In this video, I take a technical look at the EURUSD, USDJPY and the GBPUSD.
EURUSD: The EURUSD is moving to a new session lows and in the process moving away from its 100-day moving average of 1.08068. Stay below is more bearish. The price is entering into a swing area between 1.0773 and 1.0789. Below that the lows from last week near 1.07653 would be targeted. Those levels are the lowest levels going back to mid-June
USDJPY: The USDJPY is trained to the highest levels since November 2022. There isn’t a lot of resistance on the daily chart until you get to 148.57. On the downside, old resistance comes in at a swinger between 144.98 and 145.90. The high price from yesterday’s trade at 145.74 would be close support.
GBPUSD: The GBPUSD is trading to a new session low as dollar buying pushes the pair lower. Technically, the high price today stalled ahead of its 100-day moving average at 1.26422. It also stalled against the falling 100-hour moving average. The prices trading back below a swing area on the 4-hour chart between 1.2590 and 1.26238.
This article was written by Greg Michalowski at www.forexlive.com. Source