Some sensitive price action in the forex

The forex Forex Forex, also known as foreign exchange or FX, is the buying and selling of one currency for another. The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. Forex trading can be done through a broker or market maker, and can be done online or over the phone. The vast majority of forex trading is done by businesses buying and selling products along with money managers hedging against currency risk. A portion of the forex m Forex, also known as foreign exchange or FX, is the buying and selling of one currency for another. The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. Forex trading can be done through a broker or market maker, and can be done online or over the phone. The vast majority of forex trading is done by businesses buying and selling products along with money managers hedging against currency risk. A portion of the forex m Read this Term markets are a bit sensitive. It could be a Friday before a holiday weekend? A move lower in rates is helping. Or perhaps Barkin being less hawkish arguing for 25 basis points vs the 50 bp chatter that Mester and Bullard were pulling for yesterday.

Technically, some targets were reached on the dollars rise and that ignited a reversal from buyers to sellers.

• 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: The EURUSD on the daily chart reached the high of a swing area near 1.0615 (the low reached 1.0612). I mentioned this level on further selling in the post yesterday (CLICK HERE). Looking at the hourly chart, the price bounce moved back above the swing low from Monday, Wednesday and yesterday and the swing low from last week. That area comes between 1.0653 and 1.0668. The price is back in that swing area. Can the 1.0653 level now hold support in the short term? If so, it is up to the 100 hour MA at 1.0699 (and moving lower). The 200 hour MA is at 1.07085.

• USDJPY: The USDJPY moved above a swing area on the 4-hour chart between 134.49 and 134.76 today but could not sustain momentum on that break. The price has moved back below that area, making that area resistance again. Traders looking for a move lower now would want to see 134.49 hold resistance now and push below 134.00 with momentum.

• GBPUSD: The GBPUSD moved below the 200 at 1.19397 but could not extend to the 100 day MA below at 1.1892. The price has bounced and moved above the swing lows last week and yesterday near 1.1962 and another swing area between 1.1991 to 1.2010. The price is back in the latter swing area. Can the price stay above 1.1991 and get back and stay above 1.2000? A move below would look toward 1.1962. On the topside, more short covering would look toward the near converged 100/200 hour MA at 1.2072 area.