Blogs

The 200 day is now resistance The USDJPY has cracked below the 200 day MA at 108.29. It also fell back below the 38.2% of the March move higher at 108.407.  Those levels are now short term risk levels for the shorts now. Stay below and the sellers are in control.  

The 100 hour MA comes in at 2526.95. It is Friday. It is month/quarter end. There is expectation that there may be quarter end rebalancing to the buy side.  However, let me repeat, it is Friday with the coronavirus risks high over the weekend as Italy, Spain, US, New York City  in the news spotl

Trades to new session lows in the New York session On the downside, there is support near the 0.5973 to 0.59845 area. That is home to swing levels going back to March 19, March 20, March 24 and March 25. Yesterday the price extended above that level on its way to the high today.

It's Friday. It's the end of the quarter. Coronavirus fears dominate A snapshot of the major indices near the open are showing: in other markets: in the US debt market yields are lower with the yield curve flattening:

100 day MA above and 200 day MA below The USDJPY is trading lower in sympathy with lower stocks, lower rates today (at least that is the reaction today). Yesterday, stocks were higher and rates were marginally lower and the USDJPY moved lower. So there is some uncertainty with the correlation between rates and stocks […]

The 1.4150-63 is being tested after emergency rate cut The Bank of Canada had a another emergency rate cut of 50 basis points that has taken their target rate to 0.25%.

100/200 day MA and 50% retracement area found sellers The EURUSD moved higher in early trading and in the process found sellers near the 200 day MA at 1.10798. The high did peek above that level to a high of 1.1086 – 7 pips above the key MA – but in this time, that is […]

The USD is mixed As the markets digest the recent news that UK PM Johnson has tested positive for the coronavirus, the JPY is the strongest and the NZD is the weakest in the morning snapshot. The GBP is mixed as is the USD in early North American trading.  Stocks are set to open lower […]

An interesting reaction ForexLive The pound actually fell on the back of the headline, with cable dropping from 1.2290 to 1.2185 in under 15 minutes as traders scramble on what to make of the news.

USD/JPY is doing battle in between the key daily moving averages ForexLive The dollar is keeping mild gains against most major currencies still but it holding weaker against the yen in the session so far. EUR/USD is still settling around 1.1000 after a move down earlier while USD/JPY has moved up a little off lows […]