A quick look around the market.... 

The EURUSD has moved to session highs, extending above the 1.1465 level in the process (see prior post).  That is more bullish for the pair as we head toward the close for the week.

The GBPUSD has been consolidating over the last few hours since peaking at 1.30926. The current price is back up to 1.3087 after dipping to 1.3070 on the small correction.  The next targets include:

  • 1.3100. Natural level
  • 1.31207. High from September 22, 2016. 
  • 1.3143. Retracement level/trend line connecting the highs from December 7, 2016 and May 18, 2017. 

The USDCAD is trading below the June 2016 low at 1.2654. The low just reached 1.2646. The price currently trades at 1.2651.

The USDJPYs correction off the low, moved up to 112.72. The low of the floor and the 100 bar MA on the 4-hour comes in at 1.1279-81. The resistance was sniffed but not really tested. Sellers more in control with the price currently trading at 112.52.