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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The Yen is Sold Despite Better than Expected Q1 GDP and the Greenback Pushes Above CNY7.0

2023-05-17

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2023-05-17

Overview: Better than expected US core retail sales and manufacturing output sent US rates higher and helped lift the greenback during the North American session after a heavier tone in Asia and Europe. The US two-year note rose to almost 4.12% and the 10-year note yield increased to 3.57%. Both are the best levels in two weeks. The dollar traded firmer against most of the major currencies and the Dollar Index approached the one-month high set on...

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The USD is moving higher vs the EUR, GBP and JPY, but is lower vs CAD after higher CAD CPI

2023-05-16

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Join us for the morning forex technical report as we examine the latest developments in the currency markets. In today's session, the USD demonstrates strength against the EUR, GBP, and JPY, while experiencing a decline against the CAD. This shift comes in response to the stronger-than-expected Canada CPI data released today. Stay updated with the morning forex technical report to gain valuable insights into the currency market dynamics and make...

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Biden to Go to G7 Summit with Debt Ceiling Unresolved

2023-05-16

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2023-05-16

Overview:  The US debt ceiling talks resume at the White House today but a deal is unlikely to be announced. President Biden will attend the G7 summit in Hiroshima with the debt ceiling still looming. The dollar is mostly softer as last week's gains are pared. The Swiss franc and Japanese are the strongest in the G10. The Thai baht and South African rand, among the market's favorites yesterday are seeing those gains retraced. The JP Morgan Emerging...

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Aloha. The morning forex technical report outlines the key levels in play for key pairs

2023-05-15

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Aloha. The morning forex technical report looks at the EURUSD, USDJPY, and GBPUSD. What levels are in play? Why? What's next?

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Markets Catch Breath as Politics Trumps Economics

2023-05-15

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2023-05-15

Overview: The dollar is mostly consolidating last week's gains. The big news has been on the political front. Thailand's opposition parties dealt the military-led government a powerful blow. But in Turkey, Erdogan staved off a serious challenge and a run-off later this month looks likely, while his party maintained its parliamentary majority. Tensions over arms shipments to Russia have eased between the US and South Africa, giving the rand a boost....

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Week Ahead: Does the Dollar have Legs?

2023-05-13

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2023-05-13

There are different ways to measure it, but the dollar just put in its best week of the year. The greenback rose against all the G10 currencies, and the Dollar Index rose by the most since last September. It also appreciated against most emerging market currencies, with the notable exceptions of a handful of Latam currencies. It seems to be an overdue technical correction. Few genuinely believe that the US will default given the ominous...

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The USDJPY Story: What the 4-hour chart tells traders about the trading bias

2023-05-12

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The USDJPY traded up and down this week with clearly defined support and resistance levels. When a break higher failed earlier this week, the price rotated lower. However, the low found support against a key MA level, giving the buyers the go-ahead to re-probe the upside. On Friday, May 12, the price moved above a key MA level, a key swing area going back to February, and the storyline took a twist with buyers taking more control. What next?...

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EURUSD trades to a new session low as selling/bearish bias increases

2023-05-12

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The EURUSD is trading to new session lows as a selling/bearish bias increases. In trading this week, the pair broke outside of a 4 – 5 week trading range. What was key was a corrective high back to that breakout level, and found willing sellers. That gave sellers the go-ahead to push lower. What next from a trading perspective?  What's the next key target? What's the close risk? Selling levels if the USD is to stay strong?

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USDJPY moves back to the comfort of the 100/200 hour MAs

2023-05-12

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In this video, we analyze the recent price action of USD/JPY and discuss the upcoming factors that could influence the pair's movement as the week comes to a close. Join us as we explore key levels and potential scenarios. Yesterday, USD/JPY sellers attempted to push prices lower, breaking below a swing area near 133.876. However, their momentum could not be sustained, leading to a bounce back higher in today's trading session. As a result, the...

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EURUSD moves to a new session low as the pair continues its break to the downside

2023-05-12

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Discover key technical breaks and the recent downside breakout in EUR/USD trading. Join Greg Michalowski of Forexlive.com as he analyzes the price action and provides valuable insights in this short video. The EURUSD has made a break to the downside in trading this week, which took the pair outside an up-and-down trading range over the last month or so of trading.  The price is moving down toward 38.2% to end the week at 1.08735. The low price...

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Limited Follow-Through Dollar Buying After Yesterday’s Gains

2023-05-12

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2023-05-12

Overview: The dollar sprang higher yesterday but follow-through buying today has been limited. The little more than 0.5% gain in the Dollar Index was among the largest since mid-March. And yet, the debt ceiling anxiety and weak US bank shares persist. Today's talks at the White House have been postponed until early next week. Both sides are incentivized to bring it to the brink to demonstrate to their constituencies that they got the best deal...

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AUDUSD falls back below the 200 day MA

2023-05-11

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Discover the latest analysis of AUD/USD price action in this informative video. Explore key levels and developments impacting the market. Today, AUD/USD fell sharply after encountering selling pressure near the 100-day moving average. The subsequent decline took the price below the important 200-day moving average at 0.6725. Currently, the price is trading near the 50% midpoint of the move up from the April low at 0.6693, suggesting a...

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EURUSD finds support at 1.0900 and bounces. Resistance at 1.0942. Why?

2023-05-11

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In this video, we analyze the recent price action of EUR/USD, focusing on the key levels and developments that impacted the market. Today, the EUR/USD pair experienced a sharp downward movement, facing significant resistance against its 100-hour moving average during the Asia-Pacific session. The subsequent downside move found support just below the 1.0900 level. Moreover, several option expirations took place at that strike price today, adding...

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USDJPY buyers and seller square off as selling stalls. What now?

2023-05-11

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Discover the latest analysis of USD/JPY price action in this informative video. Explore the key resistance and support levels that are currently influencing the market. The USD/JPY pair recently moved lower, breaching a target level on the downside. However, selling pressure subsided, resulting in a corrective upward correction. In this video, we examine what lies ahead for this currency pair. Join us as we dive into a comprehensive technical...

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Sterling is Not Immune to Greenback Gains ahead of the BOE

2023-05-11

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2023-05-11

Overview: The US dollar has come back bid today. It is rising by 0.25%-0.50% against all the G10 currencies. The Canadian dollar is the most resilient today, which is often the case when the greenback is firm. The Australian dollar is off the most after reaching its strongest level since late February yesterday. Sterling is a middling performer today ahead of the anticipated Bank of England rate hike. The dollar is also firmer against most emerging...

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The GBPUSD retraces most of the CPI gains, but finds support

2023-05-10

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Discover the recent price action of GBPUSD as it breaks above previous highs and retraces CPI gains. Watch the 100-hour moving average and early session high for key intraday clues. Stay updated on GBPUSD technical analysis and make informed trading decisions.

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USDJPY breaks below key hourly MA. What next?

2023-05-10

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Discover the reasons behind the recent decline in USDJPY as we analyze the impact of better-than-expected CPI data. The price drops below its 100-hour moving average mark a key technical break with short-term implications. Sellers maintain control as long as the price remains below this level, while a move above it could lead to disappointment due to the failed break. Stay updated on the USDJPY chart and make informed trading decisions with our...

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EURUSD moves higher (lower dollar) and tests the 100/200 hour MA

2023-05-10

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Discover the recent sharp rise in EURUSD after the release of US CPI data. Stocks are up, and yields are lower. Watch as we analyze the pair's testing of the 100/200-hour moving averages (1.1003 - 1.1008) and the significant 50% retracement level (1.10157) from last week's high. Breaking above these levels indicates a more bullish outlook. Stay tuned for a concise technical analysis of EURUSD, uncovering key levels and insights. Subscribe for...

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Narrow Ranges in FX: Calm before the Storm?

2023-05-10

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2023-05-10

Overview: Equity markets are mostly weaker, and benchmark 10-year yields are a little softer. The foreign exchange market is subdued ahead of today’s US CPI. The large bourses in Asia Pacific region with the exception of India worked lower and Europe’s Stoxx 600 is off for the second consecutive session. US futures have a heavier bias. Yesterday the US bank share indices filled the gap created at the end of last week but recovered. Today’s price...

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USDCAD rotates from oversold levels to swing area resistance

2023-05-09

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Join us as we analyze the recent rebound in USDCAD from oversold levels. Yesterday, buyers stepped in near April's lows around 1.33137, preventing further downside. Today, the price has rallied to a high near 1.3406, entering a swing area between 1.34044 and 1.34214. For the buyers to maintain control, surpassing this level is crucial. Traders will then set their sights on the key 200-day moving average at 1.34459. Stay informed about the USDCAD...

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