Forex on EUR/USD are still moving in a corrective leg of the last decline from 1.3240. The upside movement still looks as a correction but a price movement above 1.3127 will turn the medium term bias to bullish. Until this level holds further downside wave could be seen. The price moved above its 50 day moving average which is sign that some positive momentum could be expected. The last decline should be limited below 1.3242 and bring another fall. On the downside, a clear break and daily close below 1.2918 will confirm the bearish bias and would lead the price to 1.2746. A price movement below the last will resume whole decline from 1.3710.
The British pound extended the medium term correction and currently the pair is hovering around 1.5260. First intraday resistance could be projected at 1.5275 and a clear move above it would lead the price to the next resistance at 1.5320. The last level should limit the upside move and bring fall resumption. Relative Strength Index is in overbought zone which is sign that some decline could be seen soon. On the downside, a break below 1.5109 will turn bias to bearish and lead the price to the major resistance at 1.5007. A price movement below it will target a test on 1.4830 support.
The pair continues to move in a consolidation pattern of the medium term rise from 91.51. Further waves on upside are expected but only a clear break above 102.74 could resume the bullish momentum. The current correction should be limited by the psychological 100 mark. A price movement through it could bring a deeper decline to the next support at 97.00. The value of Forex on USD/JPY still moves above its 50-day moving average while the RSI is between oversold and overbought zones.
The trend of Forex on USD/RUB remains bullish for the moment. The price broke above the resent high at 31.90 and confirmed the positive momentum. Further rise could be seen with first intraday resistance at 32.45. A price movement above it would lead the price to the psychological 33 mark. On the downside, first support is at 31.52 followed by 31.25. Crucial for the medium term bullish trend is 30.90. Some pull-back could be seen as the daily Relative Strength Index is in overbought zone.
Disclaimer:The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.