AUDUSD trend line at 0.7191. 200 day MA at 0.71956. The AUDUSD moved up to a high today at 0.71917. That was just above a trend line connecting the June, December and January highs at 0.7191. Just above those levels sits the 200 day MA at 0.71956. Needless to say 0.7191-96 is a key resistance
100 and 200 hour MA, trend line and 38.2% retracement on the hourly chart tested The USDCHF has moved lower with the lower dollar today. In the process the pair has recently moved below the 100 hour MA and a trend line connecting lows from April 1, April 9 and April 10. It has been
Can the underside of the broken trend line stall the fall around 1.3100 area? The GBPUSD moved higher in trading today and in the process broke above a trend line connecting highs from March 27, April 4 and even today (at 1.3098 currently). The price also moved above a swing area defined by swing lows
Cracked above the April high and stayed above The USDJPY cracked above the April 5 high at 111.818 and stayed above today. It wasn’t without first testing it in the Asian session first. That increases that levels importance. Stay above and the bulls remain in control. PS the low today based at another key swing
Shorts squeezed The EURUSD is soaring in higher in trading today helped by risk on flows and technical breaks. Technicaly, the price was able to get above – and move away from the 1.1285 area that has been a ceiling of late for the pair. After that, the pair cracked above a topside trend line
AUD/USD touches a high of 0.7168 on the day ForexLive Risk-on flows continue to be dominant and the aussie may very well be set for a strong bullish breakout if this keeps up. The more anticipated chart will be AUD/JPY as it looks to break away from its range seen this year as highlighted here.
New lows for the EURUSD The EURUSD has moved to a new session low and in the process has move below the 100 hour MA (blue line at 1.1258) and an old floor/ceiling from last week/earlier this week (at 1.12543). Stay below now, keeps the sellers in control. On more selling, the trend line and
Crude slips below key level Oil is in retreat today after weeks of gains. A look at the daily chart over the past six months shows a bust-and-boom trade. The key level for me is $63.67, which is the 61.8% retracement of the Q4 plunge. We broke it late last week in fairly emphatic fashion
Cable bounces back up to 1.3088 from a low of 1.3061 earlier ForexLive The pound is the notable mover as markets continue to stay quiet, with cable bouncing back from lows earlier paring losses to be unchanged on the day once again. The pair was defended by the 100-hour MA (purple line) as highlighted earlier
Stalled at the 61.8% and swing highs. The GBPUSDs ups and downs continue as the EU Summit progresses. The most recent run higher took the price to the the swing areas at 1.31154 to 1.31209. The high price reached 1.31192, stalled and the price moved back down. Earlier in the NY session, the price fell
Earlier gains turned to losses The dollar continues to weaken. Looking at the % changes of the major currencies vs each other and ranking the cumulative % changes, the USD is the second weakest of the majors (behind the CHF). Looking at the snapshot of the major pairs vs the USD, most of the pairs
GBP/USD got a minor pop higher on UK February GDP figures but they aren’t as great as the headline suggests ForexLive Cable moved up from 1.3060 levels to a high of 1.3083 after UK February GDP beat estimates but once again this owed much to a boost in manufacturing activity, which is basically pumped higher
Technically speaking They suggest: Selling the pair on a small rally to 126.20 Target at 123.65 and Stop at 126.90. What is may take? From my technical perspective, I like the sell, and the highs from today were a decent level to do that. Looking at the hourly chart above, the highs today (and yesterday)
Down -$0.42 or -0.65% The price of crude oil is settling at $63.98. That is down $.42 or -0.65%. The high reached $64.79 today. The low extended to $63.68. Technically, looking at the hourly chart below, the highs today found sellers near a topside trend line connecting highs from March 26, April 2 and April
Cable moved up from 1.3060 levels to a high of 1.3122 ForexLive And price is now looking to hold above the 1.3100 handle with the near-term move also looking to hold a break above the key hourly moving averages. That would put the near-term bias in the pair to being more bullish. I’m still a
200 day MA is at 0.6730. 100 hour MA and 200 hour MA remain as hurdles above The price action in the NZDUSD was only worth 31 pips from the low to high today. That is below the 53 pip 22-day average (about a month of trading). The low extended to 0.6722. The high reached
Intraday support also keeps the track to the upside The AUDUSD is back up testing the ceiling area in the 0.7128-309 area (see yellow area in the chart below). That area is home to swing highs from last week’s trading. As outlined in an earlier post, on the 5-minute intraday chart, the price moved above
Price continues to hug the key hourly moving averages ForexLive Buyers and sellers are continuing to battle it out around the 100 and 200-hour moving averages (red and blue lines respectively) to start the new week. Friday’s US jobs report failed to offer anything too new to traders and that leaves the near-term bias in
Up down since the morning employment reports The US was not the only country to report unemployment statistics. In Canada, after string of 6 months of employment gains and two months where gains were an oversized 66.8K and 55.9k (in November the gain was 78.4K as well), the jobs numbers showed a decline of -7.2K
GBP the biggest loser The GBP is going out weak as London/European traders exit for the day. Looking at the changes and ranges charts above, the GBPUSD, EURGBP, GBPJPY, GBPCHF are all trading at low level extremes for the pound. The GBPAUD and GBPNZD are lower, but those pairs are also on the weak side.
…recent swing lows in play at 0.70957-973 The AUDUSD is below its 100 and 200 hour MAs at 0.7103-05 respectively. The sellers are trying to take more control below those MAs… However, looking at the hourly chart above, the lows since early Wednesday, have beein the 0.70857-973 area. We just moved down to a day
New Zealand dollar sinks Keep an eye on the New Zealand dollar today as it nears the February low. The 200-day moving average hasn’t been particularly consequential in the past five months but a break below the February low of 0.6720 and the late-January low of 0.6707 might clear the way for a retest of
The 1.3013 -13 area is a swing area that is starting to be tested The GBPUSD is trading at a new session low and in the process is starting to test a swing area in the 1.3013-1.3013 area (just traded down to 1.3013 level). The run lower today has tilted more bearishly to the downside.
The EURUSD range for the week is still only 71 pips The employment number has come and gone with enough ambiguous stuff to make a run higher or lower, hard to figure. Job growth was decent/strong. Earnings was not great (in fact it was bad). The Fed is concerned about inflation and will let the
USDJPY moved lower and then shot higher after US jobs report. Trades to fresh highs The USDJPY moved lower to 111.51 (new day low) and then shot higher (new day high) after the US job report. The new low took out the Asian low by 8 pips (was 111.592). That low got close to the
EURUSD remains below its 200 hour MA and waiting for the next push The EURUSD for the last 55 or so hours has been trading in a 50 pip trading range (give or take). The range for the week is only 71 pips. That is not a heck of a lot of action. The sideways
GBP/USD pares earlier gains and moves back to unchanged levels today ForexLive The pound is failing to see much upside as May offers to delay Brexit until 30 June in a letter to European Council president, Donald Tusk, this morning. Cable rose earlier in the day to a high of 1.3123 after Tusk was reported
Gold falls to $1284 from $1294 Gold is $10 off the highs in a quick move lower that accelerated after strong US initial jobless claims. The broader theme of optimism is diminishing the chances of a Fed rate cut and that makes gold less attractive. Technically, there are some reason to think about being bearish.
USD/JPY hovers just under the 200-day moving average still ForexLive With risk sentiment looking a bit heavy and sluggish today, there isn’t much movement in yen pairs so far in the European morning. USD/JPY holds in a 18 pips range but sits slightly on the lower side at the moment with Treasury yields a little
EUR/USD continues to knock on the door of the 200-hour moving average ForexLive But so far, sellers are prevailing at the key near-term level in preventing the bias from turning more bullish. As the market focus starts turning towards the US jobs report tomorrow, price action could very well just center around levels between the