In the opening video for August 9, I take a look at three major currency pairs, EURUSD, USDJPY, and GBPUSD from a technical perspective.
For the EUR/USD pair, the pair is trading up and down during today’s trading, but has found resistance from sellers against its 100-hour moving average at 1.09283. This remains enough to hold resistance on the upside. On the downside, nearby support comes near Tuesday’s and Wednesday’s lows at 1.09029, followed by the 50% midpoint of the move up from the August lows at 1.08922 and its 200-hour moving average at 1.08817.
The USD/JPY pair moved above its 100-hour moving average at 145.957 yesterday, but remains below its 200-hour moving average at 147.857. The price is trading between these two levels at 146.72 as buyers and sellers compete for the next control bias. However, sellers are still more in control below its 200-hour moving average.
GBP/USD is fighting a battle of its own with the support set by the 200-day moving average, 50% retracement, and 100-day moving average between 1.2657 and 1.2684 holding support this week. On the upside, the 1.2754-1.2777 swing zone held resistance on today’s bounce higher. These levels define and define the range of the pair.
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