Technical Analysis

The AUDUSD fell sharply yesterday breaking below a target support level near 0.6696. However, the break was short-term and the price reestablished support against the level before moving higher. The run higher extended back above its 100-bar moving average on the 4-hour chart at 0.67236, but ran into resistance sellers near a swing area between

The NZDUSD is trading to new lows as traders react today to risk-off sentiment as stocks/commodities slide. Concerns about growth in the US and CHna iare weighing on the pair. Recall from last week, the NZDUSD peaked on Thursday after a surprise ANZ Business confidence number (50.6 vs 27.1 estimate). However, since then the price

The USDCAD is moving higher as focus for that pair is on the fall in commodity prices including the price of oil and the risk-off flows due to tumbling stocks in the US. Technicals have also played a role in the USDCADs rise to the upside after earlier in the day, the price moved back

Fundamental Overview This week has been pretty boring all around as the lack of catalysts kept the price action confined in a tight range. The market is waiting for the key economic releases next week as we will get the ISM PMIs and lots of US labour market data including the NFP report. As a

Fundamental Overview Gold continues to trade in a tight range as the market awaits the key catalysts this week. As a reminder, the Fed is now very focused on the labour market as Fed Chair Powell said that they will not welcome any more weakness and will do everything they can to keep it strong.

Fundamental Overview This week has been pretty boring all around as the lack of catalysts kept the price action confined in a tight range. The market is waiting for the key economic releases next week as we will get the ISM PMIs and lots of US labour market data including the NFP report. As a

Fundamental Overview This week has been pretty boring all around as the lack of catalysts kept the price action confined in a tight range. The market is waiting for the key economic releases next week as we will get the ISM PMIs and lots of US labour market data including the NFP report. As a

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Yesterday at this time, the price of gold was trying to stay below the 100/200 hour MAs near $2510 (blue and green lines). Sellers could not keep the pressure on and the sellers turned to buyers. After some intraday volatility yesterday, buyers returned and pushed the price back up to the ceiling area between $2526.43

Fundamental Overview Crude oil has been on a seesaw this week as we got a rally on Monday on the news that Libya was going to close down all oil fields and halt production and exports. That spike eventually got faded and prices even fell below the level seen before the news. Yesterday, we got

Fundamental Overview After the strong push lower from last Friday when Fed Chair Powell delivered a more dovish than expected speech at the Jackson Hole Symposium, the USDCHF pair hasn’t moved much as the lack of catalysts this week kept the price action at bay. The market is waiting for the key economic releases next

While the EURUSD and the GBPUSD trades between the 100 and 200-hour MAs. The USDCHF is also trading between those two MAs as the last trading of the day of the weeks gets started The 100-hour MA is below the current price at 0.8448 (blue line in the chart below). The higher 200-hour MA is

Fundamental Overview This week has been pretty boring all around as the lack of catalysts kept the price action confined in a tight range. The market is waiting for the key economic releases next week as we will get the ISM PMIs and lots of US labour market data including the NFP report. As a

The NZDUSD has moved higher after the surprising ANZ business outlook index which moved to the highest level in over 10 years. The Own Activity index moved to the highest level in 7 years. Looking at the daily chart, the swing high from January 4 reached 0.62853. The high price today just reached 0.62849, and

Fundamental Overview Since last Friday, the USD has been mostly weak as Fed Chair Powell delivered a more dovish than expected speech at the Jackson Hole Symposium where he basically kept the door open for a 50 bps cut at the September meeting. In fact, the line saying that they will do everything they can

The AUDUSD is trading in a narrow 40 picked trading range for the first two days of the week. THat is not a lot. However just ahead is Australia’s CPI data for the month of July. With the range narrow and contained, traders should look for a break momentum in the direction of the break.

Fundamental Overview Last Friday, Fed Chair Powell delivered a more dovish than expected speech at the Jackson Hole Symposium as he basically kept the door open for a 50 bps cut at the September meeting. In fact, the line saying that they will do everything they can to support a strong labour market was key.

The USDJPY is trading to a new session high as some dollar buying enters into what has been a very quiet open to the new trading day. For the USDJPY, the price of the pair initially dipped into a swing area between 144.038 and 144.447 reaching a low of 144.225, but could not go any