EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 7 pips higher from its open whilst trading a 60 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. EURUSD has corrected down to the 8 period moving averages value area and has since bounce higher off this level. The initial target for any such move higher being the 25th October swing high pivot at 1.3832. However a failure to hold this key support area could see EURUSD move lower to the upward sloping trend line.
Focus on today
This morning’s EURUSD is trading within the previous day’s range and within a 15 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3763 to 1.3811 congestion area.
AS EURUSD is trading within the 1.3763/1.3811 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively EURUSD could continue to trade between the 1.3763 to 1.3811 levels for the rest of the session.
Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811.
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 30 pips lower from its open whilst trading a 121 pip range.
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’s GBPUSD is trading above the previous day’s low and within a 24 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading just above the 1.6213 to 1.6283 congestion area.
AS GBPUSD is trading within the 1.6213/1.6283 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively GBPUSD could continue to trade between the 1.6213 to 1.6283 levels for the rest of the session.
Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY close 36 pips lower from its open whilst trading a 62 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.
Focus on today
This morning’s USDJPY is trading within the previous day’s range and within a 39 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.43/103.92 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 and 103.43/103.92 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 USDJPY trades in between the 102.35 to 103.43 levels for the rest of the day.
Key intraday levels
USDJPY: 102.00, 102.35, 103.43, 103.92.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF closed 25 pips lower from its open price pips whilst trading a 63 pip range.
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 an end of a corrective up move followed by a rejection of the 8 period moving averages and a resumption of the down trend.
Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 10 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8831 to 0.8869 price congestion zone.
AS USDCHF is trading within the 0.8831/0.8869 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively USDCHF could continue to trade between the 0.8831 to 0.8869 levels for the rest of the session.
Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.