Kickstart the trading day for Sept 17 w/a technical look at the EURUSD, USDJPY & GBPUSD

I show You how To Make Huge Profits In A Short Time With Cryptos!

Kickstart the FX trading day for September 17 with a technical look at the EURUSD, USDJPY and GBPUSD. Included today is a bonus look at the USDCAD after Canada released lower-than-expected CPI data, and the US reported better-than-expected retail sales data.

The EURUSD has moved down and away from a swing area between 1.1131 and 1.11399. It would take a move back above that level to increase the bullish bias in the short term at least. On the downside, there is support between 1.1097 and 1.1104.

The USDJPY is higher but remains below its 100-hour moving average of 141.236. The Asian session high stall ahead of that moving average line, and so far the price rise after the retail sales is staying below it too. Watch for support at 140.714.

The GBPUSD at session highs today stalled against a targeted swing level between 1.3221 and 1.3230. The ability to move above that level puts a ceiling in place for the time being at least and promotes a rotation lower with 1.3178 followed by the 100-bar moving average on a 4-hour chart at 1.31465 as targets.

The Canada CPI data was lower than expected with headline year-on-year at 2.0% versus 2.2% expected. The price time moved up to a swing area between 1.3615 and 1.3622. The following 200 bar moving average on a 4-hour chart comes in at 1.3623 and the 38.2% retracement of the move down from the August high comes in at 1.3633. All of those levels need to be broken to increase the bullish bias. On the downside look for support against the 200-day moving average of 1.35889. I would expect buyers against that level in the 100-hour moving average of 1.35825 to stall any fall. Moving below would have traders scratching their heads.

This article was written by Greg Michalowski at www.forexlive.com.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *