EURUSD above key MAs and trend lines… The EURUSD peaked on September 1 at 1.20105. The move above the key 1.2000 level was short and sweet (only a part of an hourly bar). Looking at the daily chart above, the subsequent move lower took the price last week to a low of 1.17518. That was
Technical Analysis
The 100 week MA comes in at 1.27448 The GBPUSD’s high for the week was on Monday at 1.3256. The low was reached on Friday at 1.27614. The high to low trading range was an oversized 515 pips (highest since March 22 week). The price action was a trend move lower (although Wednesday did close
New lows of the day Stocks are in charge at the moment and the fresh weakness has sent commodity currencies to fresh lows and cable continues to take an absolute beating, down almost 200 pips. Yesterday’s stock market price action was all about filling in the opening gap from Tuesday. Today’s is all about falling
EUR/USD buyers look to seize back near-term control The dollar is easing to fresh lows to start European morning trade, with EUR/USD rising towards 1.1850 now and challenging a potential break back above its 200-hour moving average @ 1.1841 (blue line):For bank trade ideas, check out eFX Plus This comes as European equities are also
Cable is lingering at session lows just below 1.2800 currently GBP/USD is down to a session low of 1.2785 as the pound is struggling to for respite amid the ongoing Brexit uncertainty seen throughout the week. The pair is sitting lower despite the fact that the dollar is seen weaker for the most part against
AUD/JPY didn’t make a significant move and USD/MXN keeps breaking down It was a whirlwind week but if you take a step back, there were really three themes: Tech stock weakness, a drop in sterling and oil softness. You can strip all those things out as idosyncratic factors and then you’re left looking at something
EUR/USD moves to a session high of 1.1874 For bank trade ideas, check out eFX Plus Dollar weakness is partially the story here but the euro is keeping up with gains seen in commodity currencies so far on the session, amid the more upbeat tone in US futures with S&P 500 futures up ~0.9% and
Not a pretty day Yesterday we filled Tuesday’s gap lower. Today we filled Wednesday’s gap higher. The S&P 500 is down 65 points to 3334, or 1.9%. It’s nearly 100 points from the highs of the day. Looking at the euro, the climb on Lagarde’s comments was the ‘right’ trade, even if it didn’t change
EUR/USD price action is trapped in between its key hourly moving averages The pair is sitting a little higher on the day, trading around 1.1820-30 levels in European morning trade so far but the technical bias isn’t hinting at much for now. The bounce from yesterday comes after the pair met daily support from the
Little support seen in cable as the fall under 1.30 continues For bank trade ideas, check out eFX Plus The bill has caused a major ruckus among EU and UK lawmakers over the past week, and in turn has sent the pound into a tailspin as the decline continues today. Cable is down 0.4% to
EUR/USD is a little lower on the day but nothing too significant for now For bank trade ideas, check out eFX Plus The pair is a tad lower on the day around 1.1760 levels, but sellers are not really pushing for heavy downside pressure below 1.1800 for the time being. The ECB rhetoric has been
Time for a retracement USD/CAD is the most interesting chart out there right now. The pair retraced the entire year-to-date move in a 1600 pip round trip that briefly broke 1.30 last week. However that level may be setting up a double bottom on the chart. In addition, the downtrend that started March 19 has
Oil down by a little over 3% to its lowest level since 29 June For bank trade ideas, check out eFX Plus The technical story in oil has been a really interesting one throughout August trading until now. Buyers kept a break above $40 but have been unable to firmly break above the 5 August
The MA line held support in trading today The price action is limited as the US and Canada are on holiday (and that tends to influence trading activity globally). The USDJPY range today is only 25 pips. The average over the last 22 trading days (about a calendar month) is 67 pips. So what can
Cable falls to a session low of 1.3175, testing the low on Friday For bank trade ideas, check out eFX Plus The pressure is starting to build for the pound now as sellers are threatening a further move to the downside, in search of a firm break under the 1.3200 handle. The Friday low @
Out of synch with oil The price of the USDCAD has moved down to test the 100 hour MA at 1.30703. The run lower (higher CAD) is running counter to the price of oil which has slumped in trading today. The price of crude is currently down -$1.57 ro -3.8% at $39.79. Watch the level
Rotation lower after spike higher stalls ahead of the week’s high The USDJPY spiked higher in the early NY session on the dollar buying trend, but after the pair could not extend above the high from Thursday and USD selling returned, the price of the pair followed the leaders (or others) and moved back lower
Down -$1.60 or -3.87% The price of crude oil futures are settling at $39.77. That is down -$1.60 or -3.87%. The high for the day reached $41.87 and the low extended to $39.35. A week ago the price for the October contract closed at $42.97. Today’s close was the lowest since June 30. The price