What are Today’s Trends?
EUR / USD
Resist: 10850, 10878, 10983 ST Trend: Up
(108425) Support: 10764-055, 10737, 10705* Obj: 10983 TRP: 107.05
The market posture is bullish and signals for a larger emerging upswing, hinting for a trending drive to 10983+. Stable action over 10800+ will encourage follow through rallies. A full retraction of last Tuesday’s range is needed to flip trade to a correction phase, but a close under 10705* is needed for an outright bear downturn.
GBP / USD
Resist: 12550, 12569, 12629+ ST Trend: Up
(12526) Support: 12435, 12464, 12255* Obj: 12629 TRP: 122.55
The market is bullish and signals for a larger bull wave that holds potential to stretch for 12629. Trade is again poised for rallies today. Any corrective dips will likely hang in the upper half of last Tuesday’s range if bull forces are in control. Only a close under 12255* highlights a reversing turnover.
USD / JPY
Resist: 11165, 11259, 11388 ST Trend: Sdwys/down
(11024) Support: 11032, 10934, 10842* Obj: 10842 TRP: 11388
The market is short term bearish and triggering a breakout attack over previous swing lows from recent months and signals for a drive to 10842-. A close under 10842 alerts for a larger emerging bear drive. We may see a slip to test around the old swing lows and develop minor flagging corrections, but tight consolidation action will keep trade ready for rallies. A close over 11388* is needed to turn the trend back up.
AUD / USD
Resist: 7704, 7748*, 7804+ ST Trend: Sdwys/down
(7617) Support: 7603-00, 7567-12* Obj: 7490? TRP: 7748
The market posture remains short term bearish and a breakout under the previous 7490 swing low projects a drive to 7158-. A close over 7748* will drive to 7802+. Stable action along 7600+/- a few days will likely prompt another rally attempt.
XAU / USD
Resist: 1260-1264, 1270 ST Trend: Up
(125777) Support: 1226-1230, 1228, 1200* Obj: 1264 TRP: 1226
The market is triggering a bull upswing that calls for rallies to challenge into the previous swing high over 1260+. Closes over 1260 and the 1264 high each give bull signals for a drive to 1280. The stalling action under 1254 cautions for corrective setbacks, but trade should hold within last Tuesday’s range to maintain strong bull forces. A close under 1226* alerts for a reversal downturn.