Holiday on Monday
We are a nearly 3 hours into the NA trading session and we are getting those Friday vibes.
The EURUSD fell on the stronger retail sales but held support near the trend line support at 1.1229.. There was another push that took out the lows on headlines of an ECB cut and that was quickly reversed. Michigan consumer sentiment came out weaker but the 100 bar MA held resistance on the 3rd consecutive test. The price is now rotated back to the low 1.1240s
The USDJPY moved above the 113.00 level on it's way to a test of Thursday swing high - and just above the 50% of the move down from Wednesday's peak (at 113.075). Those gains could not be sustained and it too rotated lower. That move took the price to it's 100 bar MA on the downside.
And then there is the GBPUSD. The price moved to high of 1.4569 from a low of 1.4457. The pair did a lap back down to a new low of 1.4447. IN the process, the price fell back below the 200 hour MA at the 1.4488, the 100 hour MA at the 1.4466, the 200 bar MA on the 4-hour chart at 1.4465. . The price is back above the 200 bar MA on 4-hour, the 100 hour MA. It remains below the 200 hour MA at 1.4488.
Friday fixing in 18 minutes. Be prepared. For what exactly, I am not sure.
