Bitcoin falls below $40000 The price of Bitcoin is trading to a new session low, and in the process, the price is breaking below the $40,000 level for the first time since December 4. The price is also falling below it 38.2% retracement of the move up from the September 12 low to the January
Technical Analysis
The price of WTI crude futures are settling at $75.19. That is up $1.78 or 2.42%. The high price reached $75.46. The low-price extended to $72.56. Domestically in the US, North Dakota oil output is estimated to decrease by 250,000 – 300,000 barrels per day due to cold weather conditions. The high-price today traded above
The EURUSD this week trended lower into Wednesday but found support buyers against its 200-day moving average. The moving average was tested on two separate occasions, and each time buyers leaned and pushed the price higher. The subsequent rise has taken the price back to a swing area between 1.08788 and 1.0894. Move above that
The AUDUSD moved lower in the first half of the week, with the high for the day reached in the early hours of Monday. The fall bottomed on Wednesday when the price reached a low corresponding to swing highs and lows from November and again in December. Today’s return to that level attracted risk-focused buyers,
SPX weekly The S&P 500 just edged above the 2021 all-time high of 4818. A weekly close above that would be particularly bullish. The past two days of buying have been remarkably strong despite higher Treasury yields. On the day, the index is now up 0.8% to 4820, up 40 points. Technically, the weekly close
The NZDUSD moved lower in the early part of the week, helped by technicall breaks and slower growth in China. The move to the downside continued until the price moved into a key cluster of support defined by the 200 day moving average at 0.60897, a swing area going back to mid-November at 0.6078 –
The USDCHF has moved higher this week. The low for the week was on Monday. In the current 4-hour bar, the price is making new highs. So buyers have been in control. On the way to the upside, the price moved above the 200 bar moving average on the 4-hour chart. That level comes in
The major US stock indices are opening higher, but often the highs from the premarket trading. Of note today is the S&P index is once again looking to test its high closing level. That level comes in a 4796.57. The high price today has reached 4799.33, but has backed off. Last week the price moved
The USDCAD this week moved higher and in the process extended above its 38.2% retracement of the move down from the October high. It also moved above the 200-day MA currently at 1.34809 but stalled the rally at the 50% midpoint of the same move down from the October high. Traders will often lean (at
In the kickstart video for your trading day, I take a look from a technical perspective of the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD. The EURUSD on Wednesday and again on Thursday tested its 200 day moving near 1.0854 and found willing buyers..That has led to a modest rebound into close
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 Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was
The NZDUSD trended lower into yesterday’s trade, but after reading it at 200 day moving average near 0.60901, and a swing area between 0.6078 and 0.6085, the selling baby in the price corrected the upside. That move to the upside took the price to an Asian session high of 0.6135. That was short of the
The EURUSD yesterday moved down to test its 200-day moving average at 1.0846. The low price reached 1.0842 before bouncing to the upside. The subsequent move to the upside yesterday and into the Asian session today sniffed its falling 100 hour moving average currently at 1.0905. However, it found willing sellers after the initial jobless
The USDJPY has continued it trend like move the upside today. In the process the price cracked above the 100-day moving average and 61.8% retracement of the move down from the November high. That level came in at 147.45. The subsequent run to the upside after that break, so the pair move up to a
The AUDUSD has continued its move to the downside in trading today. Weaker China data helped to push the price further to the downside. Technicals have also had levels broken with the 38.2% at 0.66407, the 50% at 0.65699. The 200 day MA was also broken today opening the downside to more probing. The price,
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 GBPUSD is back down testing the low for the day in what has been a big move lower for the pair today. The price of the GBPUSD is down -0.77% currently. In the move lower today, the price finally broke away from an up and down area and away from the 100 and 200
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 below a swing area between 1.08788 and 1.0894. The 61.8% of the move up from the December low is also in that area and all of it now sets that area a risk and bias defining area. Stay below 1.0894 is more bearish in the short term at least. Move above and
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 Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was
The EURUSD is moving sideways today. The USDJPY is moving higher. While the GBPUSD is continuing its ups and downs . Both the EURUSD and the GBPUSD are trading between the 100/200 hour MAs. The USDJPY is more bullish but is finding some resistance selling near the 50% midpoint of the move down from the
Gold Futures Trade Idea 📉: I’m targeting a short position on Gold Futures with an attractive risk/reward ratio of 5 to 1. Please note that this trade is speculative and should be considered at your own risk. Technical Outlook for the Gold Futures Short 🔍: Entry Price: 2067.8, wait to fill Partial Profit Target: 2000.8
Crude oil futures falls from highs but find support at MAs Crude oil futures are settling at $72.68. That represents a gain of $0.66 or 0.92%. The high-priced extended to $75.25. The low price reached $72.36. The sharp rise to the upside was spurred on by the US and UK bombing of Houthi rebel in
The EURJPY is testing a cluster of technical levels including the 100 hour MA, the 100 day MA and the 50% all within a few pips of each other. Below that – and not far away- is the low of a swing area. With several technical levels centered in a fairly narrow range, the dynamics
The USDCAD is pushing back to the upside in what has been a volatile up-and-down trading day. That is congruent with a volatile up-and-down trading week. The high price this week was reached yesterday when the price extended above a swing area between 1.3398 and 1.3414. The high price reached 1.3442. But I returned to
S&P failing on break above all-time high close The all-time high close for the S&P index is at 4796.57. Back on December 28, the high price reached 4793.19 and backed off. Yesterday the high price extended above the all-time high close reaching 4798.50, but backed off. Today’s high price extended to 4802.40 and with the
The USDCHF has moved lower after the weaker-than-expected PPI data. That news sent yields in the US tumbling to the downside, and has now pushed the price of the USDCHF below its 100 and 200 hour moving averages near 0.8508 (dollar selling). The low-price extended to the low-price from yesterday at 0.8487. Looking at the
The S&P index is open, higher and trading above and below the all-time highest close ever at 4796.57 The gains are modest. Yesterday, the S&P did move above that level again and backed off. Is today the day? S&P index is testing its all-time high closing level A snapshot of the market currently shows: Dow
The US PPI data today came in weaker than expectations. That data neutralize the stronger-than-expected CPI data from yesterday. That inflation storyline is congruent with the price action in currencies. There is little upside. There is little downside. The details on the economy are mixed. The trading price action is mixed as well. It’s Friday.
The market’s reaction to the tame US United for December shows: USD lower Stocks higher Yields lower. IN the forex: The USDJPY is back down toward its 100-day moving average of 144.87. Earlier today, the price, the price moved back down toward that 100-day moving average only to find buyers. This is the third look
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