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

As the NA session begins, the CAD is the strongest and the NZD is the weakest. The USD is stronger a day after Fed Chair Powell tapped the brakes saying that two 25 basis point cuts were likely if the trends continue. Powell indicated that monetary policy will gradually move toward a neutral stance if

Crude oil settled today just one cent lower at $68.17. The low price today reached $67.60. The high price reached $69.18. At session lows, the price stayed above a swing area going back to 2023 between $66.76 and $67.51. On both Thursday and Friday of last week, the price stalled within that area and bounced

As the NA session begins, the EUR is the strongest and the CHF is the weakest. The USD is mixed to start the new trading week. Last week, was filled with China stimulus announcements from both a fiscal and monetary policy. The stock market soared in response with the Shanghai composite index rising 12.81%. The

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

The JPY is the strongest and the GBP is the weakest as the NA session begins. The USD is mixed to modestly lower mainly because of the -1.02 decline in the JPY. The other changes vs the major currencies are showing modest changes on the day with the USD higher vs the EUR, GBP, CAD,

The US PCE data was lower than expectations and it helped to push the USD lower. For the EURUSD, the price has moved above a swing area between 1.1181 and 1.11897. The next targets are at 1.1200 and the high for the week at 1.12130. Getting above those levels will have traders targeting the 61.8%

The USDCHF is moved lower on the back of the PCE data today and that move has now taken the price of the USDCHF to 0.8400 target. Remember, that area is a low of an up-and-down trading range that has confined the pair going back to August 20. The high of the area comes in

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

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

In this video, I take a look at the three major commodity currency pairs vs the USD: The AUDUSD, USDCAD and NZDUSD. The AUDUSD has been testing swing highs going back to June and July 2023 both yesterday and today. Yesterday the price moved above does highs between 0.68947 and 0.68997, but could not sustain

Fundamental Overview The US Dollar came under renewed pressure recently following the surprisingly weak US consumer confidence report on Tuesday. The labour market data in the report softened a lot and it generally leads the unemployment rate. The market responded by raising the probabilities for the Fed to cut by 50 bps in November to

The NZDUSD has been tracking the 100-hour MA higher There have been some brief moves below the 100 hour MA over the last few weeks, with a few times when the price dipped below the MA but quickly rebounded higher. Today, there has been another dip below the 100 hour MA. Seller are “making a

Light Crude Oil Futures Technical Analysis – Key Junction at $70.3 Hello, this is Itai Levitan at ForexLive.com, bringing you a technical analysis on Light Crude Oil Futures (Ticker: CL). As expected and communicated in my last oil technical analysis, the current touchpoint at the top pane of this channel is playing out as anticipated.

The USD is continuing its run to the downside with the greenback trading at new lows for the day vs ALL the major currencies. EURUSD: The EURUSD is trading to a new intraday high of 1.11661. That is just short of the high from yesterday at 1.11665. Move above and the high from Friday at

Fundamental Overview Last week, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of a risk management move with the dot plot showing two more

The NZDUSD is moving higher today after the dip lower in the Asian/early European session found willing buyers near the 100 hour MA. Buyers have been leaning near that MA over the last 6 or so trading days. There have been some small break (on Friday and also on Thursday), but not for long. Today’s

Fundamental Overview Last week, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of a risk management move with the dot plot showing two more