Category Archive: 4) FX Trends

Main Author Marc Chandler
Marc Chandler
He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.
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Yen Extends Recovery on Wage Data, Yuan Ticks Up Too

2023-07-07

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2023-07-07

Overview: A powerful short squeeze has lifted the yen by the most in two months this week. The dollar's push today below JPY143 was encouraged by the stronger than expected wage growth. The US jobs report will test its strength. The PBOC fixed the yuan sharply higher today and it is the only emerging market currency that is higher on the day, ahead of the Latam open. The dollar has not drawn much support for the surge in US yields. The 10-year...

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GBPUSD Technical Analysis

2023-07-07

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Here's a quick technical analysis on GBPUSD with some fundamental background. For more visit ForexLive.com

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Through the upa and downs today, the EURUSD has defined key support/resistance levels

2023-07-06

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The ups and downs levels in the EURUSD may contain the price action before the jobs data tomorrow. Traders will then look for a break and run.

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Nasdaq and S&P indices move below 100 hour MAs. Can sellers keep the lid on the indices?

2023-07-06

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The short term bias shifts to the downside with the price moving below the 100 hour MA. Can the sellers stay in control?

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Do you need a technical look at the GBPUSD? Here it is.

2023-07-06

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The GBPUSD buyers made a play earlier, but the ADP changed that idea

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USDCAD runs higher to test the 38.2%, but backs off. What next?

2023-07-06

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In this video, we analyze the recent price action of USDCAD as it runs higher to test the 38.2% Fibonacci retracement level but faces selling pressure. The key level of 1.33213, representing the 38.2% retracement of the move down from the May 25 high, was briefly broken before sellers reentered the market. Join us as we discuss the significance of this price development and explore potential scenarios for the USDCAD going forward. Will the...

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USDJPY bounces higher after much stronger ADP jobs. Yields surge.

2023-07-06

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Join us as we discuss the recent price action of USDJPY, which experienced a bounce higher following the release of much stronger ADP jobs data and a surge in yields. The pair has entered a neutral area, trading between the 100-hour and 200-hour moving averages. In this video, we analyze the implications of the positive economic data and rising yields on the USDJPY, exploring potential trading opportunities within this neutral zone.

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Yen and Yuan Lead Move Against the Dollar

2023-07-06

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2023-07-06

Overview: Stocks and bonds ae selling off today. The greenback is also trading heavily. Ironically, the yen is the strongest among the G10 currencies and the Chinese yuan is the strongest among emerging market currencies. The dollar is firmer against the Scandis and Canadian dollar. Most emerging market currencies, including the Mexican peso, which traded at its best level yesterday since 2015. While nearly all the bourses but India fell in the...

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S&P 500 Technical Analysis

2023-07-06

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Here's a quick technical analysis on the S&P 500 with some fundamental background. For more visit ForexLive.com

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AUDUSD lower on the day after squeeze higher post RBA decision yesterday stalls

2023-07-05

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In this video, we analyze the recent price action of AUDUSD, which experienced a lower movement following a failed breakout after the RBA decision. The pair's upward momentum yesterday faltered as it encountered resistance at the 100-day and 200-day moving averages around the 0.6693 level. Join us as we discuss the significance of this price development and explore the potential implications for AUDUSD going forward. Gain valuable insights into...

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GBPUSD buyers try to take more control. Find out what is key for the buyers to keep going

2023-07-05

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Join us as we discuss the recent price action of GBPUSD, where buyers are attempting to gain more control over the pair. In this video, we explore the significance of the 200-hour moving average, which played a crucial role in halting the recent downward movement. Discover the key levels that buyers need to maintain and surpass to sustain their momentum. We delve into potential support and resistance levels, trendlines, and market dynamics that...

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USDJPY sellers break below a key hourly MA for first time since June 14

2023-07-05

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In this video, we analyze the recent price action of USDJPY as sellers successfully break below a significant 200-hour moving average for the first time since June 14. Join us as we discuss the implications of this breakthrough and explore whether the sellers can maintain the pressure on the pair. We delve into potential support and resistance levels, trendlines, and market dynamics that can provide valuable insights into the future direction of...

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EURUSD range trading with some common technical levels defining the range

2023-07-05

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In this video, we analyze the current price action of EURUSD, which has been range trading with common technical levels defining the boundaries. The rally is limited by the presence of the 200-hour moving average, acting as a resistance level, while the downside is supported by the 38.2% Fibonacci retracement level. Join us as we discuss the significance of these technical levels and their impact on the range-bound movement of EURUSD. We explore...

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Sobering PMI Readings Sap Risk Appetites

2023-07-05

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2023-07-05

Overview: As US markets prepare to re-open from yesterday's holiday, the dollar is trading mostly higher, though the euro and yen are steady to slightly firmer. Narrow ranges are prevailing. The Canadian and Australian dollars are exceptions and are off about 0.3%. Emerging market currencies are mostly lower, including Russia, China, South Africa, and Turkey. Final service and composite PMIs were mostly revised lower in Japan, Australia, and the...

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GBPJPY Technical Analysis

2023-07-05

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Here's a quick technical analysis on the GBPJPY with some fundamental background. For more visit ForexLive.com

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What Happened Today

2023-07-04

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2023-07-04

The US dollar was mostly softer. The New Zealand dollar was the strongest (~0.85%) helped by cross rate gains against the Australian dollar, following the RBA’s decision to stand pat. The Australian dollar fell to one-month lows below NZD1.08. There is scope for another 0.5%, or so to the next target near NZD1.0750. The RBA’s decision to leave its cash target at 4.10% was not surprising, and despite the hawkish rhetoric, the market downgraded the...

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EURUSD Technical Analysis

2023-07-04

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Here's a quick technical analysis on EURUSD with some fundamental background. For more visit ForexLive.com

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AUDUSD traders using moving averages to define boundaries today

2023-07-03

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200 hour moving average, 200 day moving average, and 100 day moving average all tested on the topside. The 100 hour MA (and swing area) stalled the fall.

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What is key technically for the USDJPY as the new week begins

2023-07-03

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A key level on the USDJPY held support on Friday and earlier today. The technical level will be a key barometer at the start of the trading week.

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EURUSD bias tilts marginally in the sellers favor to start the trading week

2023-07-03

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The EURUSD is trading with a small negative bias in the short term to start the new trading week. The pair is trading below the 100/200 hour MAs today, giving the sellers the advantage. It will take a move above to tilt the bias more to the upside.

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