EURUSD
EURUSD traded slightly lower today after it gained by almost 1 yesterday, trading at 1.0784. As USD index gained momentum after Trumps victory, the correction happened yesterday, however maintaining the bullish performance in EUR lacks stronger fundamentals from EZ. EU leaders summit will be held later today.
Technical correction started from the last support, still targeting 1.0780 executed then 1.0840. Momentum is slightly positive now. 1.0745, 1.0715 and 1.0685 are support levels for daytraders.
USDJPY
As the US bond yields remained elevated, correction in USDJPY was somehow limited, trading today at 152.90. Japans leading economic indicator improved in September, and household spending contracted by 1.1, but that was better than the previous estimates of 2.1 decline. Federal Reserve cut the rates by 0.25, was highly expected priced in, thats why this currency pair showed no major change.
According to the trend index, bearish bias continued, however 1H price action shows slow bullish bets, targeting 153.20 then 153.75 as 1H RSI is not far from support level.
GBPUSD
GBPUSD was little changed today at 1.2970 after BoE cut the rates by 0.25, matching the markets forecasts. According to BoE meeting, policy makers wanted gradual easing approach emphasized the need for restrictive monetary policy, in other words BoE is unlikely to be in hurry to cut the rates further. BoE expected inflation to increase from 1.7 to 2.5 by the end of the year….