The AUDUSD has been in an up-and-down trading range over the last 6 or so trading weeks. The low of the extreme comes in near 0.6356. The high of the extreme comes in at 0.6521. In between sets the 100 and 200 bar moving averages on the 4-hour chart at 0.6431 and...
GBPUSD moves higher and back toward key resistance
GBPUSD looks to test the broken 61.8% retracementThe GBPUSD has continued its corrective move higher and currently trades at 1.2300. That takes price closer to the swing low from the end of May near 1.2308, and also the broken 61.8% retracement of the 2023 trading...
House Republicans lose rule vote on defense appropriations bill
The US House representatives lost the most recent rules vote on defense appropriations bill.House Speaker Kevin McCarthy is struggling to unite his Republican colleagues around a temporary funding bill to prevent a federal government shutdown at the end of the month....
Major European indices close lower despite the steady central bank policy decisions
The major European indices are closing the day lower with all but the UK FTSE 100 down over 1%. The final numbers are showingGerman DAX -1.33%Frances CAC -1.59%UK's FTSE 100 -0.69%Spain's Ibex -1.0%Italy's FTSE MIB -1.74%The Bank of England and Swiss National Bank...
USDCAD runs higher breaking above its 200 day moving average in the process. What next?
The USDCAD fell yesterday and in the process tested its 100-day moving average at 1.33975. On Tuesday the price fell below that moving average only to bounce back higher. The break below the 100 day moving average failed. Buyers leaned and pushed the price higher...
EURUSD moves to the 100 hour MA and finds sellers
In the morning kickstart video, I spoke of the upside potential from a technical perspective for the EURUSD. The move was based off the rebound, and move back above the swing area between 1.0631 and 1.0635. Here is what I said on the trade idea:What happened?The price...
USDJPY falls below the 100 hour moving average and 200 hour moving average
USDJPY breaks lower. Sellers more controlUSDJPY The USDJPY tried to move below its 100-hour moving average yesterday, and again today, and each time the price bounced higher. In the morning kickstart video, I talked about the 3rd break being the charm, and indeed it...
USDCHF trades above its 200 day MA for the 1st time since November 2022
The Swiss National Bank Rates unchanged which was unexpected. The market had expected a 25 basis point hike. The move snapped a 5-meeting string of rate hikes from the central bank. The USDCHF moved higher and in doing so extended above its 200-day moving average for...
EU consumer confidence flash for September -17.8 versus -16.5 estimate
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 leading indicators for August -0.4% versus -0.5% expected
> US leading indicators for August -0.4% versus -0.5% expected US leading indicators <!--> --> <!--> Prior month -0.4% revised to -0.3%The month-to-month index has been negative since January 2022 (17 consecutive months)Leading indicators for August...
US existing home sales for August 4.04M vs 4.10M estimate
Existing home sales fall to 4.04MPrior month 4.07Mexisting home sales 4.04M versus 4.10M estimateMoM -0.7%Sales are down -15.3% year on year1.1 million units of inventory which is -0.9% monthly and -14.1% year on year3.3 month supplyMedian price up 3.9% to $407,100....
ECBs Knot: Does not expect a rate hike at next policy meeting
ECB's KnotECBs Knot is now weighing in. He says:Does not expect a rate hike at next policy meetingcomfortable with current interest ratesECB will stay alert to signals indicating inflation remains too highThe ECB chose to raise rates by 25 basis points last week....
BOE Bailey: The jobs not done yet
BOE's Bailey is chirping after the central bank kept rates unchanged:The jobs not done yetNot predicting what next bank rate move will beWe have got a big job to do yet.There is no premature celebration here on inflation fallingMPC has not had any discussion about...
ECBs Wunsch: Whether we need to do more or not is a very difficult question
ECBs Wunsch speaking at a Reuters global markets forum says:Whether we need to do more or not is a very difficult question.Have greater confidence that projections can be used as an anchorMay have reached a peak in wages, but that's still uncertain.Can't conclude yet...
US major indices open lower. NASDAQ is the biggest laggard again.
The US major indices are opening lower with the NASDAQ index as the biggest laggard. The NASDAQ index fell -209 points yesterday and is adding on another -120 point decline in early trading today. The Federal Reserve Rates Rates unchanged yesterday but expects another...
US futures are implying a lower opening for the major equity indices
The equity futures contracts are applying a sharply lower opening for the major indices:Dow industrial average is expected to open up down -171 pointsS&P index is affected open down -35 pointsNASDAQ index is expected to tumble by -173 pointsYesterday the major...
TON Foundation Engages Chainbase and Tencent Cloud for Web3 Development and Adoption
The Open Network (TON) Foundation has partnered with Chainbase and Tencent Cloud to simplify blockchain development as the Foundation ushers in the next era of Web3 mass adoption across the Asia-Pacific region. As one of the world's leading cloud providers, Tencent...
⏰️선착순! ‘추석 특별 지원금’ 전국, 전국민!! 오늘부터 딱 1주일만 드려요~ 상품권 받아가세요!
https://www.youtube.com/watch?v=kc4L0sGlT8A 추석을 맞아 정부에서 오늘 21일 목요일부터 추석 연휴 하루 전날인 27일까지 딱 1주일 동안 국민들에게 상품권을 드리는 행사를 진행합니다. #추석특별지원금 #정부지원 #선착순 MoneyMaker FX EA Trading...
ECB’s Vujcic: As prices ease, 4% rates will be more restrictive
ECBs Vujcic is on the wires saying:As prices ease, the 4% rate will be more restrictiveIf outlook holds won't need any more rate hike'sLatest hike puts us in a better positionThe EURUSD is trading at 1.0634. The low price today reached 1.0616 which was 6 pips short of...
Philadelphia Fed September manufacturing index -13.5 vs -0.7 estimate
Philadelphia Fed business activity index falls to -12.0For the full report CLICK HEREPrior month 12.0Philly Fed business index -13.5 vs -0.7 estimate. This is the 14th negative reading in the past 16 monthsCapital expenditures six-month forward 7.5 versus -4.5 last...