EUR/USD - Euro/dollar continues gaining back lost ground
The EUR/USD has recently been making a bit of a comeback after losing significant ground from early May to early June. The market has been slowly grinding higher after bottoming out just above 1.3500 in mid-June. There's a key level of resistance coming in close overhead, near 1.3670.
The price action at this level will be important this week; if we get an obvious price action sell signal from there, it could be a good selling opportunity, but if price continues it's recent buoyancy and closes above that resistance on the daily chart, it would be a bullish sign and could open the door for a larger upside run in the coming days and weeks.
GBP/USD - Sterling/dollar bullish trend continues
The GBP/USD uptrend is still very much intact. The market put in a pretty quiet week last week, forming a weekly chart inside bar, which indicates we could see a stronger move/more price movement this week. This week, traders can look for buying opportunities if the GBP/USD rotates back to support/value near the eight to 21-day EMA support layer to trade in line with the broader daily chart uptrend.
AUD USD - Aussie/dollar remains buoyant
The AUD USD has been grinding higher recently and is now trading just below a key resistance level near 0.9460 area. If this recent bullish momentum continues this week, we could see the price break above that resistance and continue the recent push higher. If the market stalls at that resistance and rotates lower, we will look to buy from support as we feel the there's good potential for this recent up move to continue in the days and weeks ahead.