Technical Analysis

Forex technical analysis: Can the NZDUSD stay above it's 200 week MA?

Last week closed above key MA, but not by much Last week, the NZDUSD moved higher and in the process, moved above the  The pair closed above all those levels at 0.7453. 

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USDCAD Mon 24 Jul

USDCAD overstretched. So says SocGen

Tentative pause ahead Societe Generale FX technical strategy research, sees the 1.2460-1.2500 area as a crucial level and as such think that a tentative pause can't be ruled out once this is achieved.  Weekly stochastics has now reached a pivotal floor.

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TECHNICAL-ANALYSIS Sun 23 Jul

The EURUSD near highest level since August 2015. What next?

The technical picture  traded to the highest level since the August 24, 2015 spike, that saw the pair move up to 1.1711. The high price on Friday reached 1.16825.  

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GOLD Fri 21 Jul

Gold breaks higher. Back above 100 day MA and 50% retracement.

Looking more bullish. Is it the dollar lower?  Is it a big buyer or some other gold story? I don't really know, but what I know is gold is looking better technically.  

EURUSD Fri 21 Jul

Forex technical analysis: EURUSD moves to new session highs

Moves further away from the 1.1615 area The EURUSD is moving back  above the highs from earlier in the day.  toward   As per the prior post, the pair today had stayed above the 1.16157 high from May 2016.  That's bullish. 

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USDCAD Fri 21 Jul

Forex technical analysis: USDCAD bounces off first trend line target

The fall is slower this week, but buyer still can't really win , the sellers remain in control in the USDCAD. The high today remained below the 100 hour MA. It stalled at a topside trend line.  

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NZDUSD Fri 21 Jul

Forex technical analysis: NZDUSD moves above 200 week MA

First break above since September 2014. The NZDUSD continues to outperform to the upside. Today, the pair's price moved above its 200 week MA at the 0.7428 level. The last time the pair traded above that MA line was back in September 2014. The MA was at 0.8134 at the time.  The MA is 700 pips lower now.  

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USDCAD Fri 21 Jul

USD/CAD falls to fresh 14-month low

USD/CAD down 60 pips Fixing demand for Canadian dollars sent USD/CAD through Thursday's low and to a fresh 14-month low of 1.2524 in a quick move. Mediocre data. No problem.

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GBPUSD Fri 21 Jul

Forex technical analysis: GBPUSD moves back toward the close after rally stalls

Closed at 1.29707 yesterday The GBPUSD rallied in the London morning session. The price moved toward the 100 hour MA in the process (currently at 1.30210). The high price stalled ahead of that MA (high reached 1.30187) and the price action has reversed back toward the close from yesterday at 1.29707.

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USDJPY Fri 21 Jul

USDJPY falls below lower trend line. New session lows.

The 110.96-111.00 eyed The USDJPY has moved to new session lows and in the process is breaking below a lower trend line on the hourly chart. The pair targets the 110.96-111.00 level (61.8% of the move up from the June 2017 low and natural support).    

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EURUSD Fri 21 Jul

Forex technical analysis: EURUSD stays above the May 2016 high

Up on the day, but ups and downs. Stays above May 2016 high The EURUSD moved above the May 2016 high at 1.16157 in trading yesterday and has stayed above that level since that break.   The low today is 1.1618. 

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USDJPY Fri 21 Jul

Forex technical analysis: is the 3rd time a charm for the USDJPY?

Last two days has seen breaks of key support fail. Is the 3rd time the chart today. The USDJPY has been frustrating (for me at least) over the last few days as a cluster of technical levels were broken, but then failed.  

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USDCAD Fri 21 Jul

Forex technical analysis: USDCAD stays below the 100 hour MA after data

Moves a bit lower (extends to downside) after CPI/retail sales The Canadian retail sales remained fairly elevate in May with a 0.6% gain (vs 0.3%) after a 0.7% rise in April (was 0.8%). The CPI headline was a lower at 1.0% vs 1.1% but the core numbers were a little higher than expectations.

EURGBP Thu 20 Jul

EUR technical analysis chart - support levels & target

EUR/GBP, that is! This via Société Générale technical analysis: EUR/GBP successfully bounced off graphical support at 0.8360/30. It has broken out above the rectangle within which it has evolved since last year. Near-term, it looks poised to head towards 0.9060, the 76.4% retracement of recent correction. 0.8550/35 should now provide important support (Note dated July 20)

USDJPY Thu 20 Jul

Forex technical analysis: USDJPY can't stay below the MAs

Nice try but the sellers failed again... For the 2nd day in a row, the USDJPY failed on it's break below the 200 day MA, the 100 day MA, the 50% retracement of the move up from June 14th. The 100 bar MA on the 4-hour chart.  That area comes in at 111.64-888. The price is back testing the 112.00 level now.  Call off the bears. The bulls are back.  

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EURCHF Thu 20 Jul

Forex technical analysis: EURCHF pushes the ceiling...

But more work to do... The EURCHF moved to the highest level June 6, 2016.  The high took out other highs from this month at 1.10727 and 1.10695. That is the good news. The not so good news is that the high could only get to 1.10755.  The ceiling has been pushed, and even breached by a few pips, but not running - at least not yet.   

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USDCAD Thu 20 Jul

Forex technical analysis: USDCAD stays under the ceiling

Ceiling defined by the 100 hour MA The USDCAD tried to move higher earlier in the day. The price moved above a baby trend line on the hourly  Yesterday (and on Tuesday afternoon), the line was approached but not really reached.  Today that line was broken, but the 100 hour MA got in the way (the ceiling), and the marker price rotated back to the downside.  

NZDUSD Thu 20 Jul

It's the New Zealand dollar's turn to beat up the dollar punching bag

NZD/USD hits a session high, edges above November 2016 The US dollar is really taking a beating today and the breakdowns just keep on coming. It's the New Zealand dollar's turn as it hits a 10-month high on a break of the November 2016 peak.

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EURGBP Thu 20 Jul

EURGBP trades at highest level since November 2016

Up nearly 1.5% on the day The EURGBP is the biggest mover of the day as the EUR is the strongest currency while the GBP is the weakest.   Overall, the pair is up about 1.5% from yesterday's close.

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