EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 23 pips lower from its open whilst trading a 42 pip range.
Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Yesterday EURUSD experienced a strong downside corrective mover that has taken it beyond trend line resistance. I am monitoring a potential move to the 34 period moving averages. Alternatively if EURUSD trade back above the 8 period moving averages could lead to a move to the 25th October swing high pivot at 1.3832.
Focus on today
This morning EURUSD is trading below the previous day’s low and within a 30 pip early morning Tokyo session range.
Furthermore currently EURUSD is also trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas.
AS EURUSD is trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that EURUSD trades in between the 1.3565 to 1.3763 levels for the rest of the day.
Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811.
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 5 pips lower from its open whilst trading a 62 pip range.
Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.
Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 40 pip early morning Tokyo session range.
Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas.
AS GBPUSD is trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that GBPUSD trades in between the 1.6283 to 1.6419 levels for the rest of the day.
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Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 5 pips higher from its open whilst trading a 58 pip range.
Market overview
The price action continues to have a positive daily swing bias with the price action having completed its correction down to the 8 period moving averages and bounced higher.
Focus on today
This morning USDJPYis trading above the previous day’s high and within a 36 pip early morning Tokyo session range.
Furthermore currently USDJPY has this morning trading above the previous day range high of 103.97 to 104.36.
AS USDJPY is trading just above the 103.97 to 104.36 congestion range, I am monitoring the potential for the price action to continue with the upside momentum.
Alternatively USDJPY could continue to trade within the 103.97 to 104.36 area for the rest of the session.
Key intraday levels
USDJPY: 102.00, 102.35, 103.97, 104.36.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 39 pips higher from its open whilst trading a 52 pip range.
Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.
Focus on today
This morning USDCHF is trading above the previous day’s high and within a 20 pip early morning Tokyo session range.
Furthermore currently USDCHF is also trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas.
AS USDCHF is trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that USDCHF trades in between the 0.8869 to 0.9080 levels for the rest of the day.
Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.