Blogs

EUR/USD falls to the worst levels of the day I don't like this chart at all. It looks like a head-and-shoulders within a head-and-shoulders: For some reasons, also at a two-year high. I tend to brush that aside as some

German DAX, -0.7%. France's CAC, -0.8%. UK's FTSE, -0.6% The major European indices are ending the session with declines across the board. The provisional closes are showing:

Low for the day reach 106.694 in Asian and New York trading The USDJPY his back down retesting its low for the day at 106.694.  The pair in the Asian session bond at 106.696. A move below the level will next target the lows going back to June 11 and June 12. They came in around the 106.565.

New lows for the pair The GBPUSD (and GBP) continues its run to the downside. The pair cracked earlier below the 50% midpoint on the daily chart at 1.2461, and later the 50% of of the move up from the May 16 low on the hourly chart at 1.24423.  The 1.2424 was a minor target […]

NASDAQ higher The major US stock indices are opening mixed. The NASDAQ index is trading higher while the Dow and S&P are down on the day. A snapshot currently shows:

Cracks below the midpoint of the range since the December 2019 high The GBPUSD is trading to the lowest level since June 1 reaching a new low at 1.2442. That move lower has also taken the price back below the 50% midpoint of the range since the December 2019 high (to the low reached in […]

Floor being developed near the 38.2% of the move up from May 25 swing low. The EURUSD fell to the 38.2% of the move up from the May 25 low AND recent lows from June 12 and June 17 at 1.1211 and 1.1206 respectively.  The 38.2% is between those levels at 1.12105.  The low today […]

Cable rises from 1.2490 to 1.2550 before fading gains at the moment A couple of key takeaways from the BOE decision earlier: 1. QE increased by £100 billion as expected

The pound is falling to session lows on the day now The pair is up by a little over 0.5% now as buyers are taking a look just above the 0.9000 handle as we start to count down to the BOE policy decision later today.

AUD/USD got a nudge from 0.6875 to a high of 0.6903 on the headline And price action is now settling around 0.6880-90 levels as we see stocks also pull back some of the knee-jerk reaction to the earlier headline by China.