EURUSD: Sees Further Bearish Momentum!
The first assumed target at 1.1773 levels has been met, so a pullback to 1.1936 may be seen before another fall if seen that would be a selling opportunity. Immediate support is seen around 1.1756 ( as the 4-hour chart suggests), below that level should touch 1.1730 levels (daily chart support), we might see hesitation around here, If this happens, resistance comes around 1.1790 levels ahead of 1.1837/1.1861 levels (selling opportunity), but If 1.1730 fails to hold, expect further decline to the 1.1670 levels, further down, support stands at the 1.585 levels. (above 1.1861 sees limited gains below 1.1936 levels.).
On the upside, resistance comes at the 1.1936 levels, a daily closing back above that level will turn the focus again on the 1.2059 levels before another fall.
Conclusion: The EURUSD continues to face downside threats below 1.1936 levels. Above 1.1936 sees a recovery risk to the 1.2059 before the next falling.
As long as 1.3585 resistance holds on a daily closing basis, the GBPUSD remains in a corrective pullback mode and further down could be seen in GBPUSD, immediate support comes at the 1.3395 levels. At this point, we may have a strong support around here, (we have static support -closure of Sep 14, 2017 -and dynamic support – SMA14). This level may bring some rebound to the upside if seen, resistance comes at the 1.3490 levels ahead of the 1.3585 levels, however; below 1.3395 sees a further decline to the 1.3328 levels, next support comes at the 1.3266 levels ahead of the 1.3147 levels.
On the 4-hour chart, the pair is bearish , rsistance comes at the 1.3450 levels ahead of 1.3487 levels then 1.3528 (main), support comes at the 1.3370 levels where a strong rebound is very liekly, below that level may bring a free fall to the 1.3147 levels.
On the upside, above 1.3490 sees a recovery risk to the 1.3585 levels before another fall, above 1.3585 will restore the upside momentum and may expose the 1.3658 levels.
Conclusion: The GBPUSD continue to face corrective pullback threats below the 1.3585 levels.
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as long as 111.32 – broken resistance turns support – holds on a daily closing basis, the USDJPY remains on the upside to the 112.67 levels, a halt is likely and it may turn lower from here but if this fails to happen, next resistance 113.95 levels, further upside, resistance stands at the 114.87 levels.
On the downside, support comes at the 111.32 levels, below that level sees a pullback risk to the 110.25 levels ahead of the 109.54/109.23 levels
Conclusion: The USDJPY continues to face upside threats above the 111.32 levels…