Intraday forex analysis covering EURUSD , GBPJPY analysis , and USOIL with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
EURUSD breaking resistance
The euro continues to maintain its grip on the dollar, after adding over 100 pips in recent sessions. Zooming into the intraday chart, the buying pressure is waning slightly as a jump above 1.1750 was met with stiff resistance.
- A close back above 1.1835 at the last swing high could be enough to resume the euro’s climb.
- Failing that, 1.1680 becomes a critical floor as sentiment remains unstable.
GBPJPY stuck in a bull channel
GBPJPY analysis shows The pound finds further support after bouncing away from the 215.00 level. The pair looks to capitalise on its break above 215.60 and is aiming at the previous spike towards 216.30.
- A bullish continuation could pave the way for an extension higher.
- In the meantime, the RSI’s fading condition could lead to a slight pullback.
- A drop below 214.90 opens the door to 214.00 at the base of the last swing low.
USOIL hitting resistance
WTI consolidates after testing the $95 zone. After hitting a high of around 98.00 in previous sessions, economists were sure that $100 a barrel would be reached in the next month, as Middle Eastern tensions continue.
- If crude can close above 98.00, it will give the black gold a chance to break higher.
- Bulls will need to be wary of the high fluctuation in price action, as a fall back below 94.30 would leave prices vulnerable to another sell-off towards 88.00.
