Technical Analysis

AUDUSD follows the USD lower. New day highs.

USD falls continues The USD has continued to fall, and the AUSUSD is not immune. It is trading at the highs for the day and away from its 200 hour MA (green line) at 0.6900 level. The next target is up a the 0.6932-36 which is home to a number of swing levels going back to May 14th. 

More Technical Analysis

EURUSD Fri 24 May

EURUSD doing the Friday chop (with a little bullish bias)

Held the 100 hour MA in the London session. The EURUSD moved sharply higher yesterday after making a new year to date low at 1.11064 (vs 1.1109 previous low).  The 3 pip break, was not what sellers were really looking for, Markit PMI was much weaker, and the squeeze higher was on  (lower dollar).  

SP Fri 24 May

US stocks open with solid gains.

Nasdaq up 0.7% The US stocks are open and the Nasdaq leads the way again (it tends to lead higher or lower).    The snapshot a few minutes into the opening is showing:

EURGBP Fri 24 May

EURGBP not swayed by PM May's resignation. Pair working on 15th straight higher close.

Moves to highest level since January 21, 2019 The official resignation of PM May has not swayed the EURGBP too much. The pairs is up on the day. If the pair closes higher (closes at 0.8830) it would be the 15 straight day higher.  On Wednesday the pair moved above the 200 day MA (currently at 0.87853). On May 15, the pair moved above its 100 day MA (blue line) at 0.86751. 

GBP Fri 24 May

Cable touches an EU session low as Boris Johnson talks hard Brexit

GBP doesn't like what Boris Johnson is saying Cable staged a rally on May's resignation announcement but the 50-pip pop has now completely faded and cable is now lower since London arrived.

USDJPY Fri 24 May

USDJPY up and down in range. Will it break?

A little weaker data tilts the pair lower.  The USDJPY is trading in an up and down trading range today in a narrow 29 pips.  At the highs, the pair has been able t stay below the 38.2% and other swing levels (and a broken trend line) all in the 109.769 to 109.798 area.  

FOREX Fri 24 May

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

Stocks higher on the day As North American traders enter on Friday, the JPY is the strongest of the major currencies, and the JPY is the weakest.   Stocks are rebounding today which has some of the risk off flows being reversed today. The GBP is mixed after PM finally announced the concrete plans for her resignation.  The USD is lower but with modest changes vs many of the pairs (the USDs change is less than 0.1% vs EUR, GBP, JPY, CHF and AUD)

GBPUSD Fri 24 May

Sterling goes up, down, then up again as traders digest Theresa May's resignation

Cable now trades near session highs around 1.2715 ForexLive Expect plenty of this volatility to come about for the pound over the next month of trading as the focus now turns towards the Tory leadership contest and who will succeed May as prime minister. May's announcement earlier confirms that she will resign as Tory leader on 7 June but will stay on as caretaker prime minister until a new leader is elected.

GBPUSD Fri 24 May

Cable buyers look to retest key near-term level amid weaker dollar

GBP/USD moves towards a test of the 100-hour moving average again ForexLive The pair touches a high of 1.2688 on the session and is closing in on a test of the 100-hour MA (red line) @ 1.2691. Buyers managed to crack that level earlier this week after May delivered her WAB but failed to hold on to any momentum and fell to fresh four-month lows after.

EURUSD Fri 24 May

EUR/USD touches 1.12 as dollar weakness extends into the new day

The dollar is losing some ground in early trades in Europe ForexLive EUR/USD is now knocking on the door of breaking above the 1.1200 handle as buyers exert further near-term control after a resurgence in overnight trading. Price is now contending with  offers around 1.1200 as well as resistance at the 61.8 retracement level @ 1.1204.

SP Thu 23 May

US stocks moves off lows at the close but still sharply lower on the day

Major indices end the session in the middle of the day's low/high range The US stocks are ending the session sharply lower, but near the middle of the low to high trading range for the day. 


US crude oil futures settle at $57.91

Down $3.51 or 5.71% Technically, the price fell below its 200 day MA at $60.44 today. Today was the 1st close below that moving average since April 1. In May there has been a number of tests of that moving average, but no closes below.

10-YEAR-YIELD Thu 23 May

10 year yield trades at lowest level since October 2017

The low reached 2.2922% today The fall in stocks and concerns about global growth has helped to push the yield on the 10 year note to a low of 2.2922% today. That is the lowest rate since October 2017.  

NASDAQ Thu 23 May

Nasdaq index down -2% on the day now

Still above the 100 day MA at 7563.48 (low reached 7588.43 so far) The Nasdaq index (and other indices) have moved to new session lows. The index is down -2% now. The low reached 7588.43.

EURUSD Thu 23 May

EURUSD moves toward the 200 hour MA and other resistance targets

The squeeze continues in the EURUSD. Tests high from yesterday The EURUSD has moved toward the high from yestreday at 1.11797, AND the falling 200 hour MA not far from that level at 1.11816. The 50% of the move down from the May 13 high comes in at 1.11847.  Safe to say, the pair is running into a cluster of resistance that extends from 1.11797 to 1.1187 (high from Tuesday's trading). 

CRUDE-OIL Thu 23 May

Be aware. Crude oil is testing its 100 day MA

Last close below was on March 1 The price of crude oil has tumbled lower. The current prices is at $58.14. That is down $3.29. The low price extended to $57.92.  


European shares end with sharp losses on global growth concerns

PMI data in Japan, Europe and US not that great The PMI data out of Japan, Europe and the US was admittedly not that great today.  There was hope that the global headwinds were abating.  The data today weakens that view.  

AUDUSD Thu 23 May

AUDUSD and NZDUSD squeeze up to 100 hour MA

Key test for the pairs as they squeeze off lows AUDUSD is up testing the 100 hour MA and trend line after the floor held support at the lows. For the NZUSDU it is testing its 100 hour MA at 0.6512 as well.

EURUSD Thu 23 May

EURUSD claws back to unchanged (now up) on the day

New YTD lows failed. PMI data, pressured the USD. Shorts covered The EURUSD has clawed its way back to unchanged (now higher) on the day after being down up to 43 pips on the day just a hour or so ago. 


More Headlines

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose