In the June 21 kickoff video, I look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the objectives are for each.
EURUSD corrected higher to test a 61.8% retracement of the up move from the April low at 1.07208, found willing sellers and pushed towards the low from last week at 1.06668 as buyers turned in. The downward bias remains below 1.07208 and 1.07346.
USDJPY traded to a new high and away from the old high ceilings from June 14 and June 18 respectively at 158.25. Staying above this level is more optimistic for the future.
GBPUSD corrected higher at the start of the European trading day, but did not reach the old floor area between 1.26748 and 1.26858 (now the upper risk/bias level). The price moved down to test and break the 100-day moving average at 1.26386, but is trading above and below that level as the market digests the next move.