Technical Analysis

EURUSD runs lower on the 5 minute chart The GBPUSD is continuing it’s run to the downside. That move lower started in the European session when the price fell below the 200 and 100 bar MAs on the 5 minute chart, shifting the bias back to the downside. The move lower has not really seen

USDJPY takes a nap The  USDJPY  moved down and up yesterday, and it is moving down and up today. The low price yesterday stalled ahead of the 38.2% retracement of the last trend leg higher (from June 6). That retracement level is also near the swing high from Tuesday’s trade and a swing low from

Nasdaq below 200 hour MA, tests 100 hour MA The  NASDAQ  index is trading down -245 points or -2.05% at 11840. That has now taken the price below its 200 hour moving average at 11889.18. It is approaching the 100 hour MA at 11827.13. A move below that MA would tilt the bias firmly n

USDCAD moves through 38.2% and 200 day MA The run to the upside in the  USDCAD  has now moved through the next key upside target. That target included the 200 day moving average at 1.2659, and the 38.2% retracement of the move down from the May 25 high at 1.26571. Getting above those levels increase

NZDUSD move back toward 38.2% retracement level The NZDUSD moved lower in the Asian session after rising up to a swing area between and 0.6490 and 0.6499 before the close yesterday (see red numbered circles and yellow area). The high price reached 0.6494. The subsequent move to the downside saw the price extend toward the

USDCAD stays below the 100 hour moving average The USDCAD has moved to a new session low and in the process has made a new low for the 10th consecutive day. Yesterday the low came in at 1.25228. The low price just reached 1.25166. Over those 10 days, the price has been down 8 of

USDCAD has a lower low for 9 consecutive days The USDCAD is trading at a new low. The price will below the low from yesterday at 1.25344 and has reached 1.25239 so far. The pair has not traded to a new intraday low for the 9th consecutive day. Looking at the daily chart, the next

The  GBPUSD  found sellers against its 100 hour moving average earlier in the day and lower into the early US session. In an earlier post, I wrote on the inability to move above the 100 hour moving average as being more bearish. However, I also cautioned that getting below the 38.2% retracement 1.24705 was required

EURUSD trades in an up and down trading range since May 23 The EURUSD is tilting back toward the low for the day. That low came in at 1.0683. The current price bar on the hourly chart just reached 1.06876. In the NY session , the price moved back below the 200 and 100 hour

EURGBP rotate back into a neutral area ahead of VOC The EURGBP moved up on Friday and opened near the closing level from Friday before rising to session highs and into a swing area between 0.5868 and 0.85927. The high price reached between those levels at 0.85887, and rotated back to the downside. The move

EURUSD falls back below its 100/200 hour moving averages The EURUSD has moved lower after the US jobs report showed a stronger than expected gain in nonfarm payroll. The move to the downside took the price back below the 100 and 200 hour moving averages at 1.07221 and 1.07177 respectively. The low price extended to

Both the GBPUSD and USDCHF moved in the strong dollar direction after the US jobs report, but both have retraced back to near converged 100/200 hour moving averages. However, traders leaned against the converge moving averages and have pushed the prices back away. Looking at the GBPUSD, the 100 and 200 hour moving averages come

GBPUSD breaks below 1.2524 support The  GBPUSD  has seen down, up and now back down price action since the US jobs report. The price initially moved to the downside falling to a low of 1.25197 shortly after release of the jobs report. That took the price below a swing level at 1.2524, but only briefly

With the UK still on holiday, the other major European  indices  are closing lower. A look at the closing levels shows: German DAX, -25.10 points or -0.17% at 14460.08 France’s CAC -15.14 points or -0.23% at 6485.31 Spain’s Ibex -19.3 points or -0.22% at 8724.81 Italy’s FTSE MIB -259.84 points or -1.06% at 24166 Looking

AUDUSD failed on break above 200 day moving average The AUDUSD yesterday first tested – and then broke – above its 100 day moving average at 0.72296 (top blue line on the chart above). The momentum took the price up to the 200 day moving average at 0.72561 (top green line) and ultimately above that

GBPUSD moves down to test swing area support after NFP The GBPUSD retraced Wednesday’s decline yesterday and in doing so move back up toward the 100/200 hour moving averages (blue and green lines in the chart above). Recall on both Tuesday and Wednesday, the price tested the 200 hour moving average before falling below that

NZDUSD moves up to test the swing highs from May The  NZDUSD  has moved to the upside and in the process is retesting the swing high from Tuesday’s trade and the swing high going back to May 5. Those levels are at 0.6563 up to 0.65677. The move to the upside has been strong. After

GBPUSD finds sellers against its 200 hour moving average Although the UK is on May Bank holiday and Jubilee holiday today and tomorrow, the GBP is the currencies. Looking at the GBPUSD, it is a similar pattern to the EURUSD. Yesterday, the price traded above and below its 200 hour moving average after holding support