Forex Cross Pairs starts with The EUR/JPY currency, As Forex pair is currently undergoing a period of sideways trading near the marked yellow box region. Furthermore, we anticipate that this consolidation phase will continue, showing a clear preference for a bullish path. We also recommend that traders who have established long positions from the support level should retain these positions at this time. Conversely, if the pair begins to drop below the defined box area, it is advisable to focus on the 154.00 – 155.00 range as a potential bearish target.
Significant levels for the day encompass:
Support: 155.00, 154.00, 151.50, 148.50
Resistance: 160.00, 162.87, 171.00
EUR/GBP
Further more with Forex Cross Pairs, EUR/GBP is presently undergoing a decline and is undergoing a test of the 0.8700 level. The overarching trend remains bullish, thereby indicating that a rebound from the 0.8700 level would corroborate a continuation of the bullish trajectory, with a targeted objective of 0.8750. In the event that the pair persists in its downward trajectory below the 0.8700 threshold, the most recent swing low becomes the intended focal point.
The pivotal levels for the day are as follows:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
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Forex Cross Pairs: GBP/JPY
In the Forex Cross Pairs for GBP/JPY has undergone a descent, though it has not exhibited a pronounced bearish extension towards the 178.50 level to date. Instead, the pair has displayed an upward inclination today and may endeavor to surmount the 184.00 threshold. Traders are encouraged to exercise vigilance over the pair’s movements within the 178.50 – 184.00 range for the interim.
The salient level to monitor today is as follows:
Support: 178.50, 172.00, 170.00, 168.50
Resistance: 182.45, 184.00
Forex Cross Pairs: GBP/CHF
GBP/CHF appears to be in the process of establishing a foundational footing, thereby seeking to stymie any further depreciation at its existing position. Traders are well-advised to adopt a patient stance, awaiting a constructive correction towards the designated yellow box region. Subsequently, when the pair successfully reaches the resistance level and evokes bearish signals, traders may judiciously contemplate initiating short positions.
Noteworthy levels for the day encompass:
Support: 1.0500, 1.0000
Resistance: 1.1100, 1.1200, 1.1530, 1.1600, 1.1750
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Disclaimer:
Please note that this article serves solely for informational purposes. As such, it is not financial advice. We strongly advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.
