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March seasonals provided a good clue for what might happen in the month. For starters, March is the second-strongest month for USD/JPY and that was tailwind as the pair rose to the 152.00 level after an early-month dip on BOJ tightening reports.In March I wrote:The...
Most Read: SPY and QQQ Seem Overbought but RSP Looks AttractiveMarket psychology can be a powerful force, often leading the retail crowd to follow the herd. However, experienced traders recognize the potential for profitable opportunities by going against the grain:...
Israel bombed the Iranian consulate in Damascus, killing a general and five others. It's rare to see diplomatic buildings targeted in the long-running fight and that could signal escalation or retaliation. Oil was stronger on the day ahead of the news so it's...
The AUDUSD has moved to a new low going back to March 5, and in the process has broken below its 61.8% retracement of the move up from the October 2023 low. That level comes in at a natural target at 0.64995 (call it 0.6500). The level now represents a short-term...
The USDCHF is moving sharply to the upside as the market reacts to the better-than-expected ISM data. In the process, the price has moved back above its 38.2% retracement at 0.90252. Recall that late last week, the price moved back below that retracement level which...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US 10sUS 10-year yields are up a whopping 13.3 basis points today and approaching the key 4.35% level. The chart looks like a rough head-and-shoulders pattern and even if you don't see that a break of 4.35% would be material. The measured target from the H&S would...
The EURUSD is following the US dollar higher (with a move lower). THe pair is trading at its lowest level since February 16, and in the process broke below an upward sloping trendline and the broken 38.2% retracement of the move down from the 2023 high. That level...
The GBPUSD fell sharply after the ISM data, and in the process, extended outside of the "value area" that has confined the pair between 1.2594 and 1.2800. Yes, there were moves below and above that range in February/March, but those breaks were brief. Most of the...
The US dollar is strong to start the week and to understand why, I think we have to go back to Friday.1) ISM manufacturingToday's ISM manufacturing survey was on the hot side. The headline rose above expectations and the prices paid component climbed to 55.8 from...
The USDJPY is getting a shot higher after stronger-than-expected US PMI data. The price is running away from it converged 100 and 200 hour moving averages at 151.39. Staying above those moving averages keeps the buyers more in control. On the topside the price is...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
OPECProduction at 26.42 million barrels per dayThe largest cuts came from Iraq and Nigeria. Iraq had been producing above quota and agreed to cut by 130K in March. They fell short of that and will be under pressure to do more in April.Overall, productionw as about...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
For most people, April Fool's is a light-hearted and fun day but if you're a news trader, it's a minefield. In the AI era, it's going to be even worse as fake news can take on an indistinguishable air. There's also a big cohort of the internet that would love to fool...
The video above outlines the technical levels in play that will help drive your FX trading vs the USD in the new trading week. What are the key bias defining levels, the targets the risks for the EURUSD, USDJPY, GBPUSD, USDCHF, USDCAD, AUDUSD and the NZDUSD. Start the...