Technical Analysis

USDJPY gets a boost from the better than expected durable goods orders

Price moves back towards unchanged on the day The US durable goods report was better than expected and that is helping to give the USDJPY a boost back toward unchanged levels at 105.26. The high reached 105.22 so far.

More Technical Analysis

FOREX Thu 22 Mar

GBPUSD moves toward corrective next key downside target

The 38.2% and the swing high from March 19th on the radar The GBPUSD is continuing its move lower after the initial spike after the BOE statement found sellers. 

EURUSD Thu 22 Mar

EURUSD continues to rip back and forth. Sits in neutral area. What is that area?

The  price trades between the 100 hour MA and 200 hour MA The EURUSD continues to rip back and forth.   The last 15 days has seen the price move in a range from 1.22375 to 1.2443 .  

USDJPY Thu 22 Mar

USDJPY cracks lower and tests the March low

Tests the March 2nd low and stalls the fall The USDJPY has cracked lower and in the process has tested the low from March 2nd at 105.245. The first test held. A break below will open the door for more downside. The bears are in control. 

GBPUSD Thu 22 Mar

GBPUSD moves to new highs since early February after rate decision, but retraces the move

Price moves up 68 pips, and comes back down The GBPUSD shot up about 68 pips on the back of the statement/vote and traded at the highest level since February 2nd, but sellers entered, and have pushed the price back lower.  It currently trades down toward broken trend lines. The lowest trend line comes in at 1.41388 area. That also was the close from yesterday's trading. The 1.4144 level is the high going back to February 16th. 

AUDUSD Thu 22 Mar

Aussie fails to join in on the fun against the dollar

The Australian dollar is the weakest performing major currency on the day The jobs report released earlier was actually decent, but yet the aussie remains on the backfoot in trading today. AUD/USD is trading near the lows for the day, as the rejection at the 100-day MA (red line) proves to be the technical indicator that the pair is still struggling for upside momentum.

CABLE Wed 21 Mar

Cable climbs above the mid-February high. What's next

The pound climbs ahead of the BOE decision It's been a nice run for cable this week on the Brexit preliminary deal and now with the US dollar side of the equation helping out. Tomorrow is retail sales and the BOE decision.

RBNZ Wed 21 Mar

The NZDUSD is higher on the dollar selling with the RBNZ up next.

No change expected at 4 PM ET/2000 GMT The presser from Chair Powell is over. The dollar moved lower. That included the dollars move against the NZD.  That pair moved sharply higher through his speech. Seeing the pair traded at the lowest level since January 10th and also traded below the 200 day MA for the first times since January 4th yesterday and today, the rebound has left those breaks in the rear view mirror (see daily chart above).  PS/ the price also moved below the 38.2% and the swing lows from February and early March.  That area at 0.7175-83 was a key level. The break failed.

USDJPY Wed 21 Mar

Stocks reverse. Negative on the day. USDJPY follows. Dollar lower too.

100 hour MA retested. Price in the Neutral area. The US stocks have given up their gains for the day with all the major indices in the red now. That reversal, has the Pavlovian reaction of selling the USDJPY (and the dollar in general). 

EURJPY Wed 21 Mar

EURJPY tests 200 hour MA/50% retracement .

Level to eye... Quickly on the EURJPY, the pair has moved sharply higher after the FOMC decision and is up testing the 200 hour MA and the 50%  at the 131.03.   Key level to eye.  So far, sellers are leaning on the test. 

DOLLAR Wed 21 Mar

The dollar whips around after the FOMC statement/dots

Seeing mixed reaction with a risk on twist The EURUSD has seen the price move lower and then back higher on the first reactions off the statement (lower dollar). .

DOLLAR Wed 21 Mar

US dollar moves higher as London/European traders work toward close. What levels to eye through the FOMC.

The technical view for the EURUSD, USDJPY and GBPUSD through the FOMC decision.... The EURUSD held the 100 hour MA at the highs today (blue line in the chart below). The price has rotated back down into the swing area defined by swing lows going back to March 2nd between 1.2251-72.  

GBPUSD Wed 21 Mar

Up on Monday. Corrects on Tuesday. Up today. GBPUSD pushes back to month highs

The buyers showed up yesterday and today at technical support. Can It keep the momentum going now The GBPUSD moved sharply higher on Monday, corrected lower yesterday, and rallied back higher today.

EURCHF Wed 21 Mar

EURCHF doing a good job staying above a cluster of MAs this week

Bulls more in control above the MA lines The EURCHF has moved up in March (well from the Feb 27th low).  That move took the price to the highest level since January 24th. 

USDJPY Wed 21 Mar

USDJPY ping pongs between hourly moving averages

Support at the 100 hour MA. Resistance at the 200 hour MA. The USDJPY is "ping ponging" between the 100 and 200 hour MAs for most of the day as the FOMC decision, statement, dot plot and presser is awaited.

EURUSD Wed 21 Mar

EURUSDs run lower (and break) is at risk of reversing. What would weaken the bears story?

Back above swing area. Tests 38.2% of the move lower this week. The EURUSD ran lower yesterday and in the process moved below a swing area that stalled falls going back to March 2nd (see green numbered circles).  That fall reached the underside of the broken trend line at 1.22387 and stalled.  The grind back higher today has moved back above the "yellow area". 

USDCAD Wed 21 Mar

Good news on NAFTA sends the USDCAD to a test of a key MA target.

50% retracements are also eyed As the NA traders enter for the day, the USDCAD reached down to its 200 hour MA at 1.29752 and found some corrective buyers.  The catalyst was negotiations ()

FOREX Wed 21 Mar

The CAD is the strongest, while the NZD is the weakest at the start of the NA day

USD is mostly lower Two commodity currencies are leading the table of the strongest and weakest currencies today.  The CAD is the strongest on , while the NZD is the weakest as North American traders enter for the day.  The  USD is mostly lower with gains vs. the NZD and near unchanged vs. the AUD. 


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