| The USDCHF is above a swing area between 0.89347 and 0.89472. Stay above is more bullish |
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ForexLive Video: USDCAD trades down and back up. Above the 100/200 hour MAs, but work to do.
2023-07-21
What are the technical levels telling us now and what levels would tilt the bias further in the pair.
The USDCHF sellers remain in control from longer and shorter term perspective. Here’s why.
2023-07-18
The price broke to the lowest level since 2015 in the long-term. Bearish. The price remains below its falling 100 hour moving average in the short term. Bearish.
EURUSD is stuck in the mud. A 35-pip trading range begs for a range extension. ForexLive Video
2023-07-17
In this ForexLive video, we delve into the current trading dynamics of the EURUSD pair, which has been stuck in a tight 35-pip trading range.
Despite recently reaching a new high not seen since February 2022, the pair’s lack of significant movement begs the question of whether a range extension is imminent.
Join us as we analyze the potential scenarios for the pair, discuss key technical levels to watch, and provide insights into possible trading opportunities.
USDCAD corrects to the upside toward the falling 100 hour MA. What next?
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USDCAD corrects to the upside toward the falling 100 hour MA. Earlier, the price of the USDCAD moved back above the 50% midpoint of the move up from the October 2021 low at 1.3132. That level is now key support again.
The USD is moving to new lows vs major currencies
2023-07-13
In this analysis, we examine the recent price action of the USD as it continues to move to new lows against major currencies.
The ongoing dollar selling pressure has resulted in significant breaks in some of the major currency pairs.
Join us as we explore the technical dynamics, support and resistance levels, and market trends driving the USD’s decline.
USDJPY continues it tumble to the downside. Down over 650 pips over the last 5 days
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In this video, we dive into the ongoing downtrend of USDJPY, which has experienced a substantial decline of over 650 pips in the past 5 days.
The sellers are relentlessly pushing the pair towards key daily technical targets.
Join us as we analyze the critical support and resistance levels, chart patterns, and trend indicators to gain insights into the driving forces behind USDJPY’s significant decline.
The USD continues to chop as the market gets pushed and pulled
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The USD continues to chop as the market gets pushed and pulled from higher inflation and lower growth, lower inflation and higher growth, good data, bad data, hawkish Fed members, less hawkish Fed members. Good earnings but lower earnings YoY. Lower margins, etc., etc. etc.
The USD has moved lower after the Philly Fed index was the lowest in 3 years (the Empire manufacturing surprised the upside on Tuesday so go figure). Yields are lower with the two-year down around 9 basis points.
Admittedly, the technicals are getting chopped up with the up and down volatility, but it is a reflection of all the above and nothing we can do.
So fall in like with your trades. Don’t fall in love with them.
The USD moves higher and retraces some of the week’s declines
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Fed’s Waller spoke to inflation remaining too high with more hikes needed ("hikes" as in more than 1 more hike). That has given the USD a boost in early NY trading. The 2 year is up 10 basis points. The 10 year is up 6 basis points.
In this technical report, I take a look at the EURUSD, USDJPY, GBPUSD and the USDCAD and outline the levels in play and show/explain why.
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