Technical Analysis

Dollar moves lower after weaker durable goods

EURUSD take out last weeks highs on the news.  The EURUSD has taken out the highs from last week (was 1.1212) after the weaker than expected durable goods orders (-1.1% vs -0.6% estimate. Prior month -0.9% vs 0.8%).  The high price has so far reached 1.1218.

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FOREX Fri 23 Jun

Forex technical analysis: NZDUSD holding support levels and rising

Stepping higher and holding support The NZDUSD has moved higher over the last couple days. The price action can be choppy. The RBNZ was in play on one day. 

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USDJPY Fri 23 Jun

Forex technical analysis: USDJPY keeps on stalling near MAs

100 and 200 hour MAs keeping a lid on the pair The USDJPY over the last day or so has been pushing the 200 hour MA on a number of occasions (green line in the chart below). The little pushes above line were met with little momentum.  

EURUSD Fri 23 Jun

Forex technical analysis: EURUSD limping higher

Topside trend line /38.2 retracement eyed The EURUSD has limped higher in trading today after failing (once again) on the push to the downside.  The low for the week came on Tuesday and that low took out last weeks low. It was invitation to go lower but the break stalled. Since then, the pair has seen higher lows, in choppy trading conditions. 

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USDCAD Fri 23 Jun

Lower inflation, kicks the USDCAD higher

Sellers on retail sales yesterday, are buyers on weaker CPI The Canada CPI came in weaker than expected, and that has seen the USDCAD move higher - erasing some of the move after yesterday's stronger retail sales. 

USDCAD Fri 23 Jun

Forex technical analysis: USDCAD holds support ahead of CPI

Watch the 1.3208 area for support The USDCAD dipped back lower in overnight trading and tested the low from yesterday in the process at the 1.3208-11 area. That area has also been a swing area for the pair going back to June 13. A move below on a higher CPI number, should solicit more selling.

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FOREX Fri 23 Jun

The strongest and weakest currencies as NA traders enter for the day

The GBP is the strongest. The USD is the weakest. As North American traders enter for the day, the GBP is the strongest while the USD is the weakest.  Take note, however, the spread between each is very narrow. All the currencies are more bunched together.  

EURGBP Thu 22 Jun

EURGBP trades at lows/tests 100 and 200 hour MAs

Two MA converged at 0.8790 The comments from Kristin Forbes are giving the GBP a little bid. The GBPUSD is trading at a new North American session high of 1.2683 (the day high at 1.2686 is still above).

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FOREX Thu 22 Jun

Not a whole lot going on in forex markets

A quick summary The EURUSD has wandered further away from the 100 hour MA at 1.1161, but let's be honest....the range for the day was 24 pips at the start of the day. The range is 32 pips now.  The low reached 1.11449.  A trend line on the hourly chart comes in at 1.1144 currently. 

1
GBPUSD Thu 22 Jun

Forex technical analysis: GBPUSD takes the day off after the recent heat wave

With minutes to go in the London session, 33 pips is all she can muster today It looks as if the economic temperatures have moved back down in the UK today, but the impact from the heat has the GBPUSD market wilting in trading today. 

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EURUSD Thu 22 Jun

Forex technical analysis: Another choppy/non trendy day for the EURUSD

Trading near the low The EURUSD has started each of the NA session in a narrow choppy range. Today, the North American session started with a 24 pip range. The pair is to 27 pips (yippee) so far.  UGH.

1
NZDUSD Thu 22 Jun

Forex technical analysis: NZDUSD tests topside trend line again

100 hour MA stalls the correction... The NZDUSD moved higher after the RBNZ decision/statement and is the strongest currency on the day. The pair, nevertheless, stalled against trend line resistance in the London session. The price decline fell to support at the 100 hour MA and is back up testing the trend line.  A move above should solicit more buying with the 0.7276 and 0.7297 recent swing highs as targets.

USDJPY Thu 22 Jun

Forex technical analysis: USDJPY ratchets down but not an easy route

US yields are dipping The USDJPY is ratcheting to the downside but the route it is taking is not a smooth ride. Yesterday and on Tuesday, the pair stalled ahead of swing highs and the 100 day MA (at 111.79 today).  That sent the price back down.

USDCAD Thu 22 Jun

Forex technical analysis: USDCAD sinks after better than expected retail sales

Falls below 200 and 100 hour MA The Canadian retail sales price, surprised to the upside (+0.8% versus +0.3% est. and +1.5% vs +0.7% est for ex auto).  The CAD has gotten stronger as a result (USDCAD weaker). The fall has taken the price below the 200 and 100 hour MAs at 1.3268 and 1.32597 respectively.  Stay below is more keeps the bears  in complete control. 

1
FOREX Thu 22 Jun

The strongest and weakest currencies as NA traders enter for the day

June 22, 2017. The NZD is the strongest. The AUD is the weakest.   As North American traders enter for the day, the NZD is the strongest, while the AUD is the weakest.  

GBPCAD Wed 21 Jun

GBPCAD is the biggest mover on the day. What do the technicals say?

Move below the 200 day MA and 50% retracement failed.   The GBPCAD is the biggest mover today. The pair is up 0.61%.   Even though it is the strongest pair, it is not racing.  What is stalling the pair?

2
EURUSD Wed 21 Jun

EURUSD in that dreaded resistance area

Will the sellers put a lid on it The EURUSD has moved back into that ubiquitous area that has had a number of swing levels, i.e. between 1.11609 and 1.1171.    Technically a move above puts the pair back into the area where most of the trading has taken place over the last month, with the 1.1182-85 the next target (200 hour MA and 38.2% retracement).  

3
NZDUSD Wed 21 Jun

Forex technical analysis: NZDUSD moves sideways/lower into the rate decision

Still trades near recent highs.... The RBNZ will likely keep rates unchanged when they announce at 5 PM ET/2100 GMT.  However, there is some speculation that they will be more in line to raise rates down the road. Any mention of moving to more normal rates should be a boost to the currency.

2
OIL Wed 21 Jun

Oil falls to the lowest since August

The November low gives way What a terrible month for oil. It's down more than 20% since the May 25 OPEC decision after another 3% decline today. What's especially negative for oil is that three bullets were fired by the bulls today and they missed. 1) OPEC tried jawboning 2) The inventory report was slightly bullish 3) Technical support at the Nov low gave out.

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