Rev up Your FX Trading Day: A Technical Analysis of EUR/USD, USD/JPY, and GBP/USD for June 21st
Description:
In the kickstart video for June 21, I take a look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the targets are for each. The EURUSD corrected up to tested 61.8% retracement of the move up from the April low at 1.07208, found willing sellers and pushed down toward the low price from last week at 1.06668 where buyers leaned. Bias remains to the downside below 1.07208 and 1.07346. USDJPY traded to a new high and further away…
EUR/USD Analysis:
The EUR/USD pair corrected up to the 61.8% retracement level from the April low at 1.07208, where it encountered selling pressure. The pair then dipped towards the low price from last week at 1.06668, which attracted buyers. The bias for the EUR/USD remains to the downside as long as it stays below 1.07208 and 1.07346.
USD/JPY Analysis:
USD/JPY traded to a new high and moved further away…
GBP/USD Analysis:
Stay tuned for more updates on the GBP/USD pair…
How Will This Affect Me?
As a trader, this technical analysis provides valuable insights into the potential movements of the EUR/USD, USD/JPY, and GBP/USD pairs. Understanding the bias, risks, and targets can help you make informed trading decisions and manage your positions effectively.
How Will This Affect the World?
The fluctuations in major currency pairs like EUR/USD, USD/JPY, and GBP/USD can have ripple effects on global markets, impacting trade, investments, and economic policies. By staying informed about these technical analyses, investors and policymakers can better navigate the ever-changing landscape of the foreign exchange market.
Conclusion
In conclusion, the technical analysis of EUR/USD, USD/JPY, and GBP/USD for June 21st provides valuable insights for traders and stakeholders in the financial markets. By understanding the biases, risks, and targets of these major currency pairs, individuals can make informed decisions to optimize their trading strategies and stay ahead of market trends.
