ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: The DXY hit a brief new trend highs, but still struggling at the underside of the long term triangle. A sustained break of the 102.70 level today would suggest a move towards the 200dma or the 50% retracement at 103.44 level.

ForexAnalytixPipczar

Asian Session Update: Ahead of the RBNZ decision, the NZDUSD is in a very tight .6110-.6150 range. A range break is expected in the next 5 minutes following a 25 or 50bpb cut.

ForexAnalytixPipczar

Possible false breakout US 10yr yields and this is a risk for risk sensitive currencies like USDJPY and USDCHF

ForexAnalytixPipczar

Intraday Update: Ahead of the US jobs report the USDMXN is testing some major support (channel) as US equity markets futures trade to highs ahead of the data as well. A break of the 19.05 level today would be a bearish event for the pair.

ForexAnalytixPipczar

Intraday Update: Cable has completed the bear flag and is nearing the 78% retracement on some very dovish Baily comments(discussing aggressive rate cut protentional). Intraday RSI's are oversold, so any bounce back towards 1.3150 today should find sellers now. FX:GBPUSD

ForexAnalytixPipczar

Intraday Update: Crude is testing some key resistance which is previous support from June. A break higher would put the descending trend line at $74.20 in play.

ForexAnalytixPipczar

Intraday Update: After breaking channel support yesterday the GBPUSD is now developing a bear flag pattern.

ForexAnalytixPipczar

Intraday Update: The USDMXN is nearing the 19.74 key resistance ahead of the new Mexican government inauguration today, and a break higher would put the 20.1500 resistance is play once again.

ForexAnalytixPipczar

Intraday Update: Cable has broken the ascending channel, now any move to the 1.3350 should find resistance. Support is now at 1.3250.

ForexAnalytixPipczar

Intraday Update: The cable has stalled ahead of the 161% extension, but supported at the channel at 1.3360. A break below lows today may set the stage for a bigger pullback. Above the 1.3435 level would target 1.3500.

ForexAnalytixPipczar

Intraday Update: The same think happened with a lot of the JPY pairs overnight after Ishiba looks to be the next Japanese PM and is more in line of the BOJ's thinking (continue to tighten mon pol) and we have seen a lot of false breakouts like the GBPJPY which hit the 127% extension to 196.22 and reversed. Now we'd expect sellers back at the 193.70 level on any...

ForexAnalytixPipczar

Intraday Update: The USDMXN is breaking higher intraday and is nearing the 61.8% retracement level of the last move lower. Also keep in mind this is a bullish channel and on Oct 1 the new Government will be inaugurated which may have some MXN bulls concerned.

04:06

ForexAnalytixPipczar

There are a lot of opposing forces with the USD in the coming sessions with month end flows, corporate month end flows and economic data. The EURUSD is also approaching very critical resistance near the 1.1250 level which is a trend line from 2008!

ForexAnalytixPipczar

Intraday Update: The USDJPY Has rallied of channel support overnight at the 143.00 level as we have been watching, and now back at key resistance. A break above 144.70's could trigger some buy stops as we are testing a longer term descending trend line.

ForexAnalytixPipczar

Asian Session Update: The Kiwi is nearing the 127% extension, intraday RSI's are overbought but still pointing higher. Highs from July 2023 come in above the .6400 level.

ForexAnalytixPipczar

Since 2023 we've seen a massive divergence between China and US equities. The overnight package by the PBOC could spur some longer term rotation back into China and out of the US equities markets in the weeks and months ahead.

ForexAnalytixPipczar

Intraday Update: The AUDUSD is testing the LONG TERM weekly trend line which does suggest the .6900 level will be make/break for the pair this week. With the market past the RBA and China stimulus moves, this becomes make or break for the pair.

ForexAnalytixPipczar

Intraday Update: The EURGBP intraday RSI's are very oversold as the EURGBP breaks lower. The 127% extension at .8314 is the near term target, however the RSI's may allow for a near term bounce, but any move back to the .8380's should find sellers now.