What technical levels are driving the major currency pairs going into the new trading week

<p>The following videos will help get you ready for the new trading week. Be sure to like them and share them if you feel worthy. All support is appreciated. If you have any comments also add them to this post or to the videos.Have a safe and great weekend. EURUSD: On Friday, the EURUSD moved down to the 38.2% target in the US session at 1.1106, but found support buyers there. That will be a key level going into the new week as well. The ECB and the Fed will both increase rates this week which depending on the central bank chatter, will help drive the pair. </p><p>USDJPY: The BOJ meets this week as well and the tilt is to no change in policy but we will see if they tilt to more YCC. On Friday, the pair moved down to test the 50% midpoint of the last move down at 141.149 and bounced back higher. The 141.45 level is also a barometer level for buyers and sellers into the new week. 142.07 area is the next upside target. Buyers are more in control. </p><p>GBPUSD: The GBPUSD fell below a swing area on Friday below 1.2635 and 1.26486. The price moved up to 50% of the move up from the end of June at 1.28658 and stalled in the US session. The 50% will be a key barometer for buyers and sellers in the new trading week. </p><p>USDCHF: The USDCHF traded above the 200-hour MA on Thursday of last week which was the first since July 6. On Friday, the price dipped down to the declining MA level and found buyers against that MA level. That increases the MAs importance going forward. Having said that, the pair is still below the 2014 low at 0.8656 which will need to be broken along with other targets including the 38.2$% of the move down from the July 6 high at 0.87235 to give the buyers more control.</p><p>USDCAD: The USDCAD moved higher on Friday and in doing so extended above its 38.2% of the July move to the downside at 1.3204. That level down to 1.3200 will be close support into the new trading week for the USDCAD if the buyers are to continue its move higher. </p><p>AUDUSD: The AUDUSD fell below the 50% of its move up from the July 6 low at 0.67466. That midpoint is within a swing area between 06737 and 0.67546. Stay below it keeps the sellers in control but the 200 day MA at 0.6714 and the 100 day MA at 0.6686 loom to the downside as key levels to get below. The battle is on in the pair. </p><p>EURGBP: With the ECB in play this coming week, the EURGBP is a pair that may be of interest. The pair broke above an area that has confined the pair this week and in doing so extended to test its 100 day MA on two separate occasions. The sellers leaned twice and pushed the pair down. The low on Friday came down to test and break the 38.2% of the range since April high at 0.86455 but stalled near a lower swing level at 0.86357. Those lower extremes will be the floor that if the EURGBP is to stay move positive, will have to stay above in the new trading week. </p><p>Have a great and safe weekend to all. Thank you for your support. </p>

This article was written by Greg Michalowski at www.forexlive.com.