FxWirePro- Major European Indices 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
FxWirePro: AUD/USD edges higher ahead of RBA meeting minutes 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
FxWirePro: USD/CNY downside pressure builds, key support level In focus 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
EURUSD rallies are spiking above DMAs ever since dragonfly doji occurred at 1.1856 levels, for now, more upswings seem to be likely on bullish DMA and MACD crossovers (refer daily plotting).
The pair in the recent past forms back-to-back shooting star patterns at 1.2303, 1.2287, 1.2320, 1.2329 & 1.2285 levels and hanging man patterns at 1.2316 levels. The intermediate trend that was oscillating between the tight range of 1.2223 and 1.2545 levels but for now, bears have managed to break below this range with bearish EMA & MACD crossovers (refer weekly chart).
Well, the current price slides way below 21EMA on this timeframe as both leading oscillators signal weakness and the lagging indicators indicate downswings to prolong further.
The stiff resistance levels were observed at 1.1969 and 1.2002 levels.
As the bullish swings take support at 7DMA, bullish DMA & MACD crossovers are most likely to drag price rallies even though the minor trend has been drifting in sideways for today.
RSI and stochastic curves have shown upward convergence that indicates the strength and intensified bullish momentum (on daily terms) and it is absolutely adverse on weekly terms.
On a broader perspective, the consolidation phase in the major trend that was bullish now turned into bearish again. After last three months struggle for healthy bullish momentum, the current prices have popped-up flurry of bearish patterns, such as hanging man, shooting star at peak of rallies coupled with bearish MACD crossover on weekly terms.
Hence, at spot reference: 1.1957 levels, contemplating prevailing bullish sentiments in the minor trend, on trading grounds, it is advisable to buy one-touch call option strategy, using strikes at 1.1969 levels is advocated to participate in the bullish sentiments.
Alternatively, shorting futures contracts of near month tenors are also advisable with a view to arresting potential slumps.
Currency Strength Index: FxWirePro's hourly EUR spot index is displaying shy above 42 levels (which is bullish). While hourly USD spot index was inching towards -15 (neutral) while articulating (at 05:53 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
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