The London open
Currency pair: EURUSD
Time frame: Intraday: 1 hour
Trend: Down
Outlook: Price action trading lower and away from the negatively layered moving averages and this morning has already tested R1.
Probable scenario: Short beneath 1.3450
Alternate scenario: Long above 1.3464
Intraday levels: Open: 1.3462, R1 1.3484, R2 1.3506, S1 1.3440, S2 1.3418
Currency pair: GBPUSD
Time frame: Intraday: 1 hour
Trend: Down
Outlook: The price action is trading back into the negatively layered moving averages.
Probable scenario: Short beneath 1.7023
Alternate scenario: Long above 1.7051
Intraday levels: Open: 1.7042, R1 1.7074, R2 1.7106, S1 1.7010, S2 1.6978
Currency pair: USDJPY
Time frame: Intraday: 1 hour
Trend: Up
Outlook: Price action trading back into positively layered moving averages.
Probable scenario: Long above 101.58
Alternate scenario: Short beneath 101.45
Intraday levels: Open: 101.48, R1 101.64, R2 101.80, S1 101.31, S2 101.16
Currency pair: USDCHF
Time frame: Intraday: 1 hour
Trend: Up
Price action: Price action trading back into positively layered moving averages.
Probable scenario: Long above 0.9031
Alternate scenario: Short beneath 0.9020
Intraday levels: Open: 0.9022, R1 0.9037, R2 0.9053, S1 0.9006, S2 0.8991