| - The EURUSD is trading above its 100/200 hour moving averages which is bullish, but remains below its 38.2% retracement of the recent move lower - The GBPUSD traded to a new low going back to March 2020, but could not sustain the momentum and is trying to build off of a swing low from yesterday 1.1648 be aware. - The USDJPY move closer to the July high at 139.384 (high reached 139.07), but backed off a bit. - The USDCHF ran away from its 100 day moving average today and toward the swing area between 0.9783 and 0.9801. The question going forward is can the price stay above the 100 day moving average after 5 days where the price traded above and below the level - The USDCAD moved to the highest level since mid July and above a swing area between 1.3074 and 1.3093. Can the price stay above the 1.3074? - The AUDUSD moved up and then tumbling back down. The pair returned to the low from yesterday and into a swing area on the daily chart between 0.6824 and 0.68499. If the price can get below that level would be into the extreme low area for the pair in 2022 - The NZDUSD held resistance against the 200 hour moving average for the 3rd day in the last 4 trading days. That open the door for sellers to enter and push the price below a swing area between 0.6155 and 0.6165. The low price from yesterday remains as a key target at 0.6100. |
Founded in 2008, ForexLive has been the go to source for both professional and retail traders from around the globe. Our core belief is that all traders want relevant and succinct trading information, and we deliver it 24 hours a day.
Tags: Featured,newsletter
