Technical Analysis

🚀 S&P 500 technical analysis for 27 Feb 2024 | Price levels to watch 📈 Welcome to our latest video, where we dive deep into the S&P 500 futures with a technical analysis that can’t be missed. Join Itai Levitan right here at ForexLive.com as we uncover the potential future movements of this vital index.

Target range The Reserve Bank of New Zealand will meet and announce their rate decision on Wednesday morning in New Zealand (8 PM ET in the US. The expectations are for central bank to keep rates unchanged but to keep the door open for potential tightening in order to bring inflation back down toward the

USDJPY extends to new highs The USDJPY is moving to a new session high and in the process is extending above a swing area between 150.718 and 150.774. The next target comes against the high price from 2024 which was reached on February 13 at 150.88 (see chart above). Get above that level and traders

ECBs Lagarde is scheduled to speak at the top of the hour. Lagarde has been cautious in her statements on changing policy too soon. Looking at the EURUSD, looking at the hourly chart below, the price is coming off at session highs at 1.0859. As outlined in the kickstart video earlier today, the 200-day moving

In the dynamic world of stock trading, the NASDAQ Composite Index remains a focal point for investors and traders alike. With markets fluctuating based on a myriad of factors, understanding the technical landscape is crucial for those looking to navigate the waters of investment successfully. In this article, we distill the complex world of NASDAQ

The USDJPY has been waffling up and down since the run higher after the US CPI on February 13. Since then the price has rotated between 150.88 down to 149.52, with the price action even more contained this week. That range this week found support buyers near the low of a swing area near 149.70

Last week, the GBPUSD moved up to test the 200-bar moving average on the four hour chart and found willing sellers. Earlier this week, the price moved up to the 200 bar moving average again and found willing sellers. On Thursday, the price finally broke above that moving average level of 1.28087. However, momentum could

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 yesterday had an up-and-down move yesterday. On the way down, the price moved back below the 200 bar MA on the 4-hour chart at 1.08367, the 200-day MA at 1.08246, but found support buyers at the 100-day MA at 1.08028. Buyers saved the day by leaning against the 100-day MA. Going forward, the

The AUDUSD had an up-and-down day yesterday that initially saw the pair move above its key 200-day moving average, 200-bar moving average on the 4-hour chart, and 50% midpoint of the trading range since the October 2023 low. All those levels came between 0.65609 and 0.65699. However, momentum could not be sustained, and the price

The Nasdaq index is tracking toward the 38.2%/200H MA. The tech-heavy NASDAQ index is trading near session lows. Those laws came in at 15495.54. The current price is trading at 15504, down -127.30 points or -0.81%. Looking at the hourly chart, the price is approaching the 38.2% retracement of the 2024 trading range. That level

USDJPY moves to new session highs The USDJPY is moving to new at session highs, and in the process as extended above the swing area between 149.70 and 150.158. Yields in the US have turned around and are now higher on the day. The two year yield is at 4.642% up 3.0 basis points. The

Crude oil trades above the 100 hour MA The price of crude oil has moved to a new session high. That level is now reached $77.89, and in the process has moved above the 100-hour moving average at $77.52. Stay above that moving average would tilt the bias more to the upside at least in

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

Today, the GBPUSD pair experienced an upward movement, driven by a wave of dollar selling in response to lower interest rates. However, the pair’s momentum encountered resistance at a key technical level—the 200-bar Moving Average (MA) on the 4-hour chart. This same MA had previously halted the pair’s advance a week ago, leading to a

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

The USDJPY moved lower in the Asian session on Monday, Feb 19, but has since reversed and moved back to the highs. The low corrective price did remain within a swing area that will be the barometer for the pair this week between 149.70 up to 150.158. That keeps the buyers in play and in

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

The AUDUSD has had a down and up trading week. The move lower earlier in the week was off of the stronger than expected CPI. After finding support against a swing area target, the price bounced and was pushed higher after the retail sales on Thursday. Friday has been an up-and-down day with the 61.8%

SMCI daily The shares of Super Micro Computer have been a GME-style phenomenon in the last month, tripling as shares rose nearly every day. They touched $1080 in the pre-market but it’s been a rush to exits. There is major options trading in this pair, including massive volumes of trade in the past day. The

The USDCHF is rebounding today, after falling yesterday on the back of the weaker retail sales. What is key technically is that on the run lower yesterday, the price did move back below the 200-day MA and then the 100 day MA, but held support right at the 50% of the move down from the

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 US PPI data came in stronger than expectations. That lined up with the CPI data from earlier this week but not with the retail sales from yesterday’s trade. On Tuesday after the CPI was all the dollar move higher. Yesterday after the retail sales we saw the dollar will lower, and today after the

USD The Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut. Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a rate cut in March is not their base

The NZDUSD buyers based the pair today at the 200 and 100-day MAs near 0.6075 to 0.6078. Those were just above the 50% of the move from the October 2023 to the December 2024 high. That midpoint comes at 0.6070. So with the cluster of key technical levels – the 50%, 100-day and 200-day MAs

The EURUSD continued its run from earlier today, but did run into resistance at the 100-day MA at 1.0785. The price has since rotated lower and is now back down testing its 200 and 100-hour MAs at 1.0754 and 1.0749. Those levels are now the next barometer for this pair. Buyers have a shot to

The strongest to the weakest of the major currencies As the North American session begins the JPY is the strongest and the GBP is the weakest. The USD is mostly lower with only a modest gain vs the GBP and unchanged vs the CAD. In the UK preliminary GDP data for the fourth quarter showed