength in targeting the 1.1760-65 and the 1.1820 resistances. In case the 1.1820 fails to disappoint EUR optimists, the 1.1840, the 1.1880 and the 200-day SMA level of 1.1950 can entertain them. On the downside, 1.1650 and the 50-day SMA level of 1.1600 may offer immediate support to the pair prior to highlighting the 1.1530-20 horizontal-region. Given the pair’s sustained declines below 1.1520, the 1.1430, the 1.1360 and the 1.1300 are likely numbers to flash on Bears’ radar.

GBP/USD

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Unlike EURUSD, the GBPUSD is still to close beyond 100-day SMA level of 1.3170 to aim for 1.3220 and the 1.3300 stats to north. However, the 1.3350 and the 1.3440-50 area might confine the pair’s upside past-1.3300, if not then 200-day SMA level of 1.3525 could gain market attention. Alternatively, the 1.3080, the 1.3000 round-figure and the 1.2980, including 50-day SMA, are likely adjacent rests that the quote can avail during its pullback. If at all prices dip beneath the 1.2980 mark, the 1.2900, the 1.2800-1.2790 support-zone and the 1.2660 seem crucial to watch.

USD/JPY

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The 112.15-20 resistance-area again limits the USDJPY’s upside at the moment, which if broken could escalate the pair’s rise to 112.60 and the 113.15-20 levels. Though, pair’s daily closing above 113.20 opens the door for its rally to 114.00 and then to the 61.8% FE level of 114.40. Should the 112.15-20 restricts the pair’s upside for one more time, the 111.65 and the 111.00 can be considered as nearby supports prior to looking at the 110.65-60 confluence comprising 100-day SMA & an upward slanting TL. Given the pair’s refrain to respect 110.60 level, the 110.00 and the 200-day SMA level of 109.75 can please the sellers.

NZD/USD

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NZDUSD is different from aforementioned pairs as it has some room on the upside before confronting important resistance-region, namely the 0.6615-20, followed by the 0.6645 trend-line hurdle. In case the quote crosses 0.6645 stop, the 0.6670 and the 0.6715-20 might become Bulls’ favorites. Meanwhile, an ascending TL, at 0.6555, may block the pair’s declines, breaking which 0.6535 and 0.6500 could play their roles. If 0.6500 can’t trigger the pair’s U-turn, then it becomes vulnerable to visit the 61.8% FE level of 0.6465 and then the 0.6400 rest-points.

This article was originally posted on FX Empire

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