Technical Analysis

AUDUSD falls below the 50% midpoint The AUDUSD is losing ground to the downside and has now broken back below its 50% midpoint of the move up from the March 2020 pandemic shut-down low. That level comes in at 0.6756. The current prices trading at 0.6740. The low price reached 0.6737. Sellers are looking to

AUDUSD got within 14 pips of the 50% midpoint The AUDUSD moved to the lowest level since July 15 yesterday, and in the process got close to the 50% midpoint of the move up from the March 2020 low. That level comes in at 0.6756. The low price yesterday reached 0.67706 (got within 14 pips).

USDCHF tests a swing area and the 100 day/100H MAs The USDCHF has seen a move higher that extended the gains from Friday. The pair moved to the highest level since July 21 and above the 0.9700 level in the process. The price has rotated back to the downside with the decline moving back to

The Jackson Hole symposium is kicking off officially today. That means central bankers will be speaking. The course Fed chair Powell will be the highlight tomorrow when he addresses the attendees at 10 AM ET. So what levels are in play today? EURUSD trades back below the 100 hour MA after the “try” above failed.

Crude oil moves back to the 200 hour MA/midrange The price of crude oil shot higher as Europe was heading into their close. The price rise moved above the 200 hour MA and a topside trend line. The 38.2% of the move down from the July 29th high was tested near the $91.87. The high

The major US indices are lower to start the US trading day. S&P index tested its 200 day moving average yesterday The S&P index is lower for the 1st time in 4 days. Yesterday, the index tested its 200 day moving average currently at 4324.51. Sellers leaned against the level and closed below the key

The USDJPY continued it’s move higher today after reaching a low of 132.419 yesterday. That move took the price below a swing area between 132.24 and 132.479. However, when the price move back above the swing area during the US session yesterday, sellers turned buyers and that momentum has continued into today. In the morning

USDJPY is going nowhere, but it will at sometime The USDJPY is going nowhere. The range is only 53 pips which is well below the 22 day average of around 153 pips. Relatively speaking the price is non-trending. That dynamic could be good and is often good as non-trending transitions to trending. Putting it another

AUDUSD tumbles after stronger jobs report. The morning video plows through the technicals and risk levels for the EURUSD, USDJPY, GBPUSD, USDCHF and USDCAD. To get my view on those pairs with risks and targets, CLICK HERE. The AUDUSD is also reacting to the stronger US jobs report where over 500K jobs were added in

A simple and clean technical analysis snapshot for the Japanese Yen vs US Dollar USDJPY is still in Short after crossing down a bullish channel shown in the price chart image and the technical analysis video below The crossing down triggers a bear flag, on the daily timeframe. This simple technical analysis formation tends to

The strongest to weakest of the major currencies The JPY is the strongest and the EUR is the weakest as the NA session begins and the day after the FOMC rate hike of 75 basis points where Chair Powell’s comments on rate dependency were met with positive ears from the market given the back off

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The USD is stronger today with the EURUSD and GBPUSD moving lower (higher USD in the process). Both moved lower after testing resistance targets and stalling. They also moved below target support, turning buyers to sellers. The USDJPY is waffling between MA support and resistance. The USDCAD is trying to move higher after weaker than

The 10 year yield has a floor at 2.9%. The US 10 year yield moved lower this week, helped by flow of funds out of the longer end as the yield curve between 2-10 year moved negative on expectations the Fed would be forced to tighten hard to halt inflation. Looking at the hourly chart,

EURUSD trades to a new session low The  EURUSD  is trading to a new session low and in the process is getting closer to the parity level at 1.000. The low price just reached 1.00345. Looking at the 5 minute chart, the price correction off the earlier New York session low at 1.0051 saw the

The strongest weakest of the major currencies The JPY is the strongest and the CHF is the weakest as the NA session begins. The currencies are fairly scrunched together with modest moves vs the close from yesterday. Most of the major pairs have seen up and down (or down and up) price action. The JPY

Me and Eamonn both highlighted the bearish outside day in oil yesterday and it’s coming to pass. There was a bearish outside day yesterday and it came after a test of the 50-61.8% fibonacci retracement level of the June swoon. OPEC+ today was a non-factor as it endorsed the August production hike that was already

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