Technical Analysis

Last week, the NFP missed expectations for a second time in a row and the previous numbers were all revised lower. This was seen as a disappointment as the labour market seems to be a touch weaker than previously expected. Nonetheless, the unemployment rate fell once again and lessened the disappointment from the miss in

The AUDUSD followed the trend in the US dollar to the downside, but Azucena reversal over the last few minutes. Technically the price moved above its 100-hour moving average of 0.65975. It also moved above a swing area between 0.6595 and 0.6603. The high price reached 0.6607 but has since rotated back to the downside

EURUSD on the hourly chart The EURUSD dipped lower as popost-jobsolatility takes over. The technical’s are also in play in the EURUSD pair. The run to the upside today was able to extend above its 200 hour moving average and 38.2% retracement of the move down from last week’s high at 1.1002. The break that

EURUSD trades to a new session high The EURUSD has extended to a new session high as London/European traders look toward the end of week. The price is approaching the swing high from Monday near 1.10449. The high price from last Friday reached 1.10467. The 38.2% retracement of the move down from the July high

The GBPUSD is higher on the day and in the short term, the buyers are “in play”. Trading above the 100 hour MA tilts the bias in that direction but there is work to do. Looking at the daily chart, the technical picture is more in the buyer’s favor. What I like about it technically,

The EURUSD wandered lower this week and in the process dipped below the 50% midpoint of the range since the 2021 high on the daily chart at 1.0942. What the price in the EURUSD could not do is stay below the rising 100-day moving average currently at 1.09193. That moving average was tested on Wednesday

Last week, the Fed hiked the interest rates by 25 bps as widely expected keeping everything unchanged. Fed Chair Powell reiterated their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been pretty solid and the labour market indicators keep on running hot. This week we

The AUDUSD is trading up and down today. The price has moved up more recently extended to a new session high. In the process, the pair is tested the low of a swing area between 0.65586 and 0.65667 on the 4-hour chart below. A move of the swing area would have traders targeting 0.65785 followed

The OPEC+ production cuts and the expectations of more economic stimulus in China, gave Crude Oil enough strength to break above the key resistance zone around the $75 level. After a brief rally, the price stalled and reversed as the PBoC held off from delivering more rate cuts. Last week though, China has promised more

The price of WTI crude oil futures are settling at $79.49 a barrel. That’s down -$1.88 or -2.31%. The low price today came in at $79.05. The high price was at $82.43. At the high, the price tested the low of a swing area on the daily chart between a $82.43 and $83.44 (see chart

Last week, the Fed hiked by 25 bps as widely expected and left everything unchanged. Fed Chair Powell in the press conference just reaffirmed their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been supporting the soft-landing narrative as the labour market data remained strong

EURGBP takes out levels but needs more momentum The EURGBP is running higher today. The pair has been waffling up and down over the last 5 trading days. Today, the price broke above its 100 hour moving average of 0.85714 (blue line in the chart above), and has continued to step higher. That move has

The NZDUSD is closing today higher. The currency pair is up 0.70%. The move to the upside saw the pair extend above 3 separate moving averages 100-hour moving average at 0.6198 200-hour moving average of 0.62089 200-day moving average of 0.62215. The high price reached 0.62246. That was still short of a downward-sloping trendline and

EURUSD expands the range today, but still above support The EURUSD started the US session with a low at 1.1004 and just above the 61.8% retracement at 1.1002. The high was at 1.1037 which was just short of the 100-hour MA. That was a narrow range of only about 33 pips In the NY morning

Last week, the Fed hiked the interest rates by 25 bps as widely expected. The market was more focused on the Fed Chair Powell’s press conference for signals on the future moves. Unfortunately, Powell didn’t offer anything for the market as he kept all the options on the table and just repeated their data dependency

The Bank of Japan met and eased their yield curve control on the 10 year effectively expanding their tolerance by a further 50 basis points to 1.0%. That news – and the other news this week – has the pair moving back toward a neutral level after up-and-down-volatility. The pair is trading near the 38.2%

It is Friday, so it is a good time to look back at the price action this week and then look forward to what the price action tells us going forward into the new trading week. Looking at the GBPUSD on the hourly char this week this weekt above, the price today moved to a

The USDJPY traded to a new low today, and also equaled the high for the week. The day has been volatile, but is more bullish heading into the close and the new trading week. What does the price action and technicals say for next week’s trading? This video will define the bias, and outline the