Technical Analysis

The buying in the USDJPY has pushed the price through targets at 146.204 and 61.8% retracement of the move down from the August 16 high at 145.639 (see the earlier video on the USDJPY – GO to 4:08 on the video for the start of the analysis of the USDJPY). The price is approaching 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

Crude oil settled today just one cent lower at $68.17. The low price today reached $67.60. The high price reached $69.18. At session lows, the price stayed above a swing area going back to 2023 between $66.76 and $67.51. On both Thursday and Friday of last week, the price stalled within that area and bounced

The EURUSD up and down volatility continues. After trading near the 100-hour moving average (blue line in the chart below) in the Asian/Pacific session, the price moved sharply higher. In the process the pair moved above the swing level from Friday’s trade just above the 1.1200 level, but fell short of a high price from

Fundamental Overview The USDJPY pair this morning has been on a rollercoaster. Initially, we got a rally following the soft Tokyo CPI numbers and then Takaichi winning the first round of votes in the Japanese election. Things turned around quickly in the run-off as Ishiba won triggering a selloff in the pair. Takaichi was the

The JPY is the strongest and the GBP is the weakest as the NA session begins. The USD is mixed to modestly lower mainly because of the -1.02 decline in the JPY. The other changes vs the major currencies are showing modest changes on the day with the USD higher vs the EUR, GBP, CAD,

The US PCE data was lower than expectations and it helped to push the USD lower. For the EURUSD, the price has moved above a swing area between 1.1181 and 1.11897. The next targets are at 1.1200 and the high for the week at 1.12130. Getting above those levels will have traders targeting the 61.8%

The USDCHF is moved lower on the back of the PCE data today and that move has now taken the price of the USDCHF to 0.8400 target. Remember, that area is a low of an up-and-down trading range that has confined the pair going back to August 20. The high of the area comes 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

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

The NZDUSD has been tracking the 100-hour MA higher There have been some brief moves below the 100 hour MA over the last few weeks, with a few times when the price dipped below the MA but quickly rebounded higher. Today, there has been another dip below the 100 hour MA. Seller are “making a

Fundamental Overview Yesterday, the US Consumer Confidence report surprised to the downside with one of the largest drops since 2021. The labour market data in the report softened a lot and it generally leads the unemployment rate. The market responded by raising the probabilities for the Fed to cut by 50 bps in November to

The USD is continuing its run to the downside with the greenback trading at new lows for the day vs ALL the major currencies. EURUSD: The EURUSD is trading to a new intraday high of 1.11661. That is just short of the high from yesterday at 1.11665. Move above and the high from Friday at

Fundamental Overview Tonight, the PBoC announced lots of easing measures ranging from short to long term interest rates. This was the catalyst for the copper rally. Things are looking better and better for the market as we’ve also got a 50 bps cut from the Fed last week. Central bank easing generally leads the manufacturing

The NZDUSD is moving higher today after the dip lower in the Asian/early European session found willing buyers near the 100 hour MA. Buyers have been leaning near that MA over the last 6 or so trading days. There have been some small break (on Friday and also on Thursday), but not for long. Today’s

Fundamental Overview Last Friday, the JPY weakened across the board following the BoJ policy decision as Governor Ueda made a surprisingly dovish turn by saying that “there is some time to make a decision on monetary policy because upside price risks have decreased given the recent FX moves”. He also mentioned that it’s important for