US Dollar’s Outlook Brightens; Setups on EUR/USD, USD/JPY, GBP/USD

On the other hand, if EUR/USD orchestrates a comeback and reclaims the 1.0635 threshold, resistance can be spotted near the 1.0700 psychological mark. On further strength, the focus will be on 1.0725. Bears must vigorously uphold this technical ceiling; any failure to do so might ignite a rally towards the 50-day and 200-day simple moving averages, hovering near 1.0820.soared on Monday, climbing past the 152.00 handle and hitting its highest level since June 1990, buoyed by rising U.S.

Conversely, if bulls start taking profits on their long positions and USD/JPY pivots to the downside, support materializes at 153.20 and 152.00 thereafter.could stabilize around this technical floor during a pullback, but in the event of a breakdown, bears could set their sights on 150.80, followed by 150.50, the 50-day simple moving average.experienced a slight decline on Monday but maintained its position above support at 1.2435.

On the flip side, if sentiment shifts back in favor of buyers and cable manages to mount a bullish reversal, primary resistance emerges at 1.2525. Above this area, attention will be on the 200-day simple moving average at 1.2580, followed by 1.2650, where the 50-day simple moving average intersects with two important short-term trendlines.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.

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