EURUSD, USDJPY & GBPUSD Review November 1

EURUSD, USDJPY & GBPUSD Review November 1

The US jobs report has come and gone, with hurricanes and strikes influencing the number. We have examined and explained the significance of the main technical levels that are active for the EURUSD, USDJPY, and GBPUSD in this post. The USD is down, but will it stay that way? Learn more below.

EURUSD: The EURUSD gained strength, surpassing the 200-day MA and swing region around 1.0870, which is currently acting as support. A more optimistic perspective is indicated if this level is maintained. The weekly high at 1.0888 and the 50% retracement of the range since April at 1.09069 are important resistance levels. The 200-day MA is still crucial for long-term upward momentum.

USDJPY: Between 151.85 and 151.93, the USDJPY tested the swing region. The 200-day MA at 151.53, the 50% retracement at 150.75, and the 100-day MA at 150.405 would all come into play if the market moved below this region. These levels must be broken and maintained below in order for sellers to recover medium- and long-term dominance.

GBPUSD: Maintaining support above this level is crucial for short-term positive control. The GBPUSD climbed above the important swing point around 1.2938. To reinforce the bullish bias, the 100-day MA at 1.29784 is the next objective, which must be broken and held. Above that, the 1.3000 level is a crucial level to monitor today and moving forward since it acts as a psychological resistance as well as a convergence zone with the 100-bar MA on the 4-hour chart and the 38.2% retracement since April.

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