Technical

Basic OverviewLast Friday, gold prices rose after the release of the US non-farm payrolls report. The data showed a further slowdown in the labor market with the unemployment rate rising and wage growth declining. This led to lower real…

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The USD/CAD pair hit its lowest level since June 3 earlier today, testing the lower low at 1.35972. The 200-day moving average was just below that level at 1.35953. Today’s low was at 1.3601 as buyers/profit-takers took advantage of the…

In this July 5, 2024 Forex Market Opening Video, I take a technical look at the three major currency pairs - EURUSD, USDJPY, and GBPUSD. Today, the US jobs report was mixed, with nonfarm payrolls in June coming in above expectations, but…

Basic OverviewThe US dollar fell broadly after weak US jobless claims and the Institute for Supply Management’s services PMI. Overall, the data did little to change interest rate expectations, but it reinforced the view that the Federal…

Basic OverviewCopper has been rallying on key support recently and extended gains this week after China’s Caixin manufacturing PMI was released as the survey hit its highest level since May 2021. Over the past few weeks, the downward…

Basic OverviewThe US dollar started the week on a weaker note as the new month began. Last week’s strength may have been driven more by end-of-quarter flows than anything fundamental as economic data did not change interest rate…

Basic overviewThe US dollar continues to get support from good economic data as seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although this data keeps interest rate expectations stable around…

Basic overviewThe US dollar continues to get support from good economic data as we recently saw from the US PMIs last Friday and the US Consumer Confidence report yesterday. Such data keeps interest rate expectations stable around two cuts…

In the June 21 kickoff video, I look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the objectives are for each.EURUSD corrected higher to test a 61.8% retracement…