The AUDUSD moved above a ceiling from June and July 2023 near 0.6900 last week on it’s way to a high near 0.6941. After trying to hold support near the 0.6900 level on Friday, Monday and part of Tuesday, the sellers started to exert more downside momentum falling to a low of 0.68557 in the

The USDJPY is trading to a new high at 146.47. In doing so, the pair is up testing the high from last Friday at 146.465. Technically, a move above that high with momentum would have traders targeting the tabletop near 147.189 from September 2 and September 3 The move was largely driven earlier in the

The USDCAD is waffling up and down in trading today with the current price trading near lows. Yesterday, the price closed below its 100 hour moving average (blue line) and 200 hour MA (green line). That is a bearish tilt technically. Today the 100-hour moving average and 200 hour moving average are near converged at

Looking at the S&P 500 index, it is down by -59.03 pointer -1.02% at 5702.88 . The low price for the day extended to 5681.28. The high price is at 5757.73. On the downside, the rising 100-hour moving average comes in at 5675.06. So the low price at 5681.28, got within about six points of

The GBPUSD downside has continued with the price breaking below its 38.2% retracement of the September trading range at 1.3268 and has move down to test the rising 100 bar moving average on a 4-hour chart at 1.3243. The low price just reached 1.3244.For the EURUSD, the price is falling below a swing area between

The USDCAD pair has moved lower during the North American session as declining US yields and rising oil prices weigh on the pair. Technically, the price has fallen below the 200-hour moving average at 1.3509, while finding support near the rising 100-hour moving average at 1.3494. Trading between these moving averages reflects a neutral technical

The Fed Chair has tapped the brakes after saying if things go as planned, there will be 2 more cuts in 2024. The expectations for a 50 bp cut is down to 36%. At one point last week, the expectation was around 60%. USDJPY: The USDJPY has moved up to test, and move above, the

Crude oil settled today just one cent lower at $68.17. The low price today reached $67.60. The high price reached $69.18. At session lows, the price stayed above a swing area going back to 2023 between $66.76 and $67.51. On both Thursday and Friday of last week, the price stalled within that area and bounced

The USDCHF moved down on Friday and once again moved closer to the low of the up and down swing area that has confined most of the trading going back to around August 20. The low for that swing area comes in near 0.8400, and on Friday and again today, that area was tested and

In the post yesterday on the USDCAD, I spoke of support on the daily chart going all the way back to February 2024 and March 2024. Those lows came in at 1.3412 and 1.3419. Yesterday the low price reached 1.34189, and started to bounce. In that same post I talked about target levels at 1.3465

Fundamental Overview The USDJPY pair this morning has been on a rollercoaster. Initially, we got a rally following the soft Tokyo CPI numbers and then Takaichi winning the first round of votes in the Japanese election. Things turned around quickly in the run-off as Ishiba won triggering a selloff in the pair. Takaichi was the

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the

The JPY is the strongest and the GBP is the weakest as the NA session begins. The USD is mixed to modestly lower mainly because of the -1.02 decline in the JPY. The other changes vs the major currencies are showing modest changes on the day with the USD higher vs the EUR, GBP, CAD,

The USDCHF is moved lower on the back of the PCE data today and that move has now taken the price of the USDCHF to 0.8400 target. Remember, that area is a low of an up-and-down trading range that has confined the pair going back to August 20. The high of the area comes in

The AUDUSD and NZDUSD are trading it to new highs. For the AUDUSD, it is breaking to the highest level since February 2023. For the NZDU it is trading to the highest level of the year but his just short of the end of December high at 0.63684. For the USDCAD, it has traded mostly

The US PCE data was lower than expectations and it helped to push the USD lower. For the EURUSD, the price has moved above a swing area between 1.1181 and 1.11897. The next targets are at 1.1200 and the high for the week at 1.12130. Getting above those levels will have traders targeting the 61.8%

The EURUSD started the day with volatile up-and-down price action. The price was trading above and below 100/200 hour MAs indicative of uncertainty from buyers and sellers. IN the morning video, I talked about this dynamic. I gave the small nod to the buyers on the back of higher lows, the price was above the

In this video, I take a look at the three major commodity currency pairs vs the USD: The AUDUSD, USDCAD and NZDUSD. The AUDUSD has been testing swing highs going back to June and July 2023 both yesterday and today. Yesterday the price moved above does highs between 0.68947 and 0.68997, but could not sustain

In the kickstart video for September 26, I take a look at 3 major currency pairs – the EURUSD, USDJPY and GBPUSD. For the EURUSD, the price action today and over the last few trading days, has been up and down volatile. On most days, there are technical levels that the “market” pays attention to.

Earlier today, the price of the GBPUSD moved to the highest level going back to January 2022. In the process, the price moved into a swing area between 1.3411 and 1.3511 on the weekly chart (see red numbered circles on the weekly chart).. Seller on the first return to that area leaned against it and

The NZDUSD has been tracking the 100-hour MA higher There have been some brief moves below the 100 hour MA over the last few weeks, with a few times when the price dipped below the MA but quickly rebounded higher. Today, there has been another dip below the 100 hour MA. Seller are “making a

Both the EURUSD and the GBPUSD traded to new 2024 highs but at different points of the day. For the EURUSD it is extending above the 1.12000 level over the last few minutes of trading. That takes the pair to the highest level going back to July 2023 when the price high ultimately peaked at

The AUDUSD is moving higher today. The RBA kept rates unchanged: The Reserve Bank of Australia (RBA) was the latest central bank to announce its policy objective when it left its cash rate unchanged at 4.35% in September 2024, as expected. The central bank noted that current policy remains restrictive and is working as anticipated,

The USD is continuing its run to the downside with the greenback trading at new lows for the day vs ALL the major currencies. EURUSD: The EURUSD is trading to a new intraday high of 1.11661. That is just short of the high from yesterday at 1.11665. Move above and the high from Friday at

As the North American session begins, the CAD is the strongest and the JPY is the weakest. The USD is mixed to start the day with US stocks marginally higher and yields continuing their run to the upside despite the Fed rate cut of 50 basis points last week to recalibrate rates given the inflation

The USDJPY has had its share of ups and downs in trading today. In the NY session the high reached up toward resistance at 144.58.That level represents the 50% of the pair trading range from the January 2023 low (see the chart above). The high price in the Asian session reached 144.45 which also was

The NZDUSD is moving higher today after the dip lower in the Asian/early European session found willing buyers near the 100 hour MA. Buyers have been leaning near that MA over the last 6 or so trading days. There have been some small break (on Friday and also on Thursday), but not for long. Today’s

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