See also
In Asia, Japan will release two macroeconomic reports: the Economy Watchers Sentiment and Current Account. The US will also release some economic data such as IBD/TIPP Economic Optimism and NFIB Small Business Index. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Resistance 3: 113.61
Resistance 2: 113.39
Resistance 1: 113.17
Support 1: 112.89
Support 2: 112.67
Support 3: 112.45
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
On the 4-hour chart, the GBP/AUD cross currency pair appears to still be dominated by Sellers, which is confirmed by its price movement which is moving below the WMA (30
With the price movement forming Higher Low - Lower Low and supported by the decreasing slope of WMA (30 Shift 2) and the movement of Crude Oil prices moving below
Early in the American session, the EUR/USD pair is trading around 1.1345, reaching the top of the downtrend channel and showing signs of exhaustion. The euro could resume its bearish
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
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