Technical Analysis

GBPUSD falls below 200 day MA The GBPUSD has traded lower today and to the lowest level since November 30. In the process, the price extended back below the 200 day moving average of 1.20791 (see green step down line on the chart above). On December 1, the price first moved above that moving average

USDCHF back above the 100/200 hour MA The USDCHF is trading to a new session high and in the process has moved into a swing area (see red numbered circles). That area comes in between 0.9311 to 0.9325. On Monday, the price moved above that area reaching highs at 0.9346 and later at 0.9340. Both

EURUSD traded the up and down trading range for the week The EURUSD has stretched to the low from Monday/Tuesday and in the process traded the high to low range for the week. The high price earlier today took out the high from Monday at 1.06573 in the-Tuesday at 1.06579. The high price today ticked

The strongest to the weakest of the major currencies The NZD is the strongest and the the JPY is the weakest as the NA session begins. The USD is weaker. The US stocks are up modestly after larger declines yesterday. The US yields are higher. Today the US PCE data will be released at the

The USDJPY moved up to a new high. Stocks have rebounded from earlier declines. The Dow Industrial Average is up 0.34%. The S&P index is up 0.44% and the NASDAQ index is up 0.25% Yields are higher as well. The 2 year is up 4.8 basis points while the 10 year is up 5.4 basis

EURUSD chops around near the middle of the range. The EURUSD is doing it’s pre-holiday thing…That is chopping around. Looking at the hourly chart, hopes were dashed yesterday fairly quickly when the price moved above the swing highs from Monday and Tuesday, but only by a few pips. Hopes were then dashed again when the

USDJPY moves back to 50% The USDJPY has crept up in trading today, following the USD to the upside and a mixed interest rate curve. Technically, the pair has seen a move up to a high of 132.71. That was a pip above the 50% midpoint of the 2022 low to high trading range at

AUDUSD tests 100 day MA As the US stocks get hammered with the Nasdaq index now down -3.37% and the S&P down over 2.55%, the AUDUSD is taking on some downside price pressures on “risk-off” sentiment. Looking at the daily chart, that move has the AUDUSD pair down testing the 100 day MA at 0.6658.

The EURUSD held above the 200 hour MA during 2 tests yesterday and again today. Then the level was broken and failed in each of the prior two hourly bars. EURUSD below 200 hour MA, but….. Now on yet another attempt, the MA is being broken with the pair moving to a new day low.

GBPUSD falls below the 200 day MA The GBPUSD has been skimming at lows in December near the 200 day MA (green overlay line on the chart above at 1.20846). The price tested that MA yesterday and again earlier today. It just moved below that MA level, tilting the bias more to the downside. The

EURUSD bounced off the 200 hour MA ….again. The EURUSD continues it’s ups and downs. The ups stalled at the high from yesterday near 1.06568. The move to the downside moved back to the 200 hour MA at 1.05978. Earlier today, the price also stalled near the 200 hour MA (before moving to the high).

The GBPUSD moved above its 200 day moving average on the first trading day of December, and after retesting that moving average on December 6 and December 7, the price extended up to the 61.8% retracement of the 2022 trading range at 1.24507 where sellers leaned against the level. Since then the price has returned

This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. JP Morgan discusses EUR/USD technical outlook and sees scope for a significant decline in Q1 of

EURUSD falls below the 200 hour moving average The EURUSD is moving below the 200 hour MA at 1.05827 (green line in the chart above), and the 50% of the December range just below that level at 1.05815. The low just reached 1.05776. IT is the first look below the 200 hour MA since November

It’s Friday after a week that saw US CPI come out weaker and a Fed and ECB that were more hawkish. That caused some volatility as the markets pondered higher rates, perhaps slower growth, soft or hard landing, etc. All of which can lead to increased volatility which should encourage understanding the technicals that are

USDCAD tests the highs after bouncing off 200H MA The USDCAD is moving to a new high for the day, and in the process is extending toward the high from December at 1.3699. The price just traded to 1.3293. Looking at the hourly chart, the price action today initially moved to the downside testing the

AUDUSD has good support and resistance in play The AUDUSD is lower on the day now after rising in the early Asian session. The high price for the day fell short of the swing area between 0.6738 0.67437 (see red numbered circles and lower yellow area on the chart above). The high price could only

USDJPY falls to the 100/200 hour MA target The flight into the safety of the JPY is continuing with the USDJPY moving lower as stocks keep most of their declines. Looking at the hourly chart, the USDJPY tried to extend above a swing area going back to November 28 between 137.48 and 137.85 and the