Forex analysis today
Forex market is highly volatile and here are our today’s analysis of major currency pairs . We will cover our favorite pair usd/jpy , usd/chf , euro and dollar index today . Kindly note these levels are valid for today’s trading session only .
USD/JPY
Japanese enjoying strong yen since last 2 weeks and currently its trading at 112.17 . Crude oil is not holding on higher levels which is impacting dollar . A good resistance on today’s chart for this forex pair at 112.51 . If traders break this hurdle and manage to sustain above our resistance . Then expect market to zoom upto 112.90 – 113.30 today .
A good support on usd/jpy 111.70 . If forex traders break this level and manage to sustain beneath our support . Then expect market to support sellers upto 111.20 – 110.80 today .
Usd/Jpy trend update : Trend is flat to negative for now . Stay cautious .
USD/CHF
USD/CHF trading at 0.9950 . This forex pair did not crash like yen and its holding on higher levels . A good support on chart at 0.9890 . If traders break this support and manage to hold beneath our support . Then expect market to support sellers upto 0.9840 – 0.9800 today .
A good resistance in this forex pair at 0.9999 . If traders break this hurdle and manage to hold above our resistance . Then expect market to zoom upto 1.0080 – 1.0130 today .
Usd/Chf trend update : Trend is flat to negative for now .
EUR/USD
Yesterday euro did not break 1.1000 and it fired from 1.1002 . Currently its trading at 1.1032 . A good support in this major forex pair at 1.1000 . If traders break this support and manage to sustain beneath our support . Then expect market to correct upto 1.0970 – 1.0920 today .
A good resistance in this forex pair at 1.1080 . If traders break this resistance and manage to sustain above our hurdle . Then expect euro to enjoy rise upto 1.1130 , 1.1180 today .
Eur/Usd trend update : Trend is flat for now .
Dollar Index
Dollar index trading at 97.32 . Today it has hurdle at 97.60 . If traders beat this hurdle and manage to hold above our resistance . Then expect 97.99 – 98.20 and above that more fire in dollar .
If dollar index break our support at 96.90 and sustain beneath this major support . Then bad movement ahead for dollar buyers upto 96.55 – 96.25 today .
Dollar index is looking flat to negative for now . But keep an eye on crude oil . Its direct related to crude movement only . Read gold forecast to know how its moving nowdays .
More will update to our trading signal provider .