Daily Forex News

WTI crude oil futures settles at $85.14 to end the trading week (22-Jan-2022    at   01:42:34 am)

The price of WTI crude oil futures are settling at $85.14 to end the trading week. That is down $0.41 or -0.48% on the day. The high price reached $85.56. The low reached $82.78.  The high prices reach reached $87.10. The low for the week was on Monday at $81.58. The high price was a new seven year

GBPJPY broke through the floor and ran lower (22-Jan-2022    at   12:46:36 am)

GBPJPY on the hourly chart Yesterday, I posted about the GBPJPY. The pair had continued to find support against a floor at the 155.39 to 155.44 area, but also found resistance against the falling 100 hour moving average (blue line in the chart above). Something had to eventually give, a

USDCAD stays above cluster of MAs (21-Jan-2022    at   10:27:26 pm)

USDCAD buyers take the price above a cluster of MAs today The USDCAD buyers are making a play today.  Here are the technical reasons: The price low yesterday stalled ahead of the price low from Wednesday. The low reached 1.2452. The low from Wednesday's trade reached 1.24476.  More

EURGBP bounces higher after push to near two year low stalls (21-Jan-2022    at   09:42:50 pm)

EURGBP on the hourly chart The EURGBP moved to the lowest level since February 2020 yesterday reaching 0.8305.  That took out the previous days low at 0.83124 and also moved below a swing area on the hourly chart at 0.83219 to 0.83242 (see green numbered circles).  T The price did bounc

USDJPY bounces off earlier low (and swing low from last week) (21-Jan-2022    at   08:52:00 pm)

USDJPY on the hourly chart The USDJPY has seen a down, up and back down day.  The last move to the downside has seen the price retest the earlier low for the day and also a swing low level going back to last Friday's trading (see blue numbered circles. The pair did move below that level

S&P index approaches its 200 day moving average (21-Jan-2022    at   08:12:13 pm)

The major US indices are continuing the move to the downside with the NASDAQ down over 200 points. The S&P index is down around 40 points. Looking at the S&P daily chart, is approaching its 200 day moving average. That level comes in at 4429.41. The low price today reached 4437.25 (the price is curr

The GBPUSD steps to a new low for the week and near swing area/100 day MA (21-Jan-2022    at   07:36:30 pm)

GBPUSD tests lower swing area and 100 day moving average Recall from last week in the GBPUSD, pair moved above its 200 day moving average for the first time since September 2021, but the tries above that moving average failed. That led to selling on Friday last week and set up this wee

EURUSD rebounds toward falling 100 hour MA/50% midpoint of recent range (21-Jan-2022    at   07:15:00 pm)

EURUSD tests 50% and 100 hour MA The EURUSD cracked below a trend line on the hourly chart yesterday near 1.1318 on it's way to the lowest level since January 10th. The low price reached 1.1300 in the Asian session today - a nice round, natural level to find support buyers. The price mov

The CHF is the strongest and the NZD is the weakest as NA traders enter for the day (21-Jan-2022    at   06:07:44 pm)

The strongest to weakest of the major currencies As the North American session begins, the CHF is the strongest and the NZD is the weakest.  The USD is mixed with gains vs the CAD, AUD, NZD and GBP, and declines vs the EUR, JPY and CHF.   US stocks are trading lower after Netflix earni

Stocks give up gains and close at session lows for the 2nd consecutive day (21-Jan-2022    at   02:16:42 am)

The major indices gave up solid gains on the day and are closing at the lows for the second consecutive day. The NASDAQ index and Russell 2000 were the worst performers as investors rushed for the exits.. The Dow industrial average gave up a 462 point gain and is closing down -313 points.

AUDUSD reverses gains after 100 day MA tested (21-Jan-2022    at   01:23:19 am)

AUDUSD retraces the NY session run higher The AUDUSD trading low for a world higher stalled near key resistance.  The AUDUSD moved higher earlier today on the back of a  strong jobs report for December 2021. The unemployment rate fell to its lowest since 2008 and near a 50-year low.  T

WTI crude oil settles $85.55 (21-Jan-2022    at   12:53:21 am)

Crude oil closes down marginally The price of WTI crude oil futures are settling at $85.55 for the March contract. That's down -$0.25 or -0.29%. The low price reached $84.73. The high price extended to $87.10. The price this week traded at the highest level since October 2014. The run t

EURUSD moves to a new session low and tests the week's low (21-Jan-2022    at   12:11:44 am)

EURUSD tests cluster of support The price of the EURUSD has moved to a new session low and in the process has moved below trend line support (the red numbered circles), the 61.8% but remains above the recent swing lows from Tuesday (at 1.1314), and January 11(at 1.1317 and 1.13126 - see

GBPJPY continues to hold support floor and MA resistance ceiling. (20-Jan-2022    at   10:44:29 pm)

The GBPJPY trades between floor and MA ceiling Yesterday in a post I outlined the resistance against the 100 hour moving average and a floor being established on the downside (see post here). Today, the GBPJPY is continuing to hold support at the floor between 155.39 to 155.44. That low

EURGBP trades to another 23 month low today (20-Jan-2022    at   10:21:05 pm)

EURGBP on the daily chart The EURGBP has been stepping lower since moving above its 200 day moving average in early December, and failing.  In mid-December the price tested that 200 day moving average, found sellers against it and has push lower since that test. In early January, the p

USDCAD sets a lid on the pair's rise vs the 100 hour MA/200 day MA (20-Jan-2022    at   08:14:14 pm)

USDCAD consolidates near lows, but below MA levels The USDCAD has been trading in a up and down fashion after bottoming on January 13 and again yesterday (the low yesterday reached 1.24476 just below the low from January 13 at 1.24525). The high price of the last six days has reached 1.

GBPUSD trade up, down, and up and currently tests 100/200 hour moving averages (20-Jan-2022    at   07:56:42 pm)

GBPUSD test the 100 and 200 hour moving averages The GBPUSD is mired in a narrow 41 pip trading range for the day. The average over the last 22 trading days has been 75 pips. So there is room to roam. The problem is the market is currently stuck between support near a swing area between

Us stocks open higher. Nasdaq claws back most of decline from yesterday (20-Jan-2022    at   07:38:19 pm)

The US major indices are opening higher with the NASDAQ index leading the way. It is called back most of the declines from yesterday and trades up 1%. A snapshot of the market currently shows: Dow industrial average up 144 points or 0.41% at 35178.72 S&P index up 24 points or 0.52% at 4556

USDJPY move to new lows. Tests 61.8% retracement of move up from November low/swing area (20-Jan-2022    at   07:21:23 pm)

USDJPY is testing retracement and swing area The USDJPY has seen swings up and down in trading today. The early Asian session low stalled just ahead of the 61.8% retracement of the move up from the November swing low at 113.984. The low reached 114.017.The subsequent rise took the price n

EURUSD consolidates in up and down trading range (20-Jan-2022    at   06:58:03 pm)

The EURUSD is trading up and down between technical levels The EURUSD is consolidating in an up and down trading range. The high to low trading ranges only 38 pips. The 22 day range is 65 pips. There is room to roam. Yesterday the range is only around 39 pips. The narrow trading range h

The AUD is the strongest and the NZD is the weakest as the NA session begins (20-Jan-2022    at   06:10:47 pm)

The strongest to weakest of the major currencies The AUD is the strongest and the NZD is the weakest as the North American session begins. The USD is little changed/mixed with the largest declines vs the AUD and largest gains vs the NZD. The greenback is lower verse the CAD as well.  Stoc

GBPJPY has up and down day, but stays below overhead MA on the hourly chart (20-Jan-2022    at   01:29:22 am)

GBPJPY stalls against its 100 hour moving average The GBOJPY pair has been moving up and down in trading today. On the downside, the low did take out the lows from yesterday and on Friday near 155.44.  However the low could only reach 155.39 before reversing and heading back higher.The ru

Stocks rotate back to the downside (20-Jan-2022    at   12:36:01 am)

The Dow and S&P are trading at session lows. With the declines, the S&P is now more comfortably below its 100 day moving average of 4576.85. The current price is trading at 4560, down 16.88 points or -0.37%.  S&P index is trading below its 100 day moving average Meanwhile the Dow indust

GBP/USD: Bullish channel breakout and overbought conditions favor buying dip - BofA (20-Jan-2022    at   12:05:16 am)

Bank of America Global Research discusses GBP/USD technical outlook and likes buying dips in Q1. "In late November and December we liked buying GBP at 1.32 for a rally to the 1.35s due to a variety of technical conditions. Since then GBP/USD has rallied and broke out above the channel with s

Crude oil continues it's race to the upside (19-Jan-2022    at   10:29:45 pm)

The price of crude oil continues it's move to the upside with the price moving to high of $87.90. The price is off that high at $87.18, but is still up solidly on the day (up 1.99% at $87.19). The March contract is up 1.59% at $86.37.  Crude oil on the daily chart Looking at the Februa

The bitcoin selling continues on the weekend as it falls through $35,000 (23-Jan-2022    at   12:53:50 am)

There's no respite for bitcoin today after it sank to the lowest levels since July a day ago. It's continued lower, falling $2091 to $34596, which is the lowest since July 26. On Friday, El Salvador President Nayid Bukele tweeted that the country bought 410 bitcoin but that didn't help. T

Bitcoin's head fake to the upside, sends the digital currency lower today (21-Jan-2022    at   11:00:43 pm)

Bitcoin on the hourly chart failed on the break higher Yesterday in a post, I speculated that the Bitcoin's move to the upside was potentially a signal "a bottom is in place".   After all, the price moved above a trend line on the hourly chart, the 100 hour moving average and 200 hour M

Bitcoin falls through $38,000 as the rout extends (21-Jan-2022    at   06:21:13 pm)

Bitcoin has tumbled $1000 in the past 30 minutes and taken out the Asian low. It's now down 7.0% to $38,445 in the worst fall since the omicron rout in late November. Ethereum is down 9.5%.Zooming out to the daily chart (above) it's not a pretty picture. The major double bottom from Septembe

BTC/USD testing US$40K (21-Jan-2022    at   06:41:53 am)

Bitcoin chart as an example: Other markets were sold heavily, seems to be a bit of a catch up 

Robinhood news (rolling out crypto wallets) does not appear to be enough for Bitcoin (21-Jan-2022    at   04:28:12 am)

The news from Robinhood is here from earlier: Robinhood to begin rolling out crypto Wallets to 1,000 customers - todayBTC/USD is still dribbling lower:

Robinhood to begin rolling out crypto Wallets to 1,000 customers - today (21-Jan-2022    at   03:16:04 am)

The firm announced via a blog post, link. Meanwhile, BTC has dropped under $42K:

Fed suggests best CBDC be privacy-protected, widely transferable and identity-protected (21-Jan-2022    at   12:22:52 am)

Any CBDC would best serve US interests by being privacy-protected, intermediated, widely transferable and identity-protected There's no recommendation on adopting a CBDC, as Powell had said Paper not intended to signal it will make any imminent decision about the appropriatene

Crypto market shrugs off potential Russian ban (20-Jan-2022    at   11:55:10 pm)

The Russian central bank proposed banning the use and mining of cryptocurrencies in Russian territory today but it had no effect on the price. Bitcoin is up 3% today and ethereum up 4%. This isn't the first ban as China and several other countries have banned crypto for reasons spanning from energy

Bitcoin breaks and runs. Is the break signaling a bottom is in place? (20-Jan-2022    at   09:26:02 pm)

Bitcoin makes a break higher The price of bitcoin has been trading below its 200 hour moving average since breaking on January 17. The low prices since the break bottomed on January 18 and January 19 near swing lows going back to January 9 and January 11. Yesterday, the high price howe

Bitcoin hits a new weekly high as Crypto.com hack ignored (20-Jan-2022    at   08:52:20 pm)

The hack of Crypto.com today hasn't hurt bitcoin. The company said about $34 million in funds was impacted by the theft and 483 accounts. The exchange has not explained how attackers were able to access its users' accounts and bypass two-factor authentication . Instead, bitcoin is reacting to the so

Reports that Man Group is looking into creating a crypto fund for its clients (20-Jan-2022    at   09:44:09 am)

CEO Luke Ellis speaking at a Bloomberg event  “It’s something we’re considering,” “There’s an awful lot of ways of just sitting passively on crypto, you can just go buy the underlying, there’s all sorts of ETFs, and so on. We’re not going to do something like that,”  “The institutional

Google’s digital cards might soon enable users to hold bitcoin and spend fiat (20-Jan-2022    at   05:07:21 am)

Google has formed partnerships with Coinbase and BitPay to enable the functionality. It is still unclear when Google would start accepting bitcoin for transactions. The info comes from here, check it out for more if interested.  As always with items such as this, do take care and

Cryptocurrency ATMs are being shut down in Singaporea (19-Jan-2022    at   09:19:16 am)

Singapore had 5 of the machines, where tokens such as BTC and ETH could be bought with fiat currency. The MAS guidelines that have led to the shuttering of the machines said the ATMS could encourage people to trade impulsively. (Those amongst us who have never traded impulsively can nod sagely, the

Bitcoin moves away from 100/200 hour moving averages and trendline resistance (18-Jan-2022    at   10:57:58 pm)

Bitcoin on the hourly chart The price of bitcoin traded to the lowest level since January 11 and in the process tested the low from that day at $41,284. The low price today reached $41,290.06. The current price is trading at $41,602. A move below that level would open up the door toward

Bitcoin slips through $42,000 in 3% decline as we wait for the next big move (17-Jan-2022    at   11:23:27 pm)

Bitcoin looked like it might crumble earlier this month after it fell through the December spike low of $42,101 but after a quick dip through $40,000, it steadied and then bounced to $44,451 last week. Unfortunately, it's back in the morass and under some modest pressure today, falling 3% and back b

Cryptomarket changing landscape (17-Jan-2022    at   01:21:16 pm)

The Cryptocurrency Fear and Greed Index has been cruising between 21-23 for the past seven days - in the extreme fear territory, finding itself in the middle of that range on Monday. Meanwhile, the value of all coins tracked by CoinMarketCap fell 0.5% in the last 24 hours to $2.05 trillion. By

Use of Bitcoin for crypto payments is declining (17-Jan-2022    at   09:26:39 am)

Says Bloomberg, citing BitPay Inc., one of the biggest crypto payments processors in the world Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020  Ether purchases accounted for 15% of the total stablecoins 13% new

Walmart plans to create its own cryptocurrency and collection of NFTs (17-Jan-2022    at   02:35:12 am)

Filings sighted by CNBC indicate: Walmart intends to make and sell virtual goods. said it would offer users a virtual currency said it would also create its own collection of non-fungible tokens ps. BTC weekend update:

Tesla aims to start initial production of its Cybertruck by the end of the first quarter of 2023 (14-Jan-2022    at   09:54:18 am)

Reuters with the Tesla report, citing an unnamed person familiar with the matter: The person said the delay comes as Tesla is changing features and functions of the electric pickup to make a compelling product as competition heats up in the segment. Tesla is expected to make limit

North Korean hackers stole a total of $395 million worth of crypto coins in 2021 (14-Jan-2022    at   06:47:37 am)

Wired had the report: a nearly $100 million increase over the previous year's thefts by North Korean hacker groups total over the past five years to $1.5 billion in cryptocurrency alone the seven breaches in 2021 amount to three more than in 2020 (dwon on the 10 in 2018, when they stole

Bitcoin makes a quick move lower (13-Jan-2022    at   08:23:07 pm)

Bitcoin's bounce after the fall below $40,000 this week was impressive but it failed to push higher today after rising to $44,400 and has come under some sudden pressure. The 100-hour and 200-hour moving averages are both near $42,600 and that's a level to watch as it coincides with yesterd

Crypto - Coinbase plans to purchase derivatives exchange FairX. (13-Jan-2022    at   09:26:40 am)

Coinbase is second only to Binance in spot trading volumes of cryptocurrencies.  FairX is a Chicago-based derivatives exchange with substantial retail market experience. The purchases would appear to enable Coinbase to expand by offering its clients access to certain crypto futures traded on a CFT

More on the UK parliament committee's 3 concerns on a digital currency (GBP) (13-Jan-2022    at   06:11:04 am)

Earlier headline summary is here:3 reasons a UK committee is wary of a digital poundMore detail here at a Reuters report:an e-pound used by households and business for everyday payments could see people move cash from commercial bank accounts to digital walletsThat could spark financial instability

3 reasons a UK committee is wary of a digital pound (13-Jan-2022    at   05:03:17 am)

Saying:digital pound for retail use could harm financial stability, raise the cost of credit and erode privacyhowever, a central bank digital currency for wholesale use should be looked at in more detail Info via Reuters,  more to come  as further details become available

Coinbase says account issues may impact trading (12-Jan-2022    at   04:51:22 am)

Says the issue could be impacting trading. BTC update: