July 11, 2024 at 02:22PM The US CPI data came in lower than expected, and that has led to a fall in the US dollar, and a fall in US yields. The EURUSD has broken higher and moved above a swing area between 1.0875 and 1.0887. Also at 1.0887 is…
July 10, 2024 at 04:29PM The GBPUSD has extended higher and in the process has moved above a swing area between 1.28168 and 1.28272 and extended to the high price from Monday at 1.28449. The price is also near a downward-sloping trendline connecting recent highs at 1.2849. So far traders…
July 10, 2024 at 02:10PM In the kickstart video for July 10, 2024, I break down the technicals that are driving the three major currency pairs: EURUSD USDJPY GBPUSD Today I give a bonus look at the NZDUSD as it is the biggest mover after the RBNZ rates unchanged but…
July 10, 2024 at 11:53AM Fundamental Overview The USD weakened across the board last Friday following the soft US NFP report. The data showed some more labour market cooling with an increase in the unemployment rate and a decrease in wage growth. We basically have an economy that is slowing…
July 09, 2024 at 10:23PM A note from RBC on the Bank of England and sterling, says that apart from the BoE outlook the currency could drop on fiscal risks regardless. In summary: BOE could cut by 50 basis points in both 2024 and 2025, leaving GBP with still one…
July 09, 2024 at 08:21PM The GBPJPY has been trending higer since mid-June. That move to the topside has been using the 100 and 200 hour MAs since mid-June as the roadmap or guiding light. When there were some dips below the 100 hour MA, either the 200 hour MA…
July 09, 2024 at 02:03PM Fed Chair Powell will be testifying on Capitol Hill today (and tomorrow). The pre-release text of his comments were not released. HMMMM. Markets will be focused on his comments on inflation and the trend in inflation and for any clues on the potential for a…
July 08, 2024 at 05:20PM On Friday, I did a video on the GBPJPY outlining the trend move and what needed to happen to break the buyers’ control – even by the a little. Trends are fast, directional, and tend to go further than what traders expect. As a result,…
July 08, 2024 at 02:11PM In the kickstart video, I take a look at the 3-major currency pairs – the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD is trading near session highs as the North American session begins, and looks toward eight swing area between 1.08538 and 1.08617. The 1.08618…
July 05, 2024 at 03:23PM When the market trends, traders are better served to understand when the market shifts the trend, versus trying to pick a top or bottom depending on which way the market is trending. For the GBPJPY, it has been trending over the last seven or so…
