New session lows in the EURUSD

Moves closer to 1.1876 next targetThe EURUSD is trading at new session lows and moves closer to the next target at the 1.1876. That level was the swing low from 2010.  On Friday (last week), the price stalled around the level before pushing above. That rally stalled at 1.2069 yesterday.

Another outside day, another sign of a turn

AUD/USD reverses to three-day low The US dollar is the story today. It reversed on a handful of fronts on Tuesday and it’s doing the same on a handful more today. One of them is AUD/USD. The pair hit a four-week high yesterday but it’s fallen more than a full cent from the best levels […]

The EURGBP unravels. Trades below trend lines.

Falls below 100 and 200 hour MA tooThe EURGBP has been breakin lower in trading today. Like the EURUSD, the par reached another extreme yesterday but started to reverse lower.  Looking at the 4-hour chart below, the price failed on the a break above a topside trend line.  From that failure, the pair started to crack […]

Dollar rebound on track on bullish US data

© Reuters. The dollar rebounded from a two-and-a-half year slump – The dollar continued its comeback from a two-and-a-half-year slump, buoyed by a pair of economic reports that topped economists’ forecasts, raising investor expectations for solid third-quarter economic growth. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six […]

The biggest mover for the day? GBPCAD is up nearly 1%

What are the technical’s saying?Looking at the strongest and weakest right now the GBP is the strongest, while the CAD is the weakest.  So where is the strength in the GBPCAD coming from?Looking at the USDCAD, it has moved sharply higher and that is the big contributor to the GBPCAD (USDCAD has moved 0.80%).  In […]

Oil rebounds as refinery restarts

Oil erases losses WTI is now slightly higher on the session at $46.51 from as low as $45.84 a short time ago. The reason for the recovery is a report that Marathon’s Galveston Bay refinery has restarted. It’s a 450,000 bpd facility that has begun to refine crude once again. The market is trying to […]

USD/CAD climbs above1.26 in third day of gains

Biggest one-day jump in a month USD/CAD is up a full cent today and trading near a one-week high. The pair failed to break below the July lows on Tuesday for the second consecutive day. That made for a minor double bottom and USD/CAD has springed from there. Canadian current account balance was better than […]