EURUSD is off low but still bearish. USDJPY is below 100/200D MAs. GBPUSD bearish tilt
EURUSD: The EURUSD gapped marginally lower (in relation to the previous week) as tariff fear continue to increase inflation fears, However, prices rebounded higher only to find resistance sellers within a swing area between 1.0330 and 1.0343. The 38.2% retracement of the move down from January 24 high is also in play at 1.03329. Staying below that swing area keeps the sellers more control today and going forward.USDJPY: The USDJPY fell below its important 100 and 200 day moving averages which are near converged at 152.70 today. Going forward, staying below those two moving averages keeps the sellers more in control. The current prices trading at 151.80. The low price on Friday bottom that 150.92 on two separate tests. Getting below that double bottom is needed to increase the bearish bias. A closer target comes in at 151.498. That level represents the 38.2% retracement of the move up from the 2024 low to the January 2025 high.GBPUSD: The GBPUSD is trading below its 50% midpoint of the move down from the December high to the January low at 1.2453, it's 100 hour moving average of 1.2449 and its 200 hour moving average at 1.24272. That area between 1.2427 and 1.2453 is topside resistance and would need to be broken to tilt the technical bias more to the upside today and going forward. On the downside there is a swing area between 1.2351 and 1.2376 that did hold support on Thursday and Friday and again today. Buyers and sellers are battling off between the two areas. Traders are looking for the next shove. This article was written by Greg Michalowski at www.forexlive.com.
EURUSD: The EURUSD gapped marginally lower (in relation to the previous week) as tariff fear continue to increase inflation fears, However, prices rebounded higher only to find resistance sellers within a swing area between 1.0330 and 1.0343. The 38.2% retracement of the move down from January 24 high is also in play at 1.03329. Staying below that swing area keeps the sellers more control today and going forward.
USDJPY: The USDJPY fell below its important 100 and 200 day moving averages which are near converged at 152.70 today. Going forward, staying below those two moving averages keeps the sellers more in control. The current prices trading at 151.80. The low price on Friday bottom that 150.92 on two separate tests. Getting below that double bottom is needed to increase the bearish bias. A closer target comes in at 151.498. That level represents the 38.2% retracement of the move up from the 2024 low to the January 2025 high.
GBPUSD: The GBPUSD is trading below its 50% midpoint of the move down from the December high to the January low at 1.2453, it's 100 hour moving average of 1.2449 and its 200 hour moving average at 1.24272. That area between 1.2427 and 1.2453 is topside resistance and would need to be broken to tilt the technical bias more to the upside today and going forward. On the downside there is a swing area between 1.2351 and 1.2376 that did hold support on Thursday and Friday and again today. Buyers and sellers are battling off between the two areas. Traders are looking for the next shove. This article was written by Greg Michalowski at www.forexlive.com.
