(Last Updated September 24, 2020 6:22 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 Switzerland SNB Interest Rate Decision 2020 Swiss Franc 2020-09-24 07:30 GMT -0.75% United Kingdom Gfk Consumer Confidence Sep 2020 British Pound 2020-09-24 23:01 GMT -27 Mexico Interest Rate Decision 2020 Mexican Peso 2020-09-24 18:00 GMT 4.25% Norway Norges Bank Interest Rate Decision 2020 Norwegian Krone 2020-09-24 08:00 GMT 0% Turkey TCMB Interest Rate Decision 2020 Turkish Lira 2020-09-24 11:00 GMT 8.25% United States Initial Jobless Claims 19/Sep 2020 US Dollar 2020-09-24 12:30 GMT 840K

FX Market Hourly Update

Price Action on the Daily Chart

Over the past hour,has been anin the forex market, increasing 411 pips (0.18%). Intraday trend traders may wish to note thathas the strongest trend on the hourly timeframe over the last 20 price bars. Finally,‘shas just been breached.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. Of note is that USD was the outperformer for the day, moving by 0.93%. On the flip side, MXN fared the worst, moving by -3.15%.



And in terms of interesting streaks, USDTRY has 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. 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, 50 and 100 day moving averages. Outside of, other pairs that crossed notable moving average levels includeand; they crossed their 20, 20, 50, 100, 100, 100, 100, 100 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.





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





Forex Market Insights from TradingView

NZDJPY in a bearish trend, done over SnR and zig-zag patternAll of my market shared technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content. At this profile page, the analysis, ideas and also, the strategy of a chart belongs to Khiwe; -it is not to advice on financial markets; please apply your own analysis and confirm it with price action.

–NZDJPY Bearish Set-up

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 0.19 for nzdusd, suggesting traders are quite bearish on the asset. And regarding the forex pairs getting the most technical talk on TradingView, see. Here’s one comment we thought was especially interesting:





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.