The Forexlive morning Forex technical report for September 16, 2022

What is happening in the markets today and what are the key technicals in play for some of the major currency pairs?

• Stocks are under pressure with FedEx warning of slower growth and cost cutting measures.
• 2:00: The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term is tilting to the downside in the short term as it trades below the 100/200 hour MAs, but stays in an up and down range near lows.
• 4:20: The USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term is also confined today and trades above and below the converged 100/200 hour MAs.The Bank of Japan intervention took the volatility out of that pair, but it remains above the 38.2% of the last trend move higher.
• 6:54: The UK retail sales sent the GBPUSD pair to the lowest level since 1985 breaking below the pandemic low in the process and the low from last week near 114.04-08. Stay below is more bearish.
• 8:40: THe USDCAD broke to new highs for the year yesterday, and stayed above that level. The pair traded to the highest level since November 2020.(sorry for the problems with the USDCAD. The 50% is not 1.1336 but 1.3336