Technical Analysis

The 100 day MA is now risk for the sellers. The USDJPY has broken below its 100 day moving average at 109.403. That is the first move below the moving average since January 29, 2021. Bearish technically.  It will now take a move back above that level to tilt the technical bias back to the upside.   The price low traded

GBP/USD falls to 1.3805, keeps more sluggish to start the day The pair hit a high of 1.3898 yesterday after more hawkish remarks by BOE policymaker, Michael Saunders. In case you missed it, you can check them out here. Invest in yourself. See our forex education hub. There was a bit of a pullback after

NZD/USD holds above 0.7000, trades near the highs at 0.7025 Growing expectations of a RBNZ rate hike next month is fueling a move higher in the kiwi, with NZD/USD up 0.6% today to 0.7025 currently. The pair is once again looking to try and hold a break above 0.7000 but after the failure to hold

Only one thing can explain the broad market moves this month If you start with the assumption that the pandemic doesn’t matter to markets — and it hasn’t for a year — then the broad price action and macro picture doesn’t make sense. Talk of a Fed policy error or bottleneck problems or anything else

BOE Saunders says ending QE is a possibility in the forthcoming meetings and that rate hikes could follow next year That has seen cable come to life in a move from 1.3840 to a session high of 1.3884 as buyers also push for a move above the 100-hour moving average (red line): BOE policymakers have

The dollar is picking up some momentum ahead of North American trading Fresh lows for commodity currencies, in particular the antipodeans as the dollar is seeing a bid going into US trading today. AUD/USD is down to a low of 0.7447 as price continues to back away from a test of the 200-hour moving average

NZD/USD falls back below 0.7000 Invest in yourself. See our forex education hub. The RBNZ produced a more hawkish tilt earlier in the day, signaling an end to QE and setting the platform to raising rates perhaps at next month’s policy meeting. That sent the kiwi soaring with NZD/USD jumping to as high as 0.7030

The 200 hour MA stalls the fall. BOC decision at 10 AM The USDCAD has moved down (with the overall dollar selling) and has reached the 200 hour MA at 1.24512. The 50% of the move up from the July 6 low comes in at 1.24458 just below that level.   Traders have stuck a toe

The dollar is slightly higher going into European trading The ranges for the day are still relatively narrow, but they are beginning to stretch a little with EUR/USD easing from 1.1870 to 1.1857 (still sitting in a 22 pips range though). The greenback is also seeing mild gains against the pound and franc, while holding

EUR/USD a little lower to 1.1845-50 but holds above key near-term levels Invest in yourself. See our forex education hub. The range for the day is stretching a little but the overall move is still relatively light, all things considered. The pair is seen on the retreat from 1.1875 to a low of 1.1842, testing

The risk mood is more tepid in European morning trade European indices are a bit mixed, a little lower to start the new week, with US futures also trailing slightly after the solid bounce on Friday. That is not giving market participants much to work with, as Treasury yields are also slipping a little down

GBP/USD down 50 pips to 1.3849 currently Invest in yourself. See our forex education hub. The pair had a great showing on Friday, erasing the week’s losses altogether in a push to the week’s high of 1.3900 at the time. The opening levels today stuck there but there has been a steady retreat since –

USD/CAD pushes for more gains after yesterday’s turnaround Invest in yourself. See our forex education hub. The turnaround and further retracement in oil prices yesterday helped to flip the loonie on its head, as USD/CAD went from being lower in European trading to pushing back towards 1.2500 in North American trading. The pair closed below

10-year Treasury yields sink below 1.30% Invest in yourself. See our forex education hub. The bond market continues to flash a warning sign to the rest of the market as we now see 10-year yields sink below 1.30% to its lowest since February. The retreat since the FOMC meeting in June has been rather swift

USD/JPY searches for first day of gains in six days Invest in yourself. See our forex education hub. It is still too early to be saying what the latest bounce in yields really represents and the same can be said for USD/JPY price action at the moment. The pair managed to find some support from

A look at the CAD/JPY weekly chart Yesterday it looked like CAD/JPY could be headed for an ugly weekly pattern on the chart, falling straight through the June lows in the worst week in just over a year. Today though, the pair has climbed 80 pips to back within the recent range to limit the

AUD/USD turns around the earlier drop to climb to 0.7460 The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being. European equities are rallying while US

USD/JPY tests key trendline support as the yen leads gains today Invest in yourself. See our forex education hub. The latest downdraft in Treasury yields is finally stirring up some nerves in the market, as European indices are marked lower at the open with US futures also falling in tandem. This in turn is helping