NZDUSD is trading below its 50% midpoint The NZDUSD is ending the week near the lows for the week/year and lowest level since July 2020. Looking at the daily chart, the pair is also trading just below the 50% currently at 0.64655. Stay below and move lower next week and the pair will start to
Technical Analysis
The strongest to weakest of the major currencies The AUD is the strongest and the USD is the weakest after trading to highest level since the start of 2017 yesterday (the DXY index that is). The AUD was helped (a little maybe) by China State Council promising to support the economy. The move helped to
USDJPY holds onto most of the near 300 pips today The USDJPY moved nearly 300 pips today with most of that move being to the upside. Looking at the five minute chart, the pair closed at 128.42. The low price was just nine pips lower than that at 128.33. At the lows in the Asian
USDCAD moved up to a topside trendline on the daily chart Admittedly, the USDCAD daily chart is a thing of choppiness. There are plenty of up and down moves going all the way back to November and December 2020. While the US dollar is making multiyear highs against a number of currencies, the pair remains
AUDUSD toward a swing area The AUDUSD is looking to close lower for the fifth consecutive day although today’s decline would be modest. The current price is just four pips off it’s closing level yesterday at 0.7122. The price is traded mostly above that level today but has rotated back to the downside going into
Not every technical break is followed by a breakdown but the techncials and fundamentals were aligned for cable. The 1.30 level held on a bunch of tries but after the Bank of England recognized that it would be tough to curb inflation and avoid a recession, the breakdown began to happen. Sometimes the best trade
USDCAD bases against the 100 day moving average The USDCAD moved higher yesterday and away from it’s 100 day MA. The high yesterday stalled ahead of a lower swing area that is ahead of the extremes from 2021 in 2022. That swing area in the USDCAD comes between 1.27857 and 1.28132. In trading today, the
The price of WTI crude oil futures are settling at $98.54. That’s down $3.53 or -3.46%. The high price reached $101.55. The low extended to $95.28. The move lower was propelled by lockdowns in China and expectations of slower growth. Looking at the hourly chart, the low for the day stalled near a swing area
GBPUSD moves above 100 bar MA on 5-minute chart GBPUSD moved to the lowest level since September 2020 (see earlier posts here). At the same time, the price has been trending lower over the last two trading days and is able to stay below its falling 100 bar moving average on the five minute chart
GBPUSD falls to support target between 1.2828 and 1.2853 The GBPUSD moved sharply lower after retail sales came in much weaker than expected -1.4% versus -0.3% estimate. The price also got a kick to the downside after breaking below the 1.300 level and the low price from April 1.2971. The pair traded down to a
USDJPY is a stop between swing levels (38.2% retracement) The USDJPY in the Asian session moved up to test the swing highs from yesterday’s trade between 128.63 and 128.70. The high price today reached 128.685. Sellers leaned against the high, and the price rotated back to the downside The move lower in the late Asian
AUDUSD fell below its 200 day moving average The AUDUSD has just cracked below its 200 day moving average at 0.72926. The fall back below the level is the first since March 17. The move above the 200 day moving average on that they sent the price sharply higher, with the pair peaking at 0.76607.
USDCAD races to the upside The USDCAD today moved above its 200 hour MA (green line at 1.25904) in the Asian session, and in the process continued the trend move higher that was started yesterday. The break higher above the 200 hour moving average (green line) saw some consolidation, but the price based against that
USD is now the strongest of the major currencies The USD is making a break for it to the upside. In the current hour, the greenback is trading to new highs for the day versus all the major currencies with the exception of the JPY. It is now the strongest of the major currencies. The
The strongest to the weakest of the major currencies The JPY is the strongest and the GBP is the weakest as the NA session begins. The USD is just below the JPY as the strongest and the NZD and AUD are trending lower as well. In the Asian session, Japanese Finance Minister Suzuki escalated his
EURUSD stalls the fall at the 200 hour MA The EURUSD moved below the swing area at 1.08633 to 1.08728 and buyers against the area, turned to sellers on the break (see earlier post). The price moved down to the next target at the 200 hour MA at 1.08344. Dip buyers entered there and are
AUDJPY moved to the highest level since June 2015 this week The AUDJPY move to the highest level since June 2015 this week. The high price reached 95.736. The price has run up from 80.36 at the January low. That is a gain of 1537 pips. After the move to the highs yesterday, the price
Crude oil settles at $102.18 barrel The price of WTI crude oil futures for June settlement are up $0.14 at $102.19. The May contract which goes off the board today settled at $102.75 up $0.19 or 0.19%. The price action was up and down choppy today. The weekly inventory data showed a much higher-than-expected drawdown