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.
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.
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.
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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