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EUR/USD has traded in 1.215 - 1.255 range this year, though most of the price action has been contained between 1.225 and 1.245. The pair is currently trading right at the 2017 - 2018 channel support, an important decision area. A break below would target 1.20 and 200 DMA. On the flipside, a break above 1.26 would be big and would target 1.30 initially.
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GBP/USD breaks 1.40, appears not done yet
GBP/USD broke above 1.40 yesterday. The big figure level coincides with the topside of the 2017 - 2018 trading channel. That probably means some selling, but a (sharp) spike above the channel top is not off the table. U.S. jobs & wages report later or tomorrow's ECB decision could be a catalyst.
USD/CAD headed to the channel trendline
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
A sharp rally at the start of 2016 and an even more impressive reversal has been followed by an upward sloping channel. 1.28 - 1.30 area is central …
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
A sharp rally at the start of 2016 and an even more impressive reversal has been followed by an upward sloping channel. 1.28 - 1.30 area is central …
USD/JPY rally falters ahead of 114.50
Yen has been the weakest performer so far this month but it's still up 3.25% on the year. USD/JPY continues to be driven by U.S./Japan bond yield spreads and risk sentiment, both of which have been supportive in recent weeks.
The pair broke out of a declining channel formation last week but the rally faltered ahead of 114.5. It looks headed for a retest of the channel trendline and perhaps 112 pivot. On the upside, multiple resistance levels are stacked from 114.5 to 116.
The pair broke out of a declining channel formation last week but the rally faltered ahead of 114.5. It looks headed for a retest of the channel trendline and perhaps 112 pivot. On the upside, multiple resistance levels are stacked from 114.5 to 116.
USD/CAD to pull back in May
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
A sharp rally at the start of 2016 and an even more impressive reversal has been followed by an channel-like upward sloping consolidation formation.…
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
A sharp rally at the start of 2016 and an even more impressive reversal has been followed by an channel-like upward sloping consolidation formation.…
EURo undecided
Euro staged an impressive rally yesterday but then reversed at the end of the European session. Hawkish remarks from Fed Chair Yellen right after the US market close led to another 60 pip decline and the pair is now trading near yesterday's opening levels.
The pair is sandwitched between three important moving averages: 200 DMA above (~1.1190) and 50 and 100 DMA below (~1.1145). Judging by yesterday's strong rejection near 1.13, perhaps the most likely scenario is a retest of the seven-month cha…
The pair is sandwitched between three important moving averages: 200 DMA above (~1.1190) and 50 and 100 DMA below (~1.1145). Judging by yesterday's strong rejection near 1.13, perhaps the most likely scenario is a retest of the seven-month cha…
EURo turns down
Euro followed through on Friday's reversal of post-FOMC gains. After weak pullback, the pair fell 150 pips before bids at 1.1180 stalled it. Given momentum we've witnessed, it's quite possible that the pair will retest seven-month channel bottom (currently near 1.10).
Some resistance may be found at 1.1210 - 1.1220 (200 DMA, Wednesday's low, Yesterday afternoon high) and then in 1.1235 - 1.1265 band (Daily Pivot Point, 50's, Monthly Pivot Point, Friday's low). Support is seen at 1.1180 - 1.1190 …
Some resistance may be found at 1.1210 - 1.1220 (200 DMA, Wednesday's low, Yesterday afternoon high) and then in 1.1235 - 1.1265 band (Daily Pivot Point, 50's, Monthly Pivot Point, Friday's low). Support is seen at 1.1180 - 1.1190 …
EURo gets some relief
Euro bounced off 1.05 big figure level, which is also bottom of a long term channel with the channel-line drawn off 2008 and 2010 lows. If that gives way, there might be some support around 2003 low (1.0335) before 76.4% retracement of the 2000 - 2008 uptrend (1.0070) and parity level (1.00).