Blogs

Move below the 100 hour MA failed yesterday. Can the price get and stay below? What would tilt the NZDUSD more bearish? Yesterday, the answer would have been, "Move below the 100 hour moving average (blue line in the chart above)".

Higher low today The USDCAD has been trending lower since May 14th.  Since May 26th, the price has only had 3 hourly bars where the price closed above that MA (11 total hour the price traded above the MA).  The bears have been in control.

Trades back below the high from yesterday. The GBPUSD has come off what was new highs since March 21. The price high reached 1.2800 level and traded above that natural resistance level but only to 1.28014.  

Dow trades above and below unchanged.  S&P and NASDAQ open higher.  NASDAQ at new record highs The NASDAQ is opening at a new record high. The index is trading up 66 points or 0.66%. The high reached 10023.57 - a new record high

Above an old swing area… The EURUSD took out the high from last week at 1.13833.  The high price reached 1.13887 so far today.    The break is not exactly on fire with momentum. Having said that, the buyers are in control.  

Swing area in the 107.309-359 The USDJPY has moved steadily lower today. However, the fall has been consolidating over the last 5 or so hours in a swing area going back to May 20 between 107.309-359.  There has been tries to move below that level, but with little luck.

FOMC decision at 2 PM The AUD is the strongest and the USD is the weakest as the market awaits the FOMC decision and press conference later this afternoon.   The Fed is expected to keep rates and policy unchanged but all eyes and ears will be on the expectations from the Fed given all the […]

Cable continues the retracement The US dollar is soft ahead of the Fed and gold is higher. That's a signal the market is looking for something dovish from the FOMC even if the equity market is feeling the jitters.

USD/JPY continues to track lower since the start of the week For bank trade ideas, check out eFX Plus USD/JPY has been quite a mover since the start of the week, with the dollar broadly weakening amid the risk rally and also the yen benefiting from the renewed track lower in Treasury yields after an […]

GBP/USD moves to a high of 1.2779, the highest level since 12 March For bank trade ideas, check out eFX Plus Dollar weakness continues to be the fuel to drive the run higher in cable, with the pound also shrugging off negative Brexit developments from last week for the most part.