3Sigma FED Rate Decision – EURUSD, GBPUSD, USDJPY Outlook Report 28th July 2021

EURUSD

EURUSD price action is consolidating sideways, the price is trading below 20, 50 and also 200 Day Moving Averages. The key trading level is at 1.1820 (20 Day Moving Average), the price action appears to be capped by 1.1880 (09^th July Daily Swing High) resistance level. A confirmed breakout above 1.1880 level could appear Bullish targeting additional upside resistances at 1.1940 followed by  1.2000 (200 Day Moving Average) levels.  Alternatively a confirmed loss of the initial downside support at 1.1740 level could appear bearish targeting additional supports at 1.1700 (31^st Mar 2021 Daily swing Low) followed by 1.1650 and 1.1630 levels.

GBPUSD

GBPUSD price action appears to be a sideways consolidation. The key trading level is at 1.3700. The upside is capped by the initial resistance at 1.3920 level.  A confirmed breakout above initial resistance at 1.3920 level could appear Bullish targeting additional upside resistances at 1.4000 (Swing High) followed by 1.4150 and 1.4250 levels. Alternatively a confirmed loss of the current support at 1.3700 could support a bearish outlook targeting additional downside supports at  1.3620 followed by 1.3570 and 1.3500 levels.

USDJPY

USDJPY price action appears to be a corrective pullback. The Key trading level is at 110.40 (20 Day Moving Average). The upside is capped by initial resistance at 110.70 (31^st March 2021 Swing High) level.  A confirmed breakout above 110.70 appears Bullish targeting resistances at 111.00 followed by 111.60 and 112.00 levels. Alternatively a confirmed loss of the initial downside support at 109.50 (19^th July Swing Low) level, could support a Bearish outlook targeting additional downside supports at 109.00 followed by 108.50 levels.