The Forex market opened without any major changes from last week. This is an amazing factö given that few top Forex advisors of the world, central bankers and many financial chiefs wrapped up the meeting on the Economy in Jackson Hole. The economic calendar has some top row releases for the opening of this week, but tapers off as the week goes by.
EUR/USD
EUR/USD has opened with little changes in this week from the previous week closing prices. This currency pair was able to break the level 1.4330 Late last week in the Forex market, and also could hold which could be the mark that it is ready to obtain on the level 1.4440 which is the top level of summer months.
The twenty day moving average (DMA) at the level 1.4230 and the fifty day moving average (DMA) at the level 1.4115 have performed as the support during the past few days.
GBP/USD
GBP/USD has opened with only few changes, as the new week started in the Forex market. This currency pair is still trapped between the twenty DMA at the level 1.6600, while the fifty DMA is behaving as the support at the level 1.6470. This pair has not moved away from this trading range in the Forex market with any strong certainty for several past weeks.
AUD/USD
AUD/USD opened with a small gap of 20 pips in the Forex market. This currency pair is trading in its higher trading range today, after finding the support at 20 DMA last week.
USD/CAD
We have seen a gap up opening of USD/CAD in this week. Though the pair was trading below the 20 DMA at the level 1.0860 and that level will definitely behave as an intermediate resistance for the pair.
USD/JPY
The Pair is testing the high level of the earlier day at 94.71, after the opening above of the pivot point. This
currency pair has many areas of the resistance in the form of all 4 of the DMA (Daily moving average) at 94.94 (200 DMA), 95.04 (50 DMA), 95.21 (20 DMA) and 96.27 (100 DMA).
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