EUR/USD formed a fakey setup today after flirting with lower price earlier in the session.Given the formation of this setup at the slope of 8EMA we anticipate a move higher in the near term.To validate a bullish bias the key resistance zone around 1.3416 must be broken with a close above it.Any close below this zone will still be consider a bearish momentum in the near term.This key resistance zone will determine our directional bias in the near term.
GBP/USD break the low of the inside bar formed yesterday, suggesting lower price in the near term.The next support level is around 1.5417 zone.
NZD/USD failed to muster any bullish pressure today,thereby ending the day on a bearish note.The pinbar formed yesterday is still valid,any break of the low of the pinbar will invalidate the setup thereby supporting the possibility of lower move into 0.7686 support zone.
USD/CAD can not sustain higher price earlier in the session, thereby ending the day as a fakey setup.The near term support zone is 0.421 area.
GBP/USD break the low of the inside bar formed yesterday, suggesting lower price in the near term.The next support level is around 1.5417 zone.
NZD/USD failed to muster any bullish pressure today,thereby ending the day on a bearish note.The pinbar formed yesterday is still valid,any break of the low of the pinbar will invalidate the setup thereby supporting the possibility of lower move into 0.7686 support zone.
USD/CAD can not sustain higher price earlier in the session, thereby ending the day as a fakey setup.The near term support zone is 0.421 area.
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