The US dollar is moving higher in early North American trading. Stocks are moving lower. Meta is down over 10% after reporting earnings yesterday that highlighted increasing costs. The Dow industrial average is down -160 points. The NASDAQ index, which was higher earlier trading, is now down -137 points, and the S&P index is down -23.34 points.
EURUSD: The EURUSD is trading to new lows and in the process move below the low price from last week and yesterday at the 1.57765 level. Earlier today, the corrective high price stalled against the 100 hour moving average up at 1.6135 keeping the sellers in control. The double bottom from early October at 1.15413 is the next key target.
USDJPY: The USDJPY is now trading above its 6 or .8% retracement level at 153.397. The next target comes against a swing level near 154.736. The current price is trading at 154.19. The
GBPUSD: The GBPUSD is back at the lows for the day and testing the 38.2% of the 2025 trading range at 1.3140. That level also corresponds with other swing levels (see red numbered circles). Key barometer for buyers and sellers. Move below is more bearish. Stay above keeps the buyers in play with the 200 day MA at 1.3243 as topside resistance.
USDCHF: The USDCHF is extending above the high from yesterday at 0.80189 (high of swing area between 0.8013 to 0.80189). Earlier the price moved back above the 61.8% retracement of the October trading range at 0.79978.
USDCAD: The USDCAD started the day down at the 200 day MA at 1.3928. Bulls in play. The price then moved back above the 100 and 200 hour MAs at 1.39679 and the 1.39907 (blue and green lines). Bias switches to buyers more in control. The next target is being tested at 1.40047 (see red numbered circles). The buyers are ticking off level after level. CLose risk is now the 200 hour MA for buyers looking to profit on the breaks higher.
