Forex levels update
New year started with a major panic in market . Here are major forex pair levels for today’s trading session . These levels are valid for day trading only .
USD/JPY
Our favorite currency pair cracked as it opened today from 120 to 119 . Currently its trading at lowest point of the day at 119 . A good support on chart at 118.70 . Once bears take this out and manage to sustain beneath our support then expect market to correct more upto 118.40 – 118 today .
A good resistance in this forex pair at 119.60 . If buyers take this resistance out and manage to sustain above our chart resistance then expect usd/jpy to zoom upto 120.20 – 120.60 today .
USD/JPY trend update : Trend is clearly in favor of bears . But its already lost more than 100 pips in just 6 hours of trading . So avoid fresh selling on these levels for now .
EUR/USD
Euro trading pretty higher today at 1.0914 due to bad dollar index performance since morning . A good resistance in eur/usd at 1.0966 . Once market break this barrier and manage to trade above this level then expect buyers to take charge upto 1.1030 and more .
A good support in this forex pair at 1.0850 . If bears take this support and sustain beneath this level . Then expect market to favor sellers upto 1.0800 and more .
EUR/USD trend update conclusion : Trend is flat to positive for now .
USD/CHF
This forex pair also crashed today and trading approx 70 pips lower from its highest point at 0.9944 . A good support in this currency pair at 0.9900 . Once bears take this out and manage to trade sustain below this level then expect 0.9860 – 0.9820 in today’s trading session .
A good resistance in this forex pair at 0.9990 . Once buyers take this level out and manage to trade above this level . Then expect some recovery upto 1.0030 – 1.0090 today .
USD/CHF trend update : Trend is weak for now . Avoid buying .
GBP/USD
This forex pair trading at 1.4759 . A good resistance on chart at 1.4790 . Once buyer take this resistance and manage to sustain above our hurdle then expect 1.4830 – 1.4870 today .
A good support in this forex pair at 1.4720 . Once sellers take this out and manage to sustain beneath this level . Then expect 1.4670 – 1.4630 today .
GBP/USD trend update : Trend is flat to weak for now .
More will update to our forex trading signal subscribers .