Technical Analysis

This article was written by Greg Michalowski at www.forexlive.com.

The USDCHF has been consolidating since August 20 or so with most of the price action between 0.8400 and 0.8537. That’s not alot of trading range over that time period. Buyers and sellers are battling it out. In the shorter-term, the price action on Friday and again today stalled against the 38.2% retracement of the…

The EURUSD moved higher to test the 100 hour MA, but did find willing sellers. The flash PMI was weaker but the inflation data was higher with S&P Global saying, the “prices charged for goods and services are both rising at the fastest rate support six months”. The US yields have moved higher with the…

Weaker flash PMI data sent the EURUSD and GBPUSD sharply lower in the European session, but while the GBPUSD retraced all this declines, the EURUSD remains lower. Technically,, the EURUSD fell below its 100 hour moving average of 1.11382. Recall on Thursday and Friday of last week, the price based against that moving average and…

As the North American session begins, the AUD is the strongest and the EUR is the weakest. The USD is mostly, but modestly lower. Overnight in China, authorities announced that PBOC Governor Pan Gongsheng will hold a press conference on financial support for economic development. Shortly after that announcement, the PBOC cut the 14-day reverse…

Fundamental Overview Last week, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of a risk management move with the dot plot showing two more…

Fundamental Overview Last Friday, the JPY weakened across the board following the BoJ policy decision as Governor Ueda made a surprisingly dovish turn by saying that “there is some time to make a decision on monetary policy because upside price risks have decreased given the recent FX moves”. He also mentioned that it’s important for…

Earlier today, in the kickstart video, I outlined the following key support level for the EURUSD. That level was shown and outlined between 1.1131 and 1.11399. Here is that clip…. So what happened? Below is the chart of the price action today. Of not is the low price stalled between the level outlined in the…

The NASDAQ index is down -100 points or -0.55%. The prices back down testing the low price from yesterday near 17909.75. Early today, the price fell below that level on its way to fill the gap from Wednesday to Thursday ( i.e the high from Wednesday). Buyers came in near the level and pushed the…

In the kickstart video from earlier today, I highlighted the key levels in the GBPUSD. On the downside the 1.3265 was key support. Looking at the GBPUSD price action since then (see chart below), the low price for the day came in at 1.32676, just 2 pips short of the targeted support. So the buyers…