There’s a few levels playing hardball as the dollar suffers more weakness
I’ll just throw up the numbers rather than spend the extra time it takes to grab and post the charts.
GBPUSD is up at 1.3175/80, which has been a relatively strong level protecting 1.3200 this month. Above there, 1.3200 hasn’t really been that strong but 1.3220/30 has been. Minor support is showing at 1.3170 now but is stronger at 1.3120/30. And, as I type, we move through 1.3180 to 1.3196, so we’ll get to see what 1.3200 offers
EURUSD is testing the 1.1830 area I wrote about yesterday. Again, it’s one of those levels that has seen some action at the end of a fairly sizeable and relatively quick move. A stronger area is up around 1.1860/70. 1.1875/80 was the Oct highs, which sit under the 61.8 fib of the Sep drop.
I’ve been getting increasingly bearish about USDJPY and now we’re under 113.00, we could see a decent push lower. Our old friend 112.50 will probably have a say in things so keep an eye there. Resistance should be coming in at 113.00, and there’s already some at 113.20/25.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
- The last NFP competition of 2022 - December 1, 2022
- Will this month’s US NFP be a horror show? - October 4, 2022
- US NFP competition – Do you think there’s going to be a turn in the US jobs market? - August 31, 2022