The AUDUSD is lower on the week, but since bottoming on Wednesday, the price has moved up and down. IN the process, the price has seen the price move above and below the 61.8% of the move up from the August low at 0.6575. The price over the last day or so has also moved

The US jobs report has come and gone, with hurricanes and strikes influencing the number. You can find out the details HERE. What has happened technically. In the video above, I outline the key technical levels in play for the EURUSD, USDJPY and GBPUSD and explain why. THe USD is lower but will that trend

The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the break. When the market trends you can get those counter-trend

The broader indices are trading to new session lows: S&P index is down -93 points or -1.60% at 5720.40 NASDAQ index is down -473 points or -2.55% at 18132.97. Looking at the NASDAQ index, it is trading above and below key support near 18146.61. The price is just below the level now and if the

Kickstart your trading day for October 31 with a technical look at the EURUSD, USDJPY and GBPUSD. What levels are in play and why. All is explained in the above video. EURUSD: The EURUSD has been confined between 1.07609 and 1.08725 over the last few weeks. As the US session gets underway, the high of

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The USDJPY is lower on the day, but has been able to points for buyers against its rising 100-hour moving average. That moving average, comes at 152.826. A move below that level would have traders targeting the rising 200-hour moving average of 151.972. There’s other support on the 4-hour chart at a swing area at

As we head into a myriad of economic releases and events including US jobs, inflation data, key earnings, US election, central bank decisions, it is important to understand where we stand from a technical perspective. IN the video, I take a look at 3 of the major currency pairs and make sense of the technical

The NASDAQ index is trading up 96 points or 0.52% at 18663.79. That takes the price above the July 10 high closing level of 18467.58. On Friday, the price high traded above that level intraday but failed. In trading yesterday, the high price also moved above that high closing intraday and failed (closing near the

The USDCAD has been stretching higher and is extending closer to the high price from 2024 at 1.39458. Move above that level and traders would target the 2022 high at 1.3970. Get above that level and the pair is trading at the highest level going back to 2020. In this video, I outline those topside

The USD is moving higher in early US trading. Yields continue to extend to the upside. Concerns about a Trump presidency with higher deficits are a tail wind. The EURUSD is running to the downside in early US trading after all and below its 100 hour moving average of 1.08034 and finally finding some momentum

The AUDUSD closed below its 200-day moving average on Friday at 0.6628. In trading today, the price remains below that 200-day moving average. Stay below that level, keeps the sellers more in control. In the Asian session today, the price initially moved lower reaching 0.65789. That took the price within four pips of the 61.8%

The GBPUSD buyers had their shot to make a move today. After bouncing off a key support level at 1.2938, the price surged higher, breaking above the 100 hour MA, 100 day MA, and 200 hour MA. However, despite achieving this technical breakthrough, the buyers failed to sustain momentum. On two separate occasions, the price

As the North American session begins, what are the key technical levels and why, are in play? EURUSD: The EURUSD moved above the 100-hour MA on Thursday and extended to the 200-hour MA on Friday. The pair’s prive moved to and then just above the 200-hour MA (green line on the chart below), but could

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The USDCHF continues to consolidate near highs in up and down trading: Key resistance: There is he resistance at the 100 day moving average at 0.86904. The high price for the week on Wednesday reached 0.86854. Getting above those levels is more bullish. Key support: Close support now comes in at the rising 200-hour moving

The NASDAQ index is soaring as yields back off. Durable goods were better than expected with ex Boeing numbers showing strength. The Michigan consumer sentiment came in better with inflation expectations lower than last month at 2.7% (versus 2.9%). The NASDAQ index is now up 243 points or 1.32% at 18658.80. The index is also

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The NZDUSD has moved lower this week, and in the process moved below a swing area between 0.6031 and 0.60387. That swing area was retested yesterday on a corrective move higher and found willing sellers. On the downside, the low price reached earlier today stalled at 0.5986. That was just short of the high of

The AUDUSD moved lower earlier this week, and in the process fell below its 100-day moving average at 0.66952. A corrective bounce higher on Tuesday saw sellers lean against that level. Going forward, that level is a key resistance target. The subsequent fall midweek took the price below its 200-day moving average at 0.6628. It

The EURUSD moved higher in the early US session and tested its 200-hour moving average currently at 1.08342. Although the price ticked above the MA line on a few hourly bars, the momentum stalled. The buyers turned to sellers, and the price has moved back to the 100-hour MA (blue line) at the 1.08056. The

The GBPUSD moved up to test the 200 hour MA (green line) at 1.29986. THe high price reached 1.29977, just below that level. The subsequent move to the downside has seen the price move lower and toward the 100-day MA and 100-hour MA. Both of those MAs come in at 1.29683. The dualing MAs increase

TGIF. The USD is mixed in early US trading as the market prepares for US durable goods data at 8:30 AM ET (est -1.0% with core at -0.1% est). Canada will release their retail sales data at the same time (est 0.5%). Later at 10 AM the University of Michigan revised sentiment will be released

BOJ Ueda is on the wires saying: Optimism over U.S. economic outlook seems to be broadening somewhat We need to scrutinize further whether optimism over U.S. outlook is sustained BOJ still can afford to spend time scrutinising risks Recent yen falls driven partly by optimism over U.S. economic outlook When looking at fallout from weak

The EURUSD is making a technical break into the close as it moves above its 100-hour moving average for the first time since September 30. That level comes at 1.08129. Getting and staying above that moving average is a win for the buyers. The next target comes against the 200 hour moving average at 1.08423.

The USD is correcting lower today as the North Amercan traders enter for the day. US yields are lower. The broader stock indices are higher. What are the key levels in the Forex today? EURUSD: The EURUSD extended the decline below the next downside target yesterday at the 1.07767 level (low from August.1) The momentum

The major US stock indices are tumbling to new lows. Dow industrial average is down 580.31 points or -1.35% at 42344 S&P index is down 80.43 point toward -1.37% at 5770.88 NASDAQ index is down 396 points or -2.13% at 18177.64. Technically, the NASDAQ index is moving toward its rising 200 hour moving average at

The USDCHF has been trading higher since September 30, and after breaking outside of the “Red Box” on October 4. The price moved up to a swing area and then above the 38.2% retracement during last week’s trading. On Monday this week, the price corrected down to retest the 38.2% retracement at 0.86318 and found

The forex markets has the USD moving higher as the NA sesssion begins. The moves are being led by the USDJPY (and JPY crosses) with a gain of 1.24% after it broke back above its 200-day MA for the first time since July 31. After moving down from 161.94 to 139.57 from July to September

I am listening to CNBC and the pundits are mostly spewing How the stock market is overbought. How the stock growth rate over the next 10-years will average 3% per year. How Trump winning will be bullish (PS everyone was bearish in 2016 when he was elected and it lasted about 1/2 a day). How