James Stanley

Senior Strategist at FOREX.com

price action, macro - opinions my own Sr. Strategist, https://t.co/lQguYxyk2Y no advice or recos, I do not DM

Articles

EUR/USD Bulls Build Support Bounce into the ECB Rate Decision

1 week ago | forex.com | James Stanley |David Song |Fawad Razaqzada

Tomorrow brings a rate decision from the European Central Bank with the wide expectation for a 25 bp cut. Despite that expectation EUR/USD has been breaking out over the past two months, setting a fresh three-year high just last Friday. The weekly EUR/USD chart is overbought and sellers had an open door to run a pullback at the start of this week – but they could not get below the 1.1275 Fibonacci level and bulls have since used that price as a springboard from higher-low support.
US Dollar Oversold Bounce from Fibo Support - Powell, ECB on Deck

1 week ago | forex.com | James Stanley |Fawad Razaqzada |Matt Simpson |David Scutt

U.S. Dollar bulls have had an open door to run a pullback from oversold conditions but so far this week, they’ve failed to push through short-term resistance levels. The larger drivers remain with Chair Powell’s speech later today and then the European Central Bank rate decision tomorrow, ahead of the Good Friday holiday and the long weekend in the United States. Last week saw the US Dollar go oversold on the weekly chart for only the second time in the past seven years.
Tariff Bounce Holds, Sentiment Shift Shows: SPX, Gold, USD, EUR/USD

1 week ago | forex.com | James Stanley |Fawad Razaqzada |David Song

It’s been a big move in equities over the past couple of weeks and the question now is whether sellers use this bounce to fade the rip or whether buyers continue to push. In the webinar, I went in-depth on several macro markets and in this write-up, I touch on a few of the high points. To access this webinar in real-time, click here for registration information. While last week opened with cries of a ‘possible black Monday,’ a week later the premise of such seems non-sensical.
Canadian Dollar Forecast: USD/CAD Faces BoC Meeting Ahead of Canada Election

1 week ago | forex.com | David Song |David Scutt |Matt Weller CFA |James Stanley

Canadian Dollar Outlook: USD/CADUSD/CAD extends the series of lower highs and lows from last week to register a fresh yearly low (1.3829), and the exchange rate may face increased volatility ahead of Canada’s federal election should the Bank of Canada (BoC) adjust the forward guidance for monetary policy.
U.S. Dollar Bounces from Support After Weekly Goes Oversold

1 week ago | forex.com | James Stanley |Fawad Razaqzada |David Scutt

The weekly chart of DXY went oversold for the first time since last August, and chasing prices lower with that backdrop can fast become complicated such as we saw in Q3 of last year. From that prior episode, we can also see where oversold doesn’t automatically mean a strong reversal, as it took more than a month for prices to turn and at this point sellers still have an open door to continue bearish DXY trends. Central bank rate decisions out of Canada and Europe could sway the matter this week.
USD/JPY forecast: Forex Friday - April 11, 2025

1 week ago | forex.com | Fawad Razaqzada |Razan Hilal |David Scutt |James Stanley

In what is rapidly turning into a financial drama worthy of a West End stage, global markets find themselves gripped by fresh uncertainty, courtesy of a worsening US-China trade confrontation. Unsurprisingly, the US dollar has taken a hammering. The greenback, often a barometer of market anxiety, slid overnight to its lowest level in six months. Stock index futures, meanwhile, see-sawed between gains and losses, offering little in the way of stability ahead of key US data.
EUR/USD Soars Ahead of Expected ECB Rate Cut

1 week ago | forex.com | James Stanley

It was a big week for EUR/USD as the pair pushed up to a fresh three-year-high. It was also a dramatic week for the US Dollar, driving a flurry of ‘de-dollarization’ claims on social media, similar to the prior weekend’s claims of ‘Black Monday’ ahead of this week’s open. For next week the ECB is widely expected to cut rates again, explained further in the below video. EUR/USD had a strong technical backdrop earlier in the week.
Canadian Dollar Forecast: USD/CAD Tanks into the Big Picture Range

2 weeks ago | forex.com | James Stanley

USD/CAD has posted its largest sell-off since 2020 as the pair has pushed below the psychologically important 1.4000 handle and back into the big picture range. It probably seemed unthinkable in early-February when the pair pushed a fresh 20-plus year high, but bulls continually failed at 1.4500 and that lasted long enough for sellers to take over, continuing the nine-year pattern of mean reversion in the pair. Markets remain volatile but if you’re reading this you probably already knew that.
Euro Forecast: EUR/USD Clears 2024 High to Push RSI into Overbought Zone

2 weeks ago | forex.com | David Song |James Stanley |Fawad Razaqzada |Matt Simpson

Euro Outlook: EUR/USDEUR/USD bounces back ahead of the monthly low (1.0778) to clear the 2024 high (1.1214), with the rise in the exchange rate pushing the Relative Strength Index (RSI) back into overbought territory. EUR/USD rallies to a fresh yearly high (1.1242) after completing a cup-and-handle formation earlier this month, and the move above 70 in the RSI is likely to be accompanied by a further advance in the exchange rate like the price action from earlier this year.
USD/JPY Teeters on Verge of Larger Breakdown

2 weeks ago | forex.com | James Stanley |Fawad Razaqzada |David Scutt |David Song

USD/JPY has shown some extreme volatility this week as it’s been multiple bounces between 145 support and 148 resistance. With U.S. inflation come in below expectations and potential for more U.S. rate cuts on the way, there could be additional motive for carry trades to unwind, and as we saw last year, that could be a de-leveraging event across global risk assets.