The forex markets are mostly consolidating as the new trading week begins

The forex market is mostly consolidating as the new trading week begins. In the morning forex report, I take a look at the EURUSD, USDJPY, GBPUSD and USDCAD to kickstart the technical look for the day. The EURUSD is making a run to the upside and back above its 100 hour MA at 1.08849. Can it stay above.

For the USDJPY, GBPUSD, and USDCAD, the price action is mostly up and down with technical levels helping to define the range.

In early trading the US stocks are lower.

This week is full of fundamental news with Fed, ECB and BOE all meeting and expecting to raise rates. The Eurozone flash CPI and US employment numbers will be released along with a bunch of earnings in the US as well.