Technical Analysis

The USDCAD has been trending higher, though its momentum has started to slow. One key factor has been resistance at this year’s high, set back in August at 1.39458. This week, high prices have approached but stopped just short of that level, creating a ceiling. Of course, ceilings can be broken. If that happens, traders

The USDCHF moved lower after the US jobs report but held above support near 0.8632 (the low reached 0.86385 and bounced). The move back higher has now taken the price back above the 100/200 hour MAs which are near converged near 0.8661. The price has moved to a new high for the day at 0.86937,

The US jobs report has come and gone, with hurricanes and strikes influencing the number. You can find out the details HERE. What has happened technically. In the video above, I outline the key technical levels in play for the EURUSD, USDJPY and GBPUSD and explain why. THe USD is lower but will that trend

The broader indices are trading to new session lows: S&P index is down -93 points or -1.60% at 5720.40 NASDAQ index is down -473 points or -2.55% at 18132.97. Looking at the NASDAQ index, it is trading above and below key support near 18146.61. The price is just below the level now and if the

The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the break. When the market trends you can get those counter-trend

Earlier today, the buyers in the EURUSD took the price outside the Red Box, that has informed the pair over the last 11 trading days. There has been support down at 1.07609, and resistance 1.08725. The break higher today took the price up to 1.08874 before rotating back to the downside. After moving back into

What are the key technical levels in play as the North American session begins? and why? EURUSD: The EURUSD moved up to test the 200 day MA and swing area up to 1.08725 yesterday and found willing sellers on the first look. The price backed off into the close and extended to 1.0843 in the

USDCAD Technical Analysis The USDCAD has experienced a volatile month, with one day remaining. Key milestones include: Monthly low: 1.3472 (October 2) Monthly high: 1.3938 (today) Trading range: 466 pips, second-largest since December 2022 Uptrend dominant throughout the month Technically: Price rarely dipped below 100-hour moving average Last breach: Thursday last week, with support at

After testing the 10810 level and finding buyers near that level early in the US session, the price has snapped back to the upside and has entered into a topside resistance area between 1.0864 and 1.08725. That area is defined by the 100-bar moving average on a four hour chart, the 200 day moving average,

What are the key technical levels in play as the North American session begins? and why? EURUSD: The EURUSD hit the swing area support yesterday between 1.07609 to 1.07767 and found willing buyers. The price has pushed higher since then rebreaking above a swing level at 1.0810, the broken 61.8% of the move up from

The USDCAD has been stretching higher and is extending closer to the high price from 2024 at 1.39458. Move above that level and traders would target the 2022 high at 1.3970. Get above that level and the pair is trading at the highest level going back to 2020. In this video, I outline those topside

The NASDAQ index is trading up 96 points or 0.52% at 18663.79. That takes the price above the July 10 high closing level of 18467.58. On Friday, the price high traded above that level intraday but failed. In trading yesterday, the high price also moved above that high closing intraday and failed (closing near the

Fundamental Overview The main culprit for the US Dollar strength lately has been the rally in long term Treasury yields. The yield curve has been bear-flattening which is what you would expect with higher growth and potentially higher inflation expectations. There’s a good argument that the markets have been already positioning for a Trump’s victory

The GBPUSD buyers had their shot to make a move today. After bouncing off a key support level at 1.2938, the price surged higher, breaking above the 100 hour MA, 100 day MA, and 200 hour MA. However, despite achieving this technical breakthrough, the buyers failed to sustain momentum. On two separate occasions, the price

The AUDUSD closed below its 200-day moving average on Friday at 0.6628. In trading today, the price remains below that 200-day moving average. Stay below that level, keeps the sellers more in control. In the Asian session today, the price initially moved lower reaching 0.65789. That took the price within four pips of the 61.8%

Fundamental Overview Crude oil was one of the biggest movers today as the price gapped sharply lower following the Israel’s retaliation over the weekend. The reason for the drop is of course the lack of attacks against energy facilities. That’s something that’s been already known, so we might see a pullack now that this story

The EURUSD moved higher in the early US session and tested its 200-hour moving average currently at 1.08342. Although the price ticked above the MA line on a few hourly bars, the momentum stalled. The buyers turned to sellers, and the price has moved back to the 100-hour MA (blue line) at the 1.08056. The

The AUDUSD moved lower earlier this week, and in the process fell below its 100-day moving average at 0.66952. A corrective bounce higher on Tuesday saw sellers lean against that level. Going forward, that level is a key resistance target. The subsequent fall midweek took the price below its 200-day moving average at 0.6628. It

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The NZDUSD has moved lower this week, and in the process moved below a swing area between 0.6031 and 0.60387. That swing area was retested yesterday on a corrective move higher and found willing sellers. On the downside, the low price reached earlier today stalled at 0.5986. That was just short of the high of

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The NASDAQ index is soaring as yields back off. Durable goods were better than expected with ex Boeing numbers showing strength. The Michigan consumer sentiment came in better with inflation expectations lower than last month at 2.7% (versus 2.9%). The NASDAQ index is now up 243 points or 1.32% at 18658.80. The index is also

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview It looks like the market is taking some breather after an incredible rally in the US Dollar. This week was pretty empty on the data front, and we haven’t got any meaningful catalyst. The main culprit for the US Dollar strength has been the rally in long term Treasury yields. The yield curve

The EURUSD is making a technical break into the close as it moves above its 100-hour moving average for the first time since September 30. That level comes at 1.08129. Getting and staying above that moving average is a win for the buyers. The next target comes against the 200 hour moving average at 1.08423.

Yesterday’s Price Action Yesterday, the NZD/USD followed the USD’s upward momentum, breaking below the swing area support between 0.6031 and 0.60387. This move propelled the pair to a low of 0.59976, just shy of the psychologically significant 0.6000 level. Today’s Market Dynamics Today, the price rebounded, retesting the swing area resistance (0.6031-0.60387), but sellers leaned

Fundamental Overview The USD has been on a hell of a run recently despite the lack of catalysts and no major repricing in interest rates expectations. The main culprit for the recent strength in the US Dollar has been the rally in long term Treasury yields. The yield curve has been bear-flattening which is what

The USDCHF has been trading higher since September 30, and after breaking outside of the “Red Box” on October 4. The price moved up to a swing area and then above the 38.2% retracement during last week’s trading. On Monday this week, the price corrected down to retest the 38.2% retracement at 0.86318 and found

Shares of Apple are moving sharply lower after MIng CHi Kuo a widely followed analyst of Apple projects that iPhone 16 orders will be cut by around 10 million units for 4Q 2024 to 1H2025. Shares of Apple are currently trading down $6 or -2.54% at $229.86. Last week, the price reached an all-time high