IMF Lagarde: She’s a bit disappointed with world trade affairs Coming Up! Title text for next article Speaking FOXBusiness I applaud Pres. Trump as he focuses on the fiscal deficit On cryptocurrencies: many players will disappear We better be attentive to cryptocurrencies Should not overregulate cyrptocurrencies
Big day lower. 200 bar MA on the 4-hour targeted.. The Carney comments took the wind out of the GBPUSD sails. However, before he even spoke them, the pair was showing some cracks in the bullish armor. On Tuesday, the price moved to a new year high and to the highest level since Brexit 2016.
Metals have been on fire since the latest Russian sanctions Nothing is hotter than nickel at the moment. The industrial metal is up 15% since the start of the month and 7% today. It’s finally escaped the bear market of 2014-2015 and is now approaching the 61.8% retracement of that drop. Where next? The problem
There’s always someone who takes the joke seriously Drawing funny things on technical analysis charts is, well, funny. Forget trendlines and moving averages, you need the occasional dinosaur: Or duck: Katie Martin at the FT has been at it for years. Her signature is the vomiting camel and she even takes the joke a step
Not running but staying below… The GBPUSD tumbled in trading yesterday on the back of technical breaks and some weaker than expected inflation data. The fall took the price to the 50% retracement of the April trading range. The rest of the day saw trading above and below the 200 hour MA. The last 7
Technical levels in play and why through the Australia employment report Eamonn outlined the expectations for the Australian unemployment report out at 0130 GMT today. You can read all about it HERE. What are the charts saying and what levels are of importance through the number? Looking at the daily chart first, the end of
EURCHF moves closer to the 1.2000 level Adam surprise me by reminding me it was my 7 year anniversary (really?). It goes to show how time flies by when you are having fun. For the EURCHF, it is getting closer to a historic level. From 2011 to 2014, the SNB did it’s best to keep
A few pips here and there after the report The Fed’s Beige Book had little impact on the USD. USDJPY The USDJPY on the hourly chart trades around the midpoint of the 10 day trading range at 107.192. The 100 hour MA is above that at 107.245. The 200 hour MA is below at 107.118.
USD/CAD back below 1.2600 USD/CAD jumped nearly a full cent on the Bank of Canada decision to leave interest rates unchanged. No move was mostly expected but OIS pricing showed about a 20% chance of a move so the kneejerk higher was understandable. The bigger question is what comes next. There were some mixed messages
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ArticleBody Goldman Sachs technical analysis piece (Elliot Wave) on the yen This is from a weekend GS note, but its a longer-term look at the yen so still may be of interest This section is titled: USDJPY is approaching strong resistance ~108… And goes on, nominating a precise area: The level to watch closely here
Up 1.17% on the day Japan’s Nikkei is up 266 points or 1.22% in early trading. The move higher comes on the heels of some lofty gains in the US. The Nasdaq rose by 1.74%. The S&P rose by 1.07% and closed above its 100 day MA at the 2700.47 level. China’s stocks are also
Stepping back some of yesterday’s gains The GBPUSD is stepping back some of the gains from yesterday. The start of the catalyst today was the failure on the break of the topside trend line. We currently are moving toward a lower trend line at 1.4277 and below that the 100 hour MA at 1.42577. The
Remains confined to the range The USDJPY moved lower over the last few trading days, after peaking on Friday. The move to the high last week moved above a small ceiling at the 107.45-49 area, but came back down. Yesterday there was a run up after the weekend developments but also came back down. The
EUR/USD trades in a 12 pips range on the day Little action of note in the pair so far today, but the move towards the upside came after the pair broke free of the 100-hour MA yesterday here. As mentioned then, the break of the 100-hour MA opens up a retest of the high near
Waits on the next push In the new trading day, the RBA will release their meeting minutes and China will also release 1Q GDP (est 6.8%), retail sales and industrial production. That combination could lead to some movement in the AUDUSD. The pair has been confined between support and resistance over the last two days.
The price remains confined in the meat of the trading range The USDJPY is trading near unchanged levels at 107.31 in what has been an up and down session. The low today did find support buying near the 100 hour MA (blue line). The price dipped below the MA line but momentum stalled. Traders then
GBP/USD retreats once again after threatening a break of the highs this year Last Friday’s rally heading into the US session was a solid one, but ultimately it faltered when we closed the trading day/week. It’s one that is a familiar tale for cable, failing on several occasions so far this year to firmly break
Buyers trying to push but the 2 month range remains intact The buyers in the USDJPY are desperately trying to jump start the pair higher after the trend like move lower into the March low. How successful are the buyers? Well, it is a start and Friday tried to make a break for greener, more
What do the charts tell us? Can the pair break out? The EURUSD remained confined in a narrow trading range for the last two weeks. What do the charts tell us technically as we prepare for the new week. Of course the strike on Syria will have some sort of reaction on the opening. Does
The buyers had a chance to run higher but stalling The GBPUSD has moved back down to the 200 week MA at the 1.43388 level. The NY session low has reached 1.42394 and bounced to 1.42585. The current price is at 1.4248. With the market in the twilight of the week’s trading, and weekend risk
Bullish run doesn’t look so great now The AUDUSD ran higher today and in the process moved above the 100 day MA (blue line at 0.77849) and continued toward the 200 day MA at 0.78112. The high price reached 0.78093. Then the run started to run out of steam. The AUDUSD at the start of
Up and down trading over the last 6 days broken The USDJPY has been trading up and down over the last 6 trading days. Yesterday, there was a run to the upside, but the highs at 107.48 last week, could not be busted and the price backed off. Today those highs were taken out and
Back to back narrow range weeks (131 pips and 135 pips so far). Prepping for a break ahead…. The EURUSD this week is trading in a 135 pip trading range. Last week the range was 131 pips and that was the lowest of the year. The market continues to struggle in a non-trending range. This
Get back above 1.4271 …. The GBPUSD moved is 200 week MA today and put some room between the price and the key MA. A close above today would be the first week close above the key MA since October 2014. That is a long time ago. The 200 week MA comes in at 1.4239.
Final day of the week. Geopolitical risk over the weekend. Michigan sentiment and JOLTS. The strongest currency at the start of the NA session is the AUD. The weakest is the JPY. The USD has given up some of the gains seen in trading yesterday, but most of the activity is centered on the AUD
AUD is the lead gainer in the major bloc today Although trading range remains narrow, the aussie manages to eek out some gains early on in the day despite the lack of catalysts – there is Chinese import data earlier though. AUD/USD is trading at 0.7771 just shy of the highs today at 0.7778. Looking
Crude oil was lower. Now back to unchanged The price of crude oil moved lower in earlier trading but has seen a rebound higher over the last few hours as the prospects of a Syrian strike increases (or so it seems). The CAD has seen the a move higher this week (lower USDCAD). Looking at
1.2540 the low so far The latest round of housing data gave a small boost to USD/CAD but it’s faded already. USD/CAD is higher for the first time this week, but only by 19 pips at this point. Oil is suddenly back as part of the equation for USD/CAD traders. Not only because WTI touched