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After lively sessions yesterday, major currency pairs took a breather overnight. Except for, perhaps, USD/JPY which keeps grinding up, in tandem with U.S. treasuries (10's traded 3.13%). The pair is approaching a major resistance, the trendline drawn off of 2015, 2016 and 2017 highs. Broken 110 level and 200 DMA near 110.15 should now act as a firm support.
al_dcdemo's Blog
GBP/USD supported ahead of the U.S. inflation report
U.K. and E.U. were said to be very close to Brexit implementation period deal yesterday, which prompted a 50 pip jump in GBP/USD. The pair is trading right at the January - February trendline. A successful breakout would lead to a retest of 1.40. If U.S. inflation report doesn't deliver today, it will make the job much easier.
EURo trading tight
Despite failure of the weekend Greece-creditors talks, Euro remains well supported in the dips and is currently trading in a tight range between 1.1200 and 1.1250. Where it will go from here it will depend mostly on headlines, but I suspect it won't break into either direction before FOMC meeting on Wednesday.
Stronger support is seen near 1.1050 (June 5th low, 50 and 100 DMA), while the weekly trendline resistance shall be found between 1.12 and 1.13.
Stronger support is seen near 1.1050 (June 5th low, 50 and 100 DMA), while the weekly trendline resistance shall be found between 1.12 and 1.13.