AUD/USD: Another visit to the 55 day EMA

After the Australian Dollar versus the US Dollar bounced to the downside from the 200 day exponential moving average, it has fallen more than 200 pips and reaches the 55 day exponential moving average. As we can see on the daily chart of the AUD/USD, the price has already visited recently that moving average and it has bounced to the upside; therefore, it is possible to see another bullish bounce from this area. But if the EMA is broken to the downside, then the bearish momentum may accelerate even more.

GBP/USD: Good entry opportunities on the daily chart

The Pound versus the Dollar has been behaving very technical around its 200 day exponential moving average, around the 1.5459 zone. The 200 EMA first acts as resistance and as we can see on the chart, the price bounces to the downside and makes a low around the 1.5085 level. From that point the price goes back and visits the 200 EMA one more time, but this time the odds of seeing a breakout where higher and that’s what happened. Price breaks above the 200 EMA and makes a high around the 1.5816 level to come back down to its 200 EMA. Since support becomes resistance and resistance becomes support, now the 200 EMA could act as support and a bounce to the upside from the current levels is possible.

The USD/SGD is very close to give a breakout signal

The US Dollar versus the Singaporean Dollar has kept a well-sustained bearish trend with some bullish pullbacks that have been broken to the downside systematically, as shown on the daily chart. At the moment the pair is right in the middle of one of those pullbacks and it could give us a sell signal if the lower trendline is broken or a buy signal if the upper trendline is broken. The triangle’s shadow shows an area where if hit by the price, all signals will be ignore, because there was no real breakout, just a consolidation without a real entry signal.

Good bounce from the 1.5800 level on the GBP/USD

The Pound versus the Dollar moved a little bit more than 100 pips during today’s session from the 1.5700 area to the 1.5800 level. The consumer sentiment out of the US came out worse than expected and that is why the US Dollar lost ground versus its main counterparts. The GBP/USD gains a bullish momentum and reaches the 1.5800 level, which it tried to break, but then it came back down. Those round number levels could act very well as support or resistance zones and that is why we should watch out for the visits at those levels.

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The USD/CAD is very close to breaking to the downside

The US Dollar versus the Canadian Dollar has kept a good support around the 200 day exponential moving average and the 1.1940 low level. On the daily chart we can see that the last candles have had lower lows and lower highs. This is an indication that the sellers are taking control of the pair. If a bearish breakout is confirmed, then all we have to do is to wait for the pullback to the 1.1940 level for a possible short entry.

Possible bearish breakout on the USD/CAD

The US Dollar dropped today versus the Canadian Dollar and visits again its 200 day exponential moving average. A little bit below that moving average we can see the most recent low that the pair made around the 1.1940 level. The zone has proven to be a very good support area, but the price has already visited the zone three times. If there is a breakout of the 1.1940 level to the downside and a pullback is completed, then we may be shown with the opportunity to open a short position.