Technical Analysis

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 USDCAD has now retraced the earlier gains in trading today. The price is now down testing a swing area between 1.3604 and 1.3615. A move below that level will have traders looking toward the 38.2% retracement of the move up from the December 2024 low to the high price reached in April. That level

The USD has reversed back to the downside versus the major currencies. In this updated technical look, I outline how the technicals have helped to reverse the markets, and in some cases reverse the gains turning the buys back to the downside for the greenback, and for others, move to the target support/resistance. In this

The USDCHF moved lower with the USD selling earlier today, and in the process moved down to test the 200 hour moving average at 0.90653. Support buyers leaned against the level and pushed the price back higher. The pair is trading between the 100/200 bar MAs on the topside at 0.9091 (and a swing area

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

In the kickstart video today (CLICK HERE), I spoke to the corrective move lower in the EURUSD and what needed to happen to either give the sellers more control, or keep the buyers in control. More specifically, I spoke to the 5-minute chart below, showed how the 100/200 bar MAs were holding resistance once broken

The move to the upside continues and the major indices are not on pace to all close at record levels today. Dow record high close coming into the day was at 39807.38. The index is up 274 points at 39832 currently. Both the Nasdaq and S&P closed at record levels yesterday. ANything positive today would

The NZDUSD is racing higher today as “risk-on” flows = Buy NZDUSD (at least today). Technically, the price moved back above the 100 day MA at 0.6088 and then the 50% of the move down from the December 2023 high at 0.6109. Those levels are now close risk levels for buyers. Staying above give the

Fundamental Overview Yesterday, the USD weakened across the board following the US PPI release where the data came in line with expectations. The reaction showed that the market is eager to buy risk and that even little signs of better inflation figures can trigger positive risk sentiment. This will be important to remember in light

USDCHF technical bias is shifted to the sellers. Near the start of the US session, the USDCHF was testing the 100/200 hour moving averages (MAs – blue and green lines in the chart above). After falling below these levels, the price moved down to test the high of a swing area between 0.9048 and 0.9056.

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 NZDUSD is staying below its key 200 day moving average of 50% retracement target. Those levels, are between 0.6033 and 0.6035. The high price today stalled at 0.6030. Stalling against the area, keeps the sellers in play. Going forward it would take a move above that level – and staying above – to increase

The USD weakened across the board yesterday following a notable miss in the US initial claims data as that added some more pressure on the USD with the market weighing the possibility that the labour market could weaken fast enough in the next months to justify more rate cuts than expected. Overall though, the price

The USD weakened across the board yesterday following a notable miss in the US initial claims data as that added some more pressure on the USD with the market weighing the possibility that the labour market could weaken fast enough in the next months to justify more rate cuts than expected. Overall though, the price

In the kickstart video for April 10, I take a look at three of the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. In this report, I also take a quick look at the USDCAD after it’s stronger than expected April jobs report which showed a gain of 90.4K –

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

EURUSD falls back to support targets after resistant test The EURUSD moved higher in the early US session reaching a new intraday high of 1.07895. That got within a paper so of the 50% midpoint of the move down from the March 2024 high to the April 2024 low at 1.07906. The 200 day moving

The University of Michigan inflation expectation data sent the US dollar higher and the AUDUSD and NZDUSD pairs lower. Those moves to the downside, extended each pair to new session Lois, and in the process, each are also testing their 100-hour moving averages. Both also have found some risk-focused buyers leaning against the moving average