FX Majors Overview
Matt Simpson | Jan 02, 2019 10:30
To kick off the new year we take a look at the daily charts of EUR/USD, USD/JPY and USD/CAD.
EUR/USD Daily
- 1.15 is the core focus for traders over the near-term.
- A series of higher lows within the 1.1216 – 1.1500 range suggests bullish pressure is building.
- Today has seen an intraday break above the 100-day MA. A clear break of 1.1500 brings the 1.1622 high into focus.
USD/JPY Daily
- Bearish momentum has dominated since breaking its May trendline.
- While the trend remains bearish beneath 111.41, we can look for prices retrace or consolidate below 109.77 before its next leg lower.
- Next major support (and target for bears) is the May low at 108.11.
USD/CAD Daily
- The trend is retracing from its highs within a bullish channel.
- Look for prices to consolidate above the June ’17 (1.3547) before bulls have a crack the May ’17 high (1.3793).
- A break of support warns of a deeper correction within the channel.
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