Technical Analysis

In the kickstart video, I take a look at three other major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. There was a slew of economic data in the US highlighted by the Advanced GDP for the 4th quarter which showed strong growth and tame inflation, and initial jobless claims which

The USDCAD moved sharply higher yesterday after the Bank of Canada interest rate decision. The price moved up toward the high price of last week at 1.35411, but fell short of that target. The subsequent move to the downside today took the price back down toward its 200 day moving average at 1.3483. Other moving

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The US GDP beat expectations by a big margin. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again

The AUDUSD is mired in a narrow 70-pip trading range this week. The low was reached at the high of a swing area at 0.65504 (swing area down to 0.65417). The high reached up to the high of a swing area between 0.6612 to 0.66215. In between is the 200 day MA and the 50%

The NZD is the strongest and the CHF is the weakest as the NA session begins. The USD is mixed to lower to start the North American session. The ECB will announce at their rate decision with expectations of no change in policy. That will take place at 8:15 AM ET. ECB Pres. Lagarde will

Yesterday, the USDCHF experienced an upward movement, reaching a key swing area between 0.8711 and 0.87314. The pair initially moved away from the 38.2% retracement level of the downward trend from the October high to the December low, which is at 0.86803. Despite this, the market couldn’t maintain its upward momentum. When the price subsequently

The strongest to the weakest of the major currencies The JPY is the strongest and the USD is the weakest at the US session begins. The USD has been hit after gains yesterday did not get follow-through price action: The EURUSD Fell below its 200-day MA intraday yesterday (that MA is at 1.0844), but bounced

If I were to give a technical tilt for the AUDUSD, the bias is to the downside. Looking at the 4-hour chart, The price is now below the 200-hour moving average 0.65779 (green overlay line on the chart below). Bearish The price is also below the 50% midpoint of the move-up from the October load

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again following the CPI data. The labour market continues to

The price of WTI crude futures are settling at $75.19. That is up $1.78 or 2.42%. The high price reached $75.46. The low-price extended to $72.56. Domestically in the US, North Dakota oil output is estimated to decrease by 250,000 – 300,000 barrels per day due to cold weather conditions. The high-price today traded above

The USDCAD this week moved higher and in the process extended above its 38.2% retracement of the move down from the October high. It also moved above the 200-day MA currently at 1.34809 but stalled the rally at the 50% midpoint of the same move down from the October high. Traders will often lean (at

The major US stock indices are opening higher, but often the highs from the premarket trading. Of note today is the S&P index is once again looking to test its high closing level. That level comes in a 4796.57. The high price today has reached 4799.33, but has backed off. Last week the price moved

The USDCHF has moved higher this week. The low for the week was on Monday. In the current 4-hour bar, the price is making new highs. So buyers have been in control. On the way to the upside, the price moved above the 200 bar moving average on the 4-hour chart. That level comes in

The NZDUSD moved lower in the early part of the week, helped by technicall breaks and slower growth in China. The move to the downside continued until the price moved into a key cluster of support defined by the 200 day moving average at 0.60897, a swing area going back to mid-November at 0.6078 –

The AUDUSD moved lower in the first half of the week, with the high for the day reached in the early hours of Monday. The fall bottomed on Wednesday when the price reached a low corresponding to swing highs and lows from November and again in December. Today’s return to that level attracted risk-focused buyers,

The EURUSD yesterday moved down to test its 200-day moving average at 1.0846. The low price reached 1.0842 before bouncing to the upside. The subsequent move to the upside yesterday and into the Asian session today sniffed its falling 100 hour moving average currently at 1.0905. However, it found willing sellers after the initial jobless

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was