EURUSD

EURUSD traded slightly weaker today at 1.0809 amid tight volatility. This currency pair is unlikely to have stronger volatility before Wednesday with more economic numbers from EZ. In the meantime, weaker rates by ECB were already priced in, not to forget that the demand for USD remained robust. MoM, EURUSD fell by almost 3, vs 3.5 gains in USD index. 

The forecast poll indicated to more than 80 who were bearish, supported by bearish trend index in 1H chart. Price action remained slow, likely to remain between 1.0780 1.0840 for now.

USDJPY

Unemployment in Japan dropped further to 2.4 in September from 2.5 in August, better than the estimates as well. USDJPY fell today by 0.20 to 152.83, waiting for busy week ahead from both, the US Japan. As the major ruling party lost their parliamentary majority, the political instability is unlikely to happen in a country like Japan, however changing the economic policies if happens will have consequences on the Yen. 

Price action started falling, targeting 152.50 then 151.75 with almost 40 in bearish bias only 20 bullish.

GBPUSD

GBPUSD was little changed today at 1.2962. BoE was not in hurry to cut the rates, but BoE governor expressed his concerns about the sticky inflation in many sectors, mainly in services. Consumer credit mortgage approvals in the UK will be due later today, the markets are likely to focus more on the US numbers that include consumer confidence housing price index. 

The technical bias…