Technical Analysis

The  USDJPY  moved nearly 300 pips today with most of that move being to the upside. Looking at the five minute chart, the pair closed at 128.42. The low price was just nine pips lower than that at 128.33. At the lows in the Asian session, the pair stalled near the rising 100 bar moving

The  USDCAD  moved up to a downward sloping trendline yesterday near 1.2858 (the high price reached 1.28533), and found willing sellers on the first look (see post here). That trendline came ahead of a higher swing area between 1.28709 and 1.2900 (a nice round number). The sellers held the trendline and the price rotated down

The AUDUSD is looking to close lower for the fifth consecutive day although today’s decline would be modest. The current price is just four pips off it’s closing level yesterday at 0.7122. The price is traded mostly above that level today but has rotated back to the downside going into the close. Looking at the

The price of the  GBPUSD  is trading near lows for the day at 1.2521. That is taking the pair closer to the natural support at 1.2500. It is also nearing the 61.8% retracement of the move up from the 2020 low at 1.24936. Looking at the daily chart, the price moved below a swing area

The USDCAD moved higher yesterday and away from it’s 100 day MA. The high yesterday stalled ahead of a lower swing area that is ahead of the extremes from 2021 in 2022. That swing area in the USDCAD comes between 1.27857 and 1.28132. In trading today, the USDCAD initially moved lower in the Asian session,

The  NASDAQ  index is a tumbling lower. It is currently down -356.76 points or -2.74% at 12648.10. The low price reached 12631.63. Looking at the daily chart, the swing low today has moved into the lower extreme area for 2020 which comes between 12555.35 and 12670.08. The low price for the year was reached on

 GBPUSD  moved to the lowest level since September 2020 (see earlier posts here). At the same time, the price has been trending lower over the last two trading days and is able to stay below its falling 100 bar moving average on the five minute chart (blue line in the chart above). The last hour

The  USDCAD  is trading to new session highs and in the process is running further away from its 100 day moving average (currently at 1.26735). Recall from Friday, the price moved above – and closed above – that moving average for the first time since March 15. Initially the price traded above and below the

The JPY is the strongest and the GBP is the weakest as the NA session begins. The USD is just below the JPY as the strongest and the NZD and AUD are trending lower as well. In the Asian session, Japanese Finance Minister Suzuki escalated his verbal intervention in the yen in remarks today. Suzuki

The  GBPUSD  moved sharply lower after retail sales came in much weaker than expected -1.4% versus -0.3% estimate. The price also got a kick to the downside after breaking below the 1.300 level and the low price from April 1.2971. The pair traded down to a low price of 1.2861, and got closer to the

The  USDJPY  in the Asian session moved up to test the swing highs from yesterday’s trade between 128.63 and 128.70. The high price today reached 128.685. Sellers leaned against the high, and the price rotated back to the downside The move lower in the late Asian session saw the USDJPY move below the 100 hour

The AUDUSD has just cracked below its 200 day moving average at 0.72926. The fall back below the level is the first since March 17. The move above the 200 day moving average on that they sent the price sharply higher, with the pair peaking at 0.76607. Since then the price has fallen 9 of

The USD is making a break for it to the upside. In the current hour, the greenback is trading to new highs for the day versus all the major  currencies  with the exception of the JPY. It is now the strongest of the major currencies. The weakest as the NZD and  AUD  . EURUSD: The

The  USDCAD  today moved above its 200 hour MA (green line at 1.25904) in the Asian session, and in the process continued the trend move higher that was started yesterday. The break higher above the 200 hour moving average (green line) saw some consolidation, but the price based against that MA before taking the next

The  AUDJPY  move to the highest level since June 2015 this week. The high price reached 95.736. The price has run up from 80.36 at the January low. That is a gain of 1537 pips. After the move to the highs yesterday, the price did rotate back to the downside closing just above the previous

The  GBPUSD  has had a volatile up and down trading session today. The run to the upside saw the pair traded to the highest level since April 14 (ECB rate day). The high also extended above the corrective high from April 14 near 1.30817, but the rise fell short of the 38.2% retracement of the

The EURUSD started the NY session with a move below the 200 hour MA (green line at 1.08366). The move lower took the price to a swing area from trading this week (and Friday last week as well) at 1.08205. The subsequent rebound off that support, rebroke above the 200 hour MA and moved back

The  EURUSD  made a move back above its 100 hour moving average in the late Asian session, and held above that level for the most part since breaking that target. Later, in the London morning session, the price extended even higher and rose above its next key target at the 200 hour moving average. That