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
Technical Analysis
The USDCHF moved lower to start the trading week but found willing sellers near a key swing area between 0.86078 and 0.8619. The low held on Tuesday ahead of the election results. Those results sent the pair moving sharply higher. The run higher, extended back above the 100-day MA at 0.8667. It moved above the
The USDCAD remained (for the most part) this week in a range between 1.38337 on the downside and 1.3958 on the topside. The topside is defined by the high from last Friday and the high from the US election buying. Both those highs took out the August high at 1.3945. Both of those levels are
The S&P 500 index has ticked to 6000 for the first time. The new milestone was reached at 6000.02. The current price is at 5998.02 up 24.87 points or 0.42%.. The index reached 5000 9-months ago on February 8, 2024 Meanwhile the Dow industrial average is up 276.79 points or 0.63% of 44006.82. It has
The AUDUSD price action this week was up and down. The close from a week ago was at 0.6558. The current price is at 0.6562. Not a lot of change at the current level. However, in between, the price moved higher into the election. It moved lower with the dollar buying through the election. It
The NZDUSD this week found support at the last swing low going back to August 6 at 0.5912, before ignitiing a run to the September high at 0.63778. The subsequent high reached yesterday, extended to another key area. The swing area at 0.60313 to 0.60443 stalled the rally (see red numbered circles). So buyers did
The EURUSD is ticking lower in the US session and in the process is moving away from a swing area between 1.07609 and 1.07767. Staying below below that area keeps the buyers firmly in control. It is a close risk for sellers/traders. The Federal Reserve cut rates by 25 basis points yesterday, but the thoughts
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 major indices are set to open mixed/lower after the broader S&P and Nasdaq closed at record levels. The indices are up strongly this week as the market cheer the Trump victory along with a Fed that cut rates and is favored to cut in December too. Yields are lower today to start the US
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 moved above its 100 and 200 converged hourly MAs earlier today after breaking below it yesterday and staying below it on the corrective moves. That gave the buyers more confidence and the price moved higher. The run to the upside extended after breaking above its 100-bar moving average on the 4-hour chart at
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 EURUSD moved higher before the results of the election started to trickle in. The price moved up to test the 100-day MA and the 38.2% of the move down from the September high. The price moved lower as results came in, first breaking below the 200-day MA at 1.08687 and then the 100-bar MA
Is AMD stock a buy or sell? key technical analysis and forecast supporting to sell it 🔍 When it comes to deciding whether AMD stock is a buy or sell, recent price action and technical indicators offer valuable insights. Currently, AMD (Advanced Micro Devices) is showing signs of weakness as it fails to hold within
Pres. Trump blazed through the Presidential election and a new era begins. With control of the Senate and the House still up but leaning to the GOP too, the door is wide open for the administration for deregulation, smaller government, lower taxes. The theme is to grow the economy through the private sector with fingers
The GBPUSD has moved down to test the 50% and a swing area between 1.2844 and 1.28719. The midpoint level is at 1.2866. The low price reached 1.2864 and is bouncing modestly. The bounce will target the low from two weeks ago at 1.29064. Staying below keeps the seller in control On the downside, the
The EURUSD is continuing its move to the upside despite stronger services ISM nonmanufacturing data today. Employment moved higher as well. New orders were lower and prices paid was lower as well. Of course the election voting is ongoing with the results still hours aways starting with Georgia, one of the epicenters from 2020 election
Fundamental Overview The US Dollar started the week on the backfoot as the odds of a Harris victory jumped higher leading to a pullback in the Trump’s trades. Everything hinges on the US election now with a red sweep seen as the most bullish scenario for the greenback, while a blue sweep as the most
The RBA will be announcing its rate decision later tonight/tomorrow in Australia. The expectation is for no change in policy. Focus will be on what is ahead for the central bank Technically, the price high reached 0.66184 in the early Asian session. That took the price to the low of a swing area between 0.66189
The USDCAD broke higher at the end of last week and in the process extended above high from August at 1.39458. The high price reached 1.3958 and closed the week at 1.39484. However, after the weekend election poll news, yields moved lower, the USD moved lower and the USDCAD gapped down as well. That took
The influential Selzer poll out of Iowa showed a Harris lead over the weekend. That is not supposed to happen, and led to the USD moviing lower on the news. The US yields are lower. The US stocks are trading mixed (Dow modestly lower, S&P and Nasdaq modestly higher). European stocks are mostly higher. 10
Apple Inc. (AAPL) has long been a shining star in the stock market, winning the hearts of investors and traders alike. But even the best stocks need a breather, and recent price action hints that now might be the time to shift gears. Don’t worry—this doesn’t mean giving up on AAPL. It’s about being smart,
Bitcoin price forecast: on track for another ATH test, but watch these levels If you’re riding the Bitcoin wave, hang tight—things are getting interesting. As BTC/USD keeps testing significant levels, traders and investors are on edge, waiting to see if Bitcoin has what it takes to revisit its all-time high (ATH). With technical analysis pointing
If you’re tracking the crude oil market, buckle up—things are heating up, and not just on the charts. As the price of light crude (CL1!) dances around some serious technical levels, traders and investors alike are on high alert. The bearish vibe is alive and kicking, fueled by a blend of chart signals and macroeconomic
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 AUDUSD is lower on the week, but since bottoming on Wednesday, the price has moved up and down. IN the process, the price has seen the price move above and below the 61.8% of the move up from the August low at 0.6575. The price over the last day or so has also moved
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