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RSS USDCAD stretches higher and is testing a swing high target from 2020
The USDCAD is pushing higher, testing levels not seen since April 2020 at 1.4264. A break above this key resistance would open the door to the next target near the March 8, 2020 high at 1.4348. Since late September, the USDCAD has been trending steadily upward, starting from around 1.3425—a... -
RSS A technical look at the major 3 indices to start the new trading week
As the North American session begins, the US futures for the US stock indices are trading higher after a mixed result last week. US yields are starting lower by about 2 to 3 basis points after 10 year yields moved up by 25 basis points last week. The USD is mixed to start the new week with the... -
RSS USDCHF Technical Analysis – SNB’s larger cut weighs on the CHF
Fundamental Overview The USD continues to consolidate around the highs except against the commodity currencies where it extended into new highs. The US inflation data last week was once again a disappointment although the data that feeds into the Core PCE was overall benign as forecasters... -
RSS USDJPY Technical Analysis – The rise in Treasury yields drive the pair higher
Fundamental Overview The USD continues to consolidate around the highs except against the commodity currencies where it extended into new highs. The US inflation data last week was once again a disappointment although the data that feeds into the Core PCE was overall benign as forecasters... -
RSS What are the key technical levels in play for the major currency pairs next week
What are the technical levels in play for the major currency pairs vs the USD? EURUSD: USDJPY: GBPUSD: USDCHF: USDCAD: AUDUSD: NZDUSD: This article was written by Greg Michalowski at www.forexlive.com. -
RSS EURUSD sellers keep the pair below moving averages for most of the week....
The EURUSD is ending the week lower after an up-and-down path to the downside. The move to the downside fell below a cluster of MAs with the 200 hour MA being the one that has put a lid on the pair on Tuesday, Wednesday, Thursday and again on Friday. That ceiling increases the 200 hour MA... -
RSS GBPUSD sets the key levels to eye in the new trading week with the price action today
GBPUSD Technical Analysis: Sellers Regain Control The GBPUSD started the week in a choppy trading range, with buyers repeatedly testing the 200-bar moving average (MA) on the 4-hour chart. Over the first four days (and last Friday), the price briefly moved above this MA multiple times, but each... -
RSS US yields at highs and so is the USDJPY
US yields are trading at fresh highs, with the 10-year yield up 7.0 basis points today to 4.395%. This marks a 24-basis-point gain for the week, the largest 1-week jump since mid-January 2024. The rising yields have fueled a strong rally in the USDJPY, which continues to track higher. Key... -
RSS NZDUSD is testing swing lows from 2022 and 2023 . Can the floor be broken?
The NZDUSD is trading at a new 2024 low today, reaching 0.5753, positioning the price near the midpoint of key swing lows from November 2022 and end of October 2023: 0.5739 (November 2022 low) 0.5772 (October 2023 low) A break below this support area would strengthen the bearish bias... -
RSS AUDUSD sellers remain in control but with a key floor area on the downside being tested
The AUDUSD remains under seller control, but a critical support zone between 0.6334 and 0.6363 is currently being tested. This area has acted as a significant floor on the daily chart since November 2023. Recent Price Action Earlier this week, the price stalled at 0.6336, just above the lower... -
RSS USDCAD extends to a new 4+ year high. What discredits the bullish bias in the short term?
The USDCAD moved higher today, extending to a new 4+ year high of 1.4243, surpassing levels last seen in April 2020. The next key target is 1.4264, the high from April 2020. A break above this level could pave the way for further upside momentum. Why Multi-Year Highs Matter When an asset... -
RSS What is moving? Technicals in play for the 3 major currency pairs to start the new day
UK GDP came in weaker than expected -0.1% for the month versus +0.1% estimate. Construction output, industrial production, manufacturing production was also weaker and the trade balance had a larger deficit. The declines sent the GBP lower but buyers came in near technical support targets and... -
RSS Russell 2000 Technical Analysis – Inflation data doesn’t cooperate
Fundamental Overview The US CPI report on Wednesday came in line with expectations and sealed the 25 bps cut next week. That helped the Russell 2000 as the hedges into a potentially hot CPI got unwound. The gains though were short lived. The US PPI yesterday surprised to the upside and weighed... -
RSS Gold Technical Analysis – The focus has switched to the FOMC decision
Fundamental Overview Gold failed to extend the rally above the resistance zone around the 2723 level and pulled back as we got a technical break, and the US PPI came in higher than expected. In the bigger picture, the market’s pricing remained largely unchanged around three rate cuts by the... -
RSS NZDUSD trades near lows for the day and the year.
The NZD/USD hit a new low for the year yesterday, bottoming at 0.57604, just within the key swing area between 0.5741 and 0.5772 on the daily chart. The price rebounded into the close and continued higher during the early Asian session today, reaching 0.58138, a swing area aligned with the... -
RSS GBPUSD technical analysis: Key levels to watch for potential price movement
The buyers had their chances to push higher, but momentum failed to materialize. Over the past five trading days, the price moved above the falling 200-bar moving average (MA) on the 4-hour chart during four sessions. On the fifth day, the high for the session stalled precisely at the same MA... -
RSS EURUSD follows the technical script
The EUR/USD is following a well-defined technical script after the ECB's 25-basis-point rate cut. The pair initially dropped to a low of 1.0463, just above the upper boundary of a key swing area between 1.0448 and 1.0461. Buyers stepped in at this risk-defining level, triggering a rebound. The... -
RSS USDCHF runs higher after surprise 50 bp cut by the SNB. What next?
The SNB cut rates by 50 basis points to 0.50% from 1.00%, exceeding market expectations of a 25 basis point cut. Following the announcement, the USD/CHF pair climbed from 0.8820 to 0.88937, near the top of a key swing area on the hourly chart, between 0.88808 and 0.88941. Sellers initially... -
RSS AUDUSD has floor support and resistance at the 200 hour MA
The AUDUSD moved to the lowest level since August yesterday and in the process tested the lowest level going back to November 2023 near 0.6334. The price bounced higher into the close, ending the day at 0.6368 - just above the swing area high (see red numbered circles) on the daily chart at... -
RSS USDCAD finds sellers against the highs for the week
The Bank of Canada cut rates by 50 basis points yesterday and the initial reaction was lower (higher CAD). However, after falling below a target at 1.4145, and the rising 100-hour MA, the price snapped back higher. In trading today, the initial reaction was to the downside before rebounding... -
RSS Kickstart your FX trading for Dec 12 w/ a technical look at the EURUSD, USDJPY and GBPUSD
In the kickstart video, I take a look at the technical levels that are driving the three major currency pairs and explain, and show why. In the video I look at the EURUSD, USDJPY and GBPUSD. This article was written by Greg Michalowski at www.forexlive.com. -
RSS Nasdaq Technical Analysis – New all-time high as US CPI hedges get unwound
Fundamental Overview The US CPI report yesterday came in line with expectations and sealed the 25 bps cut next week with the probabilities standing around 97%. The Nasdaq rallied strongly as there were fears of potentially higher than expected data and the hedges into the CPI release got... -
RSS S&P 500 Technical Analysis – Strong rally as hedges into CPI get unwound
Fundamental Overview The US CPI report yesterday came in line with expectations and sealed the 25 bps cut next week with the probabilities standing around 97%. The S&P 500 rallied strongly as there were fears of potentially higher than expected data and the hedges into the CPI release got... -
RSS AUDUSD Technical Analysis – Strong Australian data pushes out imminent rate cut
Fundamental Overview The US CPI report yesterday came in line with expectations and sealed the 25 bps cut next week with the probabilities standing around 97%. Overall, the market’s pricing remained largely unchanged around three rate cuts by the end of 2025. This contributed to some US Dollar... -
RSS USDJPY Technical Analysis – The JPY weakens on known news
Fundamental Overview The US CPI report yesterday came in line with expectations and sealed the 25 bps cut next week with the probabilities standing around 97%. Overall, the market’s pricing remained largely unchanged around three rate cuts by the end of 2025. This contributed to some US Dollar... -
RSS Gold moves up to test swing level from last week of November. Crude oil higher as well.
The price of gold is moving higher and near highs for the day. The price is up $24.61 or 0.92% at $2718.36. The high for the day has reached $2721.16. The move higher is up testing the high from November 25 which peaked at $2721.41 jut above the high for the day. Get above that level and the... -
RSS USDCAD bounces back after initial declines failed to reach key targets
The USDCAD moved lower after the Bank of Canada rate decision as the reaction was it was more of a hawkish cut. BOCs Macklem during his press conference said that they discussed both 25 and 50 basis point rate cuts before ultimately deciding on a 50 bps reduction. That the decision was driven... -
RSS Buyers in the AUDUSD stall the fall at key floor target.
The AUDUSD hit a new low today, dipping into a key swing area between 0.6334 and 0.6363 on the daily chart. This zone has been significant since November 2023, marked by three distinct lows. The price reached 0.6336, just above the lower boundary of this floor (see red numbered circles on the... -
RSS USDJPY keeping the buyers and the sellers in play
The USDJPY continues to keep both buyers and sellers engaged in a tug-of-war. Following the CPI data release, the price dropped from just above the 200-bar moving average (MA) on the 4-hour chart at 153.79 to briefly break below the converged 100-bar MA on the 4-hour chart and the 200-day MA... -
RSS EURUSD retests 200 hour MA and finds sellers again
The EURUSD spiked higher after the CPI data but respected the 200 hour MA for the 2nd time today. In the kickstart video, I outlined how the price needed to get above the cluster of MAs to increase the bullish bias. That was not done. Sellers leaned. The price moved back down. The selling has... -
RSS Bank of Canada interest rate decision ahead. What to look for technically.
The Bank of Canada interest rate decision will be announced at 9:45 AM with the expectations of a 50 basis point cut in rates. Adam outlines the fundamental view in his post here: In my video below, I analyze the key technical levels influencing the USDCAD rate decision. With the pair trading...