In this video take a look at the 3 major currency pairs to kickstart your trading day in the North American session:
- EURUSD: The EURUSD is moving above its 100 and 200 hour moving averages at 1.06859 and 1.07044, tilting the short-term bias more to the upside. Stay above is more bullish. Move below would be a disappointment for the buyers on the breaks.
- USDJPY: The USDJPY move down to test its 100 hour moving average both in the Asian and London/European session. That moving average comes in at 147.549. The price is currently trading at 147.673. Stay above the 100 hour moving average keeps the buyers and control. Move below and the 200 hour moving average at 147.299 would be targeted.
- GBPUSD: The GBPUSD is trading at new day highs at the start of the North American session and in the process is testing its 100 hour moving average at 1.2421. Above that is the 200 day moving average at 1.2434, and the 200 hour moving average at 1.24548. Although the price has traded above its 100 hour moving average and the month of September, it has not traded above its 200 hour moving average yet. Getting above all those moving averages is needed to increase the bullish bias going forward.
This article was written by Greg Michalowski at www.forexlive.com. Source