Intraday Forex Wednesday, July 8 (USDJPY, EURUSD, & etc.) - Sterling was 0.21% higher for the day on optimism that British and EU find common ground.


Hi everyone. This observation is made around 3:30 utc.

Asia Pacific traded mixed on Wednesday morning as concerns around the coronavirus pandemic continue to linger, leading some investors to cash in on recent gains ahead of earnings season.
Concern over the rise in new coronavirus cases helped lift safe-haven assets, including the U.S. dollar index, which was 0.15% higher at 96.94, against a basket of currencies.

I also does analysis for some other currencies. Read more on the website on TECHNICAL ANALYSIS and DAILY MARKET NEWS.

  • The dollar traded at 107.629 in Asia following a 0.5% gain on Tuesday.
  • Dollar could break out of its range against yen as currency options are set to expire later Wednesday and Thursday.
  • Stochastic indicator is at value 85 signalling that the oscillator entering the overvalued ranges.
  • RSI indicator recovered from overvalued range.
  • The MACD is trading above its signal line and positive. The configuration is positive.
Important Levels to Watch for Today:
  • Resistance line of 108.818 and 108.165.
  • Support line of 106.692 and 106.074.

  • Against the euro, the dollar was quoted at $1.1278, following a 0.6% gain from the previous session.
  • Stochastic and RSI indicators both steadies around normal ranges of 50 after recovering from oversold ranges.
  • The MACD is trading above its signal line and negative.
Important Levels to Watch for:
  • Resistance line of 1.1349 and 1.1419.
  • Support line of 1.1216 and 1.1168.