Technical Analysis

EURUSD was above it 200 hour moving average The EURUSD is now breaking above its 200-hour moving average at 1.10037. The 50% midpoint of the move down from last week’s high comes in at 1.1030 and is the next upside target. The high from last Friday and Monday came in near 1.1045. Those are also

GBPUSD tests a key swing area, moving average, retracement The GBPUSD is testing – well now breaking above – a key target area defined by the 100-hour moving average at 1.2756 and the 38.2% retracement of the move down from the July 27 high at 1.27628. A swing area between 1.2738 and 1.2759 (see red

Last week, the Fed hiked the interest rates by 25 bps as widely expected keeping everything unchanged. Fed Chair Powell reiterated their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been pretty solid and the labour market indicators keep on running hot. This week we

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The AUDUSD is trading up and down today. The price has moved up more recently extended to a new session high. In the process, the pair is tested the low of a swing area between 0.65586 and 0.65667 on the 4-hour chart below. A move of the swing area would have traders targeting 0.65785 followed

Last week, the Fed hiked by 25 bps as widely expected and left everything unchanged. Fed Chair Powell in the press conference just reaffirmed their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been supporting the soft-landing narrative as the labour market data remained strong

The USD is higher as the currencies react to higher US rates and another strong ADP jobs report. In this end of day video, I take a look at the technicals that are driving the EURUSD, USDJPY, GBPUSD and AUDUSD. Be aware and prepared for the new trading day. Good fortune with your trading.

The USDCAD moved above the 38.2% retracement of the move down from the May 2023 high at 1.3306. On the hourly chart, the buyers have been trending the pair to the upside over the last 2 days with little in the way of corrections. On the 5-minute chart, after correcting lower into the Asian session,

The Fed hiked interest rates by 25 bps as expected and kept everything else unchanged. Fed Chair Powell just reaffirmed their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been supporting the soft-landing narrative as the labour market data remains strong and the inflation data

In the above video, I take a look at the technicals driving some of the major currency pairs vs the USD. In trading on Tuesday, the USD moved higher vs all the major currencies helped by rising yields. The 30-year yield moved to the highest level for the year and the highest level going back

EURGBP takes out levels but needs more momentum The EURGBP is running higher today. The pair has been waffling up and down over the last 5 trading days. Today, the price broke above its 100 hour moving average of 0.85714 (blue line in the chart above), and has continued to step higher. That move has

The NZDUSD is closing today higher. The currency pair is up 0.70%. The move to the upside saw the pair extend above 3 separate moving averages 100-hour moving average at 0.6198 200-hour moving average of 0.62089 200-day moving average of 0.62215. The high price reached 0.62246. That was still short of a downward-sloping trendline and

EURUSD expands the range today, but still above support The EURUSD started the US session with a low at 1.1004 and just above the 61.8% retracement at 1.1002. The high was at 1.1037 which was just short of the 100-hour MA. That was a narrow range of only about 33 pips In the NY morning

The USDCHF moves higher to a new high in the late London morning session. The high price moved up to test the 38.2% of the move down from the June 30 high, and an old rising trend line. Those levels were both broken on Friday, but failed. The buyers had their shot. They missed. Today,

The Fed hiked interest rates by 25 bps as expected and kept everything unchanged. This outcome was already baked in, and the market was more interested on possible hints from Fed Chair Powell regarding the next policy moves. Unfortunately, Powell didn’t offer much as he just repeated their data dependency and kept all options on

As we finish the trading week and look toward the new trading week, the sellers are more in control in the AUDUSD. The bias is more to the downside on both the daily and hourly chart. Having said that, the pair has been mostly in an up-and-down trading range over the last 5 trading months.

The USDJPY traded to a new low today, and also equaled the high for the week. The day has been volatile, but is more bullish heading into the close and the new trading week. What does the price action and technicals say for next week’s trading? This video will define the bias, and outline the

As the week comes to a close in Europe, what does the price action from the EURUSD this week tell us about next week’s trading. In this video, I take a close look at the daily chart and the hourly chart to define the bias, risk, and target levels. Be aware and be prepared, by

It is Friday, so it is a good time to look back at the price action this week and then look forward to what the price action tells us going forward into the new trading week. Looking at the GBPUSD on the hourly char this week this weekt above, the price today moved to a

The Bank of Japan met and eased their yield curve control on the 10 year effectively expanding their tolerance by a further 50 basis points to 1.0%. That news – and the other news this week – has the pair moving back toward a neutral level after up-and-down-volatility. The pair is trading near the 38.2%

The EURUSD has corrected higher in trading today and the softer-than-expected core PCE data helped to push the price to a new high for the day at 1.1032. That move did extend above a swing area up to 1.10267, but overhead resistance defined by the 50% midpoint of the July trading range AND the falling

The strongest to weakest of the major currencies The GBP is the strongest and the AUD is the weakest as the North American traders enter for the day Today will be highlighted in the North American session by the PCE data in the US. Core PCE year on year is expected to decline to 4.2%

The Fed hiked interest rates by 25 bps as expected and kept the policy statement unchanged. The market was looking for clues and hints on the next policy path, but it didn’t get anything. In fact, Fed Chair Powell just reaffirmed their data dependency. Yesterday though, the US Jobless Claims beat expectations again by a

The AUDUSD resumes its fall as the US data remains hot. The Fed raised rates by 25 bps as expected and kept the policy statement unchanged. The market was eager to see if the Fed Chair Powell could offer some forward guidance but got disappointed as he just reaffirmed their data dependency. Yesterday, the US

EURUSD falls to next target area The EURUSD is trading to a new session low and in the process has reached the next target area between 1.09618 and 1.09759 (see red numbered circles on the chart above). Today, the move to the downside started against the 200-hour moving average (green line in the chart above).

The AUDUSD is trading lower with the stronger dollar and in the process, the price is testing it at 200-day moving average of 0.67246. The last few days have seen early buyers against that moving average level on each of the dips. A break below would have traders targeting the low from Monday’s trade at

Yesterday, the Fed hiked the interest rates by 25 bps as widely expected and left the policy statement basically unchanged. The market was more focused on the Fed Chair Powell’s press conference for signals on the future moves. Unfortunately, Powell didn’t offer anything for the market as he kept all the options on the table

EURUSD: The EUSUSD remains above its 50% midpoint of the July trading range. That level comes in at 1.10539. The New York (and London session) held that midpoint level. The Asian session mostly traded below the midpoint level. On the top side, the falling 100-hour moving average comes in at 1.10895. Moving above it would

The AUDUSD is lower on the day. The declines were helped by the lower-than-expected CPI data out of Australia last night. That sent the pair down to a low of 0.67287. However, that low fell just short of the rising 200-day moving average of 0.67222 (see lower green line in the chart below). Recall from

The miss in the US CPI saw the US Dollar being sold off hard across the board as the market expected the end of the rate hike cycle after the July meeting. The US data though kept on surprising to the upside and this has led the market to have a rethink. In fact, we