What is in play as we head into the new trading day

EURUSD

The EURUSD today moved higher in the 1st half of the day, and that took the price above the 100 hour MA for the first time since October 10th. The price move also extended above a topside trend line on the hourly chart. That move failed in the North American session and the price spent all of the NA session below that MA level (currently at 1.1007 and moving lower). In the early NY afternoon, there was a spurt to the upside that saw the price move back toward the 1.1000 area and the close from yesterday at 1.0998. The high stalled at 1.0997. The pair is moving back toward the low into the close.

The next targets on the downside (stay below 1.1000 and the 100 hour MA at 1.1007) will look toward 1.0963, the 1.09508 low from July and the 1.0909 low from June. A move below that will look toward 1.0777-1.0833 area.

USDJPY

The market has had more failed breaks than breaks that run of late. The EURUSD had one on the chart above, and so did the USDJPY at the low today. The price fell below the 200 hour MA and a trend line at the same level. That should lead to further selling. Not in this market. The price moved back above the level and wandered back higher. Now that "failure" has not really motored back higher - we remain below the 100 hour MA (blue line in the USDJPY chart above), but it sets the support level into the new day. Stay above the 200 hour MA/trend line (green line) and we will look for a break above the 100 hour MA above (blue line) for proof the buyers are in control.

GBPUSD

Is the GBPUSD the next pair that is on the verge of failing? This pair moved above it's 200 hour MA for the first time since September 30th. The price moved to a ceiling area at 1.2337 area and stalled. The move back down has the pair trading near the 200 hour MA line again. Will it fail in the new day or march back higher?

USDCHF

Speaking of failing...The USDCHF failed at the lows and the high today. At the low a trend line was broken and that move failed. Then at the highs, the price moved above a ceiling at highs from last week, and Monday. The fall from the peak, moved to the 100 hour MA and found support buyers. So we start the new day above the 100 hour MA, but below the recent highs.