Aloha. The morning forex technical report outlines the key levels in play for key pairs
2023-05-15
Aloha. The morning forex technical report looks at the EURUSD, USDJPY, and GBPUSD. What levels are in play? Why? What’s next?
EURUSD finds support at 1.0900 and bounces. Resistance at 1.0942. Why?
2023-05-11
In this video, we analyze the recent price action of EUR/USD, focusing on the key levels and developments that impacted the market.
Today, the EUR/USD pair experienced a sharp downward movement, facing significant resistance against its 100-hour moving average during the Asia-Pacific session. The subsequent downside move found support just below the 1.0900 level. Moreover, several option expirations took place at that strike price today, adding further significance to the area.
However, in the last few hours, we witnessed a rebound back towards a floor area ranging between 1.0933 and 1.0942. Notably, the 1.0942 level holds importance on the daily chart as well, making it a key level for both buyers and sellers. Sustained price action below this level would suggest a more bearish
USDCAD moves down toward a key support target
2023-05-05
The USDCAD is moving closer to its 200 day moving average at 1.3440 after a couple days of steady selling in the pair. Higher oil prices have contributed to the Canadian dollars strength. The price of oil intraday yesterday reached a low of $63.70 yesterday. It is trading above $71 today. Will buyers come in against the 200 day moving average?
The RBA surprises with a 25 bp hike. What next for the AUDUSD?
2023-05-02
The Reserve Bank of Australia increase rates by 25 basis points in a surprise move and that sent the AUDUSD sharply to the upside.
What next for that currency pair as traders next prepare for the FOMC rate decision tomorrow? In the US morning Forex typing report, I also take a look at the technicals driving the EURUSD and the USDJPY at the start of the US session.