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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USDJPY Technical Analysis

2023-12-05

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

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Gold price soars to record high before dramatic plunge; Buyers still in play

2023-12-04

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Gold experienced a volatile trading day, hitting an all-time high of $2146.79 before sharply falling. Despite being below previous swing highs, buyers remain active. The market is now more neutral.

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GBPUSD revisits support levels, with bears gaining momentum.

2023-12-04

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GBPUSD tests floor area, bearish bias intensifies as price falls below moving average and seeks to break key support levels

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NZDUSD soars to new high, but is backing off. Traders watching 61.8% retracement.

2023-12-04

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The NZDUSD has reached a new high but backs off. Hold, and a potential rally towards the previous swing area is expected. However, a drop below key support could lead to a decline to the 200-day MA

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USDCAD in neutral territory as price rebounds, traders await the next shove (up or down)

2023-12-04

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Traders are now looking for a direction, with a move above the 100-day MA targeting retracement levels, while a drop below the 200-day MA would seek support near the 1.3400 level.

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Rates and the Dollar Come Back Firmer

2023-12-04

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2023-12-04

Overview: Weekend accounts seemed to try to understand what Fed Chair Powell said by beginning with the large drop in US rates. Yet, most accounts miss the fact that no matter what Powell has said, the market has more often than not reacted as if he were a dove. Rates have come back firmer today, perhaps as some recognized the overshoot. The US two-year yield is up nearly seven basis points after falling 14 before the weekend. The 10-year yield is...

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December 2023 Monthly

2023-12-02

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2023-12-02

As the year winds down, the global economy appears to be entering a new phase. While North American and European central bankers swear that they are prepared to respond to new threats to price stability, the markets demur. Indicative pricing in the derivatives markets reflects the general conclusion that the central banks have most likely completed the post-Covid monetary tightening cycle. Central bankers are pushing against a premature easing of...

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What Will Powell Say?

2023-12-01

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2023-12-01

Overview: The dollar traded better into month-end but is softer today. The Scandis and dollar-bloc currencies are leading with around 0.2%-0.5% gains. In addition to US manufacturing PMI and ISM surveys, and construction spending, auto sales will trickle in, but key for market participants today will likely be Fed Chair Powell's comments and the extent that he pushes against the dramatic rate cuts, with more than a 50% chance of the first cut by...

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AUDUSD Technical Analysis

2023-12-01

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

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EURUSD dips to key technical support. Weaker Eurozone CPI helps the sellers today

2023-11-30

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The EURUSD has fallen to a new session low, testing a swing area and a 38.2% retracement. Eurozone CPI data came in weaker than expected. The price also dropped below its 200-hour moving average for the first time since November 13.

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USDJPY Rebounds: Will Powell’s speeches tomorrow lead to the next shove for the pair?

2023-11-30

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The USDJPY experienced a notable rebound, reaching key technical targets. Fed Chair Powell's upcoming speeches may influence the pair's momentum, with a hawkish tone potentially driving further gains.

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NZDUSD rebounds from support and eyes upside momentum. What next?

2023-11-30

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After testing a key swing area, NZDUSD bounces back and aims for higher levels. The recent hawkish stance of RBNZ and a retreat from the 61.8% retracement level contribute to bullish sentiment.

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USDCAD volatility continues as traders remain cautious of recent technical break.

2023-11-30

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The USDCAD is experiencing volatility as oil prices rise following the OPEC decision. Traders are cautious after a recent technical break and are monitoring the 38.2% Fibonacci retracement level.

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The USD moves higher in early US trading as markets reacted data and OPEC. What next?

2023-11-30

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Some technical breaks in the 3 major currency pairs are tilting the short-term bias in favor of the US dollar

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The Dollar is Having One of Its Best Days This Month

2023-11-30

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2023-11-30

Overview: After being bludgeoned, the dollar is having one of its best days of the month. It is rising against all the major currencies. The Dollar Index is up about 0.5%, which is the most since the end of October. The greenback is also firmer against all the emerging market currencies but the Turkish lira and Russian ruble. Some of the demand for the dollar may be a function of month end, but also the disappointing Chinese PMI, revisions that...

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Gold Technical Analysis

2023-11-30

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

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AUDUSD breaks above key resistance at 0.6656, but fails to sustain bullish momentum

2023-11-29

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The AUDUSD has surpassed its 200-day moving average and swing area, establishing them as support levels. However, the pair struggles to close above the 61.8% retracement, which now acts as resistance.

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Reserve Bank of New Zealand hints at possible tightening to control inflation. NZDUSD up.

2023-11-29

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Reserve Bank of New Zealand leaves rates unchanged but suggests potential future tightening to tackle inflation, pushing NZDUSD higher. Buyers and sellers battle for control as market awaits the next move.

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USDCHF test support and bounces back, boosting the dip buying traders confidence

2023-11-29

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USDCHF falls to support target area near 0.8728 – 0.8743 but rebounds, giving dip buyers confidence. What next?

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GBPUSD reverses a key retracement level, potential for further downside

2023-11-29

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The GBPUSD reached the 61.8% retracement level but failed to sustain above it, leading to a reversal. Traders cautious for a correction lower would want the price to stay below this level at 1.27189.

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