ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: The USDJPY has bounced back to the 38% retracement of the Nov 14th high to Dec 3rd low. The 152.00 level has been a massive pivot since Oct 2022, so the 151.80 level (38%) may offer strong resistance (or just above) today.

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Intraday Update: AUDUSD has had a MASSIVE response from the 2022 trend line (thanks to overnight China comments) which suggests that the sub .6400 level is critical into year end.

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Intraday Update: Following the NFP and Canadian jobs report, the USDCAD is at the 78% retracement. The unemployment rate in Canada has sent the CAD reeling lower and could test the 141.80/1.4200 level if the US Dollar continues to recover today.

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Intraday Update: The DXY is flirting with the rising trend line once again. Today we have weekly unemployment claims, and tomorrow is NFP. Likely we are waiting for NFP, however, EUR shorts (being short of EUR's the list is too long to put here as you know) may be getting a little twitchy as we hold above 1.0500. A move lower could start early in the USD index if...

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Intraday Update: Crude oil slides to triangle support on output headlines. The risk is a break of the 68.00 level will target the key 66.50 level.

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Intraday Update: The USDJPY has broken higher out of the descending wedge pointed out yesterday, and the bounce could continue to the 38% retracement at 151.80.

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Intraday Update: The US Dollar index has a rising trend line at 105.90's, and the 50% retracement of the last leg move higher is at 105.80 and the 127% ext at 105.52 will remains key support. If broken, we should see a move stronger move lower of the trend higher since late September.

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Intraday Update: Double top completion. We are trading at the 50% retracement, and don't be surprised if there is some consolidation near the 87.70's now as the intraday RSI's have reached oversold.

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Intraday Update: The EURUSD has an inverted head and shoulder pattern develop while the pair trades above the 1.0500 level. The neckline is at 1.0600.

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Intraday Update: GBPNZD slammed back to key support today near the 2.1375 level following the RBNZ, but overall still in a bull flag pattern. The current level near the 2.1400 level may offer a good risk/reward for longs.

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Intraday Update: As the FX market goes into month end flow trading (on a big US holiday week) the GBPUSD traders are paying very close attention to the 1.2620's. A break of this level today would allow for a move back to the 1.2725 level and near channel resistance. Massive US data dump today at 8:30am ET with prelim GDP, unemployment claims and durable goods...

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Intraday Update: Bitcoin is at the 24% retracement of the Nov 4th lows to Nov 22nd highs. The daily RSI showed yesterday (not shown) that a further pullback was possible below the 93500 and a further slide to the 87296 can't be ruled out now.

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Intraday Update: Ahead of the Australian CPI and the RBNZ highly anticipated 50bhp cut in less than 24 hours the AUDNZD is back at key support at 1.1085. Conventional wisdom and technical support would argue this is a good place to be long the AUDNZD. However, what if CPI comes in below expectations, or the RBNZ gives the market a "hawkish cut?" A double top/false...

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Asian Session Update: USDCAD broke higher towards the channel resistance at 1.4170's as Trump proposed 25% tariffs on Canada and Mexico. Keep in mind, he is NOT president YET. However, it has freaked any USDCAD shorts out of their positions. Channel resistance should be strong in European trade.

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Intraday Update: With yields moving lower, the USDJPY should be in focus as it is developing a bearish wedge. Support is at the 153.30 with resistance near 155.00. If yields continue lower a breakdown would be the risk.

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Asian Session Update: AUDNZD has broke to new 2024 highs in Asian trade, which if sustained above the 1.1150 level would put the 1.1256 level in play next.

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Intraday Update: The EURUSD is testing 1.0500 and the GBPUSD is nearing the 1.2600 level support, and break lower would target long term trend line and 78% retracement at 1.2545

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Intraday Update: Gold breaking higher, which may allow for a move to the 50% retrace at 2664, then 2694.