Technical Analysis

Bitcoin has been struggling recently as the monetary conditions started to tighten more with the US Dollar gaining across the board and global bond yields rallying. Strong data are making the market to lean on the more hawkish side as the Fed kept all the options on the table at the last week’s FOMC meeting.

EURUSD holds support at the 100 day MA AGAIN The EURUSD has been stepping down today, and the focus for the pair was looking at its 100-day moving average (blue line currently at 1.09132). Recall that back in early July, the price approached that moving average on July 6 and found willing buyers (see chart

The Fed raised rates by 25 bps as expected and kept everything unchanged. Fed Chair Powell didn’t hint to anything and just reaffirmed their data dependency keeping all the options on the table. The data since the FOMC meeting has been support the soft-landing narrative as the labour market data remained strong and the inflation

USDJPY tests next target area The USDJPY moving to a new session high and in the process is testing the next target area between 143.44 and 143.54 (see red numbered circles on the chart above). Moving above that area, and apart from the natural resistance near 144.00, traders would look toward the 144.12 to 144.22

EURUSD expands the range today, but still above support The EURUSD started the US session with a low at 1.1004 and just above the 61.8% retracement at 1.1002. The high was at 1.1037 which was just short of the 100-hour MA. That was a narrow range of only about 33 pips In the NY morning

The NZDUSD is closing today higher. The currency pair is up 0.70%. The move to the upside saw the pair extend above 3 separate moving averages 100-hour moving average at 0.6198 200-hour moving average of 0.62089 200-day moving average of 0.62215. The high price reached 0.62246. That was still short of a downward-sloping trendline and

Last week, the Fed hiked interest rates by 25 bps as expected leaving the policy statement unchanged. The market was eager to get some clues on the next policy moves but was disappointed as Fed Chair Powell just reaffirmed their data dependency and kept all the options on the table. The US Jobless Claims beat

The Fed hiked interest rates by 25 bps as expected and kept the policy statement unchanged. The market was looking for clues and hints on the next policy path, but it didn’t get anything. In fact, Fed Chair Powell just reaffirmed their data dependency. Yesterday though, the US Jobless Claims beat expectations again by a

The strongest to weakest of the major currencies The GBP is the strongest and the AUD is the weakest as the North American traders enter for the day Today will be highlighted in the North American session by the PCE data in the US. Core PCE year on year is expected to decline to 4.2%

The EURUSD has corrected higher in trading today and the softer-than-expected core PCE data helped to push the price to a new high for the day at 1.1032. That move did extend above a swing area up to 1.10267, but overhead resistance defined by the 50% midpoint of the July trading range AND the falling

The Bank of Japan met and eased their yield curve control on the 10 year effectively expanding their tolerance by a further 50 basis points to 1.0%. That news – and the other news this week – has the pair moving back toward a neutral level after up-and-down-volatility. The pair is trading near the 38.2%

It is Friday, so it is a good time to look back at the price action this week and then look forward to what the price action tells us going forward into the new trading week. Looking at the GBPUSD on the hourly char this week this weekt above, the price today moved to a

The Fed hiked interest rates by 25 bps as expected leaving the policy statement unchanged. Tha market was more focused on hints and clues on the next Fed moves but it got disappointed as Fed Chair Powell has just reaffirmed their data dependency and kept all options on the table. Yesterday, the USD strengthened across

EURUSD falls to next target area The EURUSD is trading to a new session low and in the process has reached the next target area between 1.09618 and 1.09759 (see red numbered circles on the chart above). Today, the move to the downside started against the 200-hour moving average (green line in the chart above).

Yesterday, the Fed hiked interest rates by 25 bps bringing the FFR to 5.25-5.50% as widely expected. The policy statement was left basically unchanged, so the market couldn’t get any signal for the next moves. In fact, the focus was not on the decision itself, but on the forward guidance. Fed Chair Powell in his

EURUSD: The EUSUSD remains above its 50% midpoint of the July trading range. That level comes in at 1.10539. The New York (and London session) held that midpoint level. The Asian session mostly traded below the midpoint level. On the top side, the falling 100-hour moving average comes in at 1.10895. Moving above it would

The OPEC+ production cuts and the expectations of more economic stimulus in China following the dismal inflation numbers, gave Crude Oil enough strength to break above the key resistance zone around the $75 level. After a brief rally, the price stalled and reversed as the PBoC held off from delivering more rate cuts. On Monday

The Australian CPI data for the quarter will be released in the new trading day rotations of a move down to 1.0% from 1.4% last quarter. The year-on-year CPI level still remains comfortably above the inflation targets (at 5.4%). Technically, the price of the AUDUSD has rebounded today after testing its 200-day moving average both