Monday’s Technical Report: GBP/USD, EUR/USD, USD/CHF, USD/JPY


Positive attempt was achieved on GBP/USD, but trading remains below moving averages 20 and 50 and below 50% Fibonacci at 1.5560.

GBP/USD 4-Hour Chart

However, we can’t propose strong bearish wave, as we need a break below 1.5470 to affirm the bearishness; noting that, ADX is negative.

From here, we will be neutral between 1.5560 and 1.5470 and we may sell below 61.8% Fibonacci.

Support: 1.5470 – 1.5400 – 1.5345

Resistance:1.5560 – 1.5600 – 1.5650

Direction: Bearish below 1.5470


EUR/USD inclined, trading above 1.1000 psychological and it still needs to clear 1.1085 to prove the bullishness.

EUR/USD 4-Hour Chart

Assessing indicators, moving averages are positive, while ADX is turning into positivity. Any trading above 1.0965 will be a positive signal.

Support: 1.1000 – 1.0965 – 1.0900

Resistance: 1.1085 – 1.1120 – 1.1200

Direction: Up


The USD/CHF pair has been stopped by bears just below 0.9650 levels again and that could be a negative sign, but trading above 0.9540 forces us to be neutral.

USD/CHF Daily Chart

Risk versus reward ratio is inappropriate since the pair is trading also above moving averages despite being resisted below 0.9650.

Only a break back above 0.9630 will weaken .9650 and will be a positive signal over intraday basis.

Support: 0.9540-0.9500-0.9460

Resistance: 0.9630-0.9650-0.9710

Direction: Sideways


The pair has declined on Friday ahead of the last weekly closing, proving the strength of the strong level of 124.50 as seen on the provided daily chart.

USD/JPY Daily Chart

Trading between SMA20 and SMA50 forces us to remain neutral, but many negative signs will be activated on RSI and ADX with a break below 123.25.

On the other side, areas of 124.50 for any short positions; noting that, coming above 124.20 will weaken the resistance of 124.50.

Support: 123.25-123.00-122.60

Resistance:124.00-124.20- 124.50

Direction: Neutral, but bearish below 123.25

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