| The pair broke below the 200-hour MA and continued the decline today. |
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USDCAD moves higher into resistance and lower into support. The key levels remain in play.
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With resistance and support holding it increases those levels importance as the buyers and sellers continue the battle.
AUDUSD sellers remain in firm control. What is needed to give the buyers a victory?
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Unless the buyers can have a technical victory, they are NOT winning.
AUDUSD sellers take the price below the 100/200 hour MAs increasing the bearish bias.
2025-01-08
What next for traderss? What would tilt the bias back higher in the short term? What targets are in play and why?
Lots of up and down volatility in USDCAD as politics in Canada and US dominate
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PM Trudeau resigns his leadership post. Pres. elect Trump rattles the markets with tariff rumors.
What’s in play for the Canadian dollar
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This week’s Canadian dollar bounce highlights the Presidential premium
The world of foreign exchange is multi-variate so you never get a full grasp on what’s moving a currency on any given day.
Economics always overshadows politics and the US election has been playing out in the background for months. There are certainly election trades in equities and other pockets of markets but big macro trades have been tough to handicap, particularly because of the high probability of a divided congress.
Even last week as we entered the final countdown to the election, the signals were skewed because of a wave of top-tier economic data released alongside the final polls. Over a longer period of time, Treasury yields and the dollar have been rising but that’s mostly been due to better economic data
USDJPY buyers and sellers set the stage – and technical levels – for next week’s trading.
2024-11-02
What levels are in play for the USDJPY in the new trading week
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