EURUSD

The first day of the week was marked with quite strong correction. The price tested the support at 1.3350, and currently the second attempt to break the level is taking place. So far it is required to trace the oscillator dynamics, in particular, the MACD histogram is inclined downwards so far, and the Stochastic lines, although have lowered into the “oversell” area, are not signaling about the descending impulse stop yet. If we wait till the correction stop at the support (we will know about the stop from the white candle in the four hour graph and the Stochastic lines cross-over for buying), and the support will not be broken, a good buying signal with 1.3520-1.3570 as the nearest target. In case if the support level is broken, the way to mark 1.3250 will be open with an intermediate barrier at 1.3300.

GBPUSD

Having failed to reach psychological barrier 1.5000 by 50 points, GBPUSD has appeared under strong pressure of bears. The price is still fluctuating within the ascending channel, and in the four-hour graph it has reached 38.2% Fibonacci level. Like in EURUSD, the MACD histogram is inclined downwards, and the Stochastic lines, although have lowered into the “oversell” area, are not signaling about the descending impulse stop yet. Therefore, to take the trade decision to buy, it is required to make sure that the descending impulse has stopped. The British currency is under influence of the expectation of BOE rate decision announcement on Thursday, which may make GBP many troubles. After level 1.46-1.4630, 50% Fibonacci correction level is located at 1.4530 and 61.8% at 1.4430. The level 1.5000 described above serves as a resistance, from which it is quite possible to sell till Thursday.

EUR/JPY

In the day graph, the price is moving within an ascending channel, however, the long upper shadow of today candle is a bear sign. The Japanese currency strongly depends on the situation in stock markets, therefore it is required to monitor the situation at the leading stock sites continuously for taking decisions JPY. The support is 134.50, followed by 133.20-133.50 and 131.80-132.00 – 50% Fibonacci correction level. The nearest resistance is 137.50, followed by 138.00 and 138.50.

Have a nice day! Alex Sabodin.                                                       

Pro Finance Group Inc.