Currencies Update

Currencies Update

EURUSD

The Euro weakened against the US Dollar in the New York session yesterday, closing 0.12% lower at 1.1401.

At GMT0500, the Euro is trading at 1.1405 against the US Dollar, 0.04% higher from the New York close.

The Euro hit a high of 1.1418 and a low of 1.1383 against the US Dollar in the New York session.

The pair is expected to find its first support at 1.1365 and first resistance at 1.1450. The second support is expected at 1.1326 and second resistance at 1.1496.

The pair is likely to cross the 8H 20SMA from below, hinting at bullish momentum in the near term.

GBPUSD

In the New York session yesterday, the Pound weakened 0.04% against the US Dollar to close at 1.2943.

The pair is trading at 1.2958 at GMT0500 in the Asian session, with the Pound trading 0.12% higher against US Dollar from  the New York close.

The pair witnessed a high of 1.2949 and a low of 1.2912 in the New York session.

Immediate downside, the first support level is seen at 1.2916, followed by 1.2873, while on the upside, the first resistance level situated in 1.2981, followed by 1.3003.

A bullish signal is triggered as price has crossed above its short term SMA from below.

USDJPY

The USD traded 0.02% lower against the JPY in the New York session yesterday, with the pair closing the session at 113.28.

The pair is trading at 113.45 at GMT0500 in the Asian session, with the US Dollar trading 0.15% higher against Yen from the New York close.

In the New York session, the pair traded at a high of 113.47 and a low of 113.18.

The pair is expected to find its first support at 113.03 and first resistance at 113.73. The second support is expected at 112.60 and second resistance at 114.00.

The Moving Average of Commodities Channel Indicator (CCI) has crossed 100 from above hinting that the upside might remain limited.

EUR GBP

Yesterday, the Euro traded 0.08% lower against the Sterling in the New York session and ended at 0.8809.

In the Asian session, at GMT0500, the pair is trading at 0.8801, with the Euro trading 0.09% lower against Sterling from the New York close.

The pair witnessed a high of 0.8820 and a low of 0.8808 in the New York session.

The pair is expected to find its first support at 0.8780 and first resistance at 0.8847. The second support is expected at 0.8760 and second resistance at 0.8892.

Signal line crossover from above by the daily MACD, hints at negative momentum in the coming session.

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The CityTA

The CityTA was started with a desire to help new traders succeed in markets dominated by high frequency traders and other market dangers. Our instructors' objective is to bring this diverse knowledge to you. Our training programs are designed to accommodate easy learning for people who have never experienced financial markets. Financial markets have become more complex over the past 10 years. A grasp of market mechanics is important if a trader is to survive. Our focus for our students is to ensure that we give them the correct foundation, so they can develop their own strategy and build on the knowledge they gain to go on to be top performing traders.