Category Archive: 4) FX Trends
USDCAD down again and below the low of the “Red Box”
Stay below 1.4290 to 1.4303 keeps the sellers in control on the break outside the Red Box
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In the kickstart video for Feb 5 the USD is lower as US traders enter the fray for the day
Kickstart the FX trading day for Feb 5 with a technical look at the EURUSD, USDJPY and GBPUSD
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Yen Leads Further Unwinding of the Dollar’s Tariff-Threat Inspired Gains
Overview: The US dollar is trading heavily as the pullback from tariff-threat extreme continues. It is weakest against all the G10 currencies and most emerging market currencies. Stronger than expected wage growth and softer US 10-year yields has driven the yen to new highs for the year, to lead the major currencies with more than a 1% gain. The weakest among the G10 currencies is the Canadian dollar, which is up about 0.35% and is approaching the...
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GBPUSD extends to the topside target area and above the 50% midpoint. Buyers in control
The 50% comes in at 1.24532 of the move down from the December high. That is the close risk for buyer in the pair now.
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EURUSD has stretched to new highs and in the process moved above key technical targets
A swing area between 1.0332 to 1.0343, 100 hour MA at 1.03539 and 50% at 1.0371 have all been broken in the EURUSD. Bullish tilt and control.
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AUDUSD moves to new highs erasing the declines from weekend tariff news
The AUDUSD is back above the 100 hour MA and the 200 hour MA at 0.62038 and 0.6241. Buyers make a play but Trump/Xi ahead.
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The USDCHF continues fall after testing the January high and finding willing sellers
The 0.9200 level in the USDCHF stalled the rally yesterday. Today the price is below the 100 hour MA, the 50% and the 200 hour MA. Those levels are now resistance.
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Brinkmanship and Theater
Overview: After yesterday's wild gyrations, the foreign exchange market is calm. US dollar losses seen as the tariffs on Mexico and Canada were postponed with what many observers see as minor concessions, though Canada is going to have a fentanyl czar have not been extended, and a consolidative tone has emerged. The 10% tariffs om China were implemented but Beijing's response has been sufficiently restrained that it still appears to leave room for...
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USDCAD runs to a 22-year high on tariff news and backs off. What next technically.
The 50% of the move up from Friday stalled the corrective fall today at 1.45808. The 2020 high at 1.4660 is another barometer for traders today
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Kickstart the FX trading day (and week) with a technical look at EURUSD, USDJPY and GBPUSD
Discover the impact of tariff news on major currency pairs like EURUSD, USDJPY, and GBPUSD. Get insights on market reactions and potential trading opportunities amidst geopolitical tensions.
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Tariffs Roil Markets
Overview: The US made good on its threats to levy 25% tariffs on Canada and Mexico, and 10% tariffs on China. There still seems to be skepticism in the market, with many thinking the tariffs on Canada and Mexico may not last the week. Trump will reportedly talk with Trudeau and Sheinbaum today. The dollar did not trade high so much it was marked sharply higher in initial activity. That the Canadian dollar and Mexican peso was hit the hardest is not...
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