Technical Analysis

NZDUSD finds a downside target and consolidate/corrects

Higher retail sales did not help the NZDUSD today In New Zealand at the end of the day, the NZ retail sales came out better than expected for the 4Q at 1.7% vs 1.4% (and the core up 1.8% vs 0.7%), but the price of the NZDUSD could not rally. 

More Technical Analysis

CAD Fri 23 Feb

Going into today's Canada inflation report - support & resistance for USD/CAD

Some technical analysis levels for the CAD going into today's CPI data, these are from overnight notes, So while the notes are not fresh the levels do appear still relevant (to me at least ... as of writing the post anyway)

EURUSD Fri 23 Feb

On EUR/USD ... short-term technicals

EUR/USD technical analysis - some of the support, resistance levels and patterns - this from an overnight note from Scotiabank EURUSD short-term technicals:

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CADJPY Thu 22 Feb

Forex technical analysis: CADJPY below the 100 week MA

Price falls below the 100 week MA at 84.48 today The CADJPY has moved lower today and in the process the price fell below 100 week MA at 84.481.  That is bullish/bearish barometer. We are below that level. Stay below and the bears remain in control.  Staying on the weekly chart, the 83.18 is the 50% midpoint of the move up from the 2016 low.  

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GBPJPY Thu 22 Feb

Forex technical analysis: GBPJPY keeps the bearish bias below MA resistance

Fall below MAs and trend line at the start of the day turned the tide lower The GBPJPY is one on the bigger mover today.  The push lower was made in the early Asian Pacific session when the price fell below the 200 hour MA (green line), the 100 hour MA (blue line), and a trend line (see chart above). That fall sent the price to a swing area in the 148.63 and 148.89.  The low reached 148.53.  

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NZDUSD Thu 22 Feb

NZDUSD settles around hourly MAs ahead of retail sales

4Q retail sales to be released at 4:45 PM ET/2145 GMT The next big economic event will occur at 4:45 PM ET/2145 GMT when New Zealands 4Q retail sales will be released.

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USDJPY Thu 22 Feb

USDJPY moves back down to test 50% retracement

Sellers did their job against the 100 and 200 hour MA on the corrective move higher... The USDJPY is back down retesting the 50% retracement level. The corrective move higher reached back to the 100 and 200 hour MAs (blue and green lines) The price moved above the 100 hour MA but stayed short of the 200 hour MA ().

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GBPUSD Thu 22 Feb

GBPUSD makes a second run at the topside trend line and BREAKS

First run stalled.   The GBPUSD made an earlier run at a topside channel trend line. The price stalled at the line and rotated back down. The low stalled at swing area in the 1.3923-293 area (see red circled numbers and the lower yellow area).  

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USDJPY Thu 22 Feb

Forex technical analysis: USDJPY returns back toward the 200 hour MA

Can the old support MA, now keep a lid on the correction? The USDJPY used the 200 hour MA as support in trading yesterday and for parts of today. In the early NY session, the MA was broken followed by a break of the 100 hour MA (blue line).  The fall took the price below the 50% retracement at 106.723 but that move was short lived, and the move has now taken the price back toward the MA levels.

EURUSD Thu 22 Feb

EURUSD back down to retest broken trend line level

100 hour MA stalled the rally today The EURUSD broke above a topside trend line earlier in the day and ran higher. That run took the price close to the 100 hour MA target (blue line in the chart below) at 1.23555 (). The high reached 1.2352 (the current 100 hour MA is at 1.23548).

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USDCHF Thu 22 Feb

Forex technical analysis: USDCHF reaches a cluster of technical support targets

100 hour MA, 38.2% and 200 hour MA The price of USDCHF reached a swing high area from Feb 8 and Feb 9 (see red circles) at 0.9408. That ceiling held and the price started its fall lower.

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NZDUSD Thu 22 Feb

NZDUSD breaks above 100 hour MA and 38.2% with not much resistance

0.7355 area is now risk for buyers. The dollar selling has the NZDUSD pushing above a couple of technical levels.  The move took the price above the 100 hour MA and the 38.2% retracement at the 0.7355 area. Both those technical tools came in at the same area and that usually gives traders a cause for pause. 

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GBPUSD Thu 22 Feb

Forex technical analysis: GBPUSD follows the USD lower trend

Bounce off lower trend line got the ball rolling The GBPUSD is following the USD lower, helped by finding a solid support low against a lower trend line (see blue circles). 

EURUSD Thu 22 Feb

Forex technical analysis: EURUSD tests topside trend line

Channel trend line comes in at 1.2315 The EURUSD has moved to session highs and in the process is up testing a topside trend line at 1.2315.  Will the sellers come in here against the level?  Risk can be defined and limited.  However a break above should keep the momentum going.   

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USDJPY Thu 22 Feb

USDJPY trades at a new session low and falls below 100 hour MA

100 hour MA at 106.986. The USDJPY is trading lower and to new session lows. ON the decline, the price has moved back below the 200 hour MA (green line at 107.15) and now the 100 hour MA at 106.986 (blue line).   The 38.2% retracement of the corrective move higher (that stalled with a triple top) comes was also broken at 106.98 area.  

USDCAD Thu 22 Feb

Forex technical analysis: USDCAD moves above 100 day MA after weak sales

100 day MA at 1.27100. Trades to 1.2750 after weaker data The USDCAD has shot higher (weaker CAD) after the weaker than expected retail sales (-0.8% and ex-auto tumbled -1.8% erasing the prior month 1.7% increase).

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FOREX Thu 22 Feb

The JPY is the strongest and the GBP is the weakest as NA traders enter for the day

The USD is mixed As North American traders enter for the day, the JPY is the strongest, while the GBP is the weakest.  Brexit concerns weigh on the GBP.  

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BONDS Wed 21 Feb

US 10-year yields rise to the highest levels since 2014

10-year yields break last week's high Looks like another round of worries about inflation and Treasury yields is brewing. The 10-year yield climbed above last week's high of 2.94% to the highest since early 2014. The big level of resistance is 3%-3.06% and then what happens once that breaks. Right now, the market is saying it will mean USD strength.

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