Technical Analysis

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 The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be generally positive for risk sentiment going forward.

Fundamental Overview We got a bit of a pullback in the S&P 500 in the last few days. If we were to try to find a catalyst, the second miss in a row in the US Jobless Claims last Thursday could be it, but the data was still pretty good and not worrying in the

Fundamental Overview Gold got hit hard last Friday by the strong US PMIs as real yields rose following the data release. The report though showed that inflationary pressures continue to abate and that’s also the reason why the market’s expectation for interest rates remained unchanged. The overreaction from the US PMIs is getting slowly erased

Fundamental Overview Despite good data on the inflation and growth front, Bitcoin couldn’t find a sustained bid amid the generally positive risk sentiment. There was no real catalyst for the drop other than a key technical support getting breached. We got a quick drop into a key support zone today which will likely attract more

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be positive for risk sentiment for the time

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be positive for risk sentiment for the time

As the clock ticks to the end of the trading week, the USDCAD has moved higher after reaching a new low for the week earlier in the trading day. On the way to the low, the price did move back below its 200 bar moving average on the 4-hour chart at 1.3687. It also fell

The GBPJPY has been on an upward trend this week, but it turned lower during the European session following weaker-than-expected flash PMI data. The price dropped below its 100-hour moving average (blue line on the chart above at 200.77) but found support near the 200-hour moving average and the lower boundary of a swing area

The AUDUSD this week traded down to test a swing area between 0.6575 and 0.6590. The subsequent move to the upside then tested the high of a swing area between 0.6677 and 0.66896 (see the chart below). Staying with the confines of the “red box” where most of the trading has taken place over the

The USDJPY has lifted back to the upside and is back above the 159.00 level after the stronger-than-expected S&P/global manufacturing and services index flash data. The high price traded up to 159.206. That gets it to 100 pips short of the 2024 high price at 160.208. That I was the highest level going back to

The Swiss National Bank cut rates by 25 basis points yesterday and that reversed the downward bias that the USDCHF was experiencing going into the rate decision. The subsequent move higher move back above the 38.2% retracement of the move up from the December 2023 low at 0.8883, a swing area between 0.8881 and 0.8892,

In the kickstart video for June 21, I take a look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the targets are for each. The EURUSD corrected up to tested 61.8% retracement of the move up from the April low at

The strongest to the weakest of the major currencies As the NA session begins the NZD is the strongest and the GBP is the weakest. The USD is mixed. In Japan all hands are on deck to slow the JPYs fall. Overnight,Japan’s officials, including Masato Kanda, Finance Minister Suzuki, and Chief Cabinet Secretary Hayashi, emphasized

GBPUSD sellers are making a play The GBPUSD fell earlier today. The BOE kept their policy rate unchanged today. However, as Justin pointed out in his posts after the decision, the Bank of England’s latest statement includes subtle dovish hints suggesting potential rate cuts in the near future. In the forward guidance, the BOE added,

USDJPY breaks and runs The USDJPY is extending to a new high for the day. The move higher today took the price above the swing highs from earlier this week and last Friday near 158.248. After reaching a high at 158.46. The price rotated back lower, tested the break level at 158.248 and found support

The broader US stock indices have now moved into negative territory and traded two new session lows. The S&P is down -18 points are -0.33% at 5469. The NASDAQ and is down -133 pointer -0.74% at 17729. Nvidia shares are now negative by $2.26 or -1.59% $133.38. Apple shares are down by $4.45 or -2.08%

Fundamental Overview The USD has been generally weaker this week after the strength seen last week due to some risk off sentiment. In fact, it looks like it’s just sentiment that’s been driving the market recently as fundamentally the soft US inflation figures just consolidated the market’s expectation of two cuts for this year despite

NVDA price forecast for traders and investors at ForexLive.com Predicting where a stock might rest after a significant rally, especially when it’s creating new all-time highs (ATH) almost weekly, presents a unique challenge in technical analysis. NVDA (NVIDIA Corporation) is currently in such a phase, with its price action tightly confined within a strong bull

Fundamental Overview The USD last week saw a quick dip across the board following the soft US CPI report as the market priced back in two rate cuts by the end of the year. The moves were reversed soon after though as we got a bit more hawkish than expected FOMC decision where the dot

Fundamental Overview The USD last week saw a quick dip across the board following the soft US CPI report as the market priced back in two rate cuts by the end of the year. The moves were reversed soon after though as we got a bit more hawkish than expected FOMC decision where the dot

The best traders anticipate the next trade. In this video I take a look at the GBPJPY and the EURJPY from a technical perspective and pick out the key level that will define the bullish/bearish barometer heading into the new trading day and explain why the levels are important. The level will either keep the

The AUDUSD has been fluctuating mostly between 0.6575 and 0.66896 over the past 6-7 weeks. This prolonged period of oscillation has led to the near convergence of the 100 and 200 bar moving averages on the 4-hour chart, which are now positioned between 0.66318 and 0.66349. Today, weaker US retail sales data and an RBA

Fundamental Overview Crude oil reversed all of its losses from the last week of May, when, despite OPEC+’s extension of voluntary output cuts, the market fell as the price broke out of a month-long range. The dip could have been purely technical, as bearish momentum increased following the breakout. The price eventually bottomed around $73

The AUDUSD sellers made a play to the get outside of a swing area on the downside at 0.6575. The low price reached 0.6584. that low was also just above the 38.2% retracement of the move up from April at 0.6579. Buyers leaned against the low area. The price has rebounded higher over the last

EURUSD tests a swing area between 1.0720 and 1.0735 The EURUSD fell below a swing area on Friday between 1.0720 and 1.0735. Selling intensified, and the price low moved down toward 1.0666 before bouncing back into the Friday close. Today, the initial move was to the downside in the Asian session, but the price has

Fundamental Overview The USD last week lost ground across the board following the soft US CPI report as the market priced back in two rate cuts by the end of the year. The moves were reversed soon after though as we got a bit more hawkish than expected FOMC decision where the dot plot showed

Apple broke higher this week on the back of the new AII news for the company (and its products announced ar the World Wide Developers Confeence. Fundamentally, the hope is the new AI initiatives will stir a new round of product upgrades for its user base. That is something new vs what has been ho-hum

The USDJPY corrected higher since the start of the US session, and ran into resistance above between 157.40 and 157.464. Buyers turned to sellers against the level. Going forward, that swing area will be close resistance not only today but in the new trading week. If broken, traders would look toward the May 29 high

The AUDUSD started the week testing the low of a swing area (going back to early May) near 0.6579 and also the 38.2% retracement of the move up from the April 2024 low to the May high near the same level. Sellers pushed the price below that level early on Monday of this week, but