In the kickstart video for March 20, 2024, I take a look at the three major currency pairs from a technical perspective.
The EURUSD is moving lower and in the process is testing it 200 day moving average at 1.0837. Recall from yesterday, the price also tested that moving average before bouncing higher.
The USDJPY extended above 2024 highs and has raced up to test the 2022 and 2023 highs at 151.91 and 151.94. The high price has gotten with 15-18 pips of those high levels which if broken would take the price to the highest level since 1990.
The GBPUSD stalled at the 100 bar MA on the 4 hour chart at session highs today at 1.2730 and rotated lower. THe 200 bar moving average on the 4-hour chart at 1.2672 is the next target. Yesterday the price briefly moved below that moving average before bouncing back prior and stalling near the aforementioned 100 bar moving average on the 4-hour.
This article was written by Greg Michalowski at www.forexlive.com. Source