In this morning video on October 26, 2023, I kickstart the Forex trading day with a technical look at the EURUSD, USDJPY and GBPUSD. What are the biases, the dangers, the targets for these three main forex pairs?

EURUSD: The EURUSD is shifting increased regardless of stronger US GDP, sturdy items orders and the ECB conserving charges unchanged. After an preliminary dip that took the worth beneath a swing space between 1.0525 and 1.05316, consumers entered in have now pushed the worth towards a swing stage from final Friday and yesterday between 1.0561 and 1.0564. If sellers are to maintain management, staying beneath that space shall be wanted.

USDJPY: The USDJPY moved above the 150.00 stage in trading right now and reached a excessive of 150.77 earlier than getting kicked again down on central financial institution worries. However, the low worth stalled close to the 100-hour shifting common and the worth has since rebounded again above the 150.00 stage and 150.15 excessive from earlier October. The worth is presently testing that October excessive on a dip. If the sellers are to take again some management getting beneath it and the 150.00 stage (and staying beneath) is required.

GBPUSD: The GBPUSD moved again beneath the 1.2076 stage which corresponded with the 38.2% retracement of the transfer up from the September 2022 low, however promoting can’t be sustained, and the worth motion returned to the upside. The pairs worth has since moved again above a swing space close to 1.2105 and 1.2111. If that stage can now maintain help, there may very well be additional upside corrective worth motion on this pair right now. Conversely, a transfer again beneath would harm the correction increased concept.