Technical Analysis

The USD initially moved lower during and after the Fed Powell speech at Jackson Hole. However, that trend has reversed with the dollar moving back to the upside. Technically speaking, the move lower in the dollar did find willing buyers against technical levels in most of the major currency pairs. I outlined those levels in

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

The USDCAD moved up to retest Wednesday’s high in trading today at the 1.3603 level and found willing sellers. The relatively random level (although it’s around the round number 1.3600), will be a barometer for further bullish bias on a break today. If done, traders will look toward another swing area near 1.36534 which comes

As traders prepare for the Fed chair Powells speech at Jackson hole, it is important to outline the key technical levels in play that would either increase the bullish bias for a currency pair or increase the bearish bias. In this video, I kickstart your FX trading date with a technical look at the EURUSD,

The strongest to the weakest of the major currencies The AUD is the strongest and the CHF is the weakest as the North American session begins. The US dollar is mixed with modest gains versus the EUR, JPY, CHF and NZD, and modest declines or is the GBP, CAD, and AUD. The biggest mover versus

US: The Fed hiked by 25 bps as expected and kept everything unchanged. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M

The USDCHF is extending to new highs after breaking above the swing highs from earlier this week and also last week at 0.88273. Staying above that level is more bullish. The break to the upside has also reached the 50% midpoint of the move down from the end of May high. That level comes in

EURUSD bounces and tests swing area up to 1.08485 The EURUSD has moved back to the upside after starting the US session moving to the downside. The low in the New York session reached 1.08135. I came up short of the low from yesterday at 1.08017 and the 200 day moving average at 1.0799. The

The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Russell 2000 started to rise as the market was just probably overstretched. This looks more like a pullback as the miss in yesterday’s US PMIs doesn’t support the bullish case. Russell 2000 Technical Analysis

The major indices all closed higher today led by the Nasdaq index ahead of Nvidia earnings after the close. Will the earnings season end on a high note or a low note? The earnings release is expected to be at around 4:20 PM ET with estimates of $2.09 EPS on revenues of $11.224 billion. The

The USDCHF rose earlier in the session, but cannot extend above the high of a swing area between 0.8805 and 0.88273. The high price today reached between that area at 0.88163 before rotating back to the downside. The weaker US PMI data sent a price to new session lows, and looking at the 4-hour chart

US: The Fed hiked by 25 bps as expected and kept everything unchanged. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M

The EURJPY moved above a swing area and ceiling area between 159.19 and 159.32 toward the end of yesterday and in the Asian-Pacific session today tried to stay above that area as well. However, momentum could not be sustained passed 159.484, and buyers eventually turned to sellers in the early European session and forced the

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

US: The Fed hiked by 25 bps as expected and kept everything unchanged. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M

The AUDUSD has seen up-and-down price action in trading today. The earlier session high stalled against its 100-hour moving average. Sellers leaned against the moving average level (it’s currently at 0.64185). The subsequent price low in the US session reached a 0.6386. That low was still short of the low from Friday’s trade at 0.6379.

https://www.forexlive.com/technical-analysis/august-21-2023-kickstart-your-trading-day-with-a-look-at-the-eurusd-usdjpy-and-gbpusd-20230821/ I kickstarted the trading week with a technical look at the EURUSD, USDJPY, and GBPUSD in this video HERE. NOW, in this video, I take a technical look at the USDCAD, AUDUSD, and NZDUSD and outline what are the key levels driving these pairs to start the trading week. USDCAD: The USDCAD has moved

> Technical Analysis > A review of the technicals driving the different currency pairs (and more) Technical Analysis For the week starting August 21, 2023 EURUSD, USDJPY and GBPUSD AUDUSD and NZDUSD: Crude OIl: Nasdaq index: ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT

Crude oil sets the support and resistance going into next wk A week or so ago, the price of crude oil moved above a key swing ceiling between $82.43 and $83.44 (see yellow area and read numbered circles on the chart above). The price moved above that ceiling on Wednesday of last week, closing at

The USDCHF has chopped parsley higher this week. On the downside, a swing area support held near 0.8742. On the top side, there were some modest moves above a swing area high near 0.88193 that failed. However, as we head closer to the close for that week, the price is retesting that swing area between

The USDCAD has found sellers near the 61.8% retracement of the 2023 trading range. With the USDCAD up each of the trading days today, will the sellers look to lean against the retracement level and start a corrective move to the downside? The 61.8% retracement comes in at 1.35674. The high price stalled at 1.3573

USDJPY back down testing the lows The early buying of the USD in the North American session, took the price above its 100-hour moving average near 145.70. The high price reached 145.755 and 145.733 consecutive hourly bars. However, momentum could not be sustained (with the next key target at 145.90), and short-term buyers were forced

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

GBPUSD back above the 100/200 hour MAs The GBPUSD is snapping back higher. In the kickstart technical video from earlier, the pair had moved back below the 100/200 hour MAs which are converged at 1.2719. That tilt of the bias more to the downside but a swing area between 1.2678 and 1.26988 stalled the fall

The AUDUSD and NZDUSD have technical stories that are similar. On the downside, the low prices from yesterday gave traders is something to lean against on dips. For the AUDUSD a swing area and downward-sloping trendline on the daily chart stalled the fall. On the topside the falling 100-hour moving average is resistance, and would

In the morning kickstart technical view of the EURUSD, USDJPY and GBPUSD, the US dollar is moving higher. EURUSD: The EURUSD is training to the lowest level since July 6 and in the has moved into a swing area between 1.0833 and 1.08485. That area is a key barometer for both buyers and sellers today.

USDJPY tumbles into the US close As stocks started to slide and US rates also came off of it’s highs, the USDJPY started a reversal to the downside. The current hourly bar has seen the price of the pair move from 146.16 to a low of 145.63. That move to the downside, took the price

The NASDAQ index is training to new session lows and in the processes currently down around -1.15%. That decline matches the previous 2 day declines -1.14% and 1.15% respectively. NASDAQ shares are down -7.14% for the month is its worst performance since December 1 the index fell -8.73% Steady as she falls…. Nasdaq is down

Despite good economic data like lower core inflation, stable jobless claims, lower inflation expectations and strong consumer spending that support the soft-landing narrative, the Nasdaq Composite just keeps on falling with very shallow pullbacks. One of the main reasons might be the non-stop rally in long term yields and real yields as it makes financial

AUDUSD making new lows In an earlier video on the AUDUSD, I talked to the possibility of a bounce in the AUDUSD. The pair is oversold. The RSI was diverging on the hourly chart the price needed to get back above the end-of-May low near 0.64587. Looking at the hourly chart, the price could not