Today, first day of the month we had the Non Farm Payroll and Average Hour Earnings from the US. The numbers that came out were pretty bad, the average hour earnings were expecting to drop from 0.3 to 0.2 but instead it dropped 0.1%. And iin the case of the NFP, it not only came aroun 30k worst than forecast, the previous number was also revised from 209k to 189k. The initial move was the first and logical reaction to this numbers, in case of EURUSD price went up 65 pips but then it fell 120, in…
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EURUSD found support at 1.17 again
Today EURUSD made another push to the downside helped by the Retail Sales from the US. price broke the 100 hourly moving average and fell a little bit below (almost nothing) from last week low. As the moving average are going sideways and market its not able to break the 1.17 level again, we might get into a period of consolidation, but in any case, if price breaks the 1.17 the move should continue to 1.16, and only if it breaks the 1.1850 it will have real chances to go to the years high and ev…
EURUSD goes down after CPI from friday
EURUSD took back the move to the downside. After pretty bad CPI number on friday, price breaking the 100 and 200 hourly moving average, considering it was friday, probably it helped on lost of momentum, today price started to move higher and then fell quick and almost hit the 100 horly moving average (after breakint the 200) at the New York Open. After that price stayed a bit in consolidation. So I guess price should continue going lower, but again, be careful with fundamentals.
An you can watch…
An you can watch…
EURUSD at key resistance area
Markets today on major had been choppy in most cases, execept from USDJPY that made a clear move to the downside. In this case, the EURUSD spent most of the day inside the range of 1.1710 and 1.1770. My bias has been to the downside and I think the technical still showing the, the main problem its the fundamental, to be more precise, the tension between the US and North Korea. Actually, the last move up that made price go quick above the range mentioned before was after Trump comments about this…
EURUSD made new lows but couldn't keep momentum
EURUSD made new lows for the week today but couldnt keep the momentum, making price reverse a 55 pips move. On the hourly chart we still inside a consolidation area from tuesday. I still think price shouldnt go back above the 100 and 200 hourly moving average to still have chances to see the pair falling. If price breaks it, we might see price trying to go to the 1.19 level. The main issue again with USD pairs its the fundamental, this time its not the data or political issues inside the US, its…
EURUSD broke 200 hourly moving average
EURUSD fell below the 200 hourly moving average and respected the 100 hourly moving average as expected. It also went below firday's low but then it quickly came up after hitting 1.1715, which is an important support (check weekly chart). And retraced to the 50% of todays range. Then probably cause of the time of the day price just stayed around that level. I still think the main resistance here should be the 100 hourly MA, but considering price broke the 200hma, we might get a pullback to that …
Quiet monday
Nothing much happened today on forex market, after NFP big move, EURUSD remains above the 200hma but very close to it so there still some chances to keep going higher. For the other paris i've been writing lately, in case of AUDUSD it couldnt make new lows but NZDUSD broke fridays low and fell another 50 pips. Like its been a quiet day in general the analysis of my today's webinar still in play.
I'm sorry seems something went wrong at last part of the webinar but you can watch my next webinar to…
I'm sorry seems something went wrong at last part of the webinar but you can watch my next webinar to…
EURUSD in possible long term retracement
EURUSD made another year high last week and has been moved around 1570 pips this year withouth much retracement, half of this movement has been in the last 2 months. The reason why I think EURUSD might be on a long term retracement its cause of the weekly chart, as you can see on the picture, price went above the 200 weekly moving average last week (green line) but failed to break after NFP on friday and price closed below that 200 weekly moving average. So we not only have a false break, the ca…
What to expect to AUDUSD for next week
Two weeks ago AUDUSD wasnt able to break the 200 weekly moving average (green line). It had a false break and this week something similar happened, price went above the 200wma but the most important its that it wasn't able to make new highs and the candle this time was bearish. Like price been trading to the upside for son long, it has a lot of room to retrace, to 0.7850 or maybe even 0.77.
The hourly chart its an update of what I've been writing this week, as expected price fell below the 200 h…
The hourly chart its an update of what I've been writing this week, as expected price fell below the 200 h…
AUDUSD and NZDUSD post NFP
We finally got a good data from the US, very good numbers from NFP and also the average hour earnings met the expectation that was an increase from the previous one.
So yesterday on my blog I forgot to consider a bigger move on fib, I said the break of the 100 hourly moving average (blue line) would change my bias and turn from bearish to bullish, but as you can see here, price just stopped at the 50% retracement from last weeks high to the low, and actually the break of the 100 hourly ma wasnt…