Technical Analysis

The AUDUSD pushed to the upside today after higher than expected CPI data, put the kabosh on a rate cut soon. However, after running toward the 200-day MA and 200 bar MA on the 4-hour chart near 0.6330, the buyers turned to sellers and has corrected the gains. The subsequent fall has taken the price

The USDCAD has followed the USD lower and in the process is now stretching to a key cluster of support defined by: A swing area between 1.3654 and 1.3668 204 moving average on the four hour chart at 1.3665 50% midpoint of the April trading range at 1.36612 That cluster between 1.36541 and 1.3668 is

The USDJPY has two key level in play. ON the topside the 155.00 level is being touted at a level that the BOJ does not want to see the USDJPY move above. It may just be the “market” speaking, but there is chatter that the central bank also does not want the pair moving above

The EURUSD of higher after the weaker US data today and in the process tested the 30.2% retracement of the April trading range. That level comes in at 1.0709. The high price reached 1.07107 just above the retracement level before rotating modestly to the downside. What next? For buyers, the 38.2% retracement is a key

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive

GBP/USD daily Cable carved out a range from roughly 1.25-1.28 from December to early March in what was a slog of a market as we all weighed whether the BOE would keep its hawkish stance and the Fed would signal rate cuts. For a brief moment in March, it looked like the pair would break

I am eyeing Tesla stock before tommorow’s earnings report, and starting to buy now As equity traders, we’re always on the lookout for opportunities that promise a good return against measured risk. Tesla Inc. (TSLA), the innovative electric vehicle and clean energy company, presents such an opportunity. Ahead of its earnings release tomorrow, post-market close,

Welcome to my latest BTCUSD technical update at ForexLive.com. In this Bitcoin-focused analysis, we delve into the intricacies of Bitcoin’s price movements and provide strategic insights for both traders and investors. Below, we highlight key observations and trading tips from our analysis. Don’t miss our accompanying video for a visual guide through the technical landscape.

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 price of gold is on pace to close at a new record level today. A. How close level is $2832.30 on Monday, April 15. The low this week was on Monday at $2324.42. The point today at $2417.89 was the highest price for the week. The high intraday price was reached last Friday at

With key earnings being releases next week, the Nasdaq is flushing more to the downside. Nasdaq runs from the 100 day MA The NASDAQ index is now down -1.61% or -251 points at 15350.76.In the process, the price is running away from its 100 day moving average of 15489.71 and the 50% midpoint of the

As London traders look for the exits, the GBPUSD has rotated back to the downside. The price is currently trading at 1.2405. The low for the day was at 1.2388 reached shortly after the Israeli attack on Iran. That is also the low for the trading week. GBPUSD moves away from the 50% midpoint The

The NZDUSD has found a swing area support this week between 0.5851 and 0.58699. The trader also found swing area resistance at another swing area between 0.5933 and 0.5941. Those extremes helped to confined the ups and downs this week. Admittedly, with the price trading to new lows for the year and the lows going

The NASDAQ index is down near 1% in trading today. The tech heavy index is now down 6 straight trading days. Nvidia shares are down -3.03%. Amazon is down -1.49%. Meta Platforms is down -2.42%. Apple is down -1.06%. If you want to buy a dip, the market is dipping. The index is now down

The USDCHF fell sharply after the Israeli attack on Iran overnight. That move to the downside tested the broken 38.2% retracement of the move down from the 2022 high at 0.9025, and bounced as report of the extent of the attack were reported. The subsequent reversal to the upside so the pair moved back up

There is increased volatility after Israel’s retaliation against the Iran’s weekends drone attack. The EURUSD and GBPUSD moved lower (higher USD) initially, but has since rebounded. The USDJPY fell on flight into the relative safety of the JPY initially after the report, but as stocks have rebounded so has the USDJPY. In this video I

The US stocks are moving back toward session lows. The NASDAQ in that this really trading at 15615. The low price reached 15595.74. At current levels the price is down -0.43%. Nasdaq moves toward key support targets As the price was lower, it is getting closer to a key technical support level defined by the

The EURUSD has moved lower and is testing its 100-day moving average of 1.06421. A move below that level would tilt the bias even more to the sellers. Buyers earlier in the day tried to extend higher but could not get to the next target near 1.0694, nor the 38.2% retracement of the move down

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

ECB’s Lagarde said that: We monitor the exchange rate It is obvious that exchange rates may have an impact on inflation The truisms are not anything new, but given more illiquid afternoon markets, it did give a minor boost to the beaten down EURUSD. The move to the upside took the price into an briefly

The NZDUSD is higher on the day, but the move is still modest and there is work to do, to give the buyers more confidence after the recent move lower. IN this video, I outline the technical levels in play and explain what needs to be done, to give the dip buyers more confidence (or

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 US stock indices are ending the day with mixed results. The Dow industrial average closed modestly higher helped by a surge in UnitedHealth. Its shares rose $23.26 or 5.22% to $468.89. The S&P and NASDAQ index both fell modestly. A snapshot of the market closes shows: Dow industrial average rose 63.84 points or

Silver on the daily chart The price of silver moved to a high on Friday at $29.79. That got within $0.30 of the 2021 high at $30.09. The 2020 high reached $29.86. So there are 3 highs from 3 different years with $0.30. Those highs are the highest since 2013. Getting above them would open

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

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive

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

In an environment where geopolitical tensions are escalating, particularly between Israel and Iran, investors are closely watching the TA-35, an index tracking the 35 largest companies on the Tel Aviv Stock Exchange. The TA-35 Index serves as a barometer of the economic pulse of Israel and, by extension, how the country is navigating the troubled

AUDUSD daily The Australian dollar is nearing the February low of 0.6443 as it rests just 14 pips above. AUD/USD traded as high as 0.6644 on Tuesday but traded down sharply on the hot US CPI report and has continued lower today as the dollar breaks higher against a number of currencies. Though much of