www.TheLFB-Forex.com The Forex Trader Portal
Overall, the currency markets saw some more volatility during the Asian session; it is too bad that there was no momentum to push the majors in a single direction. The pairs took off in one direction, then change course and are, for the most part, sitting at break even at the present time.
The euro (EUR/USD) After the dramatic rise during the U.S. session the pair deserves a chance to take a break. The pair is finding support at the 20 day moving average located at 1.4217. The pair has had a few minor fluctuations but nothing like the move seen earlier today.
The pound (GBP/USD) just cannot make up its mind during the Asian session, much like the earlier U.S. session but with slightly muted moves. The pair opened near the current price of 1.6537 and quickly rose to the high of the U.S. session (1.6568) before being rejected and falling to the neutral pivot point at 1.6500 and finding support.
The aussie (AUD/USD) been finding resistance at the 20 day moving average at 0.8314, which is also the high of the previous day, since the start of the Asian session. The pair has been supported just above the neutral pivot point in the 0.8276 area.
The cad (USD/CAD) hit a resistance area at 1.0974. The pair struggled with this area during the U.S. session as well. Meanwhile, support on the 30 minute chart has been found at 1.0937 which also ties in to some previous resistance on the 4 hour chart on July 29th.
The swissy (USD/CHF) bounced off the 1.0624 area, which has come into play several times this summer. The pair then rebounded and has come into some near term resistance at 1.0675. The European session will see the release of the Swiss trade balance and the ZEW economic expectations.
The yen (USD/JPY) has bounced firmly off of the 93.68 level from the U.S. session to trade just above the neutral pivot point at 94.23. The pair has another 55 pips to break the high of the previous day which also corresponds with the 200 day moving average at 94.94.
TeamLFB provides forex related market analysis and trade signals
Take advantage of our New Member Promotions for a limited time!