In the kickstart video for June 21, I take a look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the targets are for each.
The EURUSD corrected up to tested 61.8% retracement of the move up from the April low at 1.07208, found willing sellers and pushed down toward the low price from last week at 1.06668 where buyers leaned. Bias remains to the downside below 1.07208 and 1.07346.
USDJPY traded to a new high and further away from the old high ceiling from June 14 and June 18 respectively in the 158.25. Staying above that level is more bullish going forward.
The GBPUSD corrected higher in the early European session, but fell short of the old floor area between 1.26748 and 1.26858 (now a topside risk/bias level). The price move down to test and break it 100 day moving average of 1.26386, but is trading above and below that level as the market digests the next move.
This article was written by Greg Michalowski at www.forexlive.com.
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