Technical Analysis

GBPUSD retest its 100 hour moving average The GBPUSD has rebounded and in the process has returned to the highs for the day, and also erased the declines for the day. In addition the pair is retesting its 100 hour moving average 1.1520. On its way higher, the pair moved back above a swing area

USDJPY holds the 50% of the day’s trading range The USDJPY continued the trend to the upside today, but after stalling at/near the natural resistance at 145.00 (the high reached 144.984), the price has moved to the downside. In the process, the price moved to test the 50% midpoint of the move up from the

USDJPY trends hard to the upside The USDJPY is continuing its trend run to the upside reaching a new intraday high 143.068. That is also the highest level since August 1998. For your guide the high price in August 1998 reached 147.67. Looking at the hourly chart the price has been up 14 the last

EURJPY breaks above a topside channel trendline The USDJPY is on fire today and that is also helping to send the JPY crosses higher as well. The EURJPY is not the exception. Looking at the daily chart, the air moved back above its 100 day moving average last week (see blue line in the chart

My colleague Greg Michalowski has the day off for the US Labor Day holiday today but he produced a great video outlining the technical levels in play this week. I expect markets to quiet from here with OPEC and the UK PM selection wrapped up so it’s a good time to have a look at

The United States is moving toward higher interest rates at a greater level and speed than the lower Japanese interest rates, which is making dollar-denominated assets more appealing for investors. As a result, the Japanese yen has been falling in comparison to the United States dollar. But a pure technical analysis should not care. A

EURUSD trying to hold the 100/200 hour MAs The EURUSD him him him him pushed outside of the up and down trading range that has confined the pair since August 19. That trading range has a floor between 0.9899 and 0.9913, and a ceiling around the 38.2% retracement of the move down from the August

USDCAD corrects lower today The USDCAD has moved below the 100 hour MA at 1.30971 and below an upward sloping trendline on the hourly chart as well. The pair is testing a swing area between 1.3077 and 1.3092. That swing area goes back as far as to May 12 (not shown). There are a number

GBPUSD stallls at the low from yesterday. 6 days down. The GBPUSD has also been dragged lower on the back of the Russian pipeline news and in the process has moved down to test the low from yesterday at 1.14977. The low price just reached 1.14992 and stalled. For the trading week, the GBPUSD price

The major US indices are all closing lower. The NASDAQ is down for the 6th’s consecutive day. The index is down -7.98% from the closing level on August 25 The S&P and Dow industrial average fell 5 the last 6 trading days Energy led the S&P 500. Communication services was the big loser S&P 500

The Dow and the S&P snapped a 4 day losing streak with late day buying ahead of the jobs report tomorrow . The Nasdaq index was still down on the day and closed lower for the 5th consecutive. The good news is the market opened lower, the prices moved even lower before rotating higher and

Gold tests the floor. Key level going forward The price of gold on the daily chart moved toward lows on the daily from March 2021 and August 21, 2021 and again in July this year. The lows came in between $1676.91 to $1681.95. Today, the low reached to $1688.91, within $7 of the high of

USD/JPY retraced in July and looked to be retracing further earlier this month but a strong push higher at the end of the month pushed it back to the top of the range. That’s a bullish sign going forward and highlights how the Fed has successfully built a case for higher rates for longer. Technically,

The US stocks opened higher, traded negative, recovered back into positive terrritory and is now back in the red. The declines are led by the Dow 30 with Salesforce, Caterpillar and Chevron moving lower the worst performers Crowdstrike which reported better than expected results after the close last night are nevertheless down -5.26% highlighting the

AUDUSD tumbles lower The AUDUSD started the New York session as one of the strongest of the major currencies. At the highs the pair tested the 38.2% at 0.69537, but found sellers. The bullish fortunes reversed with the price moving back below the 100 and 200 hour MA (blue and green lines) That increased the

> Technical Analysis > What are the technicals that are driving the FX markets heading into the new trading day? Technical Analysis A technical look at the major currencies vs the USD for the Asia Pacific traders The EURUSD is trading above its 100/200 hour moving averages which is bullish, but remains below its 38.2%

USDJPY runs higher and tests the 2022 highs The USDJPY moved up to a high of 139.00 today. The pair extended above the high from July 21 at 138.87. The high price from July 14 reached 139.384. That was the highest level for the year and the highest level going back to 1998. The current

NZDUSD corrects to a swing area with more work to do. 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