EURUSD rotates back between the 100 and 200 hour moving averages

Break to the upside fails The EURUSD and move lower after the retail sales report. The EURGBP is also pushing back to the downside after earlier gains.  Looking at the hourly chart, the price of the pair broke above a topside trendline in the 200 and 100 hour MAs after waffling up and down for most of Monday’s trade.  […]

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Major indices close higher but come off highs in the last hour or so of trading

S&P and NASDAQ index is still close at record highs The major indices close higher but come off the highs and last hour so trading. Nevertheless both the NASDAQ and S&P closed at record high levels. The NASDAQ closed at record highs for the 46th time this year. A snapshot of the close shows: S&P index up […]

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GBPUSD falls below its 200 hour moving average and swing level

Corrective run higher, runs out of steam and tumbles back down The GBPUSD has fallen back below it’s 200 hour MA at 1.3311. The pair also fell below a swing area between 1.3309 and 1.33116. The pair moved down to test Tuesday’s low at 1.32912.   The run back to the downside erased the early New York session gains which is […]

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USDJPY lower on the day. Below the 200 hour MA and trend line resistance.

200 hour MA at 104.11 The USDJPY is lower on the day and trades below the 200 hour MA at 104.114.  Admittedly, the price has traded above and below that MA level.  Early in the Asian session, the price fell below the moving average line and continue to the low for the day at 103.90. The subsequent rise […]

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AUD traders reminder – Q3 CPI data is due at the bottom of the hour (0030GMT)

I suspect little more than fleeting FX impact barring some massive surprise.  I posted a preview yesterday here: Headline For the y/y Core inflation: Trimmed mean expected 0.3% q/q, prior -0.1% expected 1.1% y/y, prior 1.1% Core inflation: Weighted median expected 0.3% q/q, prior 0.1% expected 1.3% y/y, prior was 1.3% For bank trade ideas, check out […]

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USDJPY traders set the 100 hour MA as barometer going forward

The MA line held support in trading today The price action is limited as the US and Canada are on holiday (and that tends to influence trading activity globally).  The USDJPY range today is only 25 pips. The average over the last 22 trading days (about a calendar month) is 67 pips.   So what can […]

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Australian consumer confidence data due at the bottom of the hour – preview

A little weakness for equities and the AUD (and NZD) as Aisan markets become more active for the session. Following on from equity mkt weakness during the US afternoon (and weaker AUD & NZD also). Coming up soon, WPAC consumer confidence data for May. WPAC outline the what’ll influence it: In the April update, sentiment […]

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