EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 24 pips higher from its open whilst trading a 63 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.
However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.
Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 24 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3755 to 1.3795 resistance zone.
AS EURUSD is trading within 1.3755/1.3795 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.
Key intraday levels
EURUSD: 1.3520 1.3565, 1.3755, 1.3795
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 16 pips higher from its open whilst trading a 48 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.
Focus on today
This morning’s GBPUSD is trading beneath the previous day’s high and within a 24 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading within the 1.6445 to 1.6365 resistance zone.
AS GBPUSD is trading within 1.6445/1.6365 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.
Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6365, 1.6445.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY close 44 pips lower from its open whilst trading an 83 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 beneath the previous day’s high and within a 53 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 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 between the 102.35 to 103.05 levels for the rest of the day.
Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF close 30 pips lower from its open whilst trading a 57 pip range.
Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.
Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 20 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8850 to 0.8910 resistance zone.
AS USDCHF is trading within 0.8850/0.8910 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.
Key intraday levels
USDCHF: 0.8850, 0.8910, 0.9080, 0.9110