Category Archive: 4) FX Trends
A technical look at the major currency pairs as markets head toward the new trading day
Understand what level are important and why going into the new trading day on November 21, 2023
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EURUSD and GBPUSD move to new highs as London/European traders head for the exits
Both the EURUSD and GBPUSD are making technical breaks to new highs as European traders exit for the day.
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GBPJPY falls to swing area and 50% retracement of recent move higher. Buyers enter.
GBPJPY falls to swing area and 50% retracement before bouncing back, indicating potential for further upside movement.
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USDCAD moves higher and into neutral area between 100 and 200 hour MAs
The USDCAD has moved higher in early NA trading and in the process moved above its 100 hour MA. Above the 200-hour MA looms as resistance. So the price bias is more neutral with the buyers making the most recent play.
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Dollar Retreat Extended, but Turn Around Tuesday may have Already Begun
Overview: Last week's dollar losses have been
extended today. The yen is leading the move, encouraged by talk of a buying by
a large US real money fund. The Dollar Index is off about 0.35% after sliding
1.8% last week. It is below the 200-day moving average for the first time since
late August. As was the case last week, the Canadian dollar is the laggard. Emerging
market currencies are also mostly higher. The Chinese yuan's 0.67% rise is the
most...
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Gold Technical Analysis
Here's a quick technical analysis on Gold with some fundamental background.
For more visit ForexLive.com
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Week Ahead: How Hard Will Officials Push Against the Easing of Financial Conditions?
The combination of
soft US price data and mostly weaker economic data lends credence to a new
economic convergence. The economic news stream from Europe, Japan, and China is
not particular inspiring. Rather the convergence is driven by the materialism
of the long-anticipated slowdown of the world's largest economy. This new
convergence is negative for the dollar. Our conservative working hypothesis
continues to be that the US dollar's gains from...
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Yen Leads Charge Against the Dollar Amid Falling Rates
Overview: The Japanese yen is leading the
charge against the dollar today. Short covering in the Japanese bond market,
the decline in US rates, and some reports of real money saw the dollar tumble
to around JPY149.25 to approach the low for the month near JPY149.20. All the G10
currencies are firmer today, as are all but a few emerging market currencies. The
Dollar Index finished October near 106.55 and it has been finding support near
104.00 in...
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AUDUSD Technical Analysis
Here's a quick technical analysis on the AUDUSD pair with some fundamental background.
For more visit ForexLive.com
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Dollar Consolidates Amid Rate Volatility
Overview: The dollar is consolidating its
recent moves as interest rate swings continue. The US two-year yield has traded
in a nearly 28 bp range in the first two sessions this week, and near 4.88%
now, it is 18 bp lower since last Friday's close. The 10-year yield is slipping
below 4.50%. It reached almost 4.70% on Monday and had fallen to almost 4.40%
yesterday. Part of this reflects the shift in overnight rate expectations. The
implied yield of...
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S&P 500 Technical Analysis
Here's a quick technical analysis on the S&P 500 with some fundamental background.
For more visit ForexLive.com
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NZDUSD buyers lean against the 100 day MA and bounce the pair higher
The 100 day MA stalled the fall in trading today in the NZDUSD. That level was broken yesterday, tilting the technical bias more to the upside on the longer term chart. Staying above is important for the buyers today and going forward.
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