(Last Updated September 23, 2020 9:22 GMT)



Today’s Main Forex Events

Here’s a look at the main macroeconomic data coming out later today that may impact the forex market.

Metric Name Reference Period Currency Date Time Forecast Outcome United States Markit Manufacturing PMI Flash Sep 2020 US Dollar 2020-09-23 13:45 GMT 53.1

FX Market Hourly Update

Price Action on the Daily Chart

In the preceding hour,has has made the biggest move in the forex asset class, rising 7 pips (0.44%). Intraday trend traders may wish to note thathas the strongest trend on the hourly timeframe over the last 100 price bars. Last but not least, intraday traders may wish to take note of the fact thathour moving average.The pairs that made the, on a percentage basis, over the past day were. The chart below illustrates. None of the moves in the past day were especially noteworthy in terms of their size relative to their volatility over the past 30 days.



The chart below summarizes the price news by currency, showing which currency strengthened vs which weakened when equally averaged against other currencies. We see that USD was the big outperformer, changing by 0.52%. Alternatively, MXN changing by -1.75%, making it the worst performer of the bunch.



As for who is on a hot streak, USDTRY has experienced upwards move in 8 of the prior ten trading days.



Forex Trend News

Moving Averages in the Forex World

Over the past two weeks, theAlternatively, on a 90 day basis, the strongest trend appears on. Interestingly, aon the 14 day relative to the 90 day timeframe appears for. Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs. Price action traders will also want to note that a. Price bases often precede increases in volatility and a clear trend.For those who pay attention to moving averages,may be of particular interest. It crossed its 20 and 200 day moving averages. Outside of, other pairs that crossed notable moving average levels includeand; they crossed their 20, 50, 50, 50, 50, 50, 50, 50 and 100 day moving averages, respectively. From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that. See the chart below.





One other point on moving averages: instruments USDMXN, USDHKD, NZDCHF, EURNZD and GBPUSD are close to their 200 day moving average.





Forex Market Insights from TradingView

➖⚡➖ KEY TAKEAWAYS ➖⚡➖ ✔️ German Manufacturing PMI (Sep) Actual @ 56.6 – Forecast 52.5✔️ The EU and the U.K. have agreed to hold the next joint committee meeting on Monday September 28 ➖⚡➖ MARKET SENTIMENT ➖⚡➖ ✔️ EURO: Overall EURO has been undermined lately from the fear of a second wave over in the eurozone….Should we manage to break above the most recent highs just below 0.9220, that could open the doors for further upside….Until this channel breaks towards the downside, I would expect further bullish continuation in the choppy ascending channel.

–consistent channel structure with eurgbp

On TradingView, a consensus may be building on. Our TradingView Sentiment Indicator notches a buy/sell ratio of 0.12, which suggests traders are quite bearish on the pair. And regarding the forex pairs getting the most technical talk on TradingView, check out. Here’s a remark from one currency trader that we thought was especially worth sharing:





Looking for More Forex News?

For more forex news beyond what is offered on CFDTrading, check out Forex Factory FX Empire , and ForexLive . For the latest stories on specific currency pairs, try the articles below.