Category Archive: 4.) Forex Live

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Fireside Chat about fintech & regulation in Africa🇿🇦

2023-04-27

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USDCAD backs off from topside resistance but the 100 hour MA stalls the fall

2023-04-27

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The USDCAD moved to a swing area target and 61.8 Retracement level this week and that area stalled the rise. In trading today, sellers have pushed lower but has run into support at the 100 hour MA.  So buyer and sellers have defined the close support and resistance. Traders are waiting for the next shove outside one of those technical levels.

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US GDP lower but core PCE higher. That sends yields and the USD higher in early US trading

2023-04-27

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The US GDP came in lower-than-expected but core PCE was higher. That has sent the US yields to the upside and the US dollar higher in early US trading.  However, the moves post the data, has the pair trading back to 100/200 are moving average levels in the EURUSD, USDJPY and GBPUSD - and stalled. Those moving averages will be barometers in the new trading day. What is clear is the ups and downs have continued in those major currency pairs.

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The EURUSD and GBPUSD rebound today. The AUDSD moves to a new year low

2023-04-26

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The EURUSD and the GBPUSD fell sharply yesterday on flight to safety flows, but in trading today, those declines are being erased.  The USDJPY chops around after yesterday saw a decline on flight to more safety into the JPY on banking concerns.  The AUDUSD is lower after YoY inflation fell more than expected in Australia today despite the slightly higher QoQ data.

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AUDUSD transit to the downside and approaches a floor area. What next?

2023-04-25

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The AUDUSD corrected higher into the Asian session today, and in the process tested the 100 hour MA. Sellers leaned against the level, and has been trending the pair lower since then. In the NY session the pair has moved below a swing area between 0.6649 and 0.66526. Stay below is more bearish going forward. The move lower has looked to approach the March 24 low at 0.6625 in the April 10 low at 0.66186. Move below that area opens the door for...

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The USD is stronger and retraces the declines from yesterday. What are the chart saying?

2023-04-25

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The USD is stronger today retracing some of the declines from yesterday's trading.  What are the charts saying?  In this video, Greg Michalowski of Forexlive.com takes a deep dive into the technicals supporting the price action for the EURUSD, USDJPY, and GBPUSD major currency pairs.

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Set yourself up for the new trading week by understanding the key levels in play

2023-04-23

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A non trending week last week, will have traders looking for more action this week. A number of major currency pairs vs the USD had very low ranges in trading last week. The non-trending nature of the price action will have traders anticipating something more in trading this week. That would involve breaks of key technical levels.  In this weekend technical report, Greg Michalowski of Forexlive.com discusses this dynamic and outlines the levels...

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Making some sense technically from the up & down chop in some of the major currency pairs

2023-04-21

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The up and down chop this week in the some of the major currency pairs, has some traders frustrated (when you think it is going down it goes up and visa versa), and some traders happy (the up and down range traders).  The EURUSD and GBPUSD is non trending. The USDJPY is trying to reverse lower after reaching a key topside target on Wednesday.  To get up to speed, watch the morning technical video. Although there is some up and down volatility,...

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The USD continues to chop as the market gets pushed and pulled

2023-04-20

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The USD continues to chop as the market gets pushed and pulled from higher inflation and lower growth, lower inflation and higher growth, good data, bad data, hawkish Fed members, less hawkish Fed members.  Good earnings but lower earnings YoY. Lower margins, etc., etc. etc.  The USD has moved lower after the Philly Fed index was the lowest in 3 years (the Empire manufacturing surprised the upside on Tuesday so go figure).  Yields are lower with...

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AUDUSD buyers and sellers start to look for a break. Here’s why?

2023-04-19

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The AUDUSD is consolidating with the lows and highs - along with technical levels - starting to converge. When that happens, it is time to anticipate a break and hopefully a run in the direction of the break.  In this video, I outline what I mean and what levels are key going forward.

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The USD is selling off in early US trading after rising into the session.

2023-04-19

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The ups and downs continue in the forex market. The USD was the strongest of the majors coming into the US session but is coming off and retracing some of those gains as US trading gets underway. What levels are in play for the EURUSD, USDJPY, GBPUSD and USDCAD from a technical perspective.

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NZDUSD price action and tools applied define the key levels for traders

2023-04-18

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The NZDUSD is using technical levels to define the range. The borderlines are set.

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USDCHF trades between hourly MAs as buyers and sellers battle

2023-04-18

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The USDCHF moved above the 100 hour moving average but remains below the falling 200 hour moving average. Buyers and sellers are battling it out between the moving averages. Meanwhile, for the EURCHF, it has the 100 hour moving average in 200 day moving average converged at 0.9827. That will be a key barometer for traders today with the 200 hour moving average above at 0.98488 as a key target to get to and through.

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The USD is lowered to start the day but all low levels

2023-04-18

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The USD is lower on the day but off the low levels. What next for the greenback?

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S&P 500 technical analysis from 2009 todate: The big picture

2023-04-18

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Watch the giant channel from 2009 which shall be your guide, should you choose it. Invest and trade at your own risk and visit ForexLive.com for additional views. https://www.forexlive.com/technical-analysis/sp-500-technical-analysis-from-2009-todate-the-big-picture/

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Wheat Futures price forecast: Going to 700, and later to 800.

2023-04-16

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This technical analysis shows that on a lower (4 hour) time frame, ZW has broken out of an ascending wedge. The next probable target, in my opinion, is the 700 round number. However, investors or traders of wheat related assets may want to time their entries with a possible retest, while willing to pay a price that it might not do that and miss their entries. A balanced approach might be to scale into the trade. Trade at you own risk and visit...

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S&P 500 E-mini Futures Technical Analysis

2023-04-15

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Despite the surprising selloff, following a rally on Friday, this video shows the technical lines and junctions why the sell off occurred (trigered by trading algos usually). Watch this possible map for further guidance. There are always many maps and many participants watching more than one map, but this is one of the main ones that I am watching. Visit ForexLive.com for additional views.

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The USD moves higher and retraces some of the week’s declines

2023-04-14

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Fed's Waller spoke to inflation remaining too high with more hikes needed ("hikes" as in more than 1 more hike). That has given the USD a boost in early NY trading.  The 2 year is up 10 basis points. The 10 year is up 6 basis points. In this technical report, I take a look at the EURUSD, USDJPY, GBPUSD and the USDCAD and outline the levels in play and show/explain why.

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BREAKOUT. The PPI and claims data send the USD lower.What next?

2023-04-13

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BREAKOUT! The USD is breaking to new lows vs the EUR and GBP for the year, and the USDCAD is breaking below its 200 day MA for the first time since August 2022. For the USDJPY, it is making a break below its 200 hour MA.  So lots of breaks technically for the major currency pairs. Learn about it, and what's next in the morning forex technical report.  - EURUSD 2:18 - USDJPY 4:42 - GBPUSD 5:56 - USDCAD 7:12

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US CPI sends the USD lower. What next for some of the major currency pairs

2023-04-12

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The USD moved lower after the US CPI data. The CPI showed a headline increase of 0.1% for the headline and 0.4% for the core. The Shelter costs continue to elevate the core measure (accounts for 1/3 of CPI data). It increased by 0.6%. Traders and analysts continue to look for lower shelter costs to start to kick in.   Nevertheless, the numbers has lowered yields and pushed up stock prices. The USD has moved lower.  In this video, I take a...

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