In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the January 8th session.
EUR/USD — The market fell on Tuesday session towards the 200-day EMA and the bottom of this hammer candlestick, which look supportive. So, the market could remain choppy for a while between the 1.11 and the 1.12 level. A break below the 1.11 level opens the bearish scenario for the euro. To the upside, the 1.14 level is the target. You need to wait and see how this market will play out after the release of the jobs numbers from the US.
GBP/USD — It looks like the market is trying to build up enough momentum to make it to the upside. The 1.30 level could offer strong support. Also, the area above the bullish flag pattern is supportive. You can view pullbacks as value aiming for the 1.35 level as the first target and 1.38 as the next.