The Morning Forex Technical report for September 1, 2022

The morning forex report will outline the key technicals for some of the major currencies vs the USD

• EURUSD: The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term is back down after testing its 38.2% retracement level yesterday and finding willing sellers. The today the price is knocking on the 200 hour moving average at 0.99829. A move below should increase the bearish bias. Key level to start the North American session
• USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term: The USDJPY reached a new multi-decade high
• GBPUSD: The GBPUSD reached another new low going back to the March Covid lockdowns period. The RSI is the version which gives a secondary trading clue, but there are levels to get above before traders can call the bottom
• USDCHF: The USDCHF moved above a swing area between 0.9807 and 0.98166, but is running into some selling.
• AUDUSD: The AUDUSD traded to a new cycle low breaking the lows from yesterday at 0.6840. The low price reached 0.67914 before bouncing back higher. If the price can get above the 0.6840, the buyers may see further upside corrective action. Absent that and the sellers remain in control.