50% retracement target The S&P is down -23 points and down about -0.80%. The Nasdaq is down -119 points or -1.52%. The USDJPY has moved to new session low on the moves. The pair is down testing the 200 hour MA and the 50% of the move up from the September 27th low.
Tests lower trend line on the hourly The EURGBP has moved to a new session lows and trades at the lowest level since June 25th. The run today, has taken the price below the 200 day MA (in the Asian session/early European session) at 0.8836. That got the ball rolling. The low just extended to
USD/JPY at the worst levels of the day USD/JPY is down 25 pips to 113.67, just above yesterday’s low of 113.63. I wouldn’t expect too many stops if support is broken. There’s more support at Wednesday’s US low of 113.52 and Treasury yields are higher. Watch for any flows around the London fix at 1500
AUD/JPY technical analysis AUD/JPY had a nice run from September 7 to September 26 as it climbed to 82.50 from 78.69. However at the top it stalled and then this week formed a double top. That has kicked off a reversal that sent the pair down to 80.50. The drop incudes an 82 pip decline
What are the technicals saying The US stocks are having rough day of it today. The news that China has added spying chips to some Apple and Amazon products been a catalyst. Maybe you blame the run up in rates as well or the more hawkish talk from Fed’s Powell. The selling is picking up
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AUD/USD breaks the September low and falls to its lowest levels in 2.5 years ForexLive A painful week for the aussie just got even worse. The currency continues to be weighed down by a myriad of factors but the key one at play over the last two days have been that of yields. Or more
Higher yields may be starting to take it’s toll. The USD is now the strongest currency of the majors. The S&P index dipped into the red with 30 minutes to go in the day. The price is testing a trend line. The 100 hour MA is down at 2917.96. The last two tests stalled near
The USD is mostly higher The GBP is the strongest currency as NA traders enter for the day. The USD is on it’s heels and catching up after the better ADP numbers this morning ahead of the US jobs report on Friday. The NZD is the weakest. The ranges for the major pairs vs the
The euro leads gains ahead of European trading ForexLive The single currency spiked higher on the back of a report by Corriere stating that Italy may cut its budget deficit to 2% in 2021. The thing about a report like that and the reaction seen here is that it tells you a lot about market
Price trades between technical extremes The USDJPY earlier today, fell back below a broken trend line. That tilted the bias lower (see earlier post). In the NY session, the price pushed to a new session low but stalled ahead of the next key target at the 100 hour MA and 38.2% retracement at 113.485. The
Tests 200 bar MA on 4-hour chart. The speech by Boris Johnson is over. He did not tip the political boat over. He is not in agreement with the Chequers plan still, but did express “some” support for “May’s original plan” and said we should get behind her on that plan. Technically, looking at the
A technical technical look at the ozznAustralian dollar from SG, psoting this ahead of the RBA Société Générale nominate support and resistance ahead: R 0.7330 0.7385/0.7400 0.7430 S 0.7170 0.7140 0.7095/0.7100 Comments from SG: AUD/USD has tentatively probed the graphical support of0.7140/0.71 which represents the lows of May / December2016. In case of definite break
USD/CAD down 123 pips on the day USD/CAD is at the worst levels of the day, down 123 pips to 1.2785. The chart shows the break of the Sept/Aug lows and the 200-day moving average today. Combined, that’s a very powerful negative signal. The next level of support is lighter at the May lows near 1.2730
EUR/USD pares earlier losses and moves higher ForexLive Of note, the pair has bounced off the support region close to 1.1575 and forms a bit of a double-bottom pattern. Price has now recovered back above the 1.1600 level and the next key level for buyers to aim for will be the 100-day MA @ 1.1650.
The low was in the first hour of trading this week. The high will be the last hourly bar. The USDCHF is not yet done. The pair’s first hourly bar on Monday traded to a low price of 0.9572. That was the low for the week. As the market heads to the close for the
100 and 200 hour MA stalling the rally The NZDUSD fell toward the 0.6600 level earlier today and in the process tested the swing low from September 20 and a lower channel trend line (It was also a 50% retracement level. I outlined the level in a post yesterday – CLICK HERE). The rally off
Bounced off the underside of trend line on the daily. And above the intraday resistance. In an earlier post, I spoke of the test of the underside of the broken trend line at the 1.1569. The low of the EURUSDs move bottomed there. The move higher off that low, has now taken the price above
Topside trend line eyed The price of USDJPY have moved back higher, helped by a recovering stock market (Dow, S&P and Nasdaq are now all higher on the day). The price just cracking to a new high for the day (above 113.626) and looks to test a topside trend line on the hourly chart at
The high yesterday stalled between the 100 and 200 day MA. The price of Tesla is trading sharply lower on the back of the law suit filed against Elon Musk for fraud. The suit says that Musk issued “false and misleading” statements. That he failed to properly notify regulators of material company events. The SEC even
Third day of losses in cable GBP/USD is at the lows of the day, down 63 pips to 1.3016. Today’s decline cut through the Sept 20/23 lows at 1.3055 and the selling has been relentless since. Quarter-end flows could be the story but it won’t be clear until next week. Watch for a quick move
Italian assets are being routed badly on the day and that is seeing some risk off tones across markets ForexLive Italy’s FTSE MIB is now down 3.8% on the day as bank stocks were called limit down and trading was halted earlier. The index is headed for its biggest one-day loss since June 2016 if
100 day MA at 1.1654. Swing lows from Sept 18 and 19 The EURUSD has continued the grind lower and now tests the key 100 day MA at 1.16543. Swing lows from Sept 18 and 19 are also in play at 1.1649. There should be a stall at the area with stops on a break.
RBNZ decision does not help the upside The NZDUSD is trading near the lows for the day at 0.66193. The RBNZ decision did not help the upside for the NZDUSD. They still expect that rates will likely stay on hold through 2019 and into 2020. That is a long time. Moreover, other news out of NZ suggested
AUD/USD trades near the lows for the day ForexLive Italy’s budget worries have weighed on risk sentiment to start the day and the aussie was not spared in the shift by markets to a more risk off tone. AUD/USD was sent lower earlier in the session to touch a low of 0.7222 and continues to
No change expected If the whippy action for the USD is repeated in New Zealand after the RBNZ rate decision, you might want to wait it out. However that does not preclude traders from being aware of the levels that should lead to a more bullish or bearish bias. It will be up to the
EURUSD, GBPUSD, AUDUSD, NZDUSD move to dollar low levels The initial reaction to the dollar is to the downside as the Fed removes the word “accomodative” and that is seen as dovish. The EURUSD hasd moved to a new session high and looks to test the 1.1800-147 area (highs from last week and Monday) .
GBP/USD touches a low of 1.3153 on the session ForexLive And price is testing a move to break below the 100-hour MA (red line) @ 1.3160 currently. Treasury yields are down to session lows on the day, with 10-year yields down 1.3 bps to 3.083% and that’s weighing on yen pairs as European equities also
A snippet from SG on the Australian dollar. I was particularly interested in what they had to say about the 0.7300 area Turns out, not a lot.Ah well. Société Générale nominates resistance levels: 0.7385/0.7400 0.7430 0.7486/0.7500 Support: .7140/35 0.7165 0.7220/15 AUD/USD has tentatively probed the graphical support of 0.7140/0.71 which represents the lows of May
Trades above and below the 100 day MA The GBPUSD is higher on the day, but the rally higher – although it took out yesterday’s high – stalled ahead of the 50% retracement of last week’s trading range at 1.31759. The price has rotated back down toward the 100 and 200 hour MA (at 1.3156