Technical Analysis

The NZDUSD has seen a number of ups and down in recent trading. That pattern continued in trading today with up-and-down price volatility. The most recent “run” has been to the downside (see hourly chart below), and that move has taken the price back below the 100/200 hour MAs. The 100-hour MA is at 0.61924.

The NZDUSD has seen up-and-down price action today, with the last push to the upside. That move was helped by support holding against the 200-day moving average of 0.6153. There were three separate tests of that moving average in trading today, and each dip found willing buyers against the moving average level. In the last

The USD was mixed at the start of the trading day. Below are was the dollar changes vs the major currencies near the start of the US session. The USD at the start of the US trading day Looking at the snapshot of the strongest to the weakest now shows the USD is lower against

The USDJPY has been stepping lower today after trading at the highest level since November 2022. That high price at 142.247 bested the November 21 high at 142.246 by the slimmest of margins, but quickly turned around (see daily chart). USDJPY stalled at the high from November 2022 The subsequent move to the downside has

NZDUSD looks back to the 200 hour MA The NZDUSD stepped lower and is trading down for the 3rd consecutive day after a run above the 100-day moving average last week failed. (100-day moving averages at 0.62129). In trading today, the Asian session saw the price test its 100-hour moving average (currently at 0.62046). Sellers

The Fed has eventually paused its tightening cycle at 5.00-5.25% because it wants to see more economic data before deciding on another hike as they are trying to find the right level of restraint to bring inflation down without too much economic pain. The BoE, on the other hand, is on track to keep raising

AUDUSD shows a crack The AUDUSD has been up 10 of the last 11 trading days. The move from the low reached 0.6457 on May 31, and reached a high of 0.6899 today. That is a move of 442 pips. Technically looking at the daily chart, the price today moved above the 61.8% retracement of

As the clock ticks to the weekend, what are key levels in play and why now and heading into to the new trading week for the GBPUSD? This week, the price of the GBPUSD moved above the 61.8% of the move down from the 2021 high to the 2022 low. That level comes in at

The price of crude oil is settling at $71.78. That is up $1.16 or 1.64%. The high reached $72.01. The low price was at $70.18. For the trading week, the price is up $1.76 or 2.52%. The low price for the week was reached on Monday at $66.82. The high price was today’s high at

As we turn the page into a new trading week for the GBPUSD, what are key levels in play and why? This week, the price of the GBPUSD moved above the 61.8% of the move down from the 2021 high to the 2022 low. That level comes in at 1.2760 and is now close support

The EURUSD made it’s week’s low on Monday, and reached the pairs high to day. The move higher has taken the price back into a consolidation area going back to May. The low of that consolidation range will be the key barometer for buyers and sellers going into the new trading week. The video above,

The major JPY crosses all had huge weeks to the upside this week. Today, the BOJ kept rates and their yield curve control steady. They expect inflation to move lower. Ueda acknowledge the lower JPY but said there are goods and bads in currency moves. The USDJPY is higher by 1.74%, but it is the

The Federal Reserve this week was a bit more hawkish by keeping interest rates steady at 5.00-5.25 but raising their projected terminal rate by 50 basis points in the Dot Plot. The FOMC decided to take a pause in this meeting to gather additional economic data before deciding on a possible interest rate hike in

EURUSD tests the topside swing area. The EURUSD has extended to yet another new high end and the process is testing the next target swing area between 1.0933 and 1.0942. I outlined this level in the earlier post/video (see video here). The area was a solid floor gone back in time before breaking on May

There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets: In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered. EURUSD: The EURUSD moved

EURUSD buyers are more in control. So what levels are in play through the FOMC rate decision? The EURUSD extended up to – and then through – the 200 bar moving average on the 4 hour chart at 1.08334 (see green line on the chart above). The price has moved to a high of 1.08637.

Crude oil is higher in the day but below 38.2% retracement The price of crude oil did rally sharply today with the price settling at $69.42 up $2.30 or 3.43%.The high price extended to $69.83. The low was at $67.15. Looking at the hourly chart above, the run to the upside today stalled just short

USDCHF sloppy trading has settled between swing areas. The USDCHF is lower on the day retracing most of the gains seen yesterday when the CHF was the weakest of the major currencies (higher USDCHF). The move higher yesterday stalled near the swing highs from Thursday and Friday of last week (see chart above). The high