Eye on majors, quick technical outlook!

  • by Amir El Araby
  • September 12, 2019, 12:41 AM
  • 331 Views
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EURUSD: 

The EURUSD pair has been trading in a downtrend since placing the short-term peak in the 1.1415 zones. 

euro--12-09.png

On September 03, bulls of the EURUSD pair has been able to stop the bearishness where they succeeded in drawing a hammer candlestick pattern. Areas of 1.1180 could be a soft technical target of the pattern as a recovery clear pattern. 

On the downside, EURUSD shouldn’t breach 1.0855, which act as a stop loss for any longs.

GBPUSD: 

The GBPUSD has been locked in a consolidation mode since recovery from the medium-term low placed in 1.1950 zones. 

GBPUSD-12-09.png

In result, we do believe that staying aside is preferable until a better signal appears. 

Key support exists in 1.2270, while 1.2380 limits the bullish recovery till the moment. 

USDCHF: 

The USDCHF pair is now in a clear bearish mode after putting in huge negative divergence, which is strong on H4, H6 and H8 as well. 

CHF-12-09.png

With a break below SMA50 – colored in red- the path will be clear towards 0.9800 as far as 1.0000 psychological level remains intact. 

USDJPY: 

Strong bearish candlestick pattern in progress along with lack of bullish momentum appearing on the chart.