AUDJPY at key turning point So, the tariffs have finally come and are due to come into effect on the 24th September. There has been a muted response from China, so far,  and the price action has been choppy. However, as Justin points out, all eyes are on China to see how they will respond.

Nasdaq down -1.43% and leads the downside The trade tensions with China look like they about to intensify as Trump is set to announce new tariffs on China “after the close”.  China has said they would look to retaliate and that sent the likes of Apple lower on retaliation fears (down -2.66%).  Amazon was also

Up 0.6% on the day The GBPUSD is moving to the highest level of the day and in the process is trading at the highest level in 6-weeks (since July 31). Looking at the hourly chart above, the price is moving toward the topside trend line at 1.3158. The 100 day MA  is within sights

AUD/USD continues to hug the two key hourly moving averages ForexLive Despite reports that trade tensions between US and China may escalate, it’s not really affecting the aussie on the day against the greenback. The aussie moved lower earlier in the session but the trendline support helped to limit the fall before price recovers to

Pair tests support area The AUDUSD is getting hit on the back of the rumblings that Pres. Trump is wanting to enact the $200B of tariffs on China. The price has moved to new session lows and tests the 200 hour MA and 50% retracement at the 0.7156 and the 100 hour at 0.71484. A

Manafort is cooperating with Mueller It’s not yet clear how much cooperation he will be doing, or what he knows. He’s certainly not getting a sweetheart deal. He’s already been found guilty to counts that will lead to several years in jail and with this plea he will get more jailtime and has agreed to

100 hour MA is the first key MA target The EURUSD has tumbled lower and moves toward the 100 hour MA at 1.16274. Just below that is the 50% at 1.16235.  The 200 hour MA is at 1.16122. With the decline, the EURJPY is also getting smacked after testing the key 200 day MA and

Technicals also contributing to selling after move higher this week. As reported earlier, the EURJPY tested a key technical target at the 200 day MA and 50% retracement.   Since then, the price wandered lower, and then the pair got a kick lower on the back of risk-off trades from the Trump tariffs rumblings.   The price

Pair stalled at the topside trend line earlier in the day The GBPUSD tested a topside trend line earlier in the day and stalled against that trend line not once but twice (after Raab headlines) . That helped to put a lid on the pair. The price has been pushing lower since then.   The fall

Up from $67.75 last week The price of crude oil is settling the day at $68.99. That is up $0.40 on the day or 0.58%.  The contract is also up on the week. Last Friday, the contract settled at $67.75. The high for the day reached $69.91. The low extended to $67.94.  The price action

The GBP was the strongest. The JPY was the weakest.  The trading week is coming to an end, and that means it is time to crown the strongest and weakest of the major currencies.  The ranking is determined by calculating the % changes of each currency vs each other and summing up changes.  The most

Carney is now in a session with the Irish central bank Says that it is not a prediction but something the BOE needs to prepare for Whatever form Brexit takes, would expect UK and Irish economies to remain influenced by global economy developments ForexLive The market has been harping on a potential plunge in UK

Lows from August/September eyed The USDCHF is back down retesting the earlier NY session lows at 0.96575. The earlier low stalled ahead of the end of August/September 7th lows at 0.8651 and 0.96407.  A move below those lows would look toward the 50% and lower trend line on the daily chart below at the 0.96267

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GBP/USD trades near flat at around 1.3050 ForexLive The pound is holding up just fine ahead of the BOE meeting later to come and rightfully so. Barring any surprises, the meeting today will be a bit of a non-event. The central bank isn’t expected to move to hike rates until next May and there isn’t

…but off low levels too The major stock indices are ending the session mixed. While the Nasdaq is closing down on the day, the S&P and Dow is ending the session higher – albeit marginally.  The S&P index closed up 0.96 points or 0.03% at 2888.86. The high reached 2894.65. The low extended to 2879.20

$200B of new tariffs may not go into effect The headline news that Mnuchin would head proposed US/China trade talks, is giving the risk pairs a boost. AUDUSD. The AUDUSD moved above a trend line and 100 hour MA earlier (blue line – see post here).  That was a bit more bullish. The headline sent

GBP/USD back up to 1.3030 levels ForexLive Some softening in the dollar and the yen is seen across the board now with the pound and euro quickly erasing earlier losses. GBP/USD has jumped back up from 1.3000 to 1.3030 levels while EUR/USD is back up from 1.1570 to 1.1600. Meanwhile, AUD/USD is also back up