The kickstart video takes a look at three the major currency pairs – the EURUSD, USDJPY and GBPUSD – at the start of the North American session.
- The EURUSD is moving lower and is testing a key swing area between 1.0722 and 1.07346 at the start of the North American session. That level will be the key barometer for today and going forward. If support holds, the buyers can probe the upside with the 200 day moving average as a target at 1.07852. Moving below opened the door for further downside momentum.
- The USDJPY extended up to a swing area between 157.40 and 157.464. Sellers leaned against the hearing and push the price back down. There is support near 156.52 – 156.57, followed by the 100 and 200-hour moving averages near 156.40.
- While the EURUSD is moving lower, the GBPUSD is moving higher despite what was weaker jobs data. The price is trading back above its 100 bar moving average on the 4-hour chart at 1.2741. Above that, the converged 100 and 200 hour moving out is coming near 1.2755.
Find out all about it in the above video.
This article was written by Greg Michalowski at www.forexlive.com. Source