The London open
EURUSD
Time frame: 1 hour
Trend: Up
Outlook: Moving averages have just turned positive with the price action trending higher.
Probable scenario: Long above 1.3473
Alternate scenario: Short beneath 1.3457
Intraday levels: Open: 1.3463, R1 1.3485, R2 1.3507, S1 1.3441, S2 1.3419
GBPUSD
Time frame: 1 hour
Trend: Down
Outlook: The price action is trading back into the negatively layered moving averages.
Probable scenario: Short beneath 1.6985
Alternate scenario: Long above 1.6993
Intraday levels: Open: 1.6986, R1 1.7019, R2 1.7053, S1 1.6952, S2 1.6919
USDJPY
Time frame: 1 hour
Trend: Up
Outlook: Price action trading back into positively layered moving averages.
Probable scenario: Long above 101.80
Alternate scenario: Short beneath 101.70
Intraday levels: Open: 101.80, R1 101.98, R2 102.15, S1 101.63, S2 101.46
USDCHF
Time frame: 1 hour
Outlook: Neutral
Price action: Moving averages are attempting to turn negative as the rice action moves lower.
Probable scenario: Long above 0.9030
Alternate scenario: Short beneath 0.9007
Intraday levels: Open: 0.9025, R1 0.9040, R2 0.9056, S1 0.9009, S2 0.8994