Technical Analysis

The USDJPY corrected higher since the start of the US session, and ran into resistance above between 157.40 and 157.464. Buyers turned to sellers against the level. Going forward, that swing area will be close resistance not only today but in the new trading week. If broken, traders would look toward the May 29 high

Apple broke higher this week on the back of the new AII news for the company (and its products announced ar the World Wide Developers Confeence. Fundamentally, the hope is the new AI initiatives will stir a new round of product upgrades for its user base. That is something new vs what has been ho-hum

The Michigan survey numbers were much weaker than expectations. Despite the sharp declines, the dollar is steady and trading near highs vs the EUR and GBP. The Michigan survey may be losing some of its bite as politics takes control going into the election. If you are Trump supporter, the situation is dire. If you

The NZDUSD has corrected lower today after extending to a key swing area yesterday on the better CPI and finding sellers. The move lower today has moved down to test the 200-hour MA at 0.6162. Yesterday, the price moved above that MA level on the back of the tamer CPI data. Buyers on the dip,

The USDCAD has moved up and down since mid-April. Most of the trading has been between 1.36049 and 1.3803 (around 200 pips) in between 6100 and 200 bar moving averages on the 4-hour chart near 1.3685. Prior to the FOMC rate decision and after the US CPI data yesterday, the price move down to test

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The USD moved lower after the tamer than expected US CPI data. The Fed now has 2 successive months of easing inflation and that is despite a 0.4% rise in shelter (if only that cracked). The data helped to push stocks higher in pre-market trading (S&P, Nasdaq are trading a new all-time highs). Yields are

The NZDUSD fell sharply on Friday and fell below its 100-bar moving average on the 4-hour chart. That level comes in at 0.6136. The first two days of the trading week has seen the price move up toward that moving average level. The price of the EURUSD got within four pips of it in trade

The USDCHF trade in a narrow range to start the North American session (only about 24 pips which is less than half of what is normal) however the price is back above its 200 hour moving out at 0.89641. If the price can stay above that level and then extend above the 38.2% retracement of

The GBPUSD moved lower in the Asian and early morning European session, but stalled the fall after buyers leaned against a swing area between 1.2674 and 1.2685. The 38.2% retracement of the move up from the May 9 low is also in that area. The subsequent bounce has taken the price up to retest its

In the kickstart FX trading video for June 10, I take a look at 3 major currency pairs – the EURUSD, USDJPY and GBPUSD. The EURUSD is sharply lower as the markets reacted negatively to higher rates and the European elections. France’s Macron called a snap election of the parliament on the results which shifted

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The Canada jobs report came in more or less as expected. However, the US jobs report was stronger. That has the US dollar higher, including the USDCAD. However, traders are running into swing area resistance defined by recent highs from the last three trading weeks. Those highs come between 1.3733 and 1.3742. It will take

Major US stock indices have now erased all the declines. The gains are led by the Dow Industrial Average retreated up 0.56%. The NASDAQ index is now up 0.14%: Dow Industrial Average average up 213 points or 0.56% at 39096 S&P index up 16.10 points or 0.30% at 5369.50 NASDAQ index of 23.76 points or

EURUSD reaches 100 day MA The US non-farm payroll came in stronger than expected. That sent the USD higher and the EURUSD to new lows for the week. The move lower has now reached to – and now through – the 38.2% of the move up from the May 1 low. That level comes in

The AUD is one of the weakets of the major currencies (along with the NZD). Commodities are sharply lower on the back of the higher dollar/higher rates/a more stubborn Fed. Technically, the price has moved lower to test a cluster of support including the 38.2% retracement at 0.6579, a swing area between 0.6579 to 0.6585.

The strongest to the weakest of the major currencies As the North American session begins, the JPY is the strongest and the NZD is the weakest of the major currencies the USD is in the middle little changed with gains vs the CHF, CAD, AUD and NZD and declines vs the EUR, GBP, and JPY.

Crude oil futures are settling at $75.55. That is up $1.48 or 2.0%. The high price today reached $75.79. The low price was at $74.06. The price bottom this week at $72.48 on Tuesday. For the trading week the price is still down -1.9% or $-1.46, but well off the low of $-4.51. Crude oil