Category Archive: 4.) Forex Live

Filter archive by: Show All Show only Articles Show only Videos

EURUSD trendline stalls the fall in trading today. What next?

2023-05-31

by

The EURUSD fell to the lowest level since March 20 in training today. The low price extended to 1.0658. The declines erased the rebound gains from yesterday. The low price yesterday reach 1.06718 before rebounding to an intraday high of 1.07474. The move higher to the price above the 100-hour moving average (blue line in the chart above), but fell short of the falling 200-hour moving average target (green line in the chart above). In trading...

Read More »

AUDUSD made a break to the downside last week. What now?

2023-05-30

by

Last week, AUDUSD took a downward turn, breaching the boundaries of a pre-established "red box" with a lower range of 0.6564 - 0.6572. This deviation from the swing area appeared to fortify the confidence of sellers, culminating in a further dip to a low of 0.64898 last Thursday. Although a slight correction has been witnessed since then, in today's trading the high of 0.65587 still fell short of revisiting the aforementioned swing area...

Read More »

S&P index trades above and below unchanged. Key MA looms below.

2023-05-30

by

The S&P index managed to close above its 100-week moving average last week for the first time since August, a feat that, although achieved by a slim margin, hands more control to buyers. In today's trading, the index hit a new peak since the week of August 15, at 4231.10, before retracting into negative territory with a low of 4201.95. Notably, this is still above the current week's 100-week moving average of 4198.84. If the index can maintain...

Read More »

USDCAD sellers tried to extend below 50% but finds buyers

2023-05-30

by

The USDCAD sellers tried to extend below the 50% of the move down from the March high on the 4-hour chart today, but could not keep the momentum lower. The price has moved back above that level, and the buyers are more in control. Can they stay above the midpoint level at 1.35808?

Read More »

GBPUSD breaks (and stays) above 200 hour MA today

2023-05-30

by

The GBPUSD is surging to the upside in trading today, and in the process has seen the price extend above its 200-hour moving average at 1.23905. The high price has reached up to 1.2446 so far. That level took the price of the pair, just above a swing area high at 1.24454, but fell just short of the 38.2% retracement of the move down from the May 10 high at 1.24493. The price has backed off (seller's leaning against the 38.2% retracement) with the...

Read More »

USDJPY trades closes below 100 hour MA for first time since May 12

2023-05-30

by

USDJPY below 100 hour MAThe USDJPY has fallen below its 100 hour moving average at 139.949 and close below that level over the last 2 hourly bars.  The price of the pair last close below that moving average on May 12. The last cycle low was on May 3 at 133.492. The high price today reached 140.96 before rotating back to the downside. That's a move of about 743 pips in 18 trading days. Not a bad move.   The price low today reached 139.57. That...

Read More »

EURUSD closes above key hourly MA. Can it stay above now?

2023-05-30

by

The EURUSD has moved and closed above its 100-hour moving average in trading today (blue line in the chart above) currently at 1.07285. The move came after reaching new lows on March 20 (at 1.06718). Looking back in time, the price moved above the 100 hour moving average back on May 22, May 23, and May 24, but the momentum faded fairly quickly. The question now is whether the 100-hour moving average remains broken and whether the price will then...

Read More »

Bitcoin Technical Analysis and Trade Idea for 29 may, 2023

2023-05-29

by

Bitcoin still seems bullish but where can one enter? See some trade ideas within. See more at https://www.forexlive.com/technical-analysis/bitcoin-technical-analysis-and-trade-idea/

Read More »

NZDUSD down for the 4th day in a row. Extends through swing area and looks toward 50%..

2023-05-26

by

The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. What does the sharp fall do to the technical picture as the week comes to a close?

Read More »

S&P index retests its 100 week moving average and backs off. Nasdaq above 100 week MA.

2023-05-26

by

Both the S&P and the Nasdaq broad indices are trading around the 100 week moving average as the week works toward the close. The S&P is just below the level near 4200. The Nasdaq is above the MA at 12902.78 currently. Can both close above those key 100 week MAs this week and tilt the bias more to the upside?

Read More »

GBPUSD rotates back lower. 100 day MA the focus

2023-05-26

by

The 100 day MA near 1.2287. The GBPUSD moved higher in trading today held by better-than-expected retail sales. The price extended up to and through the falling 100-hour moving average currently at 1.23839 (blue line in the chart above). The price also entered into a swing area that has a number of different swing lows and swing highs going back to the end of March (see red numbered circles). The momentum could not take the price above that swing...

Read More »

USDJPY left to right chart bias is still to the upside. 50% retracement holds support.

2023-05-26

by

50% retracement near 139.574 is a close risk and short-term bias defining level. The USDJPY dipped to the 50% midpoint of the range since the 2022 high after breaking above that level yesterday.  The corrective move dipped just below that level but found buyers ahead of the better-than-expected US data. That data sent the USDJPY back to the upside. The buyers remain in full control.   Stay above the 50% retracement at 139.574 is more bullish. The...

Read More »

EURUSD bias remains to the downside after US data dump

2023-05-26

by

Stronger data slows the EURUSD's corrective move higher. The EURUSD was moving higher in pre-data trading with the price moving toward resistance levels on the hourly chart. The US data was largely stronger than expected, turning the USD back to the upside (the EURUSD lower). That move kept the bias pointing to the downside for the pair.  Resistance comes between 1.07509 and 1.0764 (where the 100 hour moving average is currently at and moving...

Read More »

AUDUSD trades to the lowest level since November and below a key swing area

2023-05-25

by

The AUDUSD is making a break lower in trading today on the daily chart with the price entering the low extreme area from 2022 below 0.65448 to 0.65847.  Stay below 0.65448 keeps the sellers in firm control.

Read More »

AUDUSD trades to the lowest level since November and below a key swing area

2023-05-25

by

The AUDUSD is making a break lower in trading today on the daily chart with the price entering the low extreme area from 2022 below 0.65448 to 0.65847.  Stay below 0.65448 keeps the sellers in firm control.

Read More »

The USD moves higher and the USDJPY and GBPUSD are breaking key areas.

2023-05-25

by

Can the momentum continue? The USD is moving higher and the USDJPY and GBPUSD are breaking key areas. There is chatter about a debt deal possible today. Initial jobless claims and GDP were better.  Stocks are higher thanks to Nvidia. The market is starting to price in a hike in June.  All are helping the dollar move higher. The question is can the momentum continue?

Read More »

EURUSD moves below a key floor. Old floor is now the ceiling.

2023-05-25

by

The EURUSD closed near a floor level on the daily chart near 1.0750. In trading today, that level was breached with momentum. What was once the floor is now the ceiling. Stay below is more bearish.

Read More »

USDJPY buyers in control. Watch to understand why and what would hurt that bias today

2023-05-24

by

The buyers are holding support on the hourly and daily chart with work to do. What would keep that bias in the favor of the USDJPY? What are the targets and why?  Learn about it by watching this video on the USDJPY.

Read More »

EURUSD sellers had their shot. Buyers had their shot. Both are bad shots so far.

2023-05-24

by

Sellers tried to push the EURUSD to new lows and below a floor and key swing area but failed. The snapback rally the price back to the falling 100-hour moving average. That, along with the 100-day moving average of 1.0813 and the following 200-hour moving average of 1.08274 are tires that would need to be broken to increase the bullish bias from a technical perspective in the short term at least.   For now, sellers are in more control, but there is...

Read More »

AUDUSD heads into the new trading day near lows from last week

2023-05-23

by

The AUDUSD is looking to end the day near lows.  Stocks moved lower. The USD moved higher.  Risk off flows?  Maybe a little.  In this video, I talk about the technicals that are dominating the price action in the pair. The 100-hour MA has seen price action above and below over the last 3 trading days, but the price is back below and moving away (bearish). The higher 200-hour MA has not been broken to the topside since May 11. It would take a move...

Read More »