Technical Analysis

The NZDUSD moved sharply lower on the USD buying after the better than expected jobs data. In doing so, the price of the pair has moved below it 200 day moving average or 0.6087, and the 50% midpoint of the move up from the October low the December high. That level comes in at 0.60716.

The AUDUSD fell sharply after the US jobs report as yields surged (2-year up 18 bps, 10 year up 17.4 bps). Technically, the price fell below its 200 day moving average at 0.6572 and more recently below its 100-day moving average at 0.65276. A key swing. 0.65229 was also broken Recall from yesterday, the price

The S&P is training to a new all-time high. When the price is trading at a new high, there is no prior history that traders can target from a price perspective. We are in a open-air area. However, technical tools can be used to forecast the next target/risk levels. In this video, I look 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

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 lower (higher USD) like most pairs today in the early US session, but after the US data came out weaker, yields started to move lower helped by regional banking concerns, the trend lower reversed and the price reversed higher. Technically, the low for the day did see the price move below its

The AUDUSD at the start of the new trading day, moved lower and in the process fell below a dual technical level defined by the 100-day MA and a key swing floor near 0.6526. The price low reached down to 0.6507, but the momentum faded, and the price started to trade above and below the

EURUSD moves above the 200 day MA The EURUSD is moving to a new session high (USD lower). Yields in the US are moving lower helping to weaken the USD in the process. The 10-year yield is now down -14.1 basis points at 3,818% and trades at new lows for the new year. The Decemebr

Yesterday, the US30 sold off into the close as the Fed came out a bit more hawkish than expected. In fact, not only the statement contained a line that hinted to a pushback against the March cut, but also Fed Chair Powell doubled down saying that a March cut was not their base case. All

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 moved lower earlier in the day and in the process fell below a key support target defined by the 200 day moving average at 0.6574, and the 50% midpoint of the move up from the October low. That level comes in at 0.65699. The inability to stay below those levels turned sellers into

The price of WTI crude oil futures is settling up $1.04 or 1.35% at $77.82. The high for the day reached $78.11. The low extended to $75.88. Lower growth in Europe pressured the price early in the session. US production is also a negative for the price. However, momentum could not he sustained, the recover

The EURUSD has had another up-and-down trading day today. The move to the upside did take the price above its 200 day moving average at 1.08413 and 100 hour moving average currently at 1.0849, but the momentum could not be sustained and the price rotated to the downside. The buyers had their shot. They missed.

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 lower than expected borrowing numbers from the Treasury is leading to: Stocks moving higher Bond prices moving higher/yields lower, and the USD to the downside. Looking at the US stock market, the NASDAQ index is now up 163 points or 1.05%. The S&P index is up 33.81 points and trades at a new record

EURUSD bounces of the 50% midpoint The EURUSD has traded lower today and in the process, the price moved below its 200 day MA at 1.0842 and into a swing area between 1.08030 and 1.0824 (see yellow area and red numbered circles on the 4- hour chart above). Initially, the pair found buyers against the

The USD vs the 3 major currencies is mixed to start the training week in the US session. The EURUSD is back below eight 200-day moving average is 1.08420. That tilts the overall bias to the downside. The price is trading within a swing area between 1.0803 and 1.0824. If that swing area is broken,

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The US GDP beat expectations by a big margin. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again

The AUDUSD is mired in a narrow 70-pip trading range this week. The low was reached at the high of a swing area at 0.65504 (swing area down to 0.65417). The high reached up to the high of a swing area between 0.6612 to 0.66215. In between is the 200 day MA and the 50%

The EURUSD moved lower on the back of the ECB rate decision and the press conference from ECBs Lagarde. In the process, the pair moved below the 200-day MA at 1.08432 and toward a key swing between 1.08038 to 1.08243. Move below that level and traders will be looking toward the 50% of the move

The USDCAD moved sharply higher yesterday after the Bank of Canada interest rate decision. The price moved up toward the high price of last week at 1.35411, but fell short of that target. The subsequent move to the downside today took the price back down toward its 200 day moving average at 1.3483. Other moving

The USDCHF has moved higher in trading today and in the process technicals have improved: The low yesterday held against it to her poor moving average on 4-hour chart (currently at 0.8608) Today, the price low stalled against a rising trend line The price is currently above it to 200-hour moving average at 0.86492 What

In the kickstart video, I take a look at three other major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. There was a slew of economic data in the US highlighted by the Advanced GDP for the 4th quarter which showed strong growth and tame inflation, and initial jobless claims which

The recent earnings announcement from Tesla, last night on 24 Jan 2024, has resulted in a notable 7% to 8% decline in its stock price so far, sparking discussions among investors about potential buying opportunities. This situation has brought to light a unique investment strategy that introduces a staggering 12 to 1 reward-to-risk ratio, particularly

Yesterday, the USDCHF experienced an upward movement, reaching a key swing area between 0.8711 and 0.87314. The pair initially moved away from the 38.2% retracement level of the downward trend from the October high to the December low, which is at 0.86803. Despite this, the market couldn’t maintain its upward momentum. When the price subsequently

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 strongest to the weakest of the major currencies The JPY is the strongest and the USD is the weakest at the US session begins. The USD has been hit after gains yesterday did not get follow-through price action: The EURUSD Fell below its 200-day MA intraday yesterday (that MA is at 1.0844), but bounced

If I were to give a technical tilt for the AUDUSD, the bias is to the downside. Looking at the 4-hour chart, The price is now below the 200-hour moving average 0.65779 (green overlay line on the chart below). Bearish The price is also below the 50% midpoint of the move-up from the October load

The USDCHF is following the USDs run to the upside in the US session. US yields are helping. The 10-year yield is near 4.15%, up 5.6 basis points. The two-year yield is at 4.406% +3.0 basis points. At 1 PM ET, the U.S. Treasury auctions off $60 billion of 2-year notes. That will be followed

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again following the CPI data. The labour market continues to