Technical Analysis

The  AUDUSD  fell yesterday closing below its 61.8% retracement of the move up from the March 15 low at 0.7353, and below a swing area between 0.73675 and 0.73799 (see post here from yesterday). In the Asian Pacific session, the price started to extend into that swing area (see yellow area and red numbered circles)

The  EURGBP  moved to the low for the week on Thursday. That took the pair to lowest level since March 7 in the process. After waffling up and down on Friday (Good Friday), the price moved higher in trading today and sniffed the falling 100 hour moving average (blue line in the chart above). The

The  USDJPY  moved to a new cycle high (and highest level since 2020) in the Asian session with a move up to 126.74. The high price from Friday reached 126.67 before modestly retracing into the close. The Good Friday closing level was near 126.40. The current price is trading at 126.56 with the swing low

The EURUSD continues to move lower as ECBs Lagarde’s press conference continues. She is holding the line as far as policy with APP purchases likely to and sometime in the third quarter, but is not pinpointing whether it’s at the beginning or the end. She has added that she sees medium-term inflation risks starting to

The  GBPUSD  is following the trend of the USD moving higher. US yields have pushed to the upside with the two year now up eight basis points to 2.435%, and the 10 year up 7.7 basis points to 2.781%. It is well off the low levels for the day at 2.301% and 2.648% respectively. The

The  USDCAD  has reversed some of the declines seen yesterday and into today. Recall from yesterday, the Bank of Canada raised rates by 50 basis points and that coupled with hopes that the US inflation was peaking, sent the USD lower and the  CAD  higher. The run to the downside saw the pair fall below

The US 30 year bond has reached a new cycle high yield of 2.926%.. The current yield trades out 2.918% just off that level. That new high represents the highest level since May 2019. In 2022, the low yield reached 1.875% early in January. The high yield today at 2.926% represents a near 105 basis

The USDJPY is trading higher once again today and in the process has blown back through the June 2015 high at 125.86 and the high from Wednesday t 126.31. That move puts the price at the highest level since May 2002 nearly 20 years ago (see weekly chart above). My USDJPY charts are running out

US and European markets (for the most part) are closed, but the forex market still trades. The  GBP  is the strongest and the JPY is the weakest. The major currencies are all clustered really close together with the JPY being the biggest outlier as it continued its move to the upside and trades to a

Yesterday, the RBNZ hiked rates by a greater than expected 50 basis points (est 25 bps) and the price for the NZDUSD initially spiked higher. However, after the NZDUSD price reached the 200 hour MA and the 200 day MA (green lines in the chart above), sellers leaned against the dual moving averages, and the

The JPY is the strongest and the CHF is the weakest as NA traders enter for the day. The ECB kept rates unchanged and said that forward guidance remains the same. The APP will also remain unchanged with expectations for it to end in the 3rd quarter. The ECB will not raise rates until APP

The USDCAD earlier today saw the 200 day MA and the 100 hour MA broken helped by the 50BP hike by the BOC and a lower USD. The break saw increased selling momentum with the price moving down to test the 200 hour MA at 1.2557 currently. The low price reached 1.2555 before bouncing. The

As the North American session begins, the EUR is the strongest and the NZD is the weakest. The NZD’s move to the downside comes after/despite the RBNZ became the first of the major country to raise rates by 50 basis points. Their hike sent the NZDUSD up to the 200 hour MA and 200 day

The USDCAD tumbles below the 200 day MA after the CPI data in the US today. The fall earlier in the North American session took the price to the 100 hour MA (blue line), however, buyers slowed the fall and bounced the pair higher. The retracement highs respected near the broken 200 day MA, but

The  EURUSD  has moved back above its 100 hour moving average (blue line in the chart above) at 1.08861 as traders breathed a sigh of relief and sell the  US dollar  after the CPI data. Recall, the pair moved below that moving average level in the NY session yesterday and stayed below. The lower swing

The major US indices all closed lower as worries about higher rates, higher inflation, slower global growth, recession, you name it. S&P and NASDAQ closed lower for the second consecutive day S&P closed below its 200 hour moving average at 4420.58 NASDAQ gapped below its 200 hour moving average up at 13707 and closed near

The EUR is the strongest and the JPY is the runaway weakest of the major currencies. The USDJPY is up over 1% on the day and in the process has extended to test the swing high going back to June 2015 at 125.851. The price is trading at the high for the day at 125.74

The  EURUSD  is working on its 7th down day in a row. Now there has been ups and downs – especially on Wednesday and Thursday – but the highs have seen limits. Yesterday and on Wednesday, the highs for the day stalled near the swing lows from March 28th. The consolidation also allowed for the