The kickstart video each day looks at the 3 major currency pairs from a technical perspective. Those 3 pairs include the EURUSD, USDJPY and GBPUSD.
To start the trading week, the price action is mostly up-and-down in those three major currency pairs.
EURUSD: For the EURUSD it initially moved higher but fell short of its resistant target at the 100-day moving average at 1.0904. The high price for the date reached 1.0902, just a couple pips short of that target. The subsequent move to the downside has seen the price action trade above and below its 200 hour movie out to 1.0887. Staying below that level and moving below the low price from Friday near 1.2900 would open the door for a test of the 38.2% retracement of the move up from the June 27 low at 1.28789.
USDJPY: The USDJPY moved lower in the late Asian/curly European session taken the price down to a low price of 156.338. The subsequent rally extended up to 156.81. Technically, the move lower today did move away from its falling 100 hour moving average at 157.204. That will be a key barometer for buyers and sellers going forward. Stay below keeps the sellers more in control. On the downside watch 156.57 area for support. If the price can break below, that should lead to further downside momentum.
GBPUSD: The .
This article was written by Greg Michalowski at www.forexlive.com. Source