Technical Analysis

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

It is Friday and although there is time before the close for the current trading week, it’s time to look ahead to next week from a technical perspective. This week the USDCHF pair fell as dollar selling was more dominant. Technically, the run above the 200-day moving average last week and earlier this week failed.

The NZDUSD – like the AUDUSD – declined earlier in the week before finding a base and snapping back to the upside. In the process, the pair moved above some key technical levels including both the 200 and 100 day moving averages and the 200 and 100 bar moving averages on the 4-hour chart. Later

US stock indices are giving up their gains as profit-taking pushes shares lower. The NASDAQ index is now in a negative territory. Even Nvidia is now down -3.83%. The NASDAQ index was up 176.33 points at session highs. It is currently down -78 points or -0.48% at 16198. The S&P indexes is in negative territory

The AUDUSD has had a strong week to the upside helped by risk on flows and improving and shifting technical bias. One of the big moves was a break above both the 100 and 200-day moving averages near 0.6560, and then the 38.2% retracement of the move down from the December high to the February

Both the US and Canada jobs reports were released. The US showed stronger job growth in February, but prior months were lowered by -167K. The unemployment rate also rose to 3.9% and wage growth rose by 0.1% which was the lowest in about a year. In Canada, their important statistics were stronger with a gain

The above video kickstarts the trading day for March 8 with the technical look at the EURUSD, USDJPY and GBPUSD after the US jobs report. That report was more mixed with stronger job gains this month, but large revisions to prior months. The unemployment rate also ticked up to 3.9% from 3.7% and average early

USD CAD The BoC left interest rates unchanged at 5.00% as expected stating that further easing in underlying inflation is needed. The latest Canadian CPI missed expectations across the board with the underlying inflation measures falling. On the labour market side, the latest report beat expectations but we saw a contraction in full-time employment and

As.the US session works toward the close, and the Asian-Pacific session looks to begin, what technical levels are in play for the major Asian-Pacific currency pairs including the USDJPY, the AUDUSD and the NZDUSD? This video outlines the bias-defining levels, the risks, and the targets for each of those currency pairs, and sets up traders

The GBPUSD has extended to a new high of 1.2797 which is just short of the high of the swing area between 1.2788 and 1.2800. The upside target would have traders looking toward the 2023 high from August 2023 at 1.2827. Move above that level, and the price will be trading at the highest level

USD JPY The BoJ kept its monetary policy unchanged as expected at the last meeting with interest rates at -0.10% and the 10 year JGB yield target at 0% with 1% as a reference cap. The Japanese CPI beat expectations although all measures eased further from the prior readings. The latest Unemployment Rate remained unchanged

The buyers have plowed into the AUDUSD today. The low to high trading range is around 90 pips which is near double the 22-day average (month of trading) of 47 pips. That range is the 4th largest for the year, and the largest since February 13. So it is something to shout about. The move

The USDJPY has continued its run to the downside and in the process did reach its target against the 200 bar moving average on the 4- hour chart at 149.147. The price dipped briefly below the level but has since bounced back and currently trades at 149.27. It would take a move back below the

The USDJPY pair experienced a downturn, signaling a shift towards a bearish momentum in today’s trading session. Despite this decline, the currency pair found some support at a critical swing area near 149.70, which prevented further losses and led to a modest bounce. This level has proven to be a pivotal point for the pair,

NASDAQ and traded two new session lows away from 100H MA The NASDAQ index is trading to a new session low of 10982.80. The break lower is taking the price away from its 100-hour moving average at 15922.44 price. The 200-hour moving average at 15764.89 is the next major target. Looking back to February 21,

Meta shares fell sharply, after the outages on Facebook and Instagram this morning (see post here). The price has bounced back with the current price now down -$5.00 or 1.00%. At the session lows, the price was down as much as -$10.09 (at session lows). Technically speaking, Meta moved and closed above its previous all-time

The NASDAQ index has now joined the S&P index in positive territory as the day works toward the final hour of trading. The index is currently at 3.65 points or 0.02% at 16277. A positive close would be a record close for the index. NASDAQ index is on pace for a record close Meanwhile, the

S&P index working on it 3rd consecutive record closing level The S&P index is working its way back toward unchanged on the day. It currently is down -0.92 point or 0.02% . Recall from Friday, the index closed at a record level. A close in positive territory would be yet another record for the index.

The EURUSD trades up to the 38.2% of the move down from the December high, and finds sellers. That level comes in at 1.0864. The high reached 1.0866 and backed off. The buyers made a play in the pair, but can they get the price above 38.2% and stay above to show they want to

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

Oil daily chart $80 WTI is important both psychologically and technically. It hasn’t been up here since November 7, when questions began about OPEC+ unity. OPEC has held it together so far and global growth has been strong so far this year. Technically, I would look to $81.46 next. That’s the 50% retracement of the

USD The Fed left interest rates unchanged as expected at the last meeting and dropped the tightening bias in the statement. The US PCE came in line with expectations. The US Jobless Claims missed expectations although the data is still in the recent ranges. The latest US PMIs increased further from the prior month with

NZDUSD keeps finding support at the 200 day MA The NZDUSD moved sharply lower yesterday after the Reserve Bank of New Zealand rate decision was unchanged with a more dovish bias. That was in contrast to the market assessment that the central bank would be more hawkish (and perhaps raise rates). Looking at the 4-hour

The USDCHF Is breaking to the upside and in the process is running away from a cluster of moving averages including its: 100-bar moving average on the four-hour chart at 0.87946, 100-hour moving average at 0.8798, and its 200-hour moving average at 0.8802. The price is also breaking above a ceiling going back to last

The EURUSD is moving to a new session and week low and in the process has broken back below a cluster of moving averages including the: 200-day moving average 1.08256 200- bar moving average on the 4-hour chart at 1.0820 100-day moving average 1.08134. The prices also moving below a swing area down to 1.08038.

The USDJPY has moved up toward the 2024 hi at 150.87 on two separate occasions today. The first attempt stalled and the price rotated back down to retest its 100-hour moving average (currently at 150.532). The second run to the upside occurred in the US morning session and it moved up once again toward that

The RBNZ kept rates unchanged at 5.5%, and were more dovish in their projections and their comments. As a result, the NZD is tumbled lower. The NZDUSD has broken through some key support levels. The 100 and 200-bar moving averages on the 4-hour chart were broken at 0.61310 and 0.6126. More recently in the North

The USDCAD broke higher earlier today, and in the process extended above a key swing area between 1.3526 and 1.35428. Just above that level was the following 100-day moving average 1.3545. Getting above all those levels increase the bullish bias and the price raised higher. That move to the upside extended above the 1.3600 level

Nasdaq is approaching the all-time high close at 16057.44. While the Dow 30 index is lower, and the S&P is morbidly higher by 0.12%, the NASDAQ index is stretching to a new session high at 16045.34. That is getting closer to the all-time high close at 16057.44. Recall from last week, the price high intraday

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