Tomorrow US traders are off
The EURUSD is keeping the sellers in charge. The correction off the low stalls at resistance area. As long as the price stays below, the shorts remain in control. A move above, muddies the water.
The GBPUSD? Well this is the picture intraday for it.. That is not a comforting picture for traders looking for a trend type move. 100 and 200 MA converged and going sideways. Traders looking for a catalyst to send the pair either higher or lower. Not following the EURUSD more bearish path. EURGBP moving lower is helping to keep the pair confined and more supported.
The USDJPY us trading in a narrow 41 pips trading range. THe price is higher on the day, the high is below the high from yesterday, the low is above the low from yesterday. The gains from Friday are holding, but stalled at the moment. Like GBPUSD, patiently waiting for a clue - a push.
The AUDUSD rallied into the London morning session, then fell in the NY morning session. The price low fell to the lows from the 1st hour of trading yesterday. The 38.2% of the move lower held resistance on the correction most recently - keeping the sellers in control.
The USDCAD is looking like the USDJPY. It is holiding gains from Friday's employment day. It is holding the 38.2% retracement, but has lower highs and going sideways. A move below the 1.3249 will be eyed now. Stay above, ok. Move below and buyers may lose some interest.
