Forex majors daily view

A bit of a daily chart overview here.

I like to share charts with daily support/resistance zones that price is nearing or has reacted off. It's these charts at significant price junctions, that I like to call 'in play'.

You'll see there are a few charts that are considered in play below, first up starting with EUR/USD:

I shared my thoughts on EUR/USD yesterday, with the pair coiling into that little triangle you can see above.

It's the upper, descending trend line that price has most recently rejected off and it seems that we're going to probably head into the ECB tomorrow all coiled up.

I like this.

Moving onto GBP/USD:

While both cable and the euro are moving pretty in step with another, we don't really have that coiling price action here.

The chart has simply bounced off support, but needs to do some technical damage to the bearish trend before we can get too excited.

I wouldn't call this support level as having 'held' just quite yet.

Onto the Aussie:

With CPI seemingly not doing a lot in terms of shifting the RBA's focus, the technical downtrend is probably free to resume here.

How nice are these constant breaks of support, followed by retests to resume the trend down.

With price coming out of a retest of previous support as resistance right now, this is another that's certainly in play.

Finally a quick look at USD/JPY:

USD/JPY is another market that I did a focus on yesterday, talking about this trend line retest with a confluence of horizontal resistance turned support.

Just like I said above with cable, this one hasn't held until it holds and I can easily see this zone getting destroyed to the downside as more BOJ and Trump headline news floods through in the coming days.