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The USD is mixed to little changed to start the US trading session. However, given the price action this week, the EURUSD is holding onto some key support. The USDJPY is making a break to the topside putting the buyers in firm control, and the GBPUSD is breaking to the downside, opening the door to more downside potential technically. What levels are key in defining risk, the bias and the targets for those three pairs? I will outline them in the video, so take a look and be prepared.
This article was written by Greg Michalowski at investinglive.com.
💡 DMK Insight
The USD’s mixed performance signals a pivotal moment for currency traders this week. With the EURUSD clinging to key support, traders should watch for any signs of a breakdown or bounce. A failure to hold this level could trigger a wave of selling, while a rebound might attract buyers looking for a short-term rally. Meanwhile, the USDJPY’s upward movement indicates strong bullish sentiment, suggesting that buyers are in control. This could lead to further gains if it breaks through resistance levels. The GBPUSD’s breakout adds another layer of complexity, potentially impacting correlated pairs. Traders should keep an eye on the 1.10 level for the EURUSD and the psychological 150 level for the USDJPY, as these could serve as critical points for decision-making. The real story here is the interplay between these pairs; a shift in one could ripple through the others. If the USD strengthens unexpectedly, it could lead to a broader sell-off in the Euro and Pound, so be prepared for volatility.
📮 Takeaway
Watch the EURUSD at key support levels and the USDJPY around 150; shifts here could signal broader market moves.
