The Weekend Forex Report: A look back and ahead to the Dec 5, 2022 trading week

2022-10-13

What did the price action do to the technicals for the major currencies? One thing is it sent the dollar higher.

The USD has moved sharply higher after the higher than expected CPI data. The expectations for the Fed increase by 25 basis points. The market is now targeting a terminal rate between 4.75% at 5.0%. US yields are higher with the 2 year up at 4.48%. The 10 year yield is back above the 4% level. For the US dollar, the greenback has moved sharply higher.
– The EURUSD has moved below a swing area between 0.96621 and 0.9683.  Traders will behind that level as a resistance/bias defining area now.
– The GBPUSD is fighting between UK fiscal policy and the stronger CPI. The 200 hour moving average 1.1187 will be a barometer –
-The USDJPY has raced up to a new cycle high of

2022-10-10

The day after the better than expected US jobs report is seeing a modestly higher USD.
– The EURUSD and GBPUSD are lower but consolidating near low levels.
– The USDJPY remains above the 145.00 level as they brave potential intervention, but it is hard to fight the fundamentals in that pair.
– The USDCHF is higher and trading above its September highs as it now looks toward the 2022 highs. 
– Finally, the USDCAD is consolidating with a short term ceiling near 1.3752-61 stalling the rally. The 200 hour MA at 1.36768 is the floor of the 2+day up and down trading range. .

2022-10-05

Both the EURUSD and the GBPUSD moved lower in trading today and in the process erased much of the gains from yesterday.   Each also saw the price move below their respection 100 hour MAs (rising) and fail on those breaks. The corrective moves  have seen a rebound to shorter term upside targets that would give the buyers more hope IF the targets and momentum would continue.   IN this video, I outline the targets needed to be broken and explain why.

2022-08-03

The morning video looks at the EURUSD, USDJPY, GBPUSD and USDCAD