Category: Technical
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A technical look at each of the major currency pairs heading into the new trading week
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Gold Technical Analysis – The short-term bias turned bearish
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Basic Overview Gold has been on a steady decline since hitting an all-time high last Wednesday. We have seen a reversal in several other markets since last Wednesday, and it is not clear what was behind the move. Data continues to point to a resilient economy with inflation slowly falling…
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Kickstart the FX trading day for July 19 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In my opening video on July 19, I took a look at the three major currency pairs – EURUSD, USDJPY, and GBPUSD. The EUR/USD pair fell, continuing the decline it started yesterday, and in the process tested its rising 200-hour moving average at 1.08794. This moving average will serve as…
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AUDUSD Technical Analysis – The pair bounced from the key support
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Basic Overview The US dollar remains in a bearish mood as US data points to continued strong growth with low inflation. Yesterday, we got a good US retail sales report which suggests that stories of deteriorating consumer spending are overblown. Overall, this should support a soft bearish narrative and be…
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USDJPY Technical Analysis – The price is consolidating at a key trendline
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Basic Overview The US dollar fell last week after another weak US CPI report and positive jobless claims numbers. The market has not only fully priced in a September rate cut, but has also started to price in some chances of a back-to-back rate cut in November. Overall, we have…
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NZDUSD Technical Analysis – The RBNZ weighed on the Kiwi
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Basic Overview The US dollar fell broadly last week after another weak US CPI report and positive jobless claims numbers. The market has not only priced in a September rate cut, but has also started to price in some chances of a back-to-back rate cut in November. Overall, we had…
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Bitcoin Technical Analysis – The bias switched back to bullish
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Basic Overview Bitcoin surged in value over the weekend after a failed assassination attempt on former US President Trump. The market responded positively to the event because it was a supporter of the cryptocurrency industry and the odds of Trump winning the election increased. Furthermore, we received news that the…
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Bitcoin technical analysis: Where you can bet on making money (wait for these junctions!)
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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USDJPY Technical Analysis – The bullish bias remains intact
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Basic Overview The US dollar fell broadly last Friday after the release of the weak US non-farm payrolls report. The data showed further slowdown in the labor market with the unemployment rate rising and wage growth declining. Basically we have an economy that is slowing but still growing. The market…
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AUDUSD Technical Analysis – The price consolidates after the breakout
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Basic Overview The US dollar fell broadly last Friday after the release of the weak US non-farm payrolls report. The data showed further slowdown in the labor market with the unemployment rate rising and wage growth declining. Basically we have an economy that is slowing but still growing. We will…
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NZDUSD Technical Analysis – A look at the chart ahead of the RBNZ decision
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Basic Overview The US dollar has been broadly weaker since last Friday following the weak US non-farm payrolls report. The data showed further slowdown in the labor market with the unemployment rate rising and wage growth declining. Basically we have an economy that is slowing but still growing. We will…
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Gold Technical Analysis – The NFP report increased the bullish sentiment
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Basic Overview Last Friday, gold prices rose after the release of the US non-farm payrolls report. The data showed a further slowdown in the labor market with the unemployment rate rising and wage growth declining. This led to lower real yields and accelerated the rise in gold. This has been…
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Trade ideas thread – Monday, 8 July, insightful charts, technical analysis, ideas
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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USDCAD bounces higher after testing key technical support. Can the buyers keep pushing?
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The USD/CAD pair hit its lowest level since June 3 earlier today, testing the lower low at 1.35972. The 200-day moving average was just below that level at 1.35953. Today’s low was at 1.3601 as buyers/profit-takers took advantage of the swing area. The combination of US and Canadian jobs data…
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Kickstart the FX trading day for July 5 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In this July 5, 2024 Forex Market Opening Video, I take a technical look at the three major currency pairs – EURUSD, USDJPY, and GBPUSD. Today, the US jobs report was mixed, with nonfarm payrolls in June coming in above expectations, but revisions for the previous two months offsetting those…
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GBPUSD Technical Analysis – We are approaching a key resistance
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Basic Overview The US dollar fell broadly after weak US jobless claims and the Institute for Supply Management’s services PMI. Overall, the data did little to change interest rate expectations, but it reinforced the view that the Federal Reserve will cut rates at least twice by the end of the…
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Copper Technical Analysis – The bearish momentum has waned
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Basic Overview Copper has been rallying on key support recently and extended gains this week after China’s Caixin manufacturing PMI was released as the survey hit its highest level since May 2021. Over the past few weeks, the downward momentum has already appeared to be slowing as lower lows have…
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AUDUSD Technical Analysis – The price action remains rangebound
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Basic Overview The US dollar started the week on a weaker note as the new month began. Last week’s strength may have been driven more by end-of-quarter flows than anything fundamental as economic data did not change interest rate expectations. However, the data should continue to support risk appetite amid…