Technical Analysis

US and Canada jobs reports due out at 8:30 AM ET/1330 GMT The GBP is the strongest and the EUR is the weakest as the North American session begins and traders await the jobs reports from both the US (NFP +50K est), and Canada (-37.5K net change in employment) to be released at 8:30 AM

EURUSD 100 hour moving average at 1.22825 The EURUSD has moved higher (lower USD) after the we can expected US jobs reports. The price range since the release has seen the price bottom at 1.22335.  The high price (and new high for the day) reached 1.22841. That is just above its 100 hour moving average at 1.22827 (see blue line in the chart

Weaker jobs picture ignored The US major stock indices are opening higher with S&P and Nasdaq indices trading at new record highs.   The markets are ignoring the weaker jobs report and looking forward to more Covid stimulus. The snapshot of the markets are showing: S&P index up 20 points or 0.50% of 3820.25 NASDAQ index up 90

Topside trend line stalls the rally The GBPUSD is moving back lower, after a topside trend line at the 1.3635 level stalled the rally. The price rotated lower and  and is now down retesting the 100 and 200 hour MAs at 1.3593 and 1.3582 respectively.   For the week the pair reached it’s high on Monday

USD/JPY extends its good form this week to touch 104.00 For bank trade ideas, check out eFX Plus Higher yields continue to fuel gains in the pair (and yen crosses in general) this week, with price now hitting 104.00 for the first time since 15 December. While the push higher this week has been encouraging

USDCAD falls below and away from the 100 hour MA The USDCAD moved above the 100 hour MA in the London morning session and stayed above that MA line for the most of the last 8 hours. Yes, there were dips below the level, but the price closed each hourly bar above the MA line

The dollar leads gains in European morning trade For bank trade ideas, check out eFX Plus Of note, USD/JPY is pushing to its highest levels in over a week as price touches 103.70 upon a break of its 200-hour moving average @ 103.26 earlier in the day. That puts buyers back in near-term control and

6 PM curfew and Virginia National Guard called in The US dollar has dipped modestly as chaos continues in Washington and specifically and and around the US Capitol.  There will be a 6 PM curfew and the US National Guard of Virginia have been mobilized.    Looking at the strongest to weakest rankings of the major currencies

AUD/USD trades to a high of 0.7815, the highest level since March 2018 For bank trade ideas, check out eFX Plus The market continues to stick with the reflation narrative on the session and that is leading to equities climbing higher after a bit of a pullback earlier on. Tech may be bearing the brunt

A break looks inevitable US 10-year yields have pushed to the upside in the past few hours but they’re still within the recent range. In the bigger picture though, the series of higher lows approaching 1%, paints a picture of a market getting ready to bust higher. If Democrats sweep tonight, that move will be

A bit of a rinse and repeat of yesterday perhaps? The greenback is keeping lower across the board to start the session, with the risk mood also reflecting a calmer mood after the retreat in trading yesterday. EUR/USD is looking to keep above its 100-hour moving average, trading at 1.2265-75 while USD/JPY is seen easing

Heavy selling kicks in All the positive sentiment in the market evaporated in a few hours. US equity futures were up more than 20 points in the premarket but case is now down by 40, trading an outside day on daily chart. I’m wondering how much that has to do with covid, how much is

Dollar slips a little further as we get into European morning trade The dollar is now down to the lows for the day, easing across the board to start the session. The drop comes as risk is also keeping in a better spot with US futures now trading up by 0.3% as we get things

Up from $1517.27 at the year end 2019 The price of gold is ending the year just under the $1900 level. The current price is trading at $1897.93. That is up $3.54 or 0.19%.  The high price today reached $1900.89. The low price extended to $1885.49.  For the year, the price at the end of 2019 closed at $1517.27. For the year the

GBP/USD trade to its highest levels since May 2018 but just be mindful that thin liquidity conditions are still prevailing this week For bank trade ideas, check out eFX Plus The push higher in the past few sessions owes more to do with the dollar slipping up rather than the pound surging, with cable now

Looking to go out for the year at the highs The AUDUSD is trading at the highest level going back to April 2018, surpassing the June 2018 high today at 0.7676 in the process.   The high price reached 0.76855.  The price trades just off the high at 0.7680. For the year, the low to high

GBP/USD moves back above 1.3600 in thin trading For bank trade ideas, check out eFX Plus The dollar is keeping weaker across the board as its struggles going into the year-end continues, with EUR/USD having neared 1.2300 earlier and GBP/USD now climbing back above the 1.3600 handle in European trading. The pair looks towards the

The range is 2215 pips, but only up 224 pips from the close of year 2019 The GBPUSD had a volatile down and up trading year that saw the price open the year at 1.3257. The high on the first day of the year reached 1.32656 and that was the high until August 19 when