EUR-USD is showing distinctive downward bias. First targets for Sellers are clustered at 1.5225 and 1.5045, which are Fibonacci 50% and 61.8% retracements levels. Recent re-test of the support level at 1.5040-1.5060 area has brought currency slightly up also encouraged by 38.2% Fibonacci retracement.

Stochastic remains in oversold area but is obviously having troubles rising higher while MACD has crosses zero point confirming downtrend direction.

Also if to zoom out to weekly charts, we have some signals forming that tell us a downtrend is most likely on its way. ADX 10 lines are about to cross, Stochastic is sloping down and MACD lines are crossing down.

GBP-USD pair is currently playing consolidation, where we wait for a break outside the triangle. Till that time use only strategies that work in consolidating markets or refrain from trading.

Happy Forex profits!

EUR-USD => tested the highs for the third time. Now requires to clear 1.5925 for a try at 1.6000, buying potential remains while trading above 1.5830, trading below signals reversal to 1.5660

AUD-USD => pullback within overall move higher while trading above 0.9235-45 rising trend line support, forming strength over 0.9325 call for a move higher later

GBP-USD => retracement higher is holding trading below 1.9850, trading above calls for gains extend to 1.9890-930, trading below 1.9760 calls for new forming weakness back to 1.9670

Further comments at http://forex-trading-signals.net/morning-comments

Good luck in Forex trading!

EUR-USD => sideways range, risk is for a dip down to 1.5660-70 if trading below 1.5700, requires over 1.5750 for gains to extend to 1.5780-90

AUD-USD => pullback within overall move higher while trading above 0.9235-45 rising trend line support, forming strength over 0.9325 calls for a move higher

GBP-USD => consolidation below main 1.9730-60 resistance, buying corrective preference while trading above 1.9680, trading below calls for another try for 1.9650, then 1.9600-10

Further comments at http://forex-trading-signals.net/morning-comments

In fundamentals today we would be interested in Australian dollar:

9:30pm EST AUD Employment Change => High Impact Expected.
Forecast = 10.0K. If Actual data comes to be higher than that, we will have a stronger AUD. Lower - weaker.

9:30pm EST AUD Unemployment Rate =>Medium Impact Expected.
Forecast = 4.1%. If actual comes to be lower than that, we will have a stronger AUD, higher - weaker.

Good luck in Forex today!

EUR-USD => sellers dominance sets up test of rising hourly trendline support at 1.5690, trading below calls for decline extend to 1.5640-50 at least, preference lower while trading below 1.5740

AUD-USD => testing hourly lows at 0.9240-50 after failure trading below 0.9300, trading below calls for decline to 0.9200-10 at least, preference lower while trading below 0.9275

GBP-USD => breakout down trading below recent range lows at 1.9710-50 sets up potential move to 1.9380-430, strong selling potential while trading below 1.9730

Further comments see at: http://forex-trading-signals.net/morning-comments

Fundamentals today:
time EST
10:00am USD Pending Home Sales m/m => Medium Impact Expected
10:00am USD IBD/TIPP Economic Optimism => Low Impact Expected
2:00pm USD FOMC Meeting Minutes => High Impact Expected
7:01pm GBP Consumer Confidence Index => Medium Impact Expected
8:30pm AUD WMI Consumer Sentiment m/m => Medium Impact Expected
Tentative JPY Interest Rate Announcement => Medium Impact Expected