EURUSD

Euro is working against US Dollar index. Just as US Dollar index has broken out of a descending wedge and is trying to move higher, EUR/USD has broken down from an ascending wedge and is trying to move lower. A close move below horizontal support 1.2063/1.2050 level and the 38.2% Fibonacci retracement level would open the door for a move down to 1.2011, which are previous highs September 1st, 2020. However, bulls are guarding the 1.2050 level, just as they did not January 18th. Below 1.2011, 1.1975 is the 50% retracement from the previously mentioned timeframe which will offer the next support level.

 GBPUSD

GBPUSD is stabilizing over a wide range, with key support at 1.3630. The pair saw strong selling interest near the 1.3750 and 1.3760 levels. A high is formed at 1.3758 and the pair is correct at the bottom. There was a break below 1.3700, but the pair stayed well below 1.3630 and 1.3620. It  appears to be a major support near 1.3630 and a simple 100 (4 hours) moving average. Any further losses could open the door for a push towards the 1.3575 level or the 200 simple moving average (4 hours). Conversely, the pair is clearly facing a major hurdle at 1.3750. A successful close above the 1.3750 resistance level could open the door for a steady rise to 1.3840 or even 1.3880.

USDJPY

The USDJPY tested 105.035 yesterday before coming off from there. It may re-attempt to test 105.00-105.20 on the upside in the next couple of sessions before falling off from there back towards 104.50 or lower.

AUDUSD

The AUDUSD has bounced from 0.76. Unless a break below 0.76 is seen, we may expect the trend to remain bullish for the near term, again attempting a rise towards 0.77000 & above in the near term.

USDCAD

USDCAD fell to 1.2850 during the early Asian session on Tuesday. Even so, bullish MACD, an ascending trend line from January 21 and sustained break of the key EMA favor the buyers. However, fresh buying is  likely to be above the January high of 1.2881, while 1.2030-25 may be targeting the horizontal area, which has been multi-tiered since early November 2020.

WTI

WTI moved up in the evening session yesterday after seeing positive global cues as open interest data shows an increase in long positions. Overall WTI look bullish towards $58-60 and $55-57 respectively. The prices now look bullish and we may expect a rise towards $55-57 in the near term.

XAUUSD

XAUUSD has risen well targeting 1880 on the upside Our first mention of the 1880-1820 range remains intact and we can expect medium term outages from both sides. Now, as the gold price rises, look at the price around 1880 and see if it breaks backwards to reach the 1900$  above level.