Widening it’s lead among the majors.
Traders to continue to run the dollar higher after the stronger than expected US jobs report. Some technical looks at the majors
EURUSD: The EURUSD is trading to a new low at 1.1765. The next targets come in at the July 26 low at 1.17626. Below that and traders will start to look toward the swing lows from July 20 to July 23 between 1.17512 and 1.17566. A move below those levels will have traders looking toward the 2021 low price of at 1.17041. The 38.2% retracement of the move up from the March 2020 low comes in at 1.1694.
USDJPY: The USDJPY as moved above the July 28 high at 110.277 and now it looks toward the swing area between 110.384 and 110.420. Above that is the July 23 high at 110.588. The pair is still remains well below the high price for the year at 111.653. Ahead of that, is a swing area between 110.96 and 111.11.
GBPUSD: The GBPUSD as move down to test the recent swing lows between 1.3871 and 1.3875. The low price just reached 1.38697 and is seeing a modest bounce the upside. A move below that floor area would certainly open the door to the downside for the GBPUSD.
This article was originally published by Forexlive.com. Read the original article here.