The USD vs the 3 major currencies is mixed to start the training week in the US session.
The EURUSD is back below eight 200-day moving average is 1.08420. That tilts the overall bias to the downside. The price is trading within a swing area between 1.0803 and 1.0824. If that swing area is broken, the 50% midpoint of the move-up from the October low comes at 1.07936 followed by the 100-day moving average 1.07714
The USDJPY has been mired within a up-and-down trading range over the last few trading weeks. The price today is lower but is rebounding after breaking below its 100-hour moving average of 147.809, but not being able to reach it 100-day moving average 147.578. The price is currently trading above its 200-hour moving average 147.919 giving the buyers control. Moving below the cluster of moving averages is required to increase the bias more in favor of the sellers.
The GBPUSD continues its ups and downs. Today, the price has moved back below its 100 and 200-hour moving average it is between 1.2701 and 1.27096. The current price is currently trading at 1.2687. As long as the price remains below the moving averages, the bias remains to the downside. The next target comes in against the 50% midpoint at 1.2662..
This article was written by Greg Michalowski at www.forexlive.com. Source