Technical Analysis

As the trading week works toward a close, the NZDUSD is trading near highs for the week. Technically the move to the upside has also breached the 100-bar MA on the 4-hour chart at 0.61116 and the 200 bar moving average on the same chart at 0.61267. The high price today reached 0.6139. As we

The AUDUSD has been trading mostly between 0.6573 and 0.67134 going back to early May. This week, the price rope to the upside reaching the highest level since early January. Today, the price corrected lower upheld sport against the old highs near 0.6708/0.6713. The price broke higher. The price corrected down to retest the break

The USDCAD traded to the lowest level since June 3 earlier today, and in doing so tested the lower basement area down to 1.35972. The 200-day moving years was just below that level at 1.35953. The low price today reached 1.3601 as buyers /profit takers leaned against the swing area. The combination of the US

When the market trends, traders are better served to understand when the market shifts the trend, versus trying to pick a top or bottom depending on which way the market is trending. For the GBPJPY, it has been trending over the last seven or so months. The price has also been above (and comfortably) its

In the kickstart FX video from July 5, 2024, I take a technical look at the three major currency pairs – the EURUSD, USDJPY and GBPUSD. Today the US jobs report was mixed with the June non-farm payroll jobs higher than expectations but revisions to the prior two months of offsetting those gains. The unemployment

Fundamental Overview After a couple of weeks of consolidation, the S&P 500 this week found some footing and eventually extended the rally into a new all-time high following the soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view

Fundamental Overview The USD weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The GBP,

Fundamental Overview The USD weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The AUD,

Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The

Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The

Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The

The USDCAD has continued its move to the downside today on the back of lower rates and the weaker US data, Technically, the price moved below the 100 and 200 bar MA on the 4-hour chart yesterday, and remained below those MAs in the early Asian session today, before moving lower on the data. The

The USDCHF moved lower after the weaker than expected US data today. However, after breaking below its 100-hour moving average at 0.90134, its 200 bar moving average on the 4-hour chart at 0.89972, support buyers came in against the key 100-day moving average at 0.89836. Recall from Friday last week and Monday’s trade this week,

In the kickstart video for July 3, 2024, I take a look at three the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. What is the price action telling traders about the technical bias, the risk, and the targets as the clock ticks toward the early closing stocks and bonds

The AUDUSD buyers remain in control with the price above the 100/200 bar MA on the 4-hour chart. Both those MAs come in at 0.6644. The price is currently near 0.6662. Going into the close – and into the new trading day – those MA will be the key barometer for the pair. Staying above

The S&P index extended to a new session high at 5489.60, and in the process extended above the highest closing level at 5487.02 from June 18. The high intraday level was at 5523.64 reached on June 28. Meanwhile, the NASDAQ index as now up close to 100 points at 17981.45. After closing at a record

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Crude oil futures are settling at $83.38. That is up $1.84 or 2.26% on the day. The gain is the largest one day gain since June 10 when the index rose 2.93% and driven by expectations of higher summer demand and concerns over potential supply shortages due to OPEC+ production cuts. Oil prices increased by

The NZDUSD is trading near session lows and in the process is testing its converged 100 and 200-day moving averages near 0.6068. When both the 100 and 200 day moving averages are converged, it represents a key risk/bias defining level for both buyers and sellers. Moving below with momentum and traders will target the 50%

Fundamental Overview The USD started the week on the backfoot as the new month begins. The last week’s strength might have been influenced more by quarter-end flows rather than something fundamental as the economic data didn’t change interest rates expectations. Nonetheless, the data should continue to support the risk sentiment amid a pickup in growth

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview This was a messy week for many markets, including gold. After some up and downs, we are ending the week basically flat. There was no real change in the fundamentals this week as the data just showed some more rebalancing in the US labour market but didn’t signal any material weakness. As of

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report yesterday. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it also supports the risk sentiment

Fundamental Overview Crude oil managed to eventually break above the key $80 resistance as the market has finally started to catch up to positive drivers. In fact, we got the recent OPEC+’s extension of voluntary output cuts, and we are seeing a pickup in economic activity as the US PMIs showed once again last Friday.