CURRENCYCURRENT BIASPOTENTIAL STRATEGY
EUR/USD (Short Term)
Bouncing modestly after bearish gap, looking to sell rallies into upper 1.2300s
GBP/USD (Short Term)
Sell if GBP/USD breaks below 1.5459, stop at 1.5516, target at 1.5405. See full report for more details
USD/JPY (Short Term)
Lackluster trade continues in tight range below 80.00 psychological resistance
USD/CHF (Short Term)
Pulling back from 7-month highs near .9800, but bullish momentum intact. See full report for more details
USD/CAD (Short Term)
Consolidating around 1.0200 round handle, monthly pivot resistance looming at 1.0256
AUD/USD (Short Term)
Breaking lower below 1.0200 round handle, room for further drops in today's North American trade
NZD/USD (Short Term)
Dropping modestly, room down to .7900 or .7850

Matthew Weller

Technical Analyst, GFT

  • EUR/USD
  • GBP/USD
  • USD/JPY
  • USD/CHF
  • USD/CAD
  • AUD/USD
  • NZD/USD
EUR/USD (Intraday Forecast)
Potential Strategy
Bouncing modestly after bearish gap, looking to sell rallies into upper 1.2300s
What is the trend?Neutral
What is this pattern?No pattern present - See all chart patterns
Why is this significant?
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The EUR/USD gapped lower to begin the week, but has since started to inch modestly higher on tepid optimism around the EU Finance Ministers meeting. Currently, the pair is trading above the round 1.2300 handle and may well continue to grind higher during today’s North American session, but the longer-term outlook remains bearish. Bounces into previous-support-turned-resistance near the Monthly R1 pivot at 1.2383 would be seen as strong selling opportunities later in the week. Stay tuned to FX360 and our daily Live Market Analysis webinars for any intraday updates or trade opportunities later today.

Support & Resistance Levels
Resistance 3tbd
Resistance 21.2500Round handle resistance
Resistance 11.2383Monthly S1 Pivot
Current Price1.2292
Support 11.22502-year lows
Support 21.2200Round handle support
Support 3tbd
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  • 4hr Chart -
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GBP/USD (Swing Forecast)
Potential Strategy
Sell if GBP/USD breaks below 1.5459, stop at 1.5516, target at 1.5405. See full report for more details
What is the trend?Down
What is this pattern?Bearish Pin Candle - See all chart patterns
Why is this significant?A Bearish Pin (Pinnochio) candle, or inverted hammer, is formed when prices rally within the candle before sellers step in and push prices back down to close near the open. It suggests the potential for a bearish continuation if the low of the candle is broken.
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The GBP/USD has primarily consolidated so far this week, with a brief foray above the 1.5500 round handle being quickly sold off by the bears. The price rejection at 1.5500 has created a Bearish Pin Candle on the 4hr chart, indicating strong selling pressure at 1.5500 and foreshadowing a potential move lower over the course of today’s trade. At this point, a break through Friday’s low would likely lead to a continuation down to support at the 1.5400 round handle.

To take advantage of this setup, traders could set a stop sell order at 1.5459 (under Friday’s low) with a stop at 1.5516 (above the weekly high and 1.5500 round handle) and a target at 1.5405 (just ahead of the 1.5400 round handle and Monthly S1 pivot). This trade idea would be invalidated by a rally above 1.5516 prior to entry, or if not triggered by the end of today’s North American session (17:00 Eastern, 21:00 GMT).

Support & Resistance Levels
Resistance 3tbd
Resistance 21.5582Monthly Pivot
Resistance 11.5500Previous resistance
Current Price1.5485
Support 11.5400Round handle support
Support 21.5387Monthly S1 Pivot
Support 3tbd
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  • 4hr Chart -
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USD/JPY (Swing Forecast)
Potential Strategy
Lackluster trade continues in tight range below 80.00 psychological resistance
What is the trend?Neutral
What is this pattern?No pattern present - See all chart patterns
Why is this significant?
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The USD/JPY remains within the recent range that has contained prices since late June. Key support at the Monthly Pivot (79.36) is likely to put a floor under any modest pullbacks, whereas resistance at the 80.00 round handle could cap any rallies. As long as rates remain trapped within this range, trading opportunities are likely to be few and far between. Stay tuned to FX360 and our daily Live Market Analysis webinars for any intraday updates later this week.

Support & Resistance Levels
Resistance 3tbd
Resistance 280.50Previous resistance
Resistance 180.00Round handle resistance
Current Price79.54
Support 179.36Monthly Pivot
Support 279.00Round handle support
Support 3tbd
  • 4hr Chart -
  • 4hr Chart -
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USD/CHF (Swing Forecast)
Potential Strategy
Pulling back from 7-month highs near .9800, but bullish momentum intact. See full report for more details
What is the trend?Neutral
What is this pattern?No pattern present - See all chart patterns
Why is this significant?
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The USD/CHF peaked up to 7-month highs at .9800 following a bullish gap on the weekend, but has since pulled back modestly. As of writing, the pair appears to be overbought and may be due for a small retracement over the course of today’s trade, but any modest pullbacks will be seen as opportunities to join in to the established uptrend, rather than signs of a sustainable reversal. Regardless, trading the USD/CHF is pointless, until and unless the EUR/CHF starts to move substantially; instead, traders should focus opportunities in the EUR/USD, which has been moving directly opposite to the Swissie and offers lower spreads and better liquidity.

Support & Resistance Levels
Resistance 3tbd
Resistance 2tbd
Resistance 1.9800Round handle resistance
Current Price.9769
Support 1.9698Monthly R1 Pivot
Support 2.9600Round handle support
Support 3tbd
  • 4hr Chart -
  • 4hr Chart -
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USD/CAD (Swing Forecast)
Potential Strategy
Consolidating around 1.0200 round handle, monthly pivot resistance looming at 1.0256
What is the trend?Neutral
What is this pattern?No pattern present - See all chart patterns
Why is this significant?
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The USD/CAD rallied sharply on Friday’s Non-Farm Payroll report, but has since consolidated in a tight range around the round 1.0200 handle. Trading this week has been listless, and until we begin to see some more substantial movement, traders are advised to avoid trading the pair for now. To the topside, resistance is likely at the central monthly pivot point (1.0256) with support expected to emerge at the round 1.0100 handle.

Support & Resistance Levels
Resistance 3tbd
Resistance 21.0256Monthly Pivot
Resistance 11.0200Round handle resistance
Current Price1.0200
Support 11.0100Round handle support
Support 21.0050Previous resistance, now support
Support 3tbd
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  • 4hr Chart -
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AUD/USD (Swing Forecast)
Potential Strategy
Breaking lower below 1.0200 round handle, room for further drops in today's North American trade
What is the trend?Down
What is this pattern?No pattern present - See all chart patterns
Why is this significant?
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The Aussie gapped lower to begin this week, and unlike the EUR/USD, has continued to drop in Asian and early European trade. With rates remaining pressured below the 1.0200 round handle, further drops  during today’s North American trade would not be surprising. The bears will target the 1.0100 round handle and Monthly Pivot support at 1.0025 next; Stay tuned to FX360 and our daily Live Market Analysis webinars for any intraday updates or trade opportunities later today.

Support & Resistance Levels
Resistance 3tbd
Resistance 21.0300Previous resistance
Resistance 11.0200Round handle resistance
Current Price1.0173
Support 11.0100Round handle support
Support 21.0025Monthly Pivot
Support 3tbd
  • 4hr Chart -
  • 4hr Chart -
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NZD/USD (Swing Forecast)
Potential Strategy
Dropping modestly, room down to .7900 or .7850
What is the trend?Down
What is this pattern?No pattern present - See all chart patterns
Why is this significant?
What other indicators or Fib Levels support this thesis?
Reason for Strategy

The Kiwi has traded in lockstep with its larger antipodean brother over the past week. As of writing, the round .8000 handle is serving as key intraday resistance, and a move down to support at .7900 or the previous lows from late June at .7850 will be favored during today’s North American trade. Stay tuned to FX360 and our daily Live Market Analysis webinars for any intraday updates or trade opportunities later today.

Support & Resistance Levels
Resistance 3tbd
Resistance 2tbd
Resistance 1.8000Round handle resistance
Current Price.7941
Support 1.7900Round handle support
Support 2.7850Previous support
Support 3tbd
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  • 4hr Chart -
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DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. We generally encourage readers and clients not to risk more than 3% of their account on any single trade. In addition, any projections or views of the market provided by the authors may not prove to be accurate.

FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com

NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of futures results.


The information, including Commentary and Trade Ideas, provided on FX360.com should not be relied upon as a substitute for extensive independent research which should be performed before making your investment decisions. Global Futures & Forex, Ltd. (“GFT Markets”) and FX360.com is merely providing this information for your general information. The information and opinions presented do not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. Any projections or views of the market provided by FX360.com may not prove to be accurate.

The views of the authors and analysts are not necessarily those of GFT Markets, its owners, officers, agents or other employees. FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com. GFT Markets and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.
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AUD/USD
Medium term



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Stop at 0.985
Target at 0.963
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