Blogs

Trend line and swing area in the way The GBPUSD is higher on the day but at the highs, the pair failed.  The fail was above the topside trend line (currently at 1.2522), and a swing area going back to April 16, 17 and then on Tuesday at 1.25137 to 1.25215.  That failure (and some […]

Key MA test as Lagarde press conference continues and US stocks fall pre-open As the Lagarde press conference continues and the US stocks fall in premarket trading, the EURUSD has moved sharply to the downside. Earlier, the pair tested the 61.8% retracement and 200 bar moving average on the 4 hour chart and held resistanc

Price moved toward 100 hour moving average The AUDUSD is under pressure as US stock futures move lower in premarket trading. Both the S&P and Dow are heading for a lower opening. The NASDAQ is given up much of its gains as well. 

Trades near unchanged on the day As the Lagarde press conference continues, the EURUSD is steady with the price little changed on the day at 1.0873. Technically, the high price today has stalled near it's falling 200 bar moving average on the 4 hour chart. That moving average comes in at 1.0887 level.  Also near that

Initial claims eyed The GBP is the strongest and the AUD is the weakest as NA traders enter for the day. The USD is lower as well after being the weakest currency yesterday. The ECB kept policy rates unchanged and reiterated it is willing and able to do more.  In addition it made TLTRO 

The pound climbs to session highs for the day in quiet trading See here for global coronavirus case data There's no major headlines driving the move here as the pound goes in search of a break higher, after having been driven lower yesterday towards a test of the key hourly moving averages just under the […]

EUR/USD moves to a session high of 1.0891 See here for global coronavirus case data Major currencies are trading more tepid to start the European morning, but the euro is gaining some light ground against the dollar as we see price push up to a high of 1.0891 after hovering around 1.0860 levels earlier.

Gold starts to track above its 100-hour moving average See here for global coronavirus case data Gold is trading at session highs to begin European trading, up by around 0.3% as price is inching just above $1,718 for the time being.

Fed releases statement on expansion of ministry loan program – Fed says main Street facility to have 3 loan options – Fed widens program to more levered firms, for more risk sharing See here for global coronavirus case data

ECB Press conference See here for global coronavirus case data