Technical Analysis

Forex technical analysis: EURJPY fell below MAs and trend line. Momentum increased.

Pair has been consolidating at 2017 highs over the last few months The EURJPY has moved below the 100 bar MA and 200 bar MA on the 4-hour chart at the 132.908 and the 132.66 levels respectively. It also cracked below an upward sloping trend line at the 132.91 area. The combination has sent the pair lower.  Risk is now at those level with the 132.66 the best case for the sellers/bears. 

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FOREX Thu 14 Dec

Forex technical analysis: Little reaction to the ECB statement

ECBs Draghi will start press conference at 8:30 AM ET/ 1330 GMT The ECB decision has led to a fairly limited response so far saying they expect to keep rates unchanged for an extended period of time.    The EURUSD has had a high of 1.1830 and a low of 1.18247.  That is not a heck of a lot of movement.

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AUDUSD Wed 13 Dec

It's about the FOMC today, but will be about the Australian employment in the new day for the AUDUSD

AUDUSD moves back to the 50% midpoint of the move up from Dec 2016 low The dollar is getting hurt on the back of the Fed's inflation concerns and in the process the AUDUSD - which was already rising today - has moved even higher. 

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USDJPY Wed 13 Dec

USDJPY moves to and below the lower trend line as the dollar gets beat up

Falls below 38.2 and trend line. The USDJPY has also been hit over the last few minutes. The price moved below the 38.2% at 112.634 (close risk now) and also peaked below a lower trend line at 112.50.  Stay below the 112.634 on the rebound will make holding the trend line more difficult now. Sellers are trying to make the next push with the 112.29 the 50% of the move up, as the next downside target on continued weakness.  

EURUSD Wed 13 Dec

EURUSD test 1.18000 resistance area

100 day MA, 200 hour MA and 38.2% retracement at 1.1800 area The price is moving above the level as I type and trades at 1.1810. The 1.18287 is the next target. That equals the 50% of the move down (see chart above). 

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GBPUSD Wed 13 Dec

Forex technical analysis: GBPUSD rallies to overhead resistance and backs off

Key area tested The dollar sell off after the FOMC statement, took the price up to and briefly above, the underside of the broken trend line at 1.33816 and the 100 bar MA on the 4-hour chart at 1.33764. The high price reached 1.3385. The price is currently trading at 1.3368 area. 

DOLLAR Wed 13 Dec

The dollar falls but rebounds after the FOMC decision. Yellen awaited.

USDJPY falls to 38.2% target. EURUSD rises toward cluster of resistance....stalls The EURUSD is rallying toward the key cluster of resistance defined by the 100 day MA, 38.2% and 200 hour MA at the 1.1800-02 area. The high has reached 1.1795 so far. Key resistance.

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USDJPY Wed 13 Dec

The levels to eye in the USDJPY through the FOMC and why

Trades between the 100 and 200 hour MA Yesterday the USDJPY traded to the highest level since November 15th at 113.74 (see hourly chart below).  The fall from the high

EURUSD Wed 13 Dec

EURUSD rotates back toward resistance targets. What are the levels through the FOMC.

100 hour and trend line tested As London/European traders head for the exits, there is a lowering of the dollar a bit. The EURUSD has wandered back toward the highs for the day and in the process is testing the 100 hour MA at 1.17646 and topside trend line. The combination stalled the rally early in the session and the price fell from 1.1770 to 1.1746. Now both are a little lower at the 1.1768 level.   We currently trade at 1.1766.

BITCOIN Wed 13 Dec

Bitcoin buyers stall the wander lower at the intraday MA levels

Buyers are holding the bias in the their control. , the digital currency has the 100 and 200 bar MAs as a bullish/bearish barometer. Stay above is more bullish. Move below is more bearish.

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NZDUSD Wed 13 Dec

Forex technical analysis: NZDUSD trades to highest level since end of October

Cracks the November high at 0.6979 The NZDUSD has cracked the November high at 0.6979 and now trades at the highest level since October 24th. Looking at the 4-hour chart below, (see blue and green lines in the chart above). The market cheered the announcement of Adrian Orr being named the new governor of the RBNZ.

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GBPUSD Wed 13 Dec

Cable tests its topside trend line and 100 bar MA. Key resistance area.

Trend line at 1.33807. The 100 bar MA on 4-hour chart at 1.33752 See prior post on the GBPUSD pair here....

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BITCOIN Wed 13 Dec

Bitcoin technical analysis: What does the consolidation tell traders in Bitcoin?

Floor at $16,298. Ceiling at $17,578.   The price of bitcoin is waffling back and forth as the consolidation at record high levels continues.  Looking at the 5 minute chart above, there is a high ceiling at $17,578 (see red numbered circles), and a lower floor at the $16.296 level (see green numbered circles). 

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GBPUSD Wed 13 Dec

Forex technical analysis: Key level to eye in the GBPUSD for the FOMC day

Bullish/Bearish barometer for the GBPUSD The CPI has come and gone. It was a bit weaker than expectations and the dollar has fallen but is respecting technical levels in both the EURUSD and the USDJPY ().  

DOLLAR Wed 13 Dec

The dollar falls after the US CPI data

USDJPY falls to 200 hour MA and finds buyers.  Can the level be broken? EURUSD tests 100 hour MA USDJPY The USDJPY moved lower on the CPI data but stalled ahead of the 200 hour MA on the first look (green line). The fall took the price below the low floor at the 113.08-11. Stay below that is more bearish now.  A break of the 200 hour MA will target 112.864. That was also the high from December 5th. A move below that opens the downside for further declines. 

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FOREX Wed 13 Dec

The GBP is the strongest. The CHF is the weakest as NA trader enter for the day

December 13, 2017 As North American traders enter for the day, the GBP is the strongest, while the CHF is the weakest. However, the major pairs are clustered close together on a relative basis.  So the "league table" can be shuffled around in the NY session.   The USD is more lower (modestly) with declines vs the GBP, JPY, NZD, AUD, and CAD. The greenback is a little higher vs the EUR and CHF.

EURUSD Tue 12 Dec

EURUSD slowed the fall in support area and is rebounding toward MA

1.1712--24 area attracts buyers   The low today reached 1.1717 - between the two levels - and the price started to rebuild back to the upside. In an earlier post, I spoke of the support from a number of swing lows centered in the 1.1712-24 area.

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USDCAD Tue 12 Dec

Forex technical analysis: USDCAD moves up toward Oct/Nov/Dec highs

50% and 200 day MA lie ahead On the daily chart, the USDCAD has closed above the 100 day MA since October 24th. That is 36 straight trading days.  Today we traded up to 1.28916 (so far) - short of all those levels (1.2901-16).  That area could slow a rally just because they did it before.

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USDJPY Tue 12 Dec

Forex technical analysis: GBPUSD dips toward 50% retracement level

Below low from last week The GBPUSD has had an up and down day. The up came after inflation data showed that CPI rose by 3.1% - above the upper limit of 3.0%.  The move higher took the price above the 100 bar MA on the 4-hour chart and back above a broken trend line. Those breaks failed, however, and the price rotated back to the downside. 

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