| Here's a quick technical analysis on Gold with some fundamental background. For more visit ForexLive.com |
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USDCAD can’t extend above yesterday’s high and falls to 100 hour MA support target
2023-08-29
The 100 hour MA comes in at 1.3579 and into a swing area between 1.3564 and 1.35856
USDCAD buyers are more in control, but a 1.3603 ceiling is being built
2023-08-25
If the USDCAD can get above 1.3603, it should open the upside more for the pair. Conversely move below 1.3564 would be a precursor to a shift more to the downside today.
EURUSD tumbles to key support target. Will buyers lean against the key swing area?
2023-08-22
Buy zone for willing dip buyers in the EURUSD between 1.0833 and 1.08485
Crude oil retraces gains and traits back toward moving average support
2023-08-21
The 100 hour MA at $80.47 is support. The 200 hour MA is resistance at $81.82
The NZDUSD buyers tried to extend higher, but failed. What now?
2023-06-03
The buyers in the NZDUSD tried to break higher on Friday, moving above a key 200 hour MA on the hourly chart and swing level on the daily chart. However, momentum failed and the price rotated lower.
Prior to the rally on Thursday and Friday, the price did break below the 50% midpoint of the range since 2021 low on the daily chart opening the door for lower levels. That break also failed leading the snap back rally higher.
So for the week, the sellers had their chance, and the buyers had their chance. Both failed.
As a result, the price is back in a neutral area in the short term and waiting for the next shove.
Find out the key levels in play that will give traders clues in the new trading week.
AUDUSD is testing it’s a 200 hour moving average.
2023-06-01
A move – and close – above the 200 hour MA would be the first since May 11.
The AUDUSD is testing at 200 hour moving average of 0.65467. The high price reached 0.6548, and backed off on the first look. The current price is trading at 0.6537. The price of the AUDUSD is not trade/closed above it’s a 200 hour moving average since May 11. A break – and close above – would give buyers more confidence, and tilt the short-term bias in favor of the buyers. On a break above, the high price from Tuesday’s trade reached 0.6558. Above that and traders would start to look toward the 38.2% retracement of the May trading range. That level comes in at 0.65951.
Find out more in this video
USDJPY trades between hourly moving average levels. Await the next shove.
2023-05-31
The USDJPY is trading in a fairly narrow up-and-down trading range today. The low to high trading range is 75 pips. The average of the last 22 trading days (around a month of trading), is 117 pips.
Technically looking at the hourly chart below, the price low in the late Asian session approached the rising 200-hour moving average at 139.299 and found willing support buyers. The low price reached 139.307. The USDJPY price had not traded below the 200-hour moving average since May 12.
The subsequent move back to the upside, found willing sellers in the European morning session against its flattening 100-hour moving average currently at 140.07. The high price reached 140.055.
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