Category Archive: 4.) Forex Live

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AUDUSD bounces back to the upside. Buyers keep control.

2023-06-06

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Key target level looms above at 200 day moving average at 0.66923

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GBPUSD sellers (USD buyers) have pushed the pair to new session lows and below hourly MAs

2023-06-06

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The GBPUSD sellers are making a play below the 200 hour MA in early US trading today. Can they keep that momentum going to the downside? A swing area down to 1.2386 is the next target that if broken would give sellers more comfort/control, and increase the 200 hour MA as a risk defining level.

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USDJPY buyers making a play in early US trading

2023-06-06

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The USDJPY buyers are making a play above the 100/200 hour MA in early US trading. Those MA come in at 139.493 and 139.77.  If the buyers are serious, moving away from the MAs would show their commitment. The USDJPY pair has been trading within a fairly narrow range between 138.73 and 140.92 over the last 10 or so trading days. The pair remains near the high of the move up from May, it is just having difficulty keeping the momentum going as...

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EURUSD moves to new session lows and new lows for the week

2023-06-06

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The EURUSD tried to move higher in the early Asian session and heading into the European morning session, but could not sustain upside momentum above its 100 and 200 hour moving averages (blue and green lines in the chart below).  Weaker data ahead of Germany  (factory orders) and EU (retail sales) helped to push the currency back to the downside. Buyers turn to sellers on the move back below the 200 and 100 hour moving averages which are near...

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GBPUSD stays within the hourly MA range

2023-06-05

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The US trading session started the day by falling below the 100 hour moving average(blue line in the chart) and then extending below the 200 hour moving average(green line in the chart below). The sellers were in control. However the ISM nonmanufacturing data came in weaker than expectations and the price quickly moved higher. That rally moved all the way up back to the 100 hour moving average were sellers have once again leaned. Staying below the...

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USDCHF bias shifts lower after weaker US data

2023-06-05

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What are the technicals driving the USDCHF now? A technical look at the pair.

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GBPUSD sellers taking more and more control in trading today

2023-06-05

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The GBPUSD has moved lower in trading today.  The early catalyst was getting below its 100 hour moving average (blue line in the chart below). The price then moved down and below a swing area between 1.2386 and 1.2397. The 200 hour moving average is also near that area 1.23989 and is now close risk for sellers.  Stay below 1.23989 (call it 1.2400), and the sellers are more in control.

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EURUSD falls helped by weaker ISM services data today

2023-06-05

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The EURUSD is moving to a new session low in early US trading. The pair is being helped by weaker ISM services data today (and perhaps better jobs on Friday in the US - although it was mixed). Technicals are bearish below a swing area between 1.0690 and 1.0704. Stay below is more bearish today. The price is also below the 100 and 200 hour MAs, tilting the bias to the downside. On the downside, the next target comes in at 1.0660 and then the...

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Harnessing the Regression Channel for Predictive Power: Unraveling ES FUTURES PRICE FORECAST; 4400

2023-06-05

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Welcome to another insightful video on the power of technical analysis in financial markets. Today, we will unravel the magic of the Regression Channel, combined with the Fibonacci series, for predicting price movements. In this video, we first establish the importance of understanding price movement dynamics in financial markets. We then delve into how the Regression Channel, a well-known tool in technical analysis, becomes a potent predictor...

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Bitcoin technical analysis for 04 June, 2023, THE KING IS SUSTAINING

2023-06-04

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See more at ForexLive.com

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The NZDUSD buyers tried to extend higher, but failed. What now?

2023-06-03

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The buyers in the NZDUSD tried to break higher on Friday, moving above a key 200 hour MA on the hourly chart and swing level on the daily chart. However, momentum failed and the price rotated lower.  Prior to the rally on Thursday and Friday, the price did break below the 50% midpoint of the range since 2021 low on the daily chart opening the door for lower levels.  That break also failed leading the snap back rally higher.  So for the week,...

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The AUDUSD runs higher on Friday but stalls at a key level. What next?

2023-06-03

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The AUDUSD made new cycle lows this week, but bottomed midweek and moved higher on Thursday and Friday. The move back to the upside took the pair back into a "red box" that confined price action for 3-months.  The break failed. The buyers returned.  However, the run to the upside on Friday ran into resistance against the high of a swing area on the daily chart, and a key retracement level on the hourly chart (the May trading range)....

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USDCAD sellers take the price below key 100/200 day MAs tilting the bias to the downside

2023-06-03

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The key move technically in the USDCAD last week, was the move back below the 100 and 200 day MAs. That tilted the bias more to the downside for the pair from a technical perspective. The other thing of note from the daily chart is the convergence of the 100/200-day MAs. That is indicative of a non-trending longer-term market which could be a clue for a break outside of the range... soon. Non-trend transitions to trend.   The video will outline the...

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The week ahead: USDCHF sellers had their shot on Friday, but missed.

2023-06-03

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The USDCHF sellers had their shot on Friday on the break of the 200-hour MA, but could not sustain momentum. The better US jobs report started the wheels in motion for a move back to the upside. That took the price back above the 200 and 100-hour MAs in the process (at 0.90564 and 0.90718 respectively).  However, there is also key upside target resistance at 100-day MA and the 50% retracement of the 2023 trading range both at 0.9126. That level...

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GBPUSD technical levels in play for the week starting June 5th

2023-06-03

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The GBPUSD moved higher into the jobs report on Friday, but fell as yields moved higher and so did the USD. The GBPUSD fell to a support level on the hourly chart, but maintained hope for more upside from the look from the daily chart.  Monday should give traders some technical clues on who might win the next battle. The video will outline the key levels in play for the pair.

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USDJPY technical levels in play for the week starting June 5th

2023-06-02

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Greg Michalowski of Forexlive.com takes a deep into the technicals defining the bias, risk and key targets for the EURUSD  heading into the new trading week starting June 5, 2023. In the report, he looks at the daily chart and then drills into the hourly chart. Get your week started on the right foot by understanding what levels are key and in play for the EURUSD. .

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EURUSD technical levels in play for the week starting June 5th

2023-06-02

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In this video, Greg Michalowski from Forexlive.com takes a look at the technical levels that will be in play next week and explain why.

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EURGBP sellers remain in control, but some key support held this week

2023-06-02

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The EURGBP fell to the lowest level since December 2022 this week. The run lower moved into a swing area on the daily chart which has done a good job of defining resistance and support going back in time (to as far as 2021).  The holding of that level has given buyers some support to lean against. The price for the pair is higher today. Having said that, drilling into the hourly chart, the price remains below the following 100 hour moving average...

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What are driving the major USD currency pairs post US jobs report

2023-06-02

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A technical look at the levels driving the bias for the major pairs. Do you want to get your "feet under you" from a technical perspective after the US jobs report?  Take a look at this video for a review the levels in play for the EURUSD, USDJPY, GBPUSD, USDCAD and AUDUSD.   The jobs report largely kept the pairs between support and resistance levels. That gives teachers the opportunity to wait for the next shove and run.   Be...

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What key levels are in play for the EURUSD ahead of the US jobs report

2023-06-02

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As the market awaits the US jobs report, the EURUSD has positioned itself between key moving averages. On the topside the 100 day moving average and 38.2% retracement of the range since the April high is resistance near 1.0811. On the downside the 200 hour moving average 1.07312 and the 100 hour moving average 1.07151 would need to be broken to increase a bearish bias. The current price trades between the levels at 1.0763. Flip a coin. That is what...

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