Blogs

Pair returns to February break lower point The NZDUSD traded above and below a swing area defined by swing lows and highs in the 0.6445 to 0.6486 area from May 2019 to February 2020 (see the price action above and belwo the yellow area on the chart below.  

EUR/USD with a classic breakout The breakout in the euro has been incredible — a 9-day rally. The break of the 1.1000/20 range has led to non-stop buying and today has been the best day yet. The bears attempted to sell EUR/USD after the statement and again after Lagarde's press conference but now the pair […]

50% midpoint of the year comes in at 0.95371. The USDCHF is trading to a new session low at 0.95447 and in the process is looking to test the 50% midpoint of the 2020 low to high trading range at 0.95371.  I would expect some pause near the level with stops on a break. The […]

Awaits the next shove  The USDCAD got with 16-20 pips of the 200 day MA on Tuesday and Wednesday. That was close, but not exactly skimming the target level. 

Looks to test hourly trend line The Nasdaq index moved to the highest level since, but has taken a turn back to the downside in the last hour and in the process looks to test day trend line on the hourly chart at 9616 area. The low for the day just reached 9622.988.  

Motoring on the bullish highway The EURUSD has squeezed higher and in the process has moved into the open road on the bullish highway.  Looking at the daily chart, the price is taking on the spike higher from March which ultimately took the price up to a high of 1.14918. What other levels are in the […]

Watching 108.844 level.  The USDJPY moved to the highest level since April 7 today (see daily chart below). In the process, the price moved above a topside trend line on the daily chart at 109.04. However momentum could not be sustained and the price rotated lower.

EURUSD steps higher. Held corrective support. The EURUSD has cracked above a topside trend line target at the 1.12835 level. The price extended to 1.12928 so far. The 1.1300 level is the next upside target. 

US 10-year yields hit the highest since March The break above 0.80% in ten-year Treasury yields is confirmation of what we're seeing in the broader market. The re-opening theme is in full swing now.

Early run higher reversed but buyers coming back in as I type…. The GBPUSD ran up in reaction to the ECB stimulus decision.  The initial run to the upside took the price back above the 100 day MA at 1.25593.  Recall, the price moved above that MA yesterday, and moved to a high of 1.26145 […]