EUR/USD
Senior timeframes
The technical picture remains roughly the same without considerable changes. EUR/USD has been trading within the same corridor as yesterday. It has not been able to overcome the gravity of the zone where important levels of various timeframes are clustered. The bulls aim to go beyond the zone of 1.0285 – 1.0309 – 1.0369 – 1.0385 which are the final levels of the weekly Ichimoku cross + a one-month short-term trend + the aim to break the daily Ichimoku cloud. Another goal of the bulls is to pin the price firmly above these levels. Alternatively, the euro bears aim to get rid of the gravity zone of 1.0285 – 1.0309 – 1.0369 – 1.0385 and settle the price firmly below.
H4 – H1
Uncertainty is ruling junior timeframes. EUR/USD remains in the gravity zone of the central intraday pivot point at 1.0388. If the bulls take the lead today, they should pass resistance of classic pivot levels of 1.0445 – 1.0496 – 1.0553 during the day. Otherwise, if the bears hold the upper hand today, the price could head for 1.0314 (the weekly long-term trendline) as well as 1.0337 – 1.0280 – 1.0229 which are support levels of the classical pivot levels.
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GBP/USD
Senior timeframes
Our conclusions and expectations unveiled earlier remain valid. GBP/USD is still sticking to 1.1895 – 1.1781 represented by one-week and one-month levels. The following upward targets are recognized at 1.2099 – 1.2292 which is the intraday target of the cloud's breakout. The price is accelerating its climb from the one-month average trendline. The nearest support levels on senior timeframes are seen at 1.1659 – 1.1511 – 1.1411.
H4 – H1
The central intraday pivot level at 1.1892 serves as the focal point at junior timeframes. The upward targets for today are situated at 1.1959 – 1.2005 – 1.2069 which are classical pivot levels. At the moment, support levels of the classical pivot levels are identified at 1.1849 – 1.1785 – 1.1739. The key support which keeps the ongoing balance of trading forces coincides with the weekly long-term trendline at 1.1797.
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For technical analysis, the following ideas are used:
Senior timeframes are analyzed by Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun
H1 – classical Pivot Points + 120-period moving average (weekly long-term trendline)
