Blogs

A trading range of 1052 pips The USDJPY is finishing up a month where the low to high trading range has totaled 1052 pips.  That is the 3rd highest range going back 10 years and the highs in trading range since November 2016 (US election month).   The total range for 2019 was 939 pips. So one mo

859 pip trading range It is the last day of March in what has been an outlier month in fundamental and technical perspective. Fundamentally, not only was there the historic coronavirus pandemic, but the market also absorbed historic Fed and central bank action, and historic global fiscal stimulation. 

100 hour MA and 38.2% of the last leg higher at 0.60818 If I were to put a market barometer level for the AUDUSD it would be at the 0.60818 level. That is the home to the rising 100 hour MA and the static 38.2% of the last trend leg higher (from Thursday's low).  The […]

Flows dominating but technicals compelling Today was the third test of that line and it's held so far. We're getting slightly better news from Europe but the US is clearly deteriorating on the coronavirus front.

Back above a topside trend line The GBPUSD has completed a down and up intraday lap in trading today. The early Asian high came in at 1.2420. The high price just reached 1.24227.   In the procecss the pair moved above a topside trend line at 1.2389.  That is a risk level now for buyers looking for […]

Major indices down about -0.5% give or take The major US stock indices are opening lower, but off the premarket low levels. Generally speaking, the major indices are down about -0.6% to -0.7% in early trading.

Key target for the USDCAD The USDCAD is trading at a new session high and in the process is testing its 200 hour moving average and 50% retracement at the 1.42844 to 1.42935 area. We currently trade at 1.4289 between the levels.

Here's why… The USDCHF has participated in the dollar rally over the last few days of trading (including today ). The move higher today took the price above its 100 hour moving average for the 1st time since March 25. The price also extended above the 38.2% retracement of the move down from the March 20 high. […]

Intraday ceiling at 108.707. The 200 day MA is at 108.296 The USDJPY moved higher in early Asian session but has been consolidating in an down and up and down market around the 200 day moving average over the last 12-13 hours of trading today.  The 200 day moving average currently comes in at 10

Cracked below target support levels  The EURUSD in the Asian session was able to crack below the floor at 1.1009-11 but ran into trend line support and the 100 hour MA.   Buyers pushed the price higher into the European session, but the price decline resumed as trading picked u