Blogs

The latest findings from the German Chambers of Industry and Commerce – Nearly 50% of industrial companies are putting investments on hold, cutting budgets – 75% of industrial companies are reporting declining demand See here for global coronavirus case data

Comments by French finance minister, Bruno Le Maire Franco-German proposal if The favourite pastime of lawmakers in the region has been kicking the can down the road and this has the makings of going down that same path once again.

A rather indecisive start to the European morning See here for global coronavirus case data Just over half-an-hour in, the DAX is trading at flat levels now as European equities see early gains wiped out to kick start the session. US futures are also well off earlier highs, up by around 0.3% currently after having […]

Comments by the Chinese foreign ministry – The letter tries to shift the blame of the US' own incompetence – Says that now is not the time to call for a coronavirus probe In case you missed it, Trump out the letter sent to the WHO in which the US administration criticised the lack of […]

The 0.6560-69 is home to a number of swing highs going back to end of April The AUDUSD has moved back up to a swing area at the 0.65606 to 0.65693 area. That area has stalled at highs starting on April 30 and again on May 11.  Today, the area was tested in the early […]

Swing area at 108.03-077 stalls the rally The USDJPY took a final run to the upside, but ran into overhead resistance at the 108.036-077 area (see yellow area – red numbered circles).  The sellers have pushed the price back toward the swing high from last week at 107.72-763. That high was joined by a swing […]

Move up from May 11 low nearly reached The USDCAD based on Monday, May 11 at 1.3899 and moved to a week high on Thursday May 14 at 1.41399. The price high on Friday stalled near a lower swing area. The dollar selling yesterday raced below the 100 hour MA, the 200 hour MA and […]

AUD/USD thinking about its next move The AUD/USD looks awfully similar to the S&P 500. Both a trying for the third time to break above the post-pandemic highs. The S&P 500 edged above it yesterday but you look for charts like this to confirm one another and so far that's not the case.

Key combo resistance level The 200 hour MA/50% retracement level stalled the rally at the 1.22693 area on the GBPUSD's run higher today. The high for the day reached 1.2267 and backed off.  

100 day MA at 1.09694 The  EURUSD tested the 100 day MA at 1.09694 in the London morning session and thought better of going higher just yet. The high price did extend to 1.0975 but quickly reversed. We currently trade at 1.0945.    Back on May 1, the price also moved above the 100 day […]