Technical Analysis

The EURUSD moved above its 200 hour moving average earlier in the European session. Recall from yesterday, the price tried to crack above that moving average line but could not sustain momentum. The European run-up took the price up near 1.0051 before rotating back to the downside. Focus returned to a higher dollar after better

The NZDUSD held resistance last week against the 200 hour MA. On Thursday, the run higher stalled ahead of the level. On Friday, the price moved right up to the level and backed off (after the core PCE data). On Friday, the selling was strong with the pair closing at the session lows. Today, the

The Nasdaq index has a high today of 12124.87. That did take the price back above the the indices 100 day at 12109.50, but not for the long. The price has rotated back to the downside reaching a new intraday lows at 11981.42. The current price is at 11997, down -144 points or -1.19%. Technically,

The USDCHF is moving to a new session low and at the lowest level since Monday. The 200 hour moving average is being approach at 0.95907. That moving average is near a low swing area between 0.9591 and 0.96046 (see renumbered circles). A move below that level would have traders targeting the 38.2% retracement of

Crypto shorts should probably cover here, as ETHUSD is at $1500, and possibly enter again if price closes a 4hr or daily candle below the presented channel, and previously broken bull flag, now being retested for the 2nd time. Traders that are trading Ethereum or any other crypto, should be very minded to what the

The USDCAD has seen a run higher along with the general dollar buying trend today afterFed Chair Powell’ Jackson Hole speech. The pair – after dipping toward the low from yesterday, and the 50% of the recent trading range after the better than expected core PCE data – saw sellers turn to buyers as the

The NZDUSD – like other pairs – saw dollar selling after the core PCE data – take the pair move up to test the 200 hour MA. Sellers leaned keeping the pair steady. Chair Powell came along and the comments caught hawks attention today. The price moved below the 100 hour MA (blue line at

The EURUSD is lower, but is still above the low for the day and the 100 hour MA. The current price is at 0.9977. The low for the day reached 0.99459. That took the price briefly below the 0.99515 level which was the low from July 14 low. The July 14 low stalled the fall

The major US indices are lower and that move has now pushed the tech heavy NASDAQ index back below its 200 hour moving average of 12425.85. The low rached 12374.13. The current price is at 12399.22. Stay below would tilt the bias more to the downside. The low for the week reached 12350.16. The 38.2%

This via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. “The long term GBPUSD chart now truly looks awful. One can view it as a major double

Recall from yesterday, the 4 PM London fixing saw the dollar move lower. Looking at the EURUSD it moved above the 0.99515 swing low going back to July and raced up to the 100 hour MA. Today, the price for the EURUSD moved back below the 100 hour MA and returned to the 0.99515 level

The following Nasdaq technical analysis shows my slightly bullish bias, and a Long trade, with its stop loss and take profit target It seems to me that Nasdaq futures is eyeing the 13000 round number again, where partial profit can be taken on the Long trade My stop is far and well below the recent

After trading to a new session low in the US session, but only by a few pips, the price of the EURUSD has pushed back to the upside and has just broken above the swing low from July 2022 and 0.99515. There has been some stops triggered and the current price trades up to 0.9978.

The declines in the USD are being whittled away as yields move back higher. The US 2 year auction was dismal with little in the way of domestic or international demand. The Jackson Hole Symposium may be weighing on the minds of investors. Sale of 2 year notes are generally not a problem, even though

The flesh PMI data was much weaker than expectations. New home sales and Richmond Fed also came in weaker while consumer confidence flash estimate was negative but not as weak as expectations. The weaker data has helped to send yields lower. The two year yield is down -6.9 basis points at 3.247%. The 10 year

The USD is making new highs as London/European traders exit for the day. Apart from the AUDUSD, the other major currencies are trading at new session high. The EURUSD is breaking below its 2022 low price and 0.99515. The low price reached 0.99269 so far. The current prices trading at 0.9932 just above that level.

The AUD is the strongest and the EUR is the weakest as the NA session begins. Both those currencies were at the bottom when ranking the strongest to weakest for the trading week last week. Today, they area enjoying a rebound of their fortunes. For the AUDUSD it bounced off a technical support level near

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