EURUSD

EURUSD traded almost unchanged today at 1.0800 after it fell below 1.08, the lowest since early August. USD strength continued, USD index traded at 104.15, the highest in three months as the US economy remains robust the Fed is unlikely to be aggressive in lowering the rates later this year. Consumer confidence from EZ ECBs President Lagarde speech will be due later today. This currency pair continued breaking the support levels, it seems that the last one will be executed as well with 60 bearish traders. Technical patterns still show further weakness.

USDJPY

USDJPY kept advancing for three consecutive days, traded higher today at 151.96, the highest since July 302024. All markets participants asked, will BoJ intervene again? or is BoJ going to raise the rates to stop the excessive Yen weakness. As long as the US bond yields remain elevated, Yen weakness may continue and carry trade will intensify.

The last major resistance was executed . 1H RSI is overbought at 83, but bullish price action continued size of the hourly candles . According to the market forecast poll, 75 of the traders remain bullish. Beware of the aggressive volatility probable BoJ intervention.

GBPUSD

GBPUSD was little changed today at 1.2988, amid tight trading. As the UK calendar offers no major economic releases, BoEs governor Bailys speech later today will be the most important event for GBP traders. In the meantime, USD strength remained intact, GBPUSD is still down by 3 in a…