Technical Analysis

Volatile NY session The EURUSD traded to the highest level since November 9th taking out last week’s highs in the process between 1.1890 and 1.18931. The high price reached 1.19053. Then all hell broke loose. The Markit PMI data came better than expected and there was a run into the USD. That move saw the
Sterling gains fade The New Zealand dollar is the top performer this week while the US dollar was the laggard. Even today with USD staging a bit of a comeback, it’s not sticking as the kiwi pushes back into positive territory. The break above the October highs is constructive for a retest of 0.6800 in
Reached a high today of $1900.64 The price of gold has given up its gains for the day and trades at new session lows.  The precious metal traded up as high as $1900.64, before losing steam after hopes for a stimulus deal started to fade.  The price is currently trading at $1882.70, $-4.79 or -0.25% The low for the
100 hour moving average above is resistance for the AUDUSD The reserve Bank of Australia kept rates unchanged but the tilt toward potential for further easing down the road. That helped to push the AUDUSD lower.  However, it is also off the lows on the day. Technically, the high price today stalled right at the high from last week
GBPUSD back below the 100/200 day MA The GBPUSD is trading to new session lows. The price just reached 1.2688. That took out the earlier session low at 1.26935. It also dipped below the low from yesterday at 1.26892. The low for the week currently comes in at 1.26737 and that would be the next downside
USDJPY falls to a new September low The USDJPY had a 59 pip trading range last week. That was the 2nd lowest trading range this calendar year (57 was the lowest range).  The non-trending market tends to transition to a trending market (see post from over the weekend).  The pair has trended lower today after holding below its 200