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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EURUSD technical update: EURUSD breaks to new 2023 highs. What next for the pair?

2023-07-12

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Join us as we analyze the recent technical developments in EURUSD, where the pair has broken to new highs for 2023. The buyers remain in control, propelling the pair higher amidst a market in motion. In this video, we delve into key support and resistance levels, chart patterns, and trend indicators to provide insights into potential future movements of EURUSD.

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Post the BOC rate hike, what are the technical telling us in the USDCAD

2023-07-12

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In this analysis, we examine the technical implications of the Bank of Canada (BOC) rate hike on USDCAD. The pair has approached the 50% midpoint of the move up from the October 2021 low, located at 1.3132. Furthermore, the year's low has reached 1.31157. Join us as we explore key support and resistance levels, chart patterns, and trend indicators to provide insights into the potential future movements of USDCAD.

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GBPUSD moves higher and toward 2023 highs and the key 1.3000 level

2023-07-12

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The GBPUSD is moving sharply higher after the better-than-expected CPI data and in the process is looking to test the next swing area targets on the daily chart up to the 1.29987 level. Of course, the natural resistance at the 1.3000 level is also a key target. The price has not traded above that key level since April 2022. Buyers remain in control technically after US CPI data.

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The EURUSD is higher after the US CPI and approaches the highs from 2023

2023-07-12

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In this analysis, we explore the recent price action of EURUSD, which has surged higher following the release of better-than-expected CPI data. The pair is currently testing a key swing area between 1.10669 and 1.1075 as it approaches the highs from 2023 at 1.1091 and 1.1095. Join us as we analyze the significance of these levels and discuss the potential implications for EURUSD's further upside momentum.

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US CPI and Bank of Canada Highlight North American Session

2023-07-12

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2023-07-12

Overview: The US dollar's losses have been extended ahead of the June CPI. At the same time, speculation that the Bank of Japan will adjust policy later this month saw the yen extend its gains for the fifth consecutive session. Sterling made new highs since last April, while the Swiss franc has risen to its best levels in about 2 1/2 years. The Dollar Index gapped lower and through the trendline drawn off the April and May lows. The greenback has...

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Powerful Short Squeeze Continues to Lift the Yen

2023-07-11

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2023-07-11

Overview: The greenback remains under pressure. The yen's short squeeze continues, and strong wage growth has helped lift sterling to new highs since last April. Among the G10 currencies, only the Australian and New Zealand dollars are unable to sustain gains through the European morning. Emerging market currencies are also advancing, with a couple of exceptions, including the Turkish lira despite reports on foreign equity inflows. The weaker...

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AUDUSD shifts short term bias back higher with daily MAs looming to the topside

2023-07-10

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AUDUSD shifts short term bias back higher with daily MAs looming to the topside. The pair has the 100 and 200-day MAs above at 0.6684 and 0.66963 repectively. Last week, the price moved above those MAs but stalled ahead of the next target at the 38.2% retracement at 0.6711.

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Killing two birds with one stone: A technical early week look at the EURUSD and USDJPY

2023-07-10

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In this video, we conduct a technical analysis of both EURUSD and USDJPY pairs, providing an early-week overview of their price action. Both pairs have experienced up-and-down movements as the trading week commenced. Join us as we examine key technical levels, support and resistance areas, and chart patterns that have influenced the price action of EURUSD and USDJPY.

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The GBPUSD falls toward 100 hour MA and swing area to start the trading week | ForexLive Video

2023-07-10

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In this ForexLive video, we take a close look at the first price change of GBPUSD as the trade week starts. The pair has gone down and is close to a big swing area and the 100-hour moving average. We talk about how important these levels are and how they could affect how the price of the pair changes. We also talk about how GBPUSD got into trouble at the June high on Friday, which caused a drop in today's trading session.

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The Greenback Stabilizes After Pre-Weekend Drop

2023-07-10

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2023-07-10

Overview: The US dollar is mostly firmer after selling off hard before the weekend in response to the jobs data. Ranges are mostly narrow, but the Australian and New Zealand dollars are the heaviest following news of China's deflation. Emerging market currencies are mixed, but of note the liquid, freely accessible currencies, South African rand, Hungarian forint, and Mexican peso are atop the leader board. Despite repeatedly lower US dollar fixes...

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Russell 2000 Technical Analysis

2023-07-10

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Here's a quick technical analysis on the Russell 2000 with some fundamental background. For more visit ForexLive.com

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Week Ahead: Is the Dollar’s Downtrend Resuming?

2023-07-08

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2023-07-08

The dollar appears at an inflection point. Its failure to draw much traction even as US rates rose may be an important tell. The US 2-year yield rose to a new multiyear high near 5.12%, while the 10-year yield set a new high for the year around 4.09% after the employment report. The dollar's broad gains in the second half of last month looks corrective. The underlying downtrend, which we argue began last September and October, looks set to resume....

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USDJPY extends below its 38.2% retracement level and lower swing area.

2023-07-07

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The USDJPY trades at the lowest level since June 22. The range for the day is up to 210 pips well above the 22 day average at 109 pips.

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USDCHF remains in an up and down trading range but with a bearish bias. Here is why.

2023-07-07

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A technical look at the USDCHF as it plods along within a 116 pip trading range. Find out the technicals that are driving traders and this currency pair.

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The USD moved lower initially after the US jobs report but some downside limitation

2023-07-07

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A bounce back higher in the USD from session lows

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A look at the EURUSD key technical levels ahead of the US jobs report

2023-07-07

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The EURUSD stays below the 200 hour MA

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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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