Technical Overview of EUR/USD, GBP/USD, USD/JPY & USD/CHF: 04.09.2018



Although immediate descending trend-line signals further downside of EURUSD, the 1.1540-30 horizontal-region is likely tough support for the pair to conquer in order to extend its declines towards 1.1490 and the 1.1440 rest-points. Given the quote’s sustained south-run beneath 1.1440, the 1.1390 and the 1.1350 may offer intermediate halts prior to highlighting the 1.1300 round-figure. Alternatively, the 1.1625 TL and the 1.1665 can limit the pair’s near-term advances, breaking which the 1.1740-45 area could gain market attention. Moreover, buyers’ refrain to respect 1.1745 might push them to the 1.1790 and the 1.1820 levels.


Having failed to clear the 1.3010-15 resistance-confluence, comprising 50-day SMA & four-month long downward slanting trend-line, the GBPUSD now rests around 1.2800-1.2790 support-zone, which if broken can drag the pair to 1.2730 and the 1.2660 supports. Should prices continue trading south after 1.2660, the 61.8% FE level of 1.2540 becomes important to watch. Meanwhile, the 1.2920-25 could restrict the pair’s adjacent upside ahead of shifting the focus back on 1.3010-15 confluence. Though, pair’s D1 close beyond 1.3015 might not hesitate fueling it to the 1.3100 and the 1.3195-1.3200 hurdles to north.


USDJPY’s U-turn from 110.70-65 may soon be challenged by the 111.80 resistance-line and the 112.15-20 horizontal-area. In case the pair crosses 112.20 barrier, the 112.60-65 and the 113.15-20 can lure the optimists. If the pair fall short of holding present recovery and witness pullbacks, the 111.15 and the 110.90 may try threatening sellers, if not then 110.70-65 could play its role. It should also be noted that the quote’s additional dips beneath the 110.65 might avail 110.30 and the 110.00 as buffers prior to revisiting the 109.75 mark.


In spite of respecting the 0.9650-45 support-line, the USDCHF needs to surpass the 200-day SMA level of 0.9750 on a daily closing basis to extend its recovery towards 0.9785-90. However, pair’s successful rise above 0.9790 can have 0.9850 to please the Bulls ahead of questioning them with 0.9905-10 resistance-confluence, including 50-day & 100-day SMA. On the downside, the 0.9680 and the 0.9650-45 can confine the pair’s immediate declines, breaking which 0.9570 and the 0.9520 seem crucial to observe. Assuming the pair’s south-run past-0.9520, the 0.9460 and the 0.9425 may appear on the chart.