EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 84 pips lower from its open whilst trading a 138 pip range.
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’s EURUSD is trading below the previous day’s low and within a 44 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 and 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 127 pips higher from its open whilst trading a 222 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 within the previous day’s range within a 27 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to1.6419/1.6466 price congestion areas.
AS GBPUSD is trading between the 1.6213/1.6283 to1.6419/1.6466 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.
Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY close 163 pips higher from its open whilst trading a 181 pip range.
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’s USDJPY is trading within the previous day’s range and within a 44 pip early morning Tokyo session range. Furthermore currently USDJPY has this morning broken down from its 103.97/104.36 morning range high.
AS USDJPY is trading just beneath the 103.97/104.36 congestion range, I am monitoring the potential for the price action to continue with the downside momentum.
Alternatively USDJPY could continue to trade back into the 103.97/104.36 area and stay here for between 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 closed 90 pips higher from its open price pips whilst trading a 103 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 a corrective move up to trend line resistance.
Focus on today
This morning’s USDCHF is trading above the previous day’s high and within a 27 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 0.9080/0.91101 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 0.980 levels for the rest of the day.
Furthermore currently USDCHF is also trading within the 0.8831 to 0.8869 price congestion zone.
Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.