(Last Updated September 30, 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 Australia Markit Manufacturing PMI Final Sep 2020 Australian Dollar 2020-09-30 23:00 GMT 55.5 Canada GDP MoM Jul 2020 Canadian Dollar 2020-09-30 12:30 GMT 3% Japan Tankan Large Manufacturers Index Q3 2020 Japanese Yen 2020-09-30 23:50 GMT -23 United States GDP Growth Rate QoQ Final Q2 2020 US Dollar 2020-09-30 12:30 GMT -31.7% South Africa Balance of Trade Aug 2020 South African Rand 2020-09-30 12:00 GMT ZAR29.7B

FX Market Hourly Update

Price Action on the Daily Chart

Over the past hour,has been anin the forex market, increasing 262 pips (0.29%). Traders interested in intraday trends may wish to observe, which has been in an uptrend over the past 50 price candles. Finally, it’s worth noting thatmoving average.The pairs that made the, on a percentage basis, over the past day were. The chart below illustrates. Note thatmade an especially large and surprising move over the past day.



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 ZAR was the big outperformer, changing by 0.82%. Alternatively, CAD changing by -0.49%, making it the worst performer of the bunch.



As for who is on a hot streak, EURNOK and USDTRY have now rallied 8 out of the past 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.For those who pay attention to moving averages,may be of particular interest. It crossed its 20 and 50 day moving averages. Outside of, other pairs that crossed notable moving average levels includeand; they crossed their 20, 20, 20, 20, 20, 50, 50, 50, 50, 100, 100, 100, 100, 100 and 200 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.





Lastly, instruments in the Forex asset class that are near their 200 day moving average are GBPCAD, USDHKD, NZDCHF and EURSEK.





Forex Market Insights from TradingView

Today, the indicator “Kenji” on the daily EURUSD chart generated a sell signal….The main problem of most trading strategies and indicators based on the average analysis is a number of false signals in the case of flat and trend reverse (for example, frequent crossings of the averages, numerous changes in the direction of the averages, etc.)….The Kenji indicator using a unique algorithm avoids the most common average analysis traps and significantly improves the quality of signals by determining the current state of the market (using the color indication “Kenji” shows the current state of the market: red color – downtrend, blue – uptrend, green – flat).

–kenji signals: sell eurusd

On TradingView, a consensus may be building on. The CFDTrading TradingView Sentiment Indicator reports a buy/sell ratio (a measure of buyers to sellers) of 7 for usdchf, which suggests traders are very bullish on the pair. And as for which forex pairs are getting the most insightful technical conversations, 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.