Technical Analysis

USD/JPY breaks above stubborn near-term resistance level

The pair finally finds a way to break above the 200-hour MA And that means near-term sentiment has turned bullish as long as the pair stays above it. The 200-hour MA (blue line) has proven to be a resistance level the pair cannot break above from last week until we had the breakthrough earlier.

More Technical Analysis

GBPUSD Mon 19 Mar

Brexit hopes send the GBPUSD higher, but what might limit the rise now?

The break felt good for the bulls but there is a concern for the bulls There was positive news out of the EU/UK Brexit transition talks. That news, coupled with a technical break of a trend line on the 4-hour chart below at 1.3976 (see blue numbered circles), and a move above  the 1.4000 area ceiling (see green circles), led to a good run higher. The bulls took control. 

USDJPY Mon 19 Mar

Forex technical analysis: USDJPY backs off from the 200 hour MA test

Can the broken trend line hold. The USDJPY has had a down and up session today. The run lower earlier in the session, stalled ahead of the low from Friday, moved back above a broken trend line (see green circles), a topside trend line at 106.05 currently (see red circles), and the 100 hour MA (blue line) at 106.19. All that is bullish. 

FOREX Mon 19 Mar

EURUSD technicals pivot back higher. What turned the tide? What will keep the tide bullish now?

Back in the middle of the range after swing area holds The EURUSD technicals have pivoted back to the upside today.  The sources report of an ECB pivot has helped the climb recently ().  Before that run up, there were some other signs.

FOREX Mon 19 Mar

The GBP is the strongest while the JPY is the weakest as NA traders start their week

USD is mostly higher vs the major currencies The GBP is the strongest currency of the day on increased  . The JPY is the weakest. The USD is mixed with a large decline vs the GBP (-0.86%).  It is lower vs the CAD and EUR as well.   The greenback is higher vs the JPY by +0.21%, and near unchanged levels vs the rest of the pairs.

EURGBP Mon 19 Mar

EUR/GBP extends decline, falls to 3-week low

The pair falls to lows not seen since 28 February If the pair closes the day lower, it would mean that it has fallen in eight out of the last nine trading days - since touching the highs of the year.

AUDJPY Mon 19 Mar

AUD/JPY flirts with danger at key support level

The pair is trading near 1-year lows, at levels last seen in April last year The yen continues to gain as the Nikkei slides on the back of more political tensions in Japan, with Japanese prime minister Abe having seen his approval ratings take a hit over the weekend.

AUDUSD Fri 16 Mar

AUD/USD touches to the lowest levels of the year

Brutal two days for the Australian dollar AUD/USD just matched the February low of 0.7711. Watch for some late stops on a break but the real story will be what happens next week.

GBPUSD Fri 16 Mar

GBPUSD back in the black for the day after holding 50% midpoint

Up and down and up day The GBPUSD is back in the black for the day in what has been an up, and down, and back up trading day. The close was at 1.3933. The price is at 1.3937 currently. 

CRUDE-OIL Fri 16 Mar

I blame the technicals for the run higher in the crude oil contract

Breaks above 200 hour MA and shorts gave up   The price shot up from about $61.10 to a high or $62.43. The move seemed to come out of nowhere. Adam posted on the quick run up in the price of crude oil

OIL Fri 16 Mar

Oil jumps nearly $1 for no particular fundamental reason

This one looks to be all about technicals I've scoured the world for any kind of fundamental reason for the quick $1 move in crude oil in the last 30 minutes but if there's something out there, I can't find it. It's up to $62.33 from $61.34 a short time ago.

AUDUSD Fri 16 Mar

AUDUSD swings below a key dividing area (more bearish). What defines that area?

Falls back below the 100 day MA too today The AUDUSD has trended lower today and in the process is cracking a key dividing area that has split the bulls from the bears.

GBPUSD Fri 16 Mar

GBPUSD moving into the next cluster of downside targets

The fall continues as the London/European trading day progressed toward the last few hours of trading The GBPUSD continues it's fall and tests the  cluster of support defined by 200 hour MA, 100 bar MA on 4 hour, trend line and 50% retracement. They all come in between 1.38868 and 1.3902.

USDCAD Fri 16 Mar

USDCAD moves up toward 1.3100

Yesterday's breaking of 100 week MA and 1.3000 was a key break The USDCAD has continued what was the start of another leg higher yesterday.  If you recall (), the USDCAD moved first above the 100 week MA at 1.2976 area and then cracked the 1.3000 level. That was a double top from earlier in March.  The price pushed higher on the breaks, and that momentum has continued today. 

DOLLAR Fri 16 Mar

Dollar extends gains. Data continue to boost the greenback.

String of good data pushes the dollar higher The University of Michigan consumer sentiment joined the JOLTS,Industrial production and capacity utilization on the "better than expected" side of the equation today.  Yields are higher with the 10 and 30 year yield up about 2.0 basis points.  

EURUSD Fri 16 Mar

EURUSD test 50% retracement and option level at 1.2300.

$2.8B at 1.2300 level The EURUSD has moved lower and is down testing the 50% retracement at 1.2300 level. That is also the home of $2.8B of option expires (as per Mike's earller report).

USDJPY Fri 16 Mar

USDJPY down but retracing a little. What levels should traders eye for sellers?

Price trending lower. The USDJPY has been trending lower for the day. Looking at the 5 minute chart above, the price had a momentum move lower in the Asian Pacific session.  The price fell below the 100 bar MA and has stayed below.  

FOREX Fri 16 Mar

The JPY is the strongest and the NZD is the weakest as NA trader enter for Friday

The USD is mixed today The JPY is the strongest currency of the day, while the NZD is the weakest.  The USD is mixed at the start of the North American sessions with gains vs. the commodity currencies, and declines vs the rest.   

NZDUSD Fri 16 Mar

The kiwi's struggle today is just the beginning

The NZD is the weakest performing major currency on the day There isn't much news on the day but commodity currencies in general are under a bit of pressure - the kiwi in particular. There was the manufacturing PMI earlier in the day, but it's not exactly something that causes a major selloff in the currency despite the dip in the data.

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