Technical Analysis

Ups and downs are the foreign exchange theme for right now

Merchants are mixing the shopping for and promoting.

The theme in buying and selling right now is what goes up (down) should come down (go up).  

Traders are mixing the buying and selling.

The EURUSD fell into the early a part of the Draghi presser. The autumn took the worth beneath development traces within the course of. Nonetheless, the low stalled on the Jan three low, and the worth moved again greater.   The run took the worth above the 100 hour MA at 1.1367, however stalled forward of the day’s highs and has since moved again decrease (and again beneath the 100 hour MA – blue line).  We at present commerce at 1.1348 with a decrease development line at 1.1333. The low from Tuesday got here in at 1.13355. 

USDJPY moving up and down and up again today.

The USDJPY moved greater earlier and moved again down within the NA session. The low within the NA session stalled between the newest lows (from earlier right now and yesterday). The transfer greater off the low, is stalling close to the shut from yesterday at 109.60 and the 100 hour MA at 109.576.  Up or down from this space?

 

GBPUSD more down but still have decent corrective moves higher.

The GBPUSD has been extra corrective in buying and selling right now after the squeeze greater yesterday. Nonetheless now we have seen a some corrective strikes within the value motion right now.  Trying on the 5 minute chart, every transfer has been capable of stall on the 200 bar MA on the 5-minute chart. That not less than, provides merchants a reference for intraday bias. Keep beneath is extra bearish. Transfer above is extra bullish.

USDCAD trades near unchanged after run higher and then back down.

For the USDCAD, the worth moved greater earlier after which decrease into the NA session. That low stalled at a decrease development line and the worth has moved greater. The pair is buying and selling close to the shut at 1.3341.


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