Technical Analysis

USD is up 1.85% vs NZD and up versus all major currencies The NZDUSD is one the weakest (and biggest movers) of the major currency pairs today (The USDJPY is the biggest mover with a move of 1.92%). The NZDUSD pair is currently down -1.85% on the day (higher USD). The run higher in US

EURUSD falls to the low from earlier this week/swing area The EURUSD has fell below the 100/200 hour MAs after the jobs report and also below a swing area that was a ceiling going back to mid- January between 1.0866 and 1.0874 (see lower “Red Box” on the chart above). The price decline continued toward

The major US stock indices are ending lower on the day led by the NASDAQ index with a decline of about -1.6%. However, that comes after some pretty strong gains including a 3.25% gain yesterday. The final numbers are showing: Dow Industrial Average fell -127.93 points or -0.38% at 33926.00 S&P index fell -43.26 points

> Technical Analysis > The strong US jobs report sent the US dollar sharply higher. What next? Technical Analysis A technical look at the EURUSD, USDJPY, GBPUSD and USDCHF in the morning forex technical report ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT –

USDCAD stalls at the 200 hour MA and rotates lower The USDCAD moved higher in early North American trading today, and in the process the price moved up to test it’s 200 hour moving average . The 200 hour moving average (green line in the chart above) comes in a 1.33477. The high price reached

The major US stock indices are opening with gains as markets digest central-bank rate hikes. The NASDAQ index leads the way once again. The last two trading days have seen a rise of 1.67% on Tuesday and 2.0% yesterday. At the open, the NASDAQ index is up another 1.98% %. The gains are being helped

The benchmark 10 year yield in the US is moving closer to its rising 200 day moving average (see green line in the chart below). Recall from January 19, the yield moved down to a low of 3.321%. The 200 day moving average was at 3.331% on that day. Momentum could not be sustained to

EURUSD trades higher after weaker ADP employment data The EURUSD is moving to a new session high after the weaker than expected ADP report. The pair is back above the 1.0900 level. The high price for Monday reached 1.09087. The high price from last week extended up to 1.09288 surpassing the January 23 high price

USDCHF falls back to underside of broken trend line The USDCHF has followed the US dollar lower after the employment cost data came in touch weaker than expectations. Yields are lower with the five-year down 6.4 basis points at 3.618%, the 10 year is down 5.2 basis points at 3.497%. Looking at the hourly chart

The strongest to the weakest of the major currencies The JPY is the strongest and the AUD is the weakest as the NA session begins. The Fed will start their two day meeting today and conclude with their rate decision tomorrow followed by the Fed Chair press conference at 2:30 PM ET. The BOE will

The major US stock indices took a turn back to the downside and are closing the day near session lows Dow Industrial Average is down -260.42 points or -0.77% at 33717.69 S&P index is down -52.68 points or -1.29% at 4017.89 NASDAQ index is down -227.89 points or -1.96% at 11393.82 For the NASDAQ index,

EURUSD moves to a new session high The EURUSD has moved to a new high for the day and in the process has moved closer to the Monday high price at 1.09261. Above that level and traders would eye a swing level around 1.0940. Going back to March and April 2022, there were a series

The USDJPY moved to a new session low in the current hourly bar, and in the process moved toward its 200 are moving average 129.156. The pair has been trading above and below its higher 100 hour moving average currently at 1.2978. With the price trading between the levels, they each become barometers for more

EURUSD stalls the fall at the high of the old swing area The EURUSD is continuing its ups and down. The good news for the sellers is that the high from Monday stalled the rise. That turned buyers into sellers. The good news for the buyers is that the low just reached stalled at the

USDCAD holds above the 200 hour MA The USDCAD has been waffling up and down post decision and through the press conference as well (Macklem just concluded that presser). However, from a technical perspective, the pair remains above the 200 hour MA at 1.3404. The 100 hour MA is not too far from that level

Although the major European indices are closing the day with declines, the closes are nearer the highs for the day. German DAX -0.08% France’s CAC -0.09% UK’s FTSE 100, -0.16% Spain’s Ibex -0.11% Italy’s FTSE MIB, -0.03% Looking at the German DAX on the hourly chart below, the price today moved back below its 100

AUDUSD backtracks to the high from last week The AUDUSD moved sharply higher after stronger CPI data in the Asian-Pacific session. CPI came in at up 1.9% for the quarter. With the central bank targeting 2.0% for the year, the 1.9% is just too high. The YoY inflation moved up to 8.4%. A higher AUD

USDCAD gains above 100/200 hour MAs could not be sustained The USDCAD moved above the 100/200 hour MAs after the BOC said that they would raise rates by 25 basis points but would pause policy for a period of time. The gains fell short of the next topside swing area between 1.3436 and 1.3444. The