The dollar weakens and lost its advantage previously

Something to take notice of is that the EUR/USD is pushing up to a high of 1.1889 and testing waters just above its 200-day moving average (blue line) once again @ 1.1882.

Bullish Buyers braved a break of that level yesterday, briefly climbing above 1.1900 before settling lower at the end of the day.

For today, just be mindful that there are also large expiries rolling off at 1.1900 that may limit further gains on the day.

Meanwhile, GBP/USD is also erasing some of its decline from yesterday in a push from 1.3740 earlier in the day to 1.3780 currently.

The AUD/USD is also trading to session highs of 0.7648 - looking to test near-term resistance @ 0.7556-64.

The USD/JPY has weakened to a low of 109.52 on the day,

breaching its 50.0 retracement level @ 109.69 as price eases to its lowest levels since last Monday.

The USDCHF fell below a swing area late yesterday between 0.9318 and 0.93244.

The pair stayed below that area in trading today and has wandered lower in the London/early near session.

The pair made a new session low at 0.92677.

Authors Biography

Bola Akinya is a Forex trader and consultant with more than 20 years of immense experience in Forex Indices, Commodities and Currencies.

Prior to becoming a professional Trader, she held positions as a Head of Sales/Business Developer with Credit Registry and Operations Manager with Peak Merchant Bank both in Nigeria before moving to UK where she worked with great companies like AIG and The Wealth Training Company as Course Instructor and Speaker for over 15 years on the FX and Stock Markets before she started her own company – The Learn and Earn Forex Training Company over 5 years ago.

Over the years, she learned 121 from Top traders all over the UK which enabled her to develop her own unique strategies and trading systems that has made her a successful trader and Trainer.

She is married with 2 boys and 2 cats.

With the combined use of Fundamental and Technical analysis, she trades on the short term – medium term, as well as Economic News releases, combining both to give the consistency that is required for successful trades.