Technical Analysis

The major stock indices are moving to new lows as the Fed Chair says the call was a closer call with risk two-sided. That helped to push the USD higher as well. The Dow is down -0.83% while the S&P and the Nasdaq are down over 1% The S&P is currently down -1.04% and the

The EURUSD is moving to a new low on the day and in the process is moving away from the 200 hour MA and the 100 bar MA on the 4 hour chart. Those MAs come in at 1.0514 and 1.0522 respectively. Into the FOMC rate decision and moving above that area is needed to

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

Both the AUDUSD and the NZDUSD are trading lower and in the process testing key support targets. The video above goes through the technicals driving the pairs. Below are the key technical points outlined in the video for each pair. AUDUSD Technical Analysis:The AUDUSD is retesting a key support swing area on the daily chart

The USDCAD has moved lower after failing to sustain a break higher earlier today. Technically, the pair briefly pushed above the April 19, 2020 high at 1.4264, reaching a session high of 1.4270, but momentum quickly faded. The price rotated back below last week’s high at 1.4244 (Friday) and extended to a corrective low of

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 Gold failed to extend the rally above the resistance zone around the 2723 level and pulled back as we got a technical break, and the US PPI came in higher than expected. In the bigger picture, the market’s pricing remained largely unchanged around three rate cuts by the end of 2025 but the

Fundamental Overview The US CPI report on Wednesday came in line with expectations and sealed the 25 bps cut next week. That helped the Russell 2000 as the hedges into a potentially hot CPI got unwound. The gains though were short lived. The US PPI yesterday surprised to the upside and weighed on the sentiment

UK GDP came in weaker than expected -0.1% for the month versus +0.1% estimate. Construction output, industrial production, manufacturing production was also weaker and the trade balance had a larger deficit. The declines sent the GBP lower but buyers came in near technical support targets and the price has since rebounded off lows. The EURUSD

The USDCAD moved higher today, extending to a new 4+ year high of 1.4243, surpassing levels last seen in April 2020. The next key target is 1.4264, the high from April 2020. A break above this level could pave the way for further upside momentum. Why Multi-Year Highs Matter When an asset trades at multi-year

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

The NZDUSD is trading at a new 2024 low today, reaching 0.5753, positioning the price near the midpoint of key swing lows from November 2022 and end of October 2023: 0.5739 (November 2022 low) 0.5772 (October 2023 low) A break below this support area would strengthen the bearish bias, encouraging traders to probe lower levels.

US yields are trading at fresh highs, with the 10-year yield up 7.0 basis points today to 4.395%. This marks a 24-basis-point gain for the week, the largest 1-week jump since mid-January 2024. The rising yields have fueled a strong rally in the USDJPY, which continues to track higher. Key Technical Levels and Price Action

GBPUSD Technical Analysis: Sellers Regain Control The GBPUSD started the week in a choppy trading range, with buyers repeatedly testing the 200-bar moving average (MA) on the 4-hour chart. Over the first four days (and last Friday), the price briefly moved above this MA multiple times, but each attempt quickly failed. On Thursday, buyers gave

The EURUSD is ending the week lower after an up-and-down path to the downside. The move to the downside fell below a cluster of MAs with the 200 hour MA being the one that has put a lid on the pair on Tuesday, Wednesday, Thursday and again on Friday. That ceiling increases the 200 hour

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 US Dollar continues to consolidate around the highs although it’s stronger against the commodity currencies. In the bigger picture, the market reached the peak in the repricing of interest rates expectations, and it will need stronger reasons to price out the remaining rate cuts for 2025. In fact, despite lots of strong

The USDCAD moved higher in the Asian-Pacific session today and in the process got within 3 pips of the 2024 high at 1.4177 and the highest level going back to May 2020. Finding sellers against that level increases that level importance today and going forward. Getting above that level might be more difficult with the