Technical Analysis

Pound makes fresh highs for the day as Ramsden brushes aside negative rates talk

Cable buyers look to try and seize near-term control The pound is posting fresh highs for the day now as BOE policymaker, Dave Ramsden,  - for now at least - and affirmed that he still views the effective lower bound in the bank rate at 0.10%.

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DOW Fri 25 Sep

US stocks close near high. Nasdaq has first up week in 4 weeks

Dow, S&P and Nasdaq close higher for the 2nd consecutive week The US stock indices are ending the session with gains across the board and near session highs:

AUDUSD Fri 25 Sep

AUDUSD tests 100 day MA. New lows for the week.

100 day moving average for the AUDUSD is at 0.7005 The AUDUSD is trading to new session lows, new week lows and is testing its key 100 day moving average at 0.70053 level. The low for the day just reached 0.70052.  


European shares close a ugly week week on a down note

Large declines in the major indices this week European shares are closing lower and capping off what has been a ugly week for the equity markets.  The provisional closes are showing:

USDCAD Fri 25 Sep

USDCAD looks toward the week's high

Correction in the USDCAD lower stalled ahead of the rising 100 hour MA The USDCAD pushed to the week's high at 1.34174 yesterday. The low for the week was on Monday at 1.3136.  Yesterday, after pushing to the high, the price did correct lower. The breaking of the upward sloping trend line got the ball rolling. 

GBPUSD Fri 25 Sep

GBPUSD trades to new session lows

GBPUSD back below the 100/200 day MA The GBPUSD is trading to new session lows. The price just reached 1.2688. That took out the earlier session low at 1.26935. It also dipped below the low from yesterday at 1.26892. The low for the week currently comes in at 1.26737 and that would be the next downside target for the pair.

AUDUSD Fri 25 Sep

Australian dollar tags a new low but support is near

Six straight days of AUD/USD selling AUD/USD has fallen in six straight days and just touched a fresh session low at 0.7006 before a bounce to 0.7020. Clearly the bulls are trying to mount a stand at 0.7000, which has been a pivotal number in the pair all year long.

USDCHF Fri 25 Sep

USDCHF trades to a new day/week high

USDCHF trade to highest level since July 23rd Each day this week has seen higher highs for the USDCHF. The pair is also working on its 6 consecutive day higher.  The close yesterday was at 0.9266. That is a close risk level for traders today. Stay positive is positive for buyers (and worries the sellers). 

SP Fri 25 Sep

US stocks are off and running and the indices are mixed

Nasdaq up marginally The US stocks are off and running and the indices are mixed with marginal gains/losses.  A snapshot of the major indices currently shows:

USDJPY Fri 25 Sep

USDJPY swings down and up between ....well swing areas

Support at 105.239 -105.289. Resistance at 105.537-105.60 The USDJPY has swung down and up today.   The first move in the Asian session was initially higher with the 105.537 level  (low of 105.537 to 105.60 - see red numbered area) stalling that swing run higher.  

EURUSD Fri 25 Sep

EURUSD testing the low yesterday/for the week

The low for the week comes in at 1.16258 The EURUSD is down testing the lows for the day/the low from yesterday/the low for the week.  The low for the week (and yesterday) reached 1.16258. The low today just reached to 1.16268.  A move below should open the downside for more probing.  

FOREX Fri 25 Sep

The NZD is the strongest while the EUR is the weakest as NA traders enter for the day

The USD is marginally higher.  It's Friday. It's Friday!  That can mean a lot of things but with all the uncertainty from Covid, to elections, to will there be a transition from elections, to new stimulus or no new stimulus, to Brexit, etc. the volatility meter could be all over the place.  The morning snapshot shows NZD is the strongest and the EUR is the weakest. The changes are relatively modest across the major currency spectrum. The USD is marginally higher vs all majors with the exception of the NZD. US durable goods orders will be released at the bottom of the hour. 

NZDUSD Fri 25 Sep

NZD/USD extends modest rebound from overnight trading, what's next?

The kiwi advances further in European morning trade today NZD/USD is pushing higher on the day towards 0.6600 currently, following a modest rebound in North American trading from a low of 0.6512 to close at 0.6546.

GBPUSD Fri 25 Sep

Cable pushes to 1.2800 as buyers wrestle back some near-term control

GBP/USD climbs to a session high of 1.2800 The inability for sellers to firmly break below 1.2700 is also seeing some exhaustion as we see buyers now wrestle back some near-term control today:

AUDUSD Fri 25 Sep

AUD/USD could correct further towards 0.6850 on RBA policy, US election - CBA

The aussie has some headwinds to navigate through, says CBA The firm's head of international economics, Joseph Capurso, says that the aussie could fall to 0.6850 against the dollar - weighed down by RBA policy, the US election and a stalling global economy in the near-term.

FOREX Thu 24 Sep

Some technical levels to eye in the new trading day

A up and down day in most major pairs today The forex market had some ups and downs in the USD today.  The day started with the greenback higher. It remained near high levels as London traders headed to the exit. However, some selling in the NY afternoon session has erased a lot of the earlier gains. The dollar is now lower vs the EUR, GBP, CAD. Higher vs the CHF, AUD and NZD and unchanged vs the JPY.

EURUSD Thu 24 Sep

EURUSD looks to break 4 day losing streak today

Above the close from yesterday at 1.1658 The EURUSD opened the US session lower and extended to a intraday low of 1.16258. That low fell short of a lower trendline that cuts across at 1.1618.


Crude oil futures settle at $40.31

Up $0.38 or 0.95% The price of November crude oil futures are settling at $40.31. That is up $0.38 or 0.95% on the day.  The high price extended to $40.37. The low price fell to $39.12

USDCAD Thu 24 Sep

The USDCAD moves to new session lows

Price falls below trend line support The USDCAD has moved to new session lows and is running further away from a broken trend line on the hourly chart at 1.3390 currently. The low price just reached 1.33554.  The next close target on the downside that traders will be watching is at 1.3345. That level was a swing high from Tuesday and also a swing high on Wednesday before breaking on higher. The price did dipped below the level in early afternoon trading yesterday only to quickly rebound. Get below today and stay below and we should see further corrective moves to the downside. The rising 100 hour moving average and 38.2% retracement are converged at 1.3306. Those technical levels would be downside targets

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